By Georgina Mccartney Brent and WTI crude make largest daily drops since April 8 US-Iran negotiations progress, according to media report US military blockade of Iran remains in effect HOUSTON, April 17 (Reuters) – Oil prices settled down by around 9% on Friday after Iran said passage for all commercial vessels through the Strait of … Read more
Energy industry experts say it could be a while before any calm returns to rattled oil markets after Iran’s top diplomat declared the Strait of Hormuz “completely open” to commercial traffic that had all but ceased when war engulfed much of the region seven weeks ago. “It will take several weeks, actually, for things to … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second straight week for the first time since March, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by … Read more
(Reuters) – Investors placed a bet worth about $760 million on a falling oil price around 20 minutes before Iran’s foreign minister announced on Friday that the Strait of Hormuz was open, another sizeable wager on the world’s most traded commodity ahead of major announcements in the course of the Middle East war. Large, well-timed … Read more
(Reuters) – The world has lost over $50 billion worth of crude oil that has not been produced since the Iran war began nearly 50 days ago and the aftershock of the crisis will be felt for months and even years to come, according to analysts and Reuters calculations. Iranian Foreign Minister Abbas Araqchi said … Read more
(Reuters) – Iran’s foreign minister said the Strait of Hormuz, a critical waterway for transporting global oil and gas, was open for all commercial vessels following a ceasefire accord agreed in Lebanon. Here are some quotes from the shipping industry and world leaders on the Iranian declaration. SHIPPING INDUSTRY: KNUT ARILD HAREIDE, CEO OF THE … Read more
By Stefanie Eschenbacher, Stephen Eisenhammer, Laura Gottesdiener and Shariq Khan U.S. law enforcement executed a federal search warrant at Ikon Midstream’s Houston headquarters Company’s attorney said raid was triggered by Reuters’ October 2025 investigation into alleged fuel smuggling No arrests made; fuel trader’s attorney maintains Ikon Midstream engaged in no wrongdoing April 16 (Reuters) – … Read more
April 17 (Reuters) – Slovakia will file a lawsuit in the coming days challenging the European Union’s decision to ban Russian gas imports, adopted by a qualified majority, and will seek a preliminary injunction, Prime Minister Robert Fico said on Friday. The suit will be filed with the EU’s Court of Justice, Fico said, criticising … Read more
By Shadia Nasralla, Stephanie Kelly and Dmitry Zhdannikov Europe’s top-three majors made billions trading in Q1, sources say BP flags ‘exceptional’ trading results Shell, TotalEnergies also report strong trading results Chevron, Exxon fail to capitalise on crisis, shares trail LONDON, April 17 (Reuters) – The trading desks of Europe’s top three oil majors have reaped … Read more
Takeaways by Bloomberg AI A record wave of new liquefied natural gas supply was meant to usher in a prolonged period of lower prices, but the war in the Middle East has caused the world’s worst-ever energy crisis and sent prices higher. The near-closure of the Strait of Hormuz and damage to Qatar’s LNG export plant … Read more
(Reuters) – The Electric Reliability Council of Texas (ERCOT) said electricity demand could rise sharply into the 2030s as an increasing pipeline of data centers drives most of the projected growth, according to a presentation on Wednesday by the grid operator. ERCOT’s preliminary base forecast projects peak electricity demand climbing from about 98,087 megawatts in … Read more
(Reuters) – Oil prices plunged by over 10% on Friday, extending previous losses, after Iran’s foreign minister said that the passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period, in line with that in Lebanon. Brent crude futures dropped by $11.12, or 11.2%, to $88.27 a barrel at 1311 … Read more
It could take up to two years to recover a significant share of oil and gas production that has disrupted by the Iran war, Fatih Birol, executive director of the International Energy Agency, said. The recovery will be gradual as damage from the conflict has affected oil fields, refineries and pipelines across the Persian Gulf, … Read more
Leaders want the vital Strait of Hormuz opened immediately to restore energy flows Some Gulf Arab and European leaders believe that a U.S.-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar with the … Read more
By Tasmin Lockwood Key Takeaways China is on track to more than double U.S. nuclear capacity, reaching nearly 186 GW. The U.S. leads today but ranks second when planned projects are included. Emerging players like India and Uganda are rapidly scaling nuclear capacity from near zero. Based on existing and planned projects, its total capacity … Read more
Takeaways by Bloomberg AI Trump administration officials urged US oil producers to boost output amid a global supply shock caused by the war in Iran. The administration is grappling with the effective closure of the Strait of Hormuz, which has yanked an estimated 16 million barrels per day of crude from the world market. Industry leaders … Read more
The heads of the U.S. Interior and Energy Departments will hold a call on Thursday with CEOs from energy companies including Exxon and Chevron on their potential to boost oil and gas output, an administration official said, as the Iran war hikes global energy prices. The prices, which are returning to levels seen during the aftermath … Read more
(Reuters) – The Iran war has torn open a dangerous rift in global oil markets: physical crude is trading at record highs while futures benchmarks signal calm. That disconnect is forcing consumers, companies and policymakers to navigate without a reliable compass – and it could leave a lasting scar on the global economy. Investors have … Read more
The formation in BC and Alberta is a giant for gas and liquids By Don MacLachlan By Resource Works More News and Views From Resource Works Here No wonder that our Resource Works founder and CEO, Stewart Muir, called the Montney natural-gas reserves in Canada “British Columbia’s economic crown jewel.” The Montney Formation in BC … Read more
(Reuters) – China continued to build the world’s largest stockpile of crude oil in March even as the rest of the world started to draw on inventories to compensate for the loss of millions of barrels from the effective closure of the Strait of Hormuz. China, the world’s biggest crude importer, had surplus oil of … Read more
U.S. forces in the Middle East are postured to restart combat operations if Iran doesn’t agree to a peace deal, Defense Secretary Pete Hegseth told a Pentagon briefing on Thursday. “You Iran, can choose a prosperous future, a golden bridge, and we hope that you do for the people of Iran,” he said. “But if … Read more
Summary US imposes new sanctions on Iran’s oil transportation infrastructure US Treasury secretary warns of secondary sanctions on buyers, including Chinese banks Moves come as the US enforces maritime blockade on Iran (Reuters) – The United States on Wednesday threatened to sanction buyers of Iranian oil and said it believed China would pause such purchases … Read more
(Reuters) – U.S. President Donald Trump issued several pipeline permits on Wednesday, including one for the construction of a new pipeline, to facilitate the transportation of crude oil and petroleum products between the U.S. and Canada, according to documents released by the White House. The permit authorizing construction was issued to the Bakken Pipeline Company … Read more
By Ari Natter The Trump administration is unlikely to issue a new a waiver allowing countries to buy sanctioned Russian oil as part of any efforts to tame high fuel prices, Energy Secretary Chris Wright said. “That was a broad-based reprieve,” Wright said Wednesday at an event held by the Wall Street Journal. “I don’t … Read more
There’s been some good momentum toward elevating Canada’s status as a global oil and gas supplier, but the industrial carbon price is eroding its competitive edge, says the head of the Canadian Association of Petroleum Producers.
