https://www.spglobal.com/energy/en/rss/oil-crudeSubscribe to the latest oil news from S&P Global Energy RSS Feed to get timely updates on current issues in the energy industry.Crude Oilhttps://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/081226-war-risk-insurers-withdraw-cover-for-red-sea-insurance-following-deadly-incidentFive of the world's largest protection and indemnity clubs are withdrawing part of their war risk coverage for passing the Bab al-Mandab Strait following the first deadly maritime attack in the region since renewed Houthi-Saudi tensions last month. In web circulars published Aug. 12, London P&I, Skuld, Swedish Club, NorthStandard and the Shipowners' Club said their fixed-premium cover forMaritime & Shipping, Crude Oil2026-08-12T18:32:08Zhttps://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/081226-russia-threatens-to-seize-eu-ships-in-sanctions-retaliation-plans-further-arctic-shippingRussia could seize EU-linked ships in retaliation for the bloc's sanctions enforcement against the country's oil trades, while continuing to develop Arctic shipping, President Vladimir Putin said Aug. 12. On July 23, EU member states agreed to their 21st package of sanctions against Russia that grants each of them the legal right to confiscate Russian oil on sanctioned ships and sell the cargo.Maritime & Shipping, Crude Oil, Wet Freight2026-08-12T16:49:54Zhttps://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/081226-hormuz-transits-fall-to-16-ships-on-aug-11-as-us-navy-fires-on-iran-bound-container-shipThe number of ships to transit the Strait of Hormuz fell to 16 on Aug. 11 when US Central Command said the US Navy had attacked a container ship, with the UK Maritime Trade Operations noting an incident between a container ship and military forces in the Gulf of Oman, S&P Global Commodities at Sea said in a report Aug. 12. Transits on Aug. 11 compared with a revised 17 ships on Aug. 10, while 36Maritime & Shipping, Crude Oil, Refined Products, Containers, Wet Freight2026-08-12T16:29:26Zhttps://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/081226-india-banks-on-diversification-diplomacy-to-counter-oil-market-volatilityIndia is looking to mitigate oil market volatility by diversifying its crude-buying sources and encouraging refiners to maintain flexibility between term and spot contracts to take advantage of arbitrage opportunities and cut costs, the petroleum ministry told a parliamentary panel. In an Aug. 6 report presented to parliament — a copy of which was made available to Platts, part of S&P GlobalCrude Oil, Refined Products, Natural Gas, Chemicals, Electric Power, Energy Transition, Renewables, Hydrogen2026-08-12T02:48:15Zhttps://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/081126-us-eia-raises-brent-outlook-to-87b-on-hormuz-shipping-constraintsThe US Energy Information Administration raised Aug. 11 its Brent crude oil price outlook for 2026 to $87/barrel, up $5 from a month ago, due to constraints on shipping through the Strait of Hormuz impacting oil production. "We have increased our estimates of Middle East shut-in crude oil production in the coming months compared with our July forecast due to continued severe constraints on StraitRefined Products, Crude Oil, Diesel-Gasoil, Gasoline2026-08-11T20:24:28Z