Oil Daily | Oil Market Stable Amid US-Iran Tensions, LNG Canada Begins Operations

【Oil-Producing Countries Dynamics】

Iran has vowed to retaliate against U.S. strikes on its nuclear facilities, suggesting increased military responses. The U.S. warned Iran against retaliating, emphasizing severe consequences. Tensions are escalating following strikes on Iranian nuclear sites, with both nations expressing strong rhetoric. Iran's military leaders are considering actions against U.S. troops in response to the attacks.

【Latest Oil Policies】

The UK government, under Starmer, plans to reduce industrial electricity bills by 25% from 2027, exempting energy-intensive industries from certain levies like the Renewables Obligation. This aims to tackle the high energy costs in the UK, which pose risks to industrial investment and security. The government is also committing to nuclear energy to provide baseload power for the net-zero drive.

【Industry News】

LNG Canada, backed by major global energy companies, has started partial operations, producing its first LNG batch. The facility aims to redirect Canadian gas exports toward global markets, gradually reducing exports to the U.S. Future completion of other LNG projects will further shift energy exports. The investment in LNG reflects strong global demand projections.

【Others】

The oil market showed a muted response to U.S. strikes on Iran, indicating stability due to OPEC spare capacity and high inventories. Historical incidents with similar geopolitical tensions led to sharper price movements. Traders remain cautious, anticipating potential disruption in the Strait of Hormuz, which could trigger significant price changes. Current market conditions reflect resilience amidst geopolitical risks.