“We’re still talking…
By Emma Sanchez NOV Inc., one of the biggest US makers of oilfield gear, slashed its earnings guidance for the first quarter as the war in the Middle East raises costs and snarls equipment deliveries. Safety and logistical problems from the conflict dented revenue by about $54 million and adjusted earnings by around $32 million, … Read more
Summary US expresses optimism on reaching a deal with Iran Iran offers proposal allowing ships to exit Oman side of Hormuz free of attack US crude, fuel stocks fall on strong export demand (Reuters) – Oil prices rose on Thursday, reversing earlier declines as the market questioned whether peace talks between the U.S. and Iran … Read more
(Reuters) – EagleRock, a company that collects royalties and fees from oil and gas production on the land it controls in the Permian Basin, is exploring a U.S. initial public offering that could value it at up to $2 billion, people familiar with the matter said. The Houston-based firm has hired Goldman Sachs on the … Read more
Summary Net imports of US crude narrows to lowest on record last week US exports climb to seven-month high on wide Brent-WTI spread US exports near capacity limits, analysts and traders say (Reuters) – The U.S. nearly turned into a net crude exporter last week for the first time since World War Two as … Read more
(Reuters) – Reports that the White House has requested a ceasefire in the Iran war are wrong, press secretary Karoline Leavitt told reporters on Wednesday but added that discussions about a second round of talks with the Iranians were ongoing and productive. Speaking at a White House press briefing, Leavitt said any fresh talks would … Read more
(Reuters) – Iran could consider allowing ships to sail freely through the Omani side of the Strait of Hormuz without risk of attack as part of proposals it has offered in negotiations with the United States, providing a deal is clinched to prevent renewed conflict, a source briefed by Tehran said. The U.S.-Israeli war with … Read more
(Reuters) – Qatar may extend its force majeure on gas supplies beyond mid-June, Italian importer Edison said on Wednesday, while predicting the gap will be plugged by U.S. supply instead of Russian gas. Speaking in a media briefing, Edison CEO Nicola Monti and its head of gas portfolio management Fabio Dubini said the Italian group … Read more
(Reuters) – Iran can withstand a complete halt in oil exports of up to two months before being forced to curb production, analysts said, after the U.S. began blocking shipping in and out of the country’s ports on April 13. The blockade could prevent roughly 2 million barrels per day (bpd) of Iranian crude from … Read more
New analysis reveals deepening inventory optionality alongside growing development sequencing risk across the basin CALGARY, Alberta (Apr. 15, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released its latest report, Permian Basin Play Fundamentals: The Intervals Keep Coming. As global supply uncertainty and price volatility weigh on capital … Read more
By Salma El Wardany and Eric Martin The US and Iran are considering extending their ceasefire that ends on Tuesday by another two weeks to allow more time to negotiate a peace agreement, according to a person familiar with the matter. Mediators between the warring sides are trying to set up technical talks to resolve … Read more
By Javier Blas It feels like an eternity, but it was only a decade ago when the political center-left was still for “all of the above” energy sources: fossil fuels and renewables alike. It was the not-so-distant days of Barack Obama, when the US president defended fracking as a force for good, saying there wasn’t … Read more
(Reuters) – The United States and Iran made progress in talks on Tuesday and are moving closer to a framework agreement to end the war, Axios reported on Wednesday, citing two US officials. Reporting by Kanjyik Ghosh in Barcelona;
(Reuters) – U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 913,000 barrels to 463.8 million barrels in the week ended April 10, the EIA said, compared with analysts’ expectations in a Reuters poll for a 154,000-barrel rise. Crude stocks at the Cushing, … Read more
Trump’s upbeat assessment of the prospects for diplomacy boosted market sentiment, with stocks steadying on Wednesday By Patrick Sykes, Arsalan Shahla and Weilun Soon U.S. President Donald Trump played down the prospect of renewed fighting in the war with Iran, even as questions remain over Tehran’s nuclear program and access to the Strait of Hormuz. … Read more
By Robert Cyran NEW YORK, April 14 (Reuters Breakingviews) – For every problem, there’s a ready-made easy solution that is also just plain wrong. A ban on U.S. oil exports fits into the category. Prices for crude and the products made from it are rising because of disruption in the Strait of Hormuz. Asian and … Read more
(Reuters) – Goldman Sachs on Tuesday flagged both upside and downside risks to its average 2026 crude forecasts for Brent/WTI at $83/78 per barrel, citing growing uncertainty around Middle East developments and oil flows through the Strait of Hormuz. Reduced flows through Hormuz pose the biggest upside risk to Goldman’s price forecasts, with estimated oil … Read more
By Mike Dolan Global investors and the International Monetary Fund seem to agree the Iran war is likely over – bar the shouting. The energy market is less sure, and there could be an awful lot of shouting, but many asset prices have returned to square one, and markets now see the conflict’s impact only … Read more
Canadian oil and gas producers anticipate sharply higher profits in 2026 as prices surge due to the Iran war but will channel those earnings back to shareholders rather than invest in major new capital projects, senior executives said on Tuesday. At an annual conference in Toronto, the executives acknowledged their companies’ financial fortunes have changed … Read more
Commodities supercycles can reshape markets for years, if not decades. We appear to be in one again, as the Iran war has amplified several long-term bullish trends. The question for many investors has shifted from whether to engage with the supercycle to how. Following the initial U.S.-Israeli strike on Iran on February 28, oil recorded … Read more
A plurality of investors expect benchmark Brent oil to trade between $80 and $90 a barrel by the end of this year, according to a BofA survey of fund managers published on Tuesday, down from its current level just under $100. Investor sentiment was also at its most bearish in 10 months, but few are … Read more
(Reuters) – U.S. Treasury Secretary Scott Bessent on Tuesday said China had been an unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of some goods, mirroring its actions with medical goods during the COVID-19 pandemic. Bessent told reporters he had spoken with Chinese officials about the issue. He … Read more
Summary Hormuz strait remains largely shut despite ceasefire U.S. to end waivers on Iranian and Russian oil Official U.S. oil inventory data due Wednesday (Reuters) – Oil prices rose after steep falls in the previous session as shipping through the Strait of Hormuz remained constrained, outweighing expectations of renewed U.S.-Iran talks aimed at ending the … Read more
(Rueters) – U.S. energy company Williams Cos CEO Chad Zamarin said on Tuesday the long-delayed Constitution natural gas pipeline from Pennsylvania to New York could be operational as soon as the end of 2027, if all goes as planned with the controversial project. Zamarin made the comments in Brooklyn, New York, at the groundbreaking of … Read more
U.S. electric utilities expect to spend $1.4 trillion on power lines and other infrastructure-related costs over the next five years, raising concerns about rising power bills ahead for American homes and businesses, according to research released on Tuesday. * Utilities’ five-year capital expenditure plans rose 20% from last year’s reported plans, said PowerLines, a nonprofit … Read more
(Reuters) – The Trump administration will allow a 30-day waiver of sanctions on Iranian oil at sea to expire later this week, two administration officials told Reuters on Tuesday, as the U.S. imposes a blockade on shipments from Iranian ports. The move signals that “Treasury is going full force on Economic Fury,” on Iran, an … Read more
(Reuters) – U.S. Democratic Congressman Ritchie Torres on Tuesday wrote to U.S. market regulators pushing for an investigation into large oil trades placed just hours before the announcement of the U.S.-Iran ceasefire that Reuters first reported last week. Torres, who wrote to regulators last week to push for a probe into lucrative recent trading activity … Read more
By Shadia Nasralla BP had upstream/downstream structure before 2020 transition push No clear timeline set yet for reorganisation Meg O’Neill became CEO on April 1 LONDON, April 14 (Reuters) – BP (BP.L) will reorganise into two main business units – upstream and downstream – under new CEO Meg O’Neill, who took the helm on April … Read more
By Scott Disavino Pipeline constraints in Permian region trap gas, causing record negative Waha Hub prices California power and gas prices turn negative amid low demand and abundant hydropower NWRFC projects above-normal water flows at Dalles Dam, boosting hydropower supply in Northwest NEW YORK, April 14 (Reuters) – U.S. spot power and natural gas prices … Read more
A third Iran-linked tanker was entering the Gulf via the Strait of Hormuz on Tuesday on the first full day of the U.S. blockade on vessels calling at Iranian ports, shipping data showed. U.S. President Donald Trump announced the blockade on Sunday after weekend peace talks in Islamabad between the U.S. and Iran failed to … Read more
Capitalizing Canada’s role in an increasingly competitive global energy system. The global energy system is entering a period of intensified competition for energy security, supply, capital and long-term market access, as recent expansion across LNG, nuclear and export infrastructure moves into its next phase. Investment is concentrating in jurisdictions that can deliver reliable supply, scalable … Read more
