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US hits commercial tanker in Gulf of Oman as tensions flare
The ship tried to break through America’s naval blockade of Iranian ports, Central Command says of i...
Tanker Rates Soar to Record as Oil Crisis Becomes Shipping Crisis
The cost of shipping crude oil soared to record highs last month as the Iran war reshuffled trade ro...
Emergency Oil Releases Risk Draining the World’s Last Supply Cushion
Earlier this week, the International Energy Agency, after consulting with G7, said it would release ...
Venezuela Oil Output Could Hit 1.8 Million Bpd By 2030, Rystad Says
Venezuela’s upstream oil sector is attracting its broadest pool of international operators and capital in decades, with established majors expanding their footprints and new operators entering under r ...
U.S. Oil, Gas Drilling Perks Up As Pressure Mounts
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US rising to ...
BP Eyes Bigger U.S. Shale Footprint After Devon Deal Talks
BP has started looking seriously at U.S. shale assets again, including Devon Energy’s Eagle Ford business, as CEO Meg O’Neill pushes the company back toward oil and gas growth. BP entered the data roo ...
Why WTI Is Suddenly Trading $12 Below Brent
Oil prices edge higher as Hormuz diplomacy, soaring freight costs and diesel market fears drive a widening Brent-WTI spread. Oil prices are set for a slight 2% weekly gain, despite rumours that this w ...
EU Shrugs Off Gas Supply Fears Despite Low Storage Levels
The European Union’s natural gas supply remains stable, according to the Gas Coordination Group, which advises the European Commission on coordinating security-of-supply measures in the event of an EU ...
Italy Pushes Refineries to Raise Fuel Output Amid Price Surge
Italy’s industry and energy security ministers will meet with executives from the Italian refining sector in early October to discuss how refineries could raise diesel and gasoline production to help ...
Beijing's Iran Oil Trade Draws Fresh Criticism From Capitol Hill
US lawmakers and national-security experts are pressing President Donald Trump to take tougher action against Chinese entities accused of helping Iran with satellite intelligence, weapons components, ...
EU Pressures UK to Match Its Tariffs on Chinese-Made Cars
The European Union is urging the UK to raise tariffs on China-made cars that would bring its customs policy closer to the bloc’s and remove some barriers to including British products in the “made in ...
WTI Whipsaws as Hormuz Hopes Collide With Diesel Crunch
November WTI crude oil futures spent the week trading a possible reopening of the Strait of Hormuz against the risk that shipping conditions have not normalized. The contract fell to $88.67 Tuesday af ...
U.S.-Iran Talks Revive June Plan for Ending Hormuz Standoff
Politics, Geopolitics & Conflict The U.S. and Iran are back to negotiating over the same basic bargain that briefly ended the war in June: reopen Hormuz, ease the U.S. blockade, and use a temporary ce ...
Aramco Restores East-West Pipeline as War Risk Closes In on Yanbu
Saudi Aramco has restarted its East-West pipeline (Petroline) less than two weeks after attacks knocked out the 7 million bpd system, restoring at least some of the route that has carried the bulk of ...
India Weighs Mandatory Imported Coal Blending as Plant Stocks Crumble
India is weighing ideas to mandate imported coal blending at power plants as coal stocks at many facilities have crumbled amid logistics issues in recent months, government sources with direct knowled ...