10 Feb Energy / Automotive news, commentary and analysis |Vessels within Strait of Hormuz wary of tensions between Washington and Tehran
(Oilandgaspress) Oil continues to respond to geopolitical-driven uncertainty as the US advised ships to steer clear of Iranian waters when navigating the Strait of Hormuz,
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $64.54 | Down |
| Crude Oil (Brent) | USD/bbl | $69.32 | Up |
| Bonny Light 06/02/26 CBN | USD/bbl | $71.25 | — |
| Dubai | USD/bbl | $68.10 | — |
| Natural Gas | USD/MMBtu | $3.13 | Down |
| Murban | USD/bbl | $69.61 | Down |
| OPEC basket 09/02/26 OPEC | USD/bbl | $66.93 | Down |
| At press time February 10, 2026 |
Oil prices eased slightly on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. Prices rose more than 1% on Monday, when the U.S. Department of Transportation’s Maritime Administration advised U.S.-flagged commercial vessels to stay as far from Iran’s territorial waters as possible and to verbally decline Iranian forces permission to board if asked.
About a fifth of the oil consumed globally passes through the Strait of Hormuz between Oman and Iran, making any escalation in the area a major risk to global oil supplies. Iran along with fellow OPEC members Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq export most of their crude via the strait, mainly to Asia. Related News
NWVA, one of the UKʼs most established vehicle recovery and collision management operators have defined the business since day one. But as the transport sector faces mounting environmental and regulatory scrutiny, NWVA is proving that operational excellence and decarbonisation no longer have to compete. This year, the company announced a strategic partnership with New Era Energy, one of the UKʼs most accredited and fastest-growing fuel suppliers, a move that is reshaping how large, mission-critical fleets approach fuel, efficiency, and emissions.
At the heart of the partnership is NWVAʼs transition to HVO (Hydrotreated Vegetable Oil), a renewable diesel alternative capable of delivering immediate carbon reductions without engine modifications. Unlike traditional biodiesel blends, HVO is a drop-in fuel meeting the EN 15940 standard, meaning it can be used in modern diesel engines without changes, downtime or risk. According to Joe Bartle, NWVAʼs Transport Manager, the operational benefits were quickly evident. “From a technical perspective, HVO has been outstanding. The high cetane number often between 70 and 90 gives cleaner combustion, quieter engines, and smoother starts. Cold weather performance has been excellent, even in harsh conditions, and weʼve seen fewer issues with filters and fuel systemsˮ. Related News
Vitol has long monitored and forecast demand for crude oil and products.
Key changes include: Demand level shifts higher: at its height global oil demand could reach around 112 million bpd.
Electric vehicle (EV) adoption assumptions are revised: Slower near-term passenger car EV uptake in the United States and certain Asian countries has led us to broadly align the base case with last year’s low-EV-adoption scenario.
Peak demand is pushed back to the mid-2030s, mostly due to demand from the road transport sector, other sectors remain broadly unchanged.
This contrasts with our February 2025 outlook, which projected demand would continue rising into the early 2030s and then decline, leaving 2040 demand roughly in line with 2024 levels. Related News
Volvo Construction Equipment (Volvo CE) has completed the previously announced acquisition of Swecon. Following the approval received from the European Commission to acquire Swecon the parties have now joined forces. Volvo CE has acquired Swecon’s business operations in Sweden, Germany and the Baltics including Entrack. The transaction is valued at an enterprise value of 7 billion SEK. The acquisition includes Swecon’s business scope in above markets, i.e. sales of products and services, rental operations, aftermarket services and support to customers as well as offices, workshop facilities and 1,400 employees. Volvo CE sees this as a strategic move to further invest and strengthen its retail operations and service sales in key markets and thus make the retail market core for Volvo CE in Europe. Related News
Adani Energy Solutions Limited (AESL), became the first player in India and perhaps globally to have successfully delivered 1 crore electricity smart meters across discoms, with the next 1 crore to be delivered in the coming financial year. As India’s leading AMISP (Advanced Metering Infrastructure Service Provider), AESL has a mandate to install ~2.5 crore smart meters across five states. At ~25,000 per day, its pace of installation is highest in the industry.