IEA slashes oil demand growth forecast, citing Middle East and Asia-Pacific contraction Strait of Hormuz closure and attacks cause largest oil supply disruption in history, IEA reports IEA warns resuming Hormuz flows is critical; alternative scenario sees deeper supply, demand shocks (Reuters) – The Iran war will force both global oil supply and demand … Read more
(Reuters) – Morgan Stanley left its Brent crude oil price forecasts unchanged on Monday, at $110 a barrel for the second quarter of 2026 and $100 a barrel in the third quarter, falling to $80 a barrel in 2027. The bank said it expected oil supply chains to take months to normalise even if a … Read more
By Sheila Dang, Marianna Parraga and Deisy Buitrago Chevron relinquishing Loran gas field Chevron signs pacts for expansion in the Orinoco Belt New areas, reassignments come after law reform approval CARACAS/HOUSTON, April 13 (Reuters) – Chevron (CVX.N) signed two agreements on Monday to expand operations at Venezuela’s vast Orinoco Belt, including an asset swap adding … Read more
Summary US, Iran leave door open for dialogue after tense talks US begins blockade of Iran’s ports IEA cuts global oil supply, demand growth forecasts (Reuters) – Oil prices fell on Tuesday as signs of possible talks to end the U.S.-Israeli war on Iran eased supply fears stemming from the blockade of the Strait of … Read more
(Reuters) – OPEC on Monday lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, citing the impact of the war in the Middle East, the producer group’s monthly oil report showed on its website. Global oil demand is projected to average 105.07 million bpd in the second quarter, … Read more
Summary Trump announces US naval blockade of Strait of Hormuz Democratic senator questions Trump’s strategy Trump’s approval rating slumping since war on Iran began MIAMI, April 12 (Reuters) – U.S. President Donald Trump said on Sunday that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political … Read more
By Trevor Hunnicutt and Parisa Hafezi Trump says Iranians want to make a deal US, Pakistani officials says talks continue Iran warns of harsh response to maritime blockade Oil prices jump back over $100 NATO allies refuse to join in WASHINGTON/DUBAI, April 13 (Reuters) – The U.S. military began a blockade of ships leaving Iran’s … Read more
By Valerie Volcovici WASHINGTON, April 13 (Reuters) – Oil prices are likely to hit their peak “in the next few weeks” once ship traffic resumes through the Strait of Hormuz, U.S. Department of Energy Secretary Chris Wright said on Monday. Prices are expected to continue rising until “meaningful” ship traffic resumes through the strait, Wright … Read more
(Reuters) – The head of the International Energy Agency, Fatih Birol, said on Monday he hopes another oil stockpile release is not needed but “we stand ready to act” if the energy shock resulting from the war with Iran requires it. The 32-member IEA agreed last month to release 400 million barrels of oil from … Read more
(Reuters) – The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades. Even if the current, shaky ceasefire holds, the uneasy “new normal” has likely set the stage for yet another round of conflict. Tehran has now demonstrated … Read more
(Reuters) – The United States’ NATO allies said on Monday they would not get involved in President Donald Trump’s plan to blockade the Strait of Hormuz, further ratcheting up tensions within the increasingly fragile alliance. Trump said the U.S. military would work with other countries to block all maritime traffic in the waterway, after weekend … Read more
By Julian Hast US natural gas futures rose alongside oil prices as renewed risk to energy flows out of the Persian Gulf triggered financial inflows into baskets of energy products. Weather forecasts also shifted cooler, indicating modestly higher demand for the heating and power-plant fuel. The front-month US gas contract ended last week at the … Read more
A full blockade could halt the remaining flows and threaten economies far beyond the Middle East By Weilun Soon and Clara Ferreira Marques U.S. President Donald Trump’s plan for a full naval blockade of the Strait of Hormuz threatens to deepen an already unprecedented crisis in one of the world’s most important energy-producing regions. The … Read more
(Reuters) – The European Union’s member states must coordinate on energy prices amid a 22 billion euro ($25.70 billion) increase in fossil fuel bills since the start of the Iran war, EU Commission President Ursula von der Leyen said on Monday. “We’re also looking into … coordination of member states’ gas storage filling to … Read more
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Summary US says it will block shipping in and out of Iran on Monday Blocking Iran shipments would take a major source of oil offline Iran exported 1.84 million barrels per day of crude in March (Reuters) – The U.S. military said it would block shipping traffic in and out of Iran’s ports starting … Read more
Summary US to start blockading vessels later on Monday from reaching Iranian ports Two Pakistani tankers enter the Gulf on Sunday Malta-flagged tanker makes U-turn at Hormuz (Reuters) – Oil tankers are steering clear of the Strait of Hormuz ahead of a U.S. blockade later on Monday following failed peace talks between the U.S. and … Read more
Summary Iran peace talks yield no agreement Trump vows to blockade Strait of Hormuz Military vessels approaching strait to be viewed as ceasefire breach – Iran’s Guards (Reuters) – Oil prices jumped back above $100 a barrel on Monday as the U.S. Navy prepared to block ships to and from Iran via the Strait of … Read more
Iran’s Revolutionary Guards said on Sunday that any military vessels attempting to approach the Strait of Hormuz will be considered a violation of the two-week U.S. ceasefire and be dealt with harshly and decisively. The strait is under the control and ‘smart management’ of Iran’s Navy, the Guards said in a statement reported by … Read more
Iran aims to restore majority of refining capability within two months, oil ministry official says Iran expects to restore most damaged refining and distribution facilities to 70–80% of their pre-attack capacity within one to two months, a senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure. Deputy … Read more
President Donald Trump on Sunday said the U.S. Navy would immediately start blockading the Strait of Hormuz and would also interdict every vessel in international waters that had paid a toll to Iran. Trump made his remarks in a Truth Social post hours after U.S-.Iran peace talks ended without a deal. Trump said the meeting … Read more
Saudi Arabia has restored full oil pumping capacity through the East-West pipelineto about seven million barrels per day, it said on Sunday, days after providing an assessment of damage on its energy sector from attacks during the Iran conflict. The ministry said energy facilities and the pipeline affected by attacks during the conflict have recovered … Read more
(Reuters) – U.S. Gulf Coast refiners are reaping the strongest margins in years as disruptions to Middle Eastern oil flows from the Iran war raise demand for U.S. fuel exports, analysts and experts said. Asian and European refiners have been hit hard by a slump in Middle Eastern crude exports due to Iran’s blockade of … Read more
(Reuters) – Vice President JD Vance said on Friday he was looking forward to having positive negotiations with Iran as he left for talks in Pakistan with a warning to Tehran not to “play us.” “We’re looking forward to the negotiation. I think it’s going to be positive,” Vance told reporters before leaving Washington. “As … Read more
(Reuters) – The U.S. Department of Energy said on Friday it had loaned 8.48 million barrels of crude oil from the Strategic Petroleum Reserve to four oil companies, the second allotment under the Trump administration’s effort to curb fuel prices that have surged during the U.S.-Israeli war on Iran. The companies that have been awarded … Read more
By Siddharth Cavale Attacks have cut Saudi oil output by 600,000 bpd, state news agency says Shipping at near-standstill in Strait of Hormuz Brent down 12.7%, WTI down 13.4% this week Russia’s crude exports from western ports has increased Baker Hughes says U.S. rig count down 7% NEW YORK, April 10 (Reuters) – Oil futures … Read more
HOUSTON, April 10 (Reuters) – U.S. federal regulators on Friday approved a request by NextDecade (NEXT.O) to increase the peak number of construction workers at its Rio Grande LNG project in Texas, according to a regulatory filing. NextDecade told regulators that global geopolitical tensions had heightened demand for U.S. LNG, prompting developers to move quickly … Read more
By Dmitry Zhdannikov, Jarrett Renshaw and Timothy Gardner Waiver part of US effort to control fuel prices during war Russia, Iran waivers criticized by US lawmakers in both parties Waiver expires at midnight EDT on Friday WASHINGTON, April 10 (Reuters) – U.S. President Donald Trump’s administration is likely to extend as soon as Friday a … Read more
By David Lawder Rising gas prices threaten to offset tax refund gains, especially for lower-income Americans Wealthier taxpayers benefit more from new deductions, data from Tax Foundation and IRS shows Economists cut US consumption, GDP forecasts due to higher energy cost WASHINGTON, April 10 (Reuters) – U.S. President Donald Trump in February touted this year’s … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by three to 545 in … Read more
(Reuters) – Shale producer Occidental Petroleum said on Friday its worldwide average realized oil prices fell about 1.6% year-on-year in the first quarter, despite higher benchmark crude rates amid Middle East-related energy market disruption. The U.S.-Israel war on Iran has caused a massive disruption of energy supplies as the Strait of Hormuz, a conduit for … Read more
(Reuters) – The majority of ships that have sailed through the Strait of Hormuz in the past day were linked to Iran, ship tracking data showed on Friday, with other vessels putting off making voyages despite a two-week ceasefire agreed this week between Tehran and Washington, according to data and shipping sources. Three tankers – … Read more
