U.S. President Donald Trump on Friday Said on Friday that the United States carried out strikes against “every military target” on Iran’s Kharg Island export hub. “For reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island,” Trump wrote on Truth Social. “However, should Iran, or anyone else, do … Read more
By Bruno Venditti | Graphics/Design: Amy Kuo Key Takeaways Oil is the largest energy source in six of the world’s 10 biggest economies, including the U.S., Germany, Japan, the UK, and Italy. Coal dominates energy supply in China and India, accounting for nearly 60% of their energy mixes. France stands out for nuclear power, which … Read more
By Arathy Somasekhar and Nicole Jao California now more dependent on costlier fuel imports from Asia West Coast refineries account for about 50% of Middle East crude imports to US Prices spike for alternative barrels of crude due to Asia demand HOUSTON, March 13 (Reuters) – Fuel costs in California are soaring even more than … Read more
By Dorothy Neufeld | Graphics/Design: Amy Kuo Key Takeaways The Netherlands imported 419 million barrels, making it the world’s largest buyer of American crude, ahead of much larger economies like China, India, and Japan. Mexico fell to second place, importing 398 million barrels. China’s imports of U.S. oil declined 34% in 2025, while India’s rose … Read more
Summary Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status of the war two weeks after it … Read more
(Reuters) – Iran has allowed two Indian-flagged liquefied petroleum gas carriers to sail through the Strait of Hormuz, four sources with direct knowledge of the matter said, a rare exception to the Iranian blockade that has disrupted global energy supplies. The Indian-flagged LPG tanker Shivalik crossed the Strait under escort from the Indian Navy, said … Read more
By Erwin Seba Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues HOUSTON, March 13 (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status … Read more
By Samia Nakhoul Tehran restricts energy artery to thwart US pressure Insurgent-state tactics: Missiles, drones across several fronts IRGC adopts shadow war approach long used by its proxies Plan has echoes of Iran’s playbook in 1980-88 war with Iraq DUBAI, March 13 (Reuters) – Long before the U.S. and Israel attacked Iran, the Islamic Republic … Read more
(Reuters) – There is no clear evidence that Iran has placed mines in the Strait of Hormuz, U.S. Defense Secretary Pete Hegseth told a news briefing on Friday. The assessment by Hegseth contrasts with news reports earlier this week suggesting Iran had deployed about a dozen mines in the Strait of Hormuz, the conduit for … Read more
(Reuters) – Russia sees a U.S. sanctions waiver on its oil as an attempt by Washington to stabilise global energy markets, and the two countries have a shared interest in this, Kremlin spokesman Dmitry Peskov said on Friday. The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products … Read more
(Reuters) – The surge in energy prices triggered by the U.S.-Israeli war on Iran is putting European governments under pressure to help households and businesses, but strained finances in some major economies mean their firepower is limited. That makes it unlikely they will match the broad support provided after Russia’s full-scale invasion of Ukraine three … Read more
BP said late on Thursday that its represented workforce at its Whiting refinery in Indiana has voted not to ratify the company’s last, best, and final offer. “BP will continue to bargain in the best interests of our employees, our company, and the community,” the company said in a statement. BP last week had presented … Read more
(Reuters) – The U.S. plans to release 172 million barrels of oil from its Strategic Petroleum Reserve, more than 40% of a wider release coordinated with allies, to help dampen prices spiked by supply disruptions from the U.S.-Israeli war on Iran. The U.S. sale, announced late on Wednesday, is part of a 400-million-barrel release by … Read more
Summary US puts forward measures aiming to ease supply tightness Disruption of trade through Strait of Hormuz continues Goldman expects Brent will average over $100 a barrel in March (Reuters) – Oil prices dipped on Friday, but were on track for weekly gains as Gulf disruptions from the Middle East conflict outweighed U.S. and International … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since early February, 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, rose by two … Read more
