Oil Prices Fall on Looming Supply Glut
Oil prices fell by more than $1 a barrel on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.Brent crude futures fell $1.13 or 1.82% to $61.11 per barrel by 1:14 p.m. EDT. U.S. West Texas Intermediate (WTI) crude fell $1.13…
Maritime History: Effort Underway to Preserve Historic Passenger Vessel
On January 8, 2026, NYK will launch an expert committee dedicated to the long-term preservation of Hikawa Maru, a national Important Cultural Property moored in front of Yokohama’s Yamashita Park.Since 2024, NYK has been conducting surveys on the hull of Hikawa Maru to assess its safety and structural integrity in preparation for large-scale repairs. This long-term preservation project aims not only…
US Orders Military to Enforce ‘Quarantine’ of Venezuelan Oil
The White House has ordered U.S. military forces to focus almost exclusively on enforcing a "quarantine" of Venezuelan oil for at least the next two months, a U.S. official told Reuters, indicating Washington is currently more interested in using economic rather than military means to pressure Caracas."While military options still exist, the focus is to first use economic pressure by enforcing sanctions to reach the outcome the White House is looking (for)…
Iran Seizes Foreign Tanker Over Alleged Fuel Smuggling
Iran has seized a foreign oil tanker near the Iranian island of Qeshm in the Gulf, saying it was carrying 4 million litres of smuggled fuel, state media reported on Friday.Authorities did not name the vessel or disclose its nationality. They said 16 foreign crew members had been detained on criminal charges.
