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MercoPress, en Español

Montevideo, April 10th 2026 - 16:17 UTC

Energy & Oil

  • Tuesday, March 24th 2026 - 05:55 UTC

    Analysts warn $200 oil is no longer a far-fetched scenario

    The International Energy Agency (IEA) has described the crisis as “the greatest threat to global energy security in history.”

    Oil prices could surpass $150 per barrel and approach $200 if the Strait of Hormuz blockade persists, according to energy industry analysts — a level that would make a global recession virtually inevitable.

  • Monday, March 23rd 2026 - 01:53 UTC

    Lula and Peña agree to accelerate Itaipú treaty review

    Annex C stipulates that both countries are entitled to 50% of the energy generated, but requires whichever party does not use its full share to sell the surplus to the other at preferential rates

    The presidents of Brazil, Luiz Inácio Lula da Silva, and Paraguay, Santiago Peña, agreed on Sunday in Campo Grande to intensify negotiations over Annex C of the Itaipú treaty, the instrument that governs the financial terms and energy sales of the binational hydroelectric dam, one of the largest in the world.

  • Thursday, March 19th 2026 - 02:12 UTC

    Russian diesel shipment bound for Cuba challenges US blockade

    Although limited in scale, the cargo —estimated at around 200,000 barrels of diesel— could cover roughly 10 days of national consumption

    A Hong Kong-flagged tanker that could be carrying fuel to Cuba has resumed navigation in the Atlantic after remaining halted for several weeks, in a move that could offer limited relief to the island’s deepening energy crisis. According to ship-tracking available on Vessel Finder, the Sea Horse loaded fuel in a ship-to-ship operation earlier this year and then resumed course with Cuba as a possible destination. The Financial Times reported that the vessel was part of two Russian energy shipments headed to the island and could arrive within days.

  • Wednesday, March 18th 2026 - 22:21 UTC

    Attack on world’s largest gas field raises tensions and jolts markets

    The market reaction was immediate. Brent crude rose to $110.94 a barrel, a daily gain of 7.28%, while Europe’s TTF gas benchmark climbed to 54.73 euros per megawatt hour, up 6.14% on the day

    The war involving Iran, Israel and the United States escalated sharply on Wednesday with a strike on South Pars, the Iranian side of the world’s largest natural gas field, which it shares with Qatar. Reuters reported that the hit on the site marked a new phase in the conflict by targeting major Iranian energy infrastructure for the first time in this war, and was followed by Iranian threats and attacks against energy targets across the Gulf.

  • Wednesday, March 18th 2026 - 01:07 UTC

    Magnitude 6 quake strikes eastern Cuba as island remained under nationwide blackout

    The tremor hit as Cuba was still trying to restore electricity after the “complete disconnection” of its National Electric System reported on Monday

    A magnitude 6.0 earthquake struck eastern Cuba early on Tuesday while the island was still dealing with a nationwide blackout caused hours earlier by the collapse of the power grid. The quake was recorded by the European Mediterranean Seismological Centre at a depth of about 15 km, while reports from Cuba’s seismological service placed the epicenter 37 km southeast of Imías, in Guantánamo province, and said it was felt across several eastern provinces.

  • Tuesday, March 17th 2026 - 10:00 UTC

    Saudi Arabia diverts more crude to the Red Sea to bypass Hormuz, but alternative capacity remains limited

    The bottleneck is not only the pipeline itself, but also the port and shipping logistics

    Saudi Arabia is stepping up the use of its pipeline network to the Red Sea to keep crude exports moving while the Strait of Hormuz remains heavily disrupted by the war with Iran. The key route is the Abqaiq-Yanbu system, also known as the East-West Pipeline or Petroline, which links Gulf oil fields with the Yanbu terminal on the Red Sea. That infrastructure has become the kingdom’s main escape route around Hormuz, the chokepoint that normally carries about a fifth of global oil and liquefied natural gas supply.

  • Monday, March 16th 2026 - 21:08 UTC

    Cuba suffers nationwide blackout after total collapse of national power grid

    The blackout follows months of accelerating deterioration in Cuba’s power system

    Cuba suffered a nationwide blackout on Monday after the Ministry of Energy and Mines reported a “complete disconnection” of the National Electric System, leaving virtually the entire island without power. The collapse hit a country of roughly 10 to 11 million people and came amid an energy crisis that had already been causing prolonged outages and severe generation deficits.

  • Monday, March 16th 2026 - 01:10 UTC

    Oil tops US$100 a barrel as Middle East war and Hormuz disruption rattle markets

    Tokyo also warned that strategic reserves can soften the shock in the short term but cannot replace a sustained reopening of Hormuz if the crisis drags on

    Oil prices moved back above US$100 a barrel on Monday as the conflict involving the United States, Israel and Iran intensified and shipping disruption in the Strait of Hormuz hit one of the world’s most critical energy chokepoints. Brent crude rose to US$105.15 a barrel and U.S. West Texas Intermediate climbed to US$100.32 in early Asian trading, according to market data.

  • Saturday, March 14th 2026 - 16:07 UTC

    Experts say BR privatization weakened Brazil’s ability to contain fuel prices

    Petrobras lost control of BR Distribuidora in July 2019, and the full privatization was completed two years later under then president Jair Bolsonaro

    According to a report by Agência Brasil, industry specialists and oil-sector groups say what they describe as abusive fuel price increases in Brazil are not explained by international volatility alone. The report cites cases of gasoline being sold for R$9 a liter at some stations in São Paulo and links part of the distortion to the loss of state control over the distribution chain after the privatization of BR Distribuidora.

  • Saturday, March 14th 2026 - 16:03 UTC

    U.S. again backs Argentina in YPF case, urging halt to “intrusive” discovery

    This is not the first time Washington has intervened in Buenos Aires’ favor in the case

    The U.S. government has filed a new memorandum before the Second Circuit Court of Appeals in New York backing Argentina’s request to suspend post-judgment discovery in the YPF expropriation case. Argentina’s Treasury Solicitor’s Office said the filing supports the emergency motion submitted on March 6 seeking to pause document production, a sanctions request and an evidentiary hearing scheduled for April.