(Reuters) – The “Trump always chickens out” investment strategy – buying beaten-down stocks on the assumption that the U.S. president will ultimately back down from his more extreme policies – has, for the most part, been a profitable one. But the Iran war may change that. The joint U.S.-Israeli attack on Iran on February 28 … Read more
Summary US waiver allows purchase of stranded Russian oil Germany and other European allies criticise US decision Moscow welcomes US move to stabilise energy markets (Reuters) – The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products stranded at sea, drawing criticism from Germany and other … Read more
March 12 (Reuters) – The U.S. Department of Energy will invest about $1.9 billion to accelerate upgrades of power grids in the country, it said on Thursday. U.S. power consumption is set to rise sharply this year and the next, driven by rapid growth in AI and cryptocurrency data centers and increased electrification of heating … Read more
The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war. The announcement comes a day after the U.S. Energy Department said that the U.S. would … Read more
By Siddharth Cavale Iran supreme leader says Strait of Hormuz to remain closed Iranian boats attacked two tankers in Iraqi waters IEA release of 400 million barrels may give limited relief NEW YORK, March 12 (Reuters) – Oil prices settled up about 9% on Thursday, at their highest in nearly four years, as Iran stepped … Read more
By Timothy Gardner and Susan Heavey Lawmakers say Trump prioritizes oil companies over consumers Energy Secretary Chris Wright says $200-a-barrel oil unlikely Oil prices up despite U.S. efforts to control them WASHINGTON, March 12 (Reuters) – U.S. President Donald Trump said on Thursday the United States stood to make significant money from oil prices driven … Read more
By Anirban Sen BOCA RATON, Florida, March 12 (Reuters) – The heads of a number of top exchanges, including CME Group (CME.O) and Toronto Stock Exchange parent TMX Group (X.TO), oppose any potential intervention from the U.S. government involving the oil futures market, amid rising energy prices in the aftermath of the Iran conflict. The … Read more
(Reuters) – The U.S. Navy, perhaps with an international coalition, will escort vessels through the Strait of Hormuz when it is militarily possible, U.S. Treasury Secretary Scott Bessent told Sky News in an interview on Thursday. “My belief, that as soon as it is militarily possible, the US Navy, perhaps with an international coalition, will … Read more
(Reuters) – U.S. spot natural gas prices for Thursday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 25th straight day as pipeline constraints trap gas in the nation’s biggest oil-producing basin, prompting some analysts to project that gas production could be reduced in the short … Read more
One outlook sees ‘six more LNG-Canada-sized projects’ By Don MacLachlan The LNG carrier Gaslog Glasgow loading LNG Canada’s first export cargo (in 2025) By Resource Works More News and Views From Resource Works Here While Ottawa talks of Canada becoming “an energy superpower,” with LNG exports of as much as 100 million tonnes a year, … Read more
(Reuters) – Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel … Read more
(Reuters) – Iraq will keep crude oil production at around 1.4 million barrels per day, Oil Minister Hayan Abdel-Ghani was quoted as saying on Thursday, less than a third of the level before the U.S.-Israeli conflict with Iran. According to the state news agency, the minister said that 200,000 bpd is being transported by truck … Read more
(Reuters) – The war in the Middle East is creating the biggest oil supply disruption in history, the International Energy Agency said on Thursday, a day after it agreed to release a record volume from strategic stockpiles to offset shortages and a spike in prices. Global supply is expected to drop by 8 million barrels … Read more
(Reuters) – Crude oil futures prices are reflecting a view that the market can successfully navigate the Iran war, while prices for physical cargoes and refined products are signalling an imminent crisis. Only one of these price signals is correct – and it’s not what is happening in the paper oil market. Global benchmark Brent … Read more
U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and the U.S. and Israeli war with Iran widened. “I would say unlikely, but we are focused on the military operation and solving a problem,” Wright … Read more
Goldman Sachs raised its Brent and WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 as it sees longer disruption to oil flows in the Strait of Hormuz due to the U.S.-Israeli war on Iran. Brent prices have gained more than 36% since the war began on … Read more