(Reuters) – U.S. President Donald Trump warned Tehran not to charge tolls on ships crossing the Strait of Hormuz, as a mounting global energy crisis prompted Japan on Friday to announce a further emergency oil release. The Iran war has damaged Gulf energy production, stranded tanker traffic, and boosted oil prices by about 50% in … Read more
DENVER, April 9, 2026 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) today closed the previously announced all cash sale of its Anadarko assets, located in Oklahoma, for $3.0 billion. After customary closing adjustments, proceeds from the sale are expected to total approximately $2.85 billion. “The Anadarko sale completes the transformation of our … Read more
Summary Commonwealth secures enough LNG sales to begin project financing process Glencore’s total LNG offtake rises to 3 mtpa, EQT’s to 2 mtpa, filing shows EQT’s new contract replaces JERA’s terminated volumes HOUSTON, April 9 (Reuters) – EQT Corp and Glencore have each agreed to buy an additional 1 million metric tons per annum of liquefied natural … Read more
Summary Attacks have cut Saudi oil output by 600,000 bpd, state news agency says Shipping at near-standstill in Strait of Hormuz Brent down 12.7%, WTI down 13.4% this week Russia’s crude exports from western ports has increased Baker Hughes says U.S. rig count down 7% (Reuters) – Oil futures settled lower on Friday and posted … Read more
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(Reuters) – Producers in the Middle East have asked Asian refiners to submit crude oil loading programmes for April and May in preparation for the eventual resumption of shipping through the Strait of Hormuz, three sources with knowledge of the matter said. A two-week ceasefire deal between the U.S. and Iran announced on Wednesday lifted hopes for … Read more
By Kevin Crowley The surge in oil and natural gas prices from the Iran war might seem like good news for the world’s biggest energy companies, but disruptions to production in the region, shipping blockades and hedging losses make the reality far more complicated. Exxon Mobil Corp. and Chevron Corp. lost about 6% of their … Read more
President Donald Trump said on Thursday Iran should not charge fees to tankers going through the Strait of Hormuz, which has been blockaded since the start of the Iran war, causing the worst disruption to global energy supplies in history. “There are reports that Iran is charging fees to tankers going through the Hormuz Strait,” … Read more
Attacks on Saudi energy facilities have cut the kingdom’s oil production capacity by around 600,000 barrels per day and the throughput on its East-West pipeline by about 700,000 bpd, Saudi state news agency SPA reported on Thursday, citing an official source at the energy ministry. The attacks, including previous strikes on some facilities, also disrupted … Read more
ConocoPhillips said on Thursday it is sending a small evaluation team to Venezuela this week to evaluate oil and gas opportunities. The U.S. oil producer left the South American country in 2007 after its assets there were nationalized. The company is owed about $12 billion with interest following arbitration awards stemming from the expropriations. ConocoPhillips said … Read more
The Trump administration said on Thursday that it was offering to loan up to 30 million barrels of crude oil from the West Hackberry Strategic Petroleum Reserve site, marking the third solicitation of proposals from oil companies since fuel prices spiked due to the U.S.-Israeli war on Iran. Companies can submit proposals to exchange oil … Read more
Missed deadlines for contract review delay investment decisions Some firms await contract details before moving forward Meetings with officials yield limited information (Reuters) – Energy companies evaluating whether to invest in Venezuela are waiting for the OPEC nation’s oil ministry to release contract models that will provide specific terms to continue, expand or start businesses … Read more
(Reuters) – Iran will move the management of the strategic Strait of Hormuz into a new phase, its Supreme Leader Ayatollah Mojtaba Khamenei said on Thursday in a statement read out on state TV. “Iran is not seeking war but will not forfeit its rights and considers all resistance fronts as a unified entity,” Khamenei … Read more
(Reuters) – Iran’s Islamic Revolutionary Guard Corps (IRGC) warned ships to keep to a route passing through its territorial waters when crossing the Gulf’s Strait of Hormuz as traffic on Thursday remained well below 10% of normal volumes. Mitsui O.S.K. Lines, one of Japan’s big three shipping firms, is among those caught up in the … Read more
The huge relief rally across global markets and oil price plunge sparked by the ceasefire in the Iran war are no surprise. What follows, once the initial euphoria dissipates, is far less certain – and far less rosy than investors seem to believe. And the euphoria should dissipate pretty quickly. Leaving aside the very real … Read more
(Reuters) – Imposing a toll on ships sailing through the critical Strait of Hormuz would “set a dangerous precedent” and countries should not impede freedom of navigation, the UN’s shipping agency said on Thursday. Iranian officials have raised the idea of charging a toll for using the Strait after a two-week ceasefire between the United … Read more
(Reuters) – Iran will allow no more than 15 vessels a day to pass through the Strait of Hormuz under the ceasefire agreement it agreed with the United States, Russia’s state TASS news agency quoted an unnamed senior Iranian source as saying on Thursday. The Strait, a strip of water only 34 km (21 miles) … Read more
The U.S. and Iran are set to hold peace talks in Pakistan, which has been mediating, but remain deeply divided on key issues, even though President Donald Trump has said proposals presented by Tehran were a “basis” for talks. Each side is sticking to competing demands for a deal to end the war that could … Read more
Summary LNG price surge and supply chain disruption hit poorer Asian buyers hardest, Ydreos says Reliability concerns prompt some Asian countries to reconsider LNG in energy transition plans Gulf producers’ reputations impacted, with Qatar’s supply reliability now under scrutiny (Reuters) – A Middle East ceasefire signals de-escalation, but the conflict has scarred the global LNG … Read more
(Reuters) – Chevron said on Thursday it expected a $1.6 billion boost to $2.2 billion to its first-quarter upstream earnings versus the fourth quarter of 2025, driven by surging oil and gas prices from volatility linked to the Iran war. The conflict, which began on February 28, sent oil prices skyrocketing as much as 65%, … Read more
(Reuters) – Goldman Sachs trimmed its second‑quarter 2026 forecasts for Brent and U.S. crude to $90 and $87 a barrel, respectively, late on Wednesday, after the U.S. and Iran agreed on a two-week ceasefire. Previously, the bank forecast Brent and West Texas Intermediate (WTI) oil prices to average $99 and $91 a barrel, respectively. “Given … Read more
Summary Market struggles to price clear path for Hormuz reopening Shipping traffic through Hormuz at virtual standstill despite ceasefire, data shows Strikes across Gulf raise supply threats despite ceasefire (Reuters) – Oil prices rose over 3% on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of … Read more
U.S. President Donald Trump said on Wednesday its military ships and aircraft will remain around Iran and threatened that the U.S. will start “shooting” again unless Tehran fully complies with the deal reached with Washington. “All U.S. Ships, Aircraft, and Military Personnel, with additional Ammunition, Weaponry… will remain in place in, and around, Iran, until … Read more
Summary Iran has made clear passage subject to conditions, ADNOC CEO says Global economic stability depends on unconditional reopening, he says UAE oil output halved after strait’s effective closure, Reuters has reported ADNOC loading oil cargoes, will expand output within constraints of damage suffered (Reuters) – The Strait of Hormuz is shut and Iran must … Read more
The war that closed the Strait of Hormuz has ended – for now. But Tehran’s demand to act as toll booth keeper at the world’s most critical oil chokepoint could leave energy markets vulnerable and hardwire higher prices for years to come. The U.S. and Iran agreed on Tuesday to a two-week ceasefire brokered by … Read more
* Ceasefire fails to halt Israel-Hezbollah fighting, Israeli strikes kill 254 in Lebanon * US, Iran declare victory but core disputes unresolved, Strait of Hormuz remains restricted * Financial markets rally on truce, oil prices drop 14%, stock markets surge * US and Iran set for talks in Pakistan as the nations dispute nuclear … Read more
HOUSTON, April 8 (Reuters) – Exxon Mobil Corp (XOM.N) plans overhauls in the spring and at the end of this year at its 612,000 barrel-per-day Beaumont, Texas refinery, said people familiar with plant operations. In May, Exxon plans to shut the 60,000-bpd coker for a planned overhaul that will continue into June, the sources said. … Read more
By Amanda Cooper, Alex Lawler and Ahmad Ghaddar Investors sold 8,600 oil futures lots before US-Iran ceasefire, LSEG data shows Large single trades are rare, typically spread across exchanges to avoid price impact Oil trading volumes and volatility have surged since the war, hitting record highs LONDON, April 8 (Reuters) – Investors placed an approximately … Read more
(Reuters) – U.S. crude production is expected to decline through the mid-2030s, with global crude futures trading below $70 per barrel through 2030, the U.S. Energy Information Administration said in its Annual Energy Outlook on Wednesday. The U.S. is expected to produce between 12.4 million and 12.7 million barrels per day of crude by 2050, … Read more
(Reuters) – When the history books of the Iran war are written, Tuesday night into Wednesday morning may well rank among the most anxious hours for the modern Gulf. After U.S. President Donald Trump warned Iranians that “a whole civilization will die tonight”, residents from Kuwait to Abu Dhabi, whether lying sleepless or jolted awake, … Read more
