The United States imposed sanctions on Thursday against a business network that smuggles Iranian oil disguised as Iraqi oil, as well as sanctions targeting a Hezbollah-controlled financial institution, the Treasury Department said. The network of companies run by Iraqi businessman Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil … Read more

(Reuters) – U.S. net imports of crude oil rose to 4.6 million barrels per day (bpd), its highest since June 2024, data from the Energy Information Administration showed, as export tumbled due to a narrow spread between U.S. West Texas Intermediate crude and Brent. Net imports rose by 2.94 million bpd in the week to … Read more

 U.S. President Donald Trump said on Tuesday that he plans to fill up the U.S. strategic petroleum reserve when the market conditions are right.

(Reuters) – Oil prices were slightly higher on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting as well as trade negotiations. Brent crude was up 54 cents, or 0.8%, to $67.28 a barrel at 1133 GMT, while U.S. West Texas Intermediate crude was up 56 … Read more

Hedge funds sold energy stocks last week at the fastest pace since September 2024 and at the second-quickest clip in the last 10 years, as oil prices fell on easing Middle East tensions, a Goldman Sachs note seen by Reuters on Monday showed. Crude prices tumbled over $10 last week following a cease-fire between Israel … Read more

Japan engages in “unfair” automobile trade with the United States and should increase its imports of U.S. energy resources and other goods to help reduce the U.S. trade deficit, President Donald Trump said in an interview broadcast on Sunday. Tokyo is scrambling to find ways to get Washington to exempt Japan’s automakers from 25% automobile … Read more

Summary Sources say OPEC+ planning 411,000 bpd output boost in August Brent, WTI down 12% this week, most since March 2023 No major supply disruption from Middle East crisis, analysts say (Reuters) – Oil prices edged up slightly on Friday, recovering from a midday drop into negative territory following a report that OPEC+ was planning … Read more

Summary Brent, WTI down 12% this week, most since March 2023 No major supply disruption from Mideast crisis, analysts say Lower US inventories lend some price support (Reuters) – Oil prices rose on Friday but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict … Read more

The U.S. will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. Former President Joe Biden’s administration scheduled 15.8 million barrels of deliveries to the SPR from January through … Read more

(Reuters) – Oil production in North Dakota fell 22,000 barrels-per-day (bpd) to 1,172,000 bpd in April, monthly data from the state Industrial Commission showed. The data was released on the North Dakota Industrial Commission’s monthly index report page and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission’s general … Read more

Startup Gold H2 has successfully produced hydrogen from a depleted California oilfield, and it’s looking to finalize other pilots around the world. Bloomberg Microbes can break down everything from methane to plastic. Now, a startup is pioneering their use to consume oil and produce clean hydrogen. Houston-based Gold H2 has completed a field trial at a retired oilfield … Read more

The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Cheniere Energy’s Sabine Pass export plant in Louisiana was on track to rise to a three-week high on Monday, according to data from financial firm LSEG. Energy traders said that expected increase in gas flows and a notice from Cheniere that the … Read more

Iran’s supreme leader sent his foreign minister to Moscow on Monday to ask President Vladimir Putin for more help from Russia after the biggest U.S. military action against the Islamic Republic since the 1979 revolution over the weekend. U.S. President Donald Trump and Israel have publicly speculated about killing Supreme Leader Ayatollah Ali Khamenei and … Read more

(Reuters) – Goldman Sachs flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday. The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical … Read more

(Reuters) – Oil prices jumped on Monday to their highest since January as Washington’s weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both contracts … Read more

Summary Oil futures rise on the week US imposes new Iran-related sanctions amid diplomatic efforts US oil and natural gas rig count falls for eighth straight week, first time since September 2023 EU abandons proposal to lower Russian oil price cap (Reuters) – Oil prices settled down on Friday as the U.S. imposed new Iran-related … Read more

By Georgina Mccartney HOUSTON, June 20 (Reuters) – Oil prices slipped on Friday as the U.S. imposed new Iran-related sanctions marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide U.S. involvement in the Israel-Iran conflict. Brent crude futures were … Read more

Bloomberg Albert and Gordon Huddleston, part of the H.L. Hunt family, are in advanced talks to sell Aethon Energy Management’s assets to Mitsubishi Corp. for nearly $8 billion. The potential deal would mark a milestone for the father-son duo and their family’s legacy in the oil industry, which spans over a century and began with … Read more

Russia, the United States and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia’s investment envoy Kirill Dmitriev told Reuters. Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East … Read more