Summary Iranian source denies any such agreement Indian source says assurance came after foreign ministers spoke India says 28 Indian-flagged vessels around Strait They have 778 Indian sailors aboard Suezmax tanker Shenlong, carrying Saudi crude, reaches Mumbai (Reuters) – Iran will allow Indian-flagged tankers to transit the Strait of Hormuz, a conduit for 40% of … Read more
The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million … Read more
Summary Iranian boats attacked two tankers in Iraqi waters, port officials said Shipping through Strait of Hormuz still halted IEA proposed release of 400 million barrels may offer only limited relief, analysts say (Reuters) – Oil prices rose sharply on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, … Read more
The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that the world should be ready for oil at $200 a barrel after striking tankers in Iraqi waters and other ships near the vital Strait … Read more
By Erwin Seba and Nicole Jao India’s Reliance to invest in refinery, buy output Deal likely to reduce trade deficit with India Fuel prices spike as US, Israel attack Iran HOUSTON, March 10 (Reuters) – President Donald Trump on Tuesday announced the construction of a refinery on the southern U.S. border backed by India’s Reliance … Read more
Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled up nearly 5% on Wednesday as fresh … Read more
(Reuters) – Iran has deployed about a dozen mines in the Strait of Hormuz, two sources familiar with the matter said, in a move likely to complicate the reopening of the narrow waterway, an important route for shipping oil and liquefied natural gas. Exports of oil and LNG through the strategic chokepoint along Iran’s coast … Read more
(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered … Read more
(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict. “I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and … Read more
Transaction Represents Largest Energy Deal in U.S. History. BROWNSVILLE, Texas, March 10, 2026 /PRNewswire/ — America First Refining announced a historic milestone in U.S. energy production: the construction of the first new oil refinery built in the United States in 50 years. Made possible through the leadership of President Donald J. Trump and the … Read more
By America Hernandez and Alex Lawler IEA agrees to release record amount of oil in response to crisis Trump indicates he supports the IEA move Oil prices rise on concerns that move will not be enough PARIS/LONDON, March 11 (Reuters) – The International Energy Agency on Wednesday agreed to release 400 million barrels of oil, … Read more
The national average retail price of gasoline crossed $3.50 a gallon this week to hit its highest since May 2024, data from price tracking services AAA and GasBuddy showed, as the Israel-U.S. war with Iran stokes supply concerns. Disruptions to Middle Eastern oil exports through the Strait of Hormuz have caused a surge in fuel … Read more
By Priscila Azevedo Rocha, Sing Yee Ong, and Stephen Stapczynski A tense global hunt for liquefied natural gas sparked by the war in the Middle East is starting to shift physical supply flows, as more shipments bound for Europe are diverting to Asia. At least nine cargoes initially headed to Europe have changed course to … Read more
Rail shipments remain an option for transporting more oil By Laura Dhillon Kane and Robert Tuttle Canada is “urgently exploring options” with provinces and the energy industry to boost oil supply, as trade disruptions caused by war in the Middle East spur huge volatility in global crude markets. The country is looking at ways to … Read more
By Kate Abnett and Charlotte Van Campenhout EU drafting proposals to relieve industries from high energy costs Gas price cap divides EU governments, similar to 2022 energy crisis Von der Leyen warns against returning to Russian energy sources BRUSSELS, March 11 (Reuters) – The European Union is considering measures to curb energy prices, including by … Read more
By Alex Lawler Saudi Arabia increased production as contingency for Iran attack disruption, sources said OPEC says geopolitical developments need close monitoring, no forecast changes yet IEA to update oil forecasts on Thursday LONDON, March 11 (Reuters) – OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and … Read more