(Reuters) – The United States, Israel and Iran have agreed to a two-week ceasefire, reached with Pakistani mediation, and U.S. and Iranian officials are expected to hold talks on Friday to discuss a long-term settlement. While Tehran and Washington have agreed to talks, Iran’s 10-point proposals – which U.S. President Donald Trump said offered a … Read more
(Reuters) – Remember global imbalances? They’re back. In a fractured world increasingly marked by self-interest and protectionism, the prospects for a coordinated response among the major economic powers to fix them and avert a crisis look remote. The U.S. current account deficit – and the corresponding surpluses of China, oil producers, the euro zone, and … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.1 million barrels to 464.7 million barrels in the week ended April 3, the EIA said, compared with analysts’ expectations in a Reuters poll for a 701,000-barrel rise. Crude stocks … Read more
(Reuters) – The Iranian navy threatened ships attempting to pass through the Strait of Hormuz without Tehran’s permission with destruction, adding that transit through the waterway remained shut, according to several shipping sources. “Any vessel trying to travel into the sea… will be targeted and destroyed…” the message said. Reporting by Ahmad Ghaddar, Renee Maltezou, … Read more
GCC growth forecast cut to 1.3% for 2026 due to lower hydrocarbon revenues Kuwait and Qatar economies expected to contract this year World Bank warns of lingering risks for the region DUBAI, April 8 (Reuters) – The World Bank has slashed its 2026 growth forecast for Middle East economies as a consequence of the war … Read more
Baker Hughes to supply three NovaLT™16 gas turbines with three centrifugal compressors and related services for a pipeline project to support Argentina’s LNG exports These gas compression units mark the first use of Baker Hughes’ NovaLT™ gas turbine technology in South America, reflecting growing demand for high-efficiency, lower-emissions turbomachinery HOUSTON and LONDON, April 07, 2026 … Read more
CALGARY, Alberta, April 08, 2026 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR), a Canadian based, internationally focused energy transition company with active Central Asian operations is pleased to provide an operational update on its Uzbekistan project. The Kumli-46 horizontal well (“K-46”) was drilled to a total depth of 3,150 meters … Read more
FRISCO, TX, April 08, 2026 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (NYSE:CRK) plans to release its first quarter 2026 results on May 5, 2026 after the market closes and host its quarterly conference call at 10:00 a.m. CT on May 6, 2026 to discuss the first quarter results. Parties interested in participating in the conference call telephonically … Read more
(Reuters) – Iran’s Revolutionary Guards said on Wednesday that they attacked overnight energy complexes and oil transfer lines linked to the U.S. and Israel, including oil facilities in Saudi Arabia’s port city Yanbu, state media reported. Reporting by Reuters; Editing by Hugh Lawson
New Delhi, April 8 (Reuters) – India expects the United States to extend its waiver on purchase of Russian oil to bring down global oil prices, a government source said on Wednesday. Reporting by Nidhi Verma; Editing by YP Rajesh
By Pooja Menon, Joel Jose and Danilo Masoni April 8 (Reuters) – U.S. and European energy stocks slid on Wednesday, as a ceasefire to the Middle East conflict punctured the hefty war premium built into oil prices due to fears of supply disruption through the Strait of Hormuz. Oil fell below $100 per barrel after … Read more
(Reuters) – U.S. President Donald Trump on Wednesday said any country supplying Iran with military weapons will face immediate 50% tariffs with no exemptions, announcing the duty in a social media post one day after agreeing to a two-week ceasefire with Tehran. Reporting by Susan Heavey; Editing by Sharon Singleton
By Yi-Chin Lee, Julie Zhu and Alessandro Parodi IATA chief Walsh says months before jet fuel supplies recover Refinery damage may delay jet fuel supply recovery, says Walsh Delta expects $2 bln extra costs from jet fuel in Q2 Airline shares rally on ceasefire and Hormuz reopening hopes TUI assessing how to get stranded cruise … Read more
Iran could open the Strait of Hormuz in a limited and controlled way on Thursday or Friday ahead of a meeting between U.S. and Iranian officials in Pakistan, a senior Iranian official, involved in the talks, told Reuters on Wednesday. “If an understanding on a framework for talks is reached, the strait could be opened … Read more
Summary Upstream earnings could gain from higher oil and gas prices Exxon to release full Q1 results on May 1 Downstream earnings hit by timing effects, but Exxon expects profits to rebound in later quarters CFO Hansen says negative impacts from trading program are temporary and will unwind over time (Reuters) – Higher oil and … Read more
A ceasefire in the Iran war will deliver badly-needed relief to economies battered by the world’s worst ever energy crisis, but hopes the truce will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced. U.S. President Donald Trump on Tuesday agreed to a two-week ceasefire, conditional on Iran pausing … Read more
U.S. President Donald Trump said on Tuesday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure. Oil dived, bonds rallied and stocks surged as the ceasefire was seen as paving the … Read more
Asset integrity in oil and gas has never been more critical—or more complex. With aging infrastructure, increasing regulatory pressure, and the growing demand for operational efficiency, traditional inspection methods are no longer enough to keep up. At its core, asset integrity management is about reducing the risk of failure, particularly from issues like corrosion, cracking, … Read more
(Reuters) – Nearly six weeks of war in Iran have ended, for now, with President Donald Trump claiming victory, but the U.S.-Iran ceasefire locks in a harsh reality: an entrenched, radical government with control over the Strait of Hormuz and a powerful lever over global energy markets and Gulf rivals, analysts say. The shockwaves have … Read more
Summary Iran says it will open up Strait of Hormuz for two weeks if attacks stop Trump says Iran has offered a 10-point peace proposal Uncertainties still create room for geopolitical premium (Reuters) – Oil fell below $100 a barrel on Wednesday after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran, subject … Read more
A planned two-week ceasefire between the United States and Iran and negotiations to end their conflict may mark the first genuine attempt to de-escalate, but there’s still much to be concerned about the world of pain physical oil markets are in. Crude oil futures responded to the news by plunging, with Brent contracts dropping as … Read more
U.S. President Donald Trump said on Wednesday the United States will help with the buildup of shipping traffic in the Strait of Hormuz. Trump on Tuesday agreed to a two-week ceasefire with Iran less than two hours before his deadline for Tehran to reopen the strait or face attacks on its civilian infrastructure. Trump said … Read more
Oil dived, bonds rallied and stocks surged on Wednesday as a two-week ceasefire in the Middle East was seen as paving the way for a lasting peace and resumption of Gulf oil and gas exports. U.S. President Donald Trump said he agreed to suspend bombing and attacks on Iran for two weeks and that a … Read more
April 7 (Reuters) – House Democrats questioned the legality of the Trump administration’s deal to return nearly $1 billion to TotalEnergies (TTEF.PA) to stop the development of two U.S. offshore wind farms, according to letters sent to administration officials and the French energy company. U.S. Representatives Jared Huffman and Jamie Raskin, both Democrats, sent a … Read more
By Curtis Williams Freeport LNG requests FERC approval to demolish obsolete Texas import facilities US shift from LNG importer to top exporter driven by shale revolution Company says removal will improve safety and reduce maintenance on unused assets HOUSTON, April 7 (Reuters) – Freeport LNG has asked U.S. regulators for permission to demolish facilities in … Read more
By Timothy Gardner WASHINGTON, April 7 (Reuters) – A group of Democratic U.S. senators on Tuesday pressed Treasury Secretary Scott Bessent on whether enormous tankers that ship liquefied natural gas qualify for a lucrative tax credit meant for smaller boats that burn the fuel. Here are details about the issue. The Alternative Fuel Excise Tax … Read more
It may take months to begin to see the uptick in production from shale fields in places like the Permian Basin By David Wethe and Kevin Crowley United States shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so. The 68 per cent … Read more
Bakken oil traded at the Clearbrook, Minnesota, hub shot up to an US$18 premium By Robert Tuttle and Christopher Charleston The spiderweb of cracks in the global oil market are spreading across the Rocky Mountains and U.S. Great Plains as demand for a shrinking pool of accessible crude escalates. Oil grades from Texas and North … Read more
(Reuters) – U.S. power consumption, which hit its second straight annual record high in 2025, will rise further in 2026 and 2027, the Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours (kWh) in 2025 to 4,244 billion kWh in … Read more
(Reuters) – Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the U.S. Energy Information Administration said on Tuesday, deviating from President Donald Trump’s assurances that consumers will see immediate relief when he ends the war with Iran. The U.S.-Israeli war with Iran, now in its second month, has sent … Read more
(Reuters) – Global markets have entered a period of heightened uncertainty ahead of a deadline set by U.S. President Donald Trump for Iran, with investors weighing various outcomes ranging from a ceasefire to renewed military escalation and their implications for oil, currencies and risky assets. Iran showed no sign of agreeing to Trump’s demand that … Read more
