Traders fear that they’re going to need to permanently price in instability in the Strait of Hormuz as shortages loom and Asian demand heats up.

Oil and gas firms say EU methane rules will force them to stop exporting to Europe. The Commission thinks they’re bluffing.

Reuters: EU waives penalties for oil and gas firms that breach methane lawThe European Commission instructed EU governments to waive penalties for three years for oil and gas…