Energy Price, news 17/04/26

17 Apr Energy Price, news 17/04/26

(Oilandgaspress) United States announced tighter sanctions on Iran’s oil sector as tensions escalate over Tehran’s continued closure of the Strait of Hormuz.

“Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) intensified pressure on Iran’s illicit oil transportation infrastructure by sanctioning more than two dozen individuals, companies, and vessels operating within the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani (Shamkhani), the son of now-deceased senior Iranian security official Ali Shamkhani,” the US Department of the Treasury said in a press release

The US State Department added that the sanctions are aimed at limiting Iran’s ability to generate revenue while it continues to disrupt global energy flows. “The United States is acting to decisively limit Iran’s ability to generate revenue as it attempts to hold the Strait of Hormuz hostage,” the department said. Washington has imposed a naval blockade on Iranian ports.

Iran war’s global energy shock is pushing nations in Asia and Africa to boost nuclear power generation and accelerating atomic energy plans in countries that have never had it.

Asia, where most Middle Eastern oil and gas was headed, was hit first and hardest by disruptions to shipping routes — swiftly followed by Africa. The US and Europe are also feeling the pinch as the conflict drives up energy costs. Countries with nuclear plants are increasing output as they scramble for short-term supplies, while non-nuclear nations are fast-tracking long-term atomic plans to guard against future fossil fuel shocks. Related News

Company failures in the UK have jumped higher again in March due to a surge in firms collapsing into administration as experts warned more may go bust as the Iran war and soaring wage bills send costs surging.

Latest data from the Insolvency Service shows the number of company insolvencies rose 7% month-on-month in March to 2,022. Company administrations surged 52% between February and March to 235, and were 82% higher when compared with March 2025, while compulsory liquidations jumped 18%.

Company voluntary arrangements (CVAs) doubled during the month to 20, the figures showed.

Fuel and energy costs have been jumping higher due to the Iran war, which has hit some sectors hard already, such as manufacturing. Related News

A tanker flying the flag of Pakistan has just become the first vessel to ship crude out of the Strait of Hormuz since the U.S. blockade outside the chokepoint began on Monday, ship-tracking data compiled by Bloomberg showed on Friday.

The Shalamar crude oil tanker of the Aframax size is now in the Gulf of Oman en route to Karachi, Pakistan, half-full with an estimated cargo of 450,000 barrels of crude loaded at Das Island in the United Arab Emirates, according to the data. Related News