(Reuters) – The leaders of the International Energy Agency, the International Monetary Fund and the World Bank will discuss the energy crisis triggered by the Iran war next Monday, IEA executive director Fatih Birol said on Tuesday. “This energy crisis calls for all hands on deck & international cooperation,” Birol said on social media platform … Read more
April 7 – Governments worldwide are trying to shield consumers from soaring energy costs resulting from the U.S.-Israeli war on Iran. Here’s how different countries are responding: INDIA India will review its fuel exports if needed to ensure availability in the local markets, a government official said. India is assessing fuel-supply requests from its neighbours … Read more
MOSCOW, April 7 (Reuters) – NORSI, Russia’s fourth-largest oil refinery, suspended operations on April 5 following a Ukrainian drone attack, two industry sources said on Tuesday. The temporary closure of the refinery will add further uncertainty to Russia’s energy sector, which has been hit by continuous Ukrainian attacks, including those hitting its major oil exporting … Read more
PARIS, April 7 (Reuters) – The current oil and gas crisis triggered by the blockade of the Strait of Hormuz is “more serious than the ones in 1973, 1979 and 2022 together”, Fatih Birol, the head of the International Energy Agency (IEA), told Le Figaro newspaper. “The world has never experienced a disruption to energy … Read more
By Clyde Russell (Reuters) – LAUNCESTON, Australia, April 7 – The U.S. and Israeli war against Iran has been characterised by a series of miscalculations by most of the involved and peripheral parties, but the real danger is the delusion over the scale of the resulting energy crisis. It is delusional of any nation to … Read more
U.S. natural gas futures edged up to a one-week high on Tuesday on a preliminary decline in daily output. That small price increase came despite forecasts for milder weather and lower demand over the next two weeks than previously expected and a daily decline in the amount of gas flowing to U.S. liquefied natural gas … Read more
U.S. strikes on Iran’s Kharg Island do not represent a change in American strategy, U.S. Vice President JD Vance said on Tuesday as a U.S. official separately told Reuters the additional strikes on military targets did not impact oil infrastructure. The official, who spoke to Reuters on condition of anonymity, described at least some of … Read more
U.S. President Donald Trump once again exhorted Iran to make a deal by his Tuesday deadline, saying a “whole civilization will die tonight” if an agreement is not reached to end the conflict. “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” … Read more
By Dylan Griffiths and Carlos Caminada Dozens of refineries, oil fields, gas plants, ports and other energy infrastructure have been damaged by missile and drone strikes, five weeks into the Iran war. US President Donald Trump threatened to bring “Hell” to Iran with strikes on power plants and other infrastructure if the Strait of Hormuz … Read more
By Eduardo Garcia Pockets of carbon capture projects are emerging in U.S. and Europe as developers capitalize on surging power demand and public funding initiatives but costs remain too high for the sector to boom. March 30 – Google’s recent deal to purchase electricity from a planned 400 MW natural gas plant with carbon capture … Read more
By Veena Ali-Khan and David Carnevali Buyout firm Energy Capital Partners has agreed to re-acquire nuclear services firm EnergySolutions from TriArtisan Capital Advisors LLC, according to a statement provided to Bloomberg News. EnergySolutions will be valued at about $2 billion in the transaction, according to a person familiar with the matter who asked not to … Read more
By Liz Lee and Claire Fu Xi urges safeguards for China’s energy security The Party Central Committee has advanced the new energy security strategy in depth, says Xi China must stay committed to low-carbon development, he adds BEIJING, April 6 (Reuters) – Chinese President Xi Jinping has called for accelerated planning and construction of a … Read more
Summary Iran faces 8 p.m. Washington deadline to open Strait of Hormuz Trump threatens to order attacks on Iran’s bridges, power plants Iran rejects temporary ceasefire, demands permanent end to conflict WTI premium to Brent widens (Reuters) – Oil prices rose on Tuesday ahead of a deadline set by U.S. President Donald Trump for Iran to open … Read more
By Christopher Charleston The war in Iran has sent demand for US oil from overseas toward record levels, bolstering President Donald Trump’s push for “American energy dominance.” But as shipments surge, exports are beginning to run up against their practical limits. Constraints in infrastructure and supply are likely to keep US oil flows well below … Read more
U.S. refiner Phillips 66 said on Monday its first-quarter results were hit by a sharp increase in commodity prices, leaving it with nearly $900 million in pre-tax mark-to-market losses, according to a filing with the Securities and Exchange Commission. Energy prices soared after the U.S.-Israeli war on Iran began in late February. Iran’s effective closure … Read more
By Luc Cohen Government and opposition request 45-day pause in US asset seizure case Venezuela seeks to protect assets like Citgo from creditors Judge requests update on legal representation for Venezuela by May 21 NEW YORK, April 6 (Reuters) – Venezuela’s government and its political opposition are seeking to coordinate their legal defense of the … Read more
By Simon Jessop, Valerie Volcovici and Supantha Mukherjee Water, power usage, pollution, land driving protests Trillium Asset Management seeks detail on Alphabet’s climate strategy Investors flag water risk as emerging threat LONDON, April 6 (Reuters) – Amazon, Microsoft and Alphabet’s Google have each recently abandoned construction of multibillion-dollar data centers over community opposition and now … Read more
By Aref Mohammed Iraq has had to reduce oil production by around 80% Storage has filled up as Strait of Hormuz closure prevented exports Iraq produces more oil than it exports, giving it scope to increase exports even if some capacity damaged BASRA, Iraq, April 6 – Iraq could restore crude oil exports to around … Read more
(Reuters) – Bridger Pipeline’s proposed project to transport Canadian crude from the U.S.-Canada border to Wyoming would cost about $2 billion and have the capacity to transport more than 1 million barrels of oil per day, according to new details released by the company. The company first outlined plans in January to the Montana Department … Read more
(Reuters) – U.S. President Donald Trump on Monday told reporters that Iran could be taken out in one night, “and that night might be tomorrow night”, warning Tehran it had to make a deal by Tuesday night or face the consequences. Trump had earlier vowed to enforce a Tuesday night deadline for Iran to agree … Read more
(Reuters) – U.S. President Donald Trump said on Monday the Tuesday deadline he has set for Iran to make a deal is final, adding that Iran’s proposal was significant but not good enough. “They made a proposal, and it’s a significant proposal. It’s a significant step. It’s not good enough,” Trump said of Iran. “It … Read more
Tankers hugged their home country’s coastline, indicating a different route to a northerly path through Iranian waters By Prejula Prem, Weilun Soon, Julian Lee and Alex Longley Three tankers broadcasting Omani ownership appear to have navigated the Strait of Hormuz by hugging their home country’s coastline, indicating a different route to a northerly path through … Read more
By Marianna Parraga April 6 (Reuters) – A unit of India’s refiner Reliance Industries has begun loading a 2-million-barrel cargo of Venezuelan heavy crude directly bought from state-run energy company PDVSA, according to a company document and shipping data on Monday. Since Caracas signed a flagship oil supply deal with Washington after the U.S. capture … Read more
European gas prices may be underestimating the risks from ongoing Liquefied Natural Gas (LNG) supply disruptions through the Strait of Hormuz, with resilient imports and weak Asian demand masking the impact for now, Goldman Sachs said in a note dated April 2. * European natural gas markets are pricing a lower-than-expected risk premium even as … Read more
Spot premiums for U.S. West Texas Intermediate crude have jumped to all-time highs as competition between Asian and European refiners for supply heats up to replace Middle Eastern oil flows disrupted by the Iran war, industry sources said. Europe is typically the largest importer of U.S. crude, but competition has escalated with Asian buyers scouring … Read more
Bloomberg News Market Snapshot S&P 500 futures 6,650.75 +0.4% Nikkei 225 53,413.68 +0.5% Bitcoin $69,862.54 +3.3% Spot gold $4,703.78 +0.6% Bloomberg Dollar Spot Index 1,213.34 -0.2% Market data as of 05:34 AM ET. Data is subject to provider delays. Five things you need to know Saudi Arabia raised the price of its main oil grade to … Read more
Cambridge Professor Helen Thompson warns that energy disruption triggered by the US-Israel attack on Iran is exposing deep vulnerabilities. The US-Israel war with Iran is emerging as more than a humanitarian crisis, one that’s left thousands of civilians dead and millions displaced. On this week’s Merryn Talks Money, Cambridge University professor Helen Thompson argues that the … Read more
Summary OPEC+ eight members to raise quotas by 206,000 bpd for May US-Iran war largely shuts oil traffic via Strait of Hormuz War leads to worst ever oil supply disruption Tanker loaded with Iraqi crude passes through Hormuz, data shows OPEC+ concerned about attacks on energy assets (Reuters) – OPEC+ agreed on Sunday to raise … Read more
Trump on Sunday issued an expletive-laced threat to destroy Iran’s power plants and blow up ‘everything over there’ Bloomberg News President Trump during a primetime address to the nation at the White House on April 1.Photographer: Alex Brandon/AP Photo/Bloomberg US allies are reportedly pressing for a last-minute deal with Iran, as President Donald Trump extended his deadline … Read more
