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News & Articles By Garrison Vance
04/06/2026
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By Garrison Vance
Russia Expands Gasoline Export Ban, Faces Major Oil Outages Due to Drone Strikes
Russia Bans Gasoline Exports, Confirms Major Baltic Oil Terminal Outages The Russian government has expanded a ban on gasoline exports to include producers of the fuel, according to a report from Interfax news agency [1]. The ban, which now includes all gasoline producers, is scheduled to remain in effect until July 31. It expands previous […]
04/01/2026
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By Garrison Vance
Jet Fuel Prices Surge Amid Middle East Tensions, Airlines Warn of Potential Shortages
Jet fuel prices in the United States have more than doubled in recent weeks, placing acute pressure on global airlines and raising the prospect of widespread travel disruptions. Prices surged from approximately $2.17 to $4.57 per gallon by late March, according to the Argus U.S. Jet Fuel Index [2]. Industry executives warn that airline fuel […]
03/31/2026
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By Garrison Vance
Oil Prices Hit Multi-Year High Amid Persian Gulf Tensions
Oil Prices Close at Highest Level Since 2022 as Iran Negotiations Fail to Ease Supply Fears Oil markets closed Friday, March 27, at their highest level in more than three years, as diplomatic maneuvers by U.S. President Donald Trump failed to calm persistent fears over the security of Middle Eastern supplies. According to market data, […]
03/27/2026
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By Garrison Vance
Iranian Oil Revenue Climbs to $139 Million Daily Amid Strait of Hormuz Disruptions
Iran Earns $139 Million Daily from Oil as Hormuz Crisis Continues Iran’s oil exports continue to flow through the Strait of Hormuz despite a regional conflict, generating an estimated $139 million per day in March, according to Bloomberg calculations based on export data from Tankertrackers.com [1]. The daily revenue represents an increase of nearly $25 […]
03/26/2026
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By Garrison Vance
Britain Assumes Command of Multinational Task Force in Strait of Hormuz as Iran Rejects Ceasefire Proposal
The Royal Navy assumed operational command of a multinational naval coalition in the Strait of Hormuz on March 25, 2026, according to a statement from British defense officials. The task force is comprised of vessels from multiple allied nations and is being deployed as commercial shipping through the critical waterway remains severely disrupted. The announcement […]
03/24/2026
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By Garrison Vance
UAE Proposes International Session on Securing Vital Energy Corridors
Introduction The United Arab Emirates (UAE) has called for an international “working session” aimed at bolstering the resilience of the global energy system, citing recent attacks on energy infrastructure and the effective closure of the Strait of Hormuz. UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber made the proposal on March 23 […]
03/24/2026
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By Garrison Vance
Simulation: Extended Strait of Hormuz Closure Could Affect $1.2 Trillion in Global Trade
Simulation Models Impacts of Prolonged Strait of Hormuz Closure A simulation conducted by Austrian researchers has modeled the potential global economic impact of a prolonged closure of the Strait of Hormuz, a critical maritime chokepoint, according to a study released in March 2026. The research, which examined the flow of 10,000 tankers between 1,315 ports […]
03/21/2026
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By Garrison Vance
Cabinet Secretaries Rule Out Export Restrictions to Curb Gas Prices, Citing Energy Security
Introduction Energy Secretary Chris Wright and Interior Secretary Doug Burgum issued a joint statement on March 19 explicitly denying any plans to restrict U.S. oil and natural gas exports as a tool to curb domestic fuel prices, according to officials [1]. The statement, posted on social media platform X, came amid speculation that the administration […]
03/21/2026
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By Garrison Vance
U.S. Treasury Secretary Suggests Potential Easing of Sanctions on ‘Stranded’ Iranian Oil
U.S. Official Signals Possible Policy Shift on Sanctioned Iranian Crude U.S. Treasury Secretary Scott Bessent indicated on Thursday, March 19, that the Trump administration is considering lifting sanctions on Iranian crude oil currently held on tankers at sea, according to a report by Reuters. [1] The remarks, made during a financial conference and later in […]
03/20/2026
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By Garrison Vance
Trump Administration Issues 60-Day Jones Act Waiver Following Oil Price Spike
Administration Waives Cabotage Law for Oil Shipments President Donald Trump issued a 60-day waiver suspending enforcement of the Jones Act on March 18, 2026, according to a White House announcement. The move temporarily lifts a century-old maritime law that requires goods shipped between United States ports to be carried on vessels that are U.S.-built, U.S.-flagged, […]
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