This milestone comes much ahead of the company’s guidance of reaching the 1 crore mark by 31st March 2026, and underscores AESL’s commitment to drive digital transformation in the much needed retail electricity distribution, providing invaluable data on consumption and for grid modernization, thereby supporting India’s nationwide smart metering rollout under the Government of India’s Revamped Distribution Sector Scheme (RDSS). AESL’s smart meter network delivers real-time consumer insights, enhances billing transparency, and strengthens utility operations. Related News
Volkswagen is embedding subtle clues across brand social channels designed to spark viewer participation in its new ‘Drivers wanted’ campaign. Through a series of social posts with embedded clues, Volkswagen is inviting a new generation of drivers to live life in the driver’s seat and rewarding their curiosity. The clues direct audiences to Driverswanted.co, where eligible participants can enter for a chance to win prizes, including a new 2026 Golf GTI. The sweepstakes opened Sunday, February 8—clues scattered within VW’s ‘Drivers wanted’ social posts lead to a URL—and runs through Monday, March 2, 2026, at 11:59 p.m. ET. NO PURCHASE NECESSARY. Open to legal US residents physically residing in the 50 United States, PR, or DC, 25+ years of age. Void where prohibited. Void where prohibited. Sponsor: Volkswagen Group of America. See Official Rules for prize details, terms and conditions, Related News
Porsche has launched a flagship initiative to support start-ups. With “Start-up Your Dream”, Porsche is implementing a flagship project to provide support for start-ups. The initiative aims to reach as many people as possible in important social areas. The funding is based on the four pillars of education, networking, mentoring and financing and is individually tailored to the needs of the courageous and creative founders. Related News
XPeng’s largest sales and service center in China officially reopened in Nanyun Fifth Road, Huangpu District, Guangzhou. The center covers an area of 25,000 square meters, equivalent to about 60 standard basketball courts. Its service functions have been upgraded from the original “sales + delivery” to a full-process coverage of “sales + delivery + after-sales”, truly realizing a one-stop closed loop of “car selection – car delivery – car maintenance”. With nationwide coordination and a systematic sales and service network, XPeng will launch upgrades in key cities across China, including Beijing, Shanghai, Shenzhen, and Nanjing, to continuously improve its delivery and service system and comprehensively enhance delivery efficiency and user satisfaction.
Upgraded and renovated to create a one-stop service loop : As XPeng’s largest new SI 3.0 standard store nationwide, the Huangpu Sales and Service Center covers one-stop service of “sales + delivery + after-sales”. This renovation is not only a leap in service capabilities, but also an important move by XPeng to support its large-scale development in channel layout, demonstrating the brand’s comprehensive efforts in sales, service and regional collaboration. Read More
Wayve, a british self-driving car pioneer launching autonomous taxis on UK roads is set to be valued at $9bn (£6.6bn). Wayve, founded in Cambridge in 2017, is in talks to raise more than $1bn in one of the largest funding rounds ever for a British AI start-up. The company, which develops a kind of robot brain for driverless cars, is one of a group of tech businesses racing to launch self-driving taxi pilots on UK roads in the coming months. It has a deal with Uber to launch a trial of its technology in the ride-hailing company’s vehicles later this year. Related News
Perenco Congo announced the successful installation of the new Kombi 2 platform on the Kombi-Likalala-Libondo II (KLL II) field, marking a key milestone in the redevelopment of this historic field, more than 20 years after the drilling of its last well. This major project represents an investment of over 200 million dollars, demonstrating Perenco’s ongterm commitment to supporting energy development in the country.
Designed as a new-generation infrastructure, Kombi 2 plays a central role in the field’s future performance, thanks to improved water and effluent treatment, increased associated gas recovery, and 8 MW of electricity generated by its two gas turbines, thereby ensuring greater energy autonomy for operations. Kombi 2 is a forward-looking platform. It will host a six-well drilling campaign starting in 2026, with the aim of increasing production, optimising the field’s recovery factor, and extending its life in a sustainable manner thanks to facilities adapted to current standards. Connection work is currently underway, with commissioning scheduled for early March 2026. Related News
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
energy ,news ,oil market ,gas prices,oil price ,oil trends,crude oil market,automotive electrification,EV industry ,electric vehicle trends,automotive, forecast,
Sorry, the comment form is closed at this time.