Summary Strait of Hormuz closure disrupts Middle East oil exports, refiners seek alternatives Trump threatens further action if Strait remains closed Iran allows passage for select vessels OPEC+ agrees modest output rise, war limits actual increases Russian supply also disrupted (Reuters) – Oil prices fell in choppy trade on Monday, as investors awaited clarity on … Read more
(Reuters) – U.S. energy firms this week added to the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said on Thursday. The oil and gas rig count, an early indicator of future output, rose by five to 548 in the week to April … Read more
Recent U.S. intelligence reports warn that Iran is unlikely to open the Strait of Hormuz any time soon because its grip on the world’s most vital oil artery provides the only real leverage it has over the United States, according to three sources familiar with the matter. The finding suggests that Tehran could continue … Read more
By Arathy Somasekhar WTI soars to nearly $114/bbl, highest since March 9 Trump speech did not clarify when Hormuz might reopen WTI heads for biggest daily absolute price rise since 2020 HOUSTON, April 2 (Reuters) – U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as … Read more
Summary Iran has said it would allow ships with no US or Israeli links Vessels appear to turn of identification systems during crossing Dozens of Japanese-owned ships remain stranded, according to transport ministry data (Reuters) – Three Omani-operated tankers, a French-owned container ship and a Japanese-owned gas carrier have crossed the Strait of Hormuz since … Read more
President Donald Trump on Friday said the U.S. can open the Strait of Hormuz with a little more time, as pressure mounts for his administration to find a quick resolution to a war against Iran. “With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE,” Trump … Read more
(Reuters) – The United States is not engaged in any discussions to release additional crude oil from strategic stockpiles, an Energy Department official said on Thursday. The International Energy Agency has said it is considering another coordinated release to address supply disruptions stemming from the war in Iran, after its members in March agreed to … Read more
By David Carnevali and Kevin Crowley Microsoft Corp. is in exclusive talks with Chevron Corp. and investment fund Engine No. 1 over a long-term deal that would underpin a giant power plant in West Texas, providing electricity to a large data center campus. The proposed natural-gas fired power plant is projected to cost about $7 … Read more
April 2 (Reuters) – Oil prices could spike to $120-$130 per barrel in the near term, with a risk of surging above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, J.P. Morgan said in a note on Thursday. J.P. Morgan’s base-case assumption is that the disruption to the strait will … Read more
LONDON/NEW YORK, April 2 (Reuters) – European energy majors TotalEnergies (TTEF.PA) and Shell (SHEL.L) are among companies eyeing a majority stake in one of the U.S. Gulf’s most promising sites, three sources with knowledge of the process said, as interest in North American energy prospects rises due to the Middle East conflict. London-listed BP is … Read more
(Reuters) – U.S. President Donald Trump’s address to the nation on Wednesday, in which he vowed more aggressive strikes on Iran, has put consumers on course for record fuel prices at the pumps just ahead of the country’s peak summer travel season, market experts said. Americans expected Trump’s speech to outline a plan to end … Read more
By Laila Kearney NEW YORK, April 2 (Reuters) – Federal regulators approved an operating license extension for California’s last-standing nuclear power plant, allowing it to run for another 20 years if it also gets state legislative approval, the governor of the most populous U.S. state said on Thursday. PG&E’s (PCG.N) Diablo Canyon Nuclear Power Plant … Read more
(Reuters) – Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani told the United Nations Security Council on Thursday he hopes for a council vote on Friday on a resolution Bahrain has drafted to protect commercial shipping in and around the Strait of Hormuz. Oil prices have surged since the U.S. and Israel struck Iran at … Read more
(Reuters) – Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday. The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions … Read more
(Reuters) – BP named Carol Howle as deputy chief executive on Thursday and said she would oversee the company’s ongoing portfolio review and strategy development. Howle, who served as interim chief executive before Meg O’Neill started the top job on Wednesday, will also return to her former role as head of supply, trading and shipping. … Read more
By Sing Yee Ong and Weilun Soon A liquefied natural gas tanker has entered the Strait of Hormuz, and if it successfully navigates the waterway would become the first such vessel to pass through the strait since the start of the war. The Sohar LNG tanker, which appears not to be loaded with cargo, is … Read more
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Summary US will not be involved in talks Vital oil route effectively shut as Iran war rages Countries seek ways to reopen waterway after ceasefire (Reuters) – Britain will host talks on Thursday aimed at forming a coalition of countries to explore ways to reopen the Strait of Hormuz after U.S. President Donald Trump said securing the … Read more
(Reuters) – OPEC+ is likely to weigh a further oil output increase when eight members meet on Sunday, two OPEC+ sources said, a move that would position key producers to add more barrels should the Strait of Hormuz – the world’s most important oil route, currently shut by the U.S.-Israeli war with Iran – reopen. … Read more
U.S. President Donald Trump told the nation in a televised speech on Wednesday night that the U.S. military had nearly completed the goals it had set out to accomplish in its war with Iran and that the conflict would soon be ending. He added that the U.S. would continue to hit targets in the Islamic … Read more
Reuters Venezuela’s monthly oil exports surpassed 1 million barrels per day in March for the first time since September, with sales to refiners in India and shipments by trading houses to the Caribbean for storage pushing up volumes, according to ship-tracking data. The OPEC country’s oil sales have been rising since Caracas and Washington in … Read more
(Reuters) – Natural gas touches almost every corner of the U.S. economy, fuelling power plants, homes, factories and the booming LNG export sector. But the supply needed to meet all those uses is coming from an ever-narrower slice of America’s shale patch. This mismatch between a widening band of consumers and a shrinking supply base … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels to 461.6 million barrels in the week ended March 27, the EIA said, compared with analysts’ expectations in a Reuters poll for a 814,000-barrel rise. Crude stocks … Read more
(Reuters) – Oil tanker availability along the U.S. Gulf Coast has dropped sharply in recent weeks, as Asian and European refiners cut off from Middle Eastern supply have been snapping up vessels to import oil and fuel from the United States, shipping analysts and traders said. The Iran war has stalled tanker movements through the … Read more
Summary Brent, WTI set for biggest absolute, percentage jumps in 3 weeks Trump speech did not clarify when Hormuz might reopen (Reuters) – Oil prices climbed nearly 7% on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply. Brent crude futures were up $7.65, … Read more
President Donald Trump staunchly defended his handling of the month-old, U.S.-Israeli war on Iran in a prime-time address on Wednesday, saying the U.S. military was nearing completion of its mission while also reinforcing his threats to bomb the Islamic Republic back to the Stone Age. He delivered his 19-minute speech against a backdrop of high … Read more
(Reuters) – China will at one point have to engage more directly on how to restore oil traffic flows in the Strait of Hormuz because the number of vessels it has going through is probably insufficient, France’s navy chief said on Wednesday. “We have not seen China’s navy step in to reopen the strait. On … Read more
(Reuters) – The United States will be “out of Iran pretty quickly” and could return for “spot hits” if needed, President Donald Trump told Reuters on Wednesday, hours before he was scheduled to make a primetime address to the nation. Trump also said he would express his disgust with NATO for what he considers the … Read more
(Reuters) – Iran’s new leader has just asked the United States for a ceasefire, U.S. President Donald Trump said in a Truth Social post on Wednesday. “We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion,” he said. Reporting by Susan Heavey, writing by David Ljunggren, … Read more
President lashes out at allies for not supporting the war in Iran By Magan Crane and Jack Wittels United States President Donald Trump lashed out at allies for not supporting the U.S. war in Iran, arguing Washington will not fight for their interests as they struggle to get jet fuel with the Strait of Hormuz … Read more
Despite remarks that Trump wants to repatriate automakers, Hoekstra said Canada was not a top concern for U.S. officials By Thomas Seal The United States won’t allow Chinese electric cars from Canada to enter its market, President Donald Trump’s ambassador in Ottawa said, after a January deal in which Prime Minister Mark Carney lowered tariffs … Read more
Summary Barkin sees no major shift yet in consumer spending or inflation expectations Fed officials remain cautious, awaiting clarity on oil price impact before policy changes Retailers face consumer pushback on prices, while service firms retain more pricing power (Reuters) – Businesses continue to act as if high oil prices will prove only a short-term … Read more
Summary Shell seeks access to as much as 20 tcf of Venezuelan gas Chevron expected to relinquish stakes, which would be re-offered Russian-held stakes in two offshore fields remain a hurdle HOUSTON, April 1 (Reuters) – Shell is in advanced talks with Venezuela’s government to develop four large areas near Trinidad and Tobago, in two of … Read more
U.S. and Canadian stock markets rallied on Tuesday as financial markets seized on a couple of tenuous signals for hope about a possible end to the Iran war. The S&P/TSX composite index was up 833.10 points at 32,768.04. In New York, the Dow Jones industrial average was up 1,125.37 points at 46,341.51. The S&P 500 … Read more
(Reuters) – U.S. exports of liquefied natural gas rose to an all-time high in March as plants ran above nameplate capacity and new units started up, preliminary data from financial firm LSEG showed. Shipments to Asia more than doubled from the previous month amid the ongoing conflict in the Middle East that has roiled energy … Read more
(Reuters) – The State Department said on Tuesday it was monitoring threats to Americans in Saudi Arabia and warned all U.S. citizens in the country to shelter in place. “We are tracking reports of threats against locations where American citizens gather,” the U.S. Embassy in Saudi Arabia said in a travel advisory. “We advise U.S. … Read more
By Niccolo Conte | Design Sam Parker Key Takeaways The U.S. was the world’s largest crude oil producer in 2025 at 13.58 million barrels per day, ahead of Russia (9.87) and Saudi Arabia (9.51). Middle Eastern countries produced 32.1% of global crude oil in 2025. Just five countries produced half of the world’s oil in … Read more
March 31 (Reuters) – Nuclear power producer Constellation Energy (CEG.O) on Tuesday said it plans $3.9 billion in capital spending and raised its share buyback authorization to $5 billion, as it prepares to meet growing demand for clean electricity. U.S. power demand is expected to grow further after hitting a record high in 2025, driven … Read more
Summary US-Israeli campaign against Iran could end within two to three weeks, Trump says Uncertainty over how supply chains can be revived OPEC oil output falls in March, Reuters survey finds Saudi Arabia may raise OSPs to Asia, Reuters survey (Reuters) – Oil reversed earlier gains on Wednesday as uncertainty over the situation in the … Read more
Summary Iran threatens to target major US companies in retaliation for attacks Oil prices surge after tanker attack in Gulf (Reuters) – U.S. Defense Secretary Pete Hegseth said on Tuesday the next few days in the war against Iran would be decisive and warned Tehran that the conflict would intensify if it did not make … Read more
(Reuters) – U.S. crude oil output fell by the most in two years during January following a severe winter storm that knocked production offline in large swathes of the country, data from the Energy Information Administration showed on Tuesday. U.S. crude oil output fell 410,000 barrels per day month over month in January to 13.25 … Read more
(Reuters) – A cargo of WTI Midland crude headed to Greece for the first time in about four years, ship tracking data on Kpler showed, as U.S. and Israel’s war on Iran and reduced traffic through the Strait of Hormuz have upended trade flows and shut in output in the region. Isle of Man-flagged medium-sized … Read more
(Reuters) – QatarEnergy has yet to update its liquefied natural gas (LNG) customers on the impacts of recent attacks on its gas plants, Edison CEO Nicola Monti said on Tuesday. Monti said a pause in LNG supply until mid-June, which QatarEnergy notified the Italian utility of last week, was mainly due to the shipping blockade … Read more
(Reuters) – More vessels are flowing through the Strait of Hormuz, U.S. Defense Secretary Pete Hegseth told a briefing on Tuesday. “There are countries around the world who ought to be prepared to step up on this critical waterway as well,” he told reporters. Reporting by Phil Stewart, writing by Michelle Nichols, editing by David … Read more
By Nichola Groom Exemption granted based on national security grounds Impacted species include critically endangered Rice’s whale Environmental groups vow to challenge vote in court Oil and gas industry says environmental protections remain March 31 (Reuters) – A federal panel, convened for the first time in more than three decades, voted unanimously on Tuesday to … Read more
(Reuters) – European Union governments should prepare for a “prolonged disruption” to energy markets as a result of the Iran war, the bloc’s energy chief has told countries’ ministers ahead of an emergency meeting on Tuesday. In a letter to energy ministers, dated March 30 and seen by Reuters, EU Energy Commissioner Dan Jorgensen said … Read more
(Reuters) – President Donald Trump on Tuesday urged countries that did not help in the U.S.-Israeli strikes on Iran to buy American oil and go to the Strait of Hormuz and “just TAKE it.” Trump singled out Britain and France as unhelpful in the month-long war that has roiled global markets, driven up energy prices … Read more
The head of Polar LNG, a company that plans to build a liquefied natural gas plant on Alaska’s North Slope, said his company is hoping to buy discounted equipment from a Russian project on which Washington has imposed sanctions. Polar LNG launched on Monday. Joel Riddle, its president and CEO, in an interview said the … Read more
(Reuters) – Massive investments in artificial intelligence that underpinned record runs in equities face a major hurdle as the Middle East crisis clouds prospects for growth and energy costs, said Melissa Otto, head of research at S&P Global Visible Alpha. Before the Iran war broke out, tech giants Microsoft, Amazon, Alphabet and Meta planned to spend about $635 billion on data centres, … Read more
Summary Gasoline prices rise due to Iran conflict and Strait of Hormuz closure High fuel costs impact US households and Trump’s political standing Analysts expect crisis to be shorter than 2022 Ukraine conflict NEW YORK, March 30 (Reuters) – The U.S. national average retail price of gasoline crossed $4 a gallon for the first … Read more
By Julian Hast US natural gas futures ended lower on forecasts showing warmer weather than previously expected in the eastern US, as well as market expectations that domestic stockpiles will increase relative to seasonally normal levels in the coming weeks as demand lowers moving into spring. US gas storage levels, which were up by 14 … Read more
Reuters President Donald Trump said on Monday the United States was in talks with a “more reasonable regime” to end the war in Iran but repeated his warning to Tehran to open the Strait of Hormuz or risk U.S attacks on its oil wells and power plants. “Great progress has been made but, if for … Read more
Summary Trump tells aides he is willing to end Iran war without reopening Hormuz, report says Kuwait says oil tanker was hit in Iranian attack at Dubai port Brent heads for record monthly gain, WTI for most since 2020 (Reuters) – Brent oil futures headed for their largest monthly gain in volatile trading on Tuesday, … Read more
Summary Golden Pass LNG startup amid tight global gas supply QatarEnergy holds 70% stake, Exxon 30% in Golden Pass Golden Pass faced delays, cost overruns since 2019 construction start (Reuters) – Golden Pass LNG, a joint venture between QatarEnergy (QATPE.UL) and Exxon Mobil, has produced its first liquefied natural gas at its new facility … Read more
Venezuelan opposition leader and Nobel Laureate Maria Corina Machado addresses delegates at the 44th annual CERAWeek by S&P Global in Houston the week of March 23, 2026. Top oil executives, senior U.S. government officials and influential policymakers from around the world are gathering in Houston, Texas, for S&P Global’s annual CERAWeek conference. The gathering took … Read more
By Alex Longley, Julian Lee, Alaric Nightingale, Kevin Crowley, Yongchang Chin, Sherry Su, Charles Gorrivan, Devika Krishna Kumar, Priscila Azevedo Rocha, John Ainger, Jorge Valero, Grant Smith, Bill Lehane, Lucia Kassai, Ruth Liao, Mia Gindis, Jack Wittels, Emma Sanchez, Rong Wei Neo, Maddie Parker, Tom Orlik, Reade Pickert, Mitchell Ferman, Stephen Stapczynski, Prejula Prem, Graphics by Tom … Read more
By Siddharth Cavale Analysts flag concern over Saudi oil exports from Red Sea G7 nations are ready to take steps for energy stability NEW YORK, March 30 (Reuters) – Oil prices closed higher on Monday, with Brent heading for a record monthly rise, while U.S. crude futures settled above $100 a barrel for the first … Read more
Japan called on the Group of Seven wealthy nations and the International Energy Agency to be ready to take further flexible measures to stabilise energy markets if the Iran war drags on, its industry minister said on Monday. Those actions could include additional coordinated oil stockpile releases at an appropriate time, Ryosei Akazawa told reporters … Read more
Shell says windfall taxes risk deterring future gas investment Australia’s LNG export revenues set to surge on supply shock SYDNEY, March 31 (Reuters) – Shell (SHEL.L) has warned Australia against introducing a windfall tax on gas exporters, saying such a move would deter investment and undermine energy security as LNG prices surge following disruption to … Read more
BRUSSELS, March 30 (Reuters) – Energy prices around the world have soared after Iran closed the Strait of Hormuz in response to U.S.-Israeli attacks, leaving many Group of Seven and EU governments seeking ways to lessen the impact on their economies. Finance and energy ministers of the G7 – the United States, Canada, Japan, Britain, … Read more
By Kate Abnett Video conference planned for 1300 GMT Tuesday Focus on gas storage, stabilising oil product markets Alarm over tightening supplies of diesel and jet fuel BRUSSELS, March 30 (Reuters) – European Union energy ministers will hold talks on Tuesday to coordinate their response to the disruption to oil and gas markets triggered by … Read more
Reuters Some of U.S. President Donald Trump’s major policy decisions have been preceded by well-timed bets, leading some experts to raise questions about whether information had somehow leaked ahead of time. Here is a list. March 23, 2026 – IRAN ATTACK PAUSE: An unidentified trader or traders bet $500 million on Brent and WTI crude … Read more
(Reuters) – The U.S. technology industry is being pushed to shrink its power use in times of high demand, amid growing public concern that Big Tech’s ma
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