By Mike Dolan LONDON, March 11 (Reuters) – U.S. stock market indexes have weathered this month’s oil shock well so far because investors expect only a glancing overall GDP hit from higher energy costs. But that resilience masks a potentially toxic shift of income from households to “Big Energy” – and packs big risks in … Read more
By Ron Bousso LONDON, March 11 (Reuters) – The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years – first with Russia’s invasion of Ukraine and now with the U.S.-Israeli war on Iran – undermining U.S. President Donald Trump’s flagship push to double down on … Read more
Lack of attractive projects for sale keeps deal activity outside the U.S. and Canada at $18B, even as Latin America heats up CALGARY, Alberta (Mar. 11, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released an International M&A Review examining how global resource scarcity is reshaping upstream … Read more
Shell, the world’s largest liquefied natural gas trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients worldwide, three sources told Reuters on Wednesday. Qatar, the world’s second-largest exporter of LNG, announced a production halt at its 77 million tons per annum (mtpa) facility last week and declared … Read more
HOUSTON–(BUSINESS WIRE)–SLB (NYSE: SLB) continues to closely monitor the unfolding situation in the Middle East and adapt its operations. The safety and security of SLB’s employees is the highest priority, and the company has activated local and regional crisis response teams that are meeting daily. Travel to and transit through the region have been suspended, … Read more
(Reuters) – U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon … Read more
By Ron Bousso LONDON, March 11 (Reuters) – The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports from the Middle East … Read more
Summary WSJ reports IEA proposed largest-ever release of oil reserves France to host G7 leaders call on Wednesday U.S. crude, gasoline and distillate stocks fell last week March 11 (Reuters) – Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency’s reported plan for a record release of oil reserves could offset … Read more
(Reuters) – G7 energy ministers will discuss how to tackle soaring energy prices due to the war in Iran on a call on Tuesday while a group of European Union leaders will do so later in the day, officials said. Oil prices surged to $119 a barrel on Monday, their highest levels in almost four … Read more
(Reuters) – The Pentagon is looking at ways to escort ships safely through the Strait of Hormuz, U.S. Chairman of the Joint Chiefs of Staff General Dan Caine said on Tuesday. About a fifth of global oil and liquefied natural gas normally passes through the strait but Iran, which lies on its northern coast, has … Read more
The International Energy Agency has proposed the largest release of oil reserves in its history to bring down crude prices that have soared due to the U.S.-Israel war with Iran, the Wall Street Journal reported on Tuesday, citing officials familiar with the matter. The release would exceed the 182 million barrels of oil that IEA … Read more
(Reuters) – LNG Canada, a Shell-led venture, has ramped up production and exports to Asia this month, LSEG data show, as the Iran war threatens Asian natural gas supplies which are particularly vulnerable to global disruptions. The LNG project in Kitimat, British Columbia, which began operations in June 2025, has exported five cargoes in the … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its short-term energy outlook on Tuesday. EIA projected dry gas production will rise from a record 107.7 billion cubic feet per day (bcfd) in 2025 to 109.5 bcfd in 2026 … Read more
By Julian Hast US natural gas futures fell for a second day as weather forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Declines in European natural gas and oil prices as US President Donald Trump late Monday predicted a swift end to the Middle East war have also put downward pressure … Read more
By Howard Schneider Gas prices rise, stocks volatile amid US-Iran conflict Lower-income households may cut spending, affecting businesses Fed faces challenge balancing inflation and growth amid conflict WASHINGTON, March 10 (Reuters) – Rising gasoline prices and a wobbly stock market are increasing the risk the U.S.-Israeli war on Iran could hit hard among consumers across … Read more
By Georgina Mccartney, Arathy Somasekhar and Siddharth Cavale HOUSTON, March 10 (Reuters) – Brent oil prices are set to trade above $95 a barrel over the next two months as the Iran war disrupts supplies, before falling to around $70 by the end of the year, the Energy Information Administration said on Tuesday in a … Read more
Asia faces greatest exposure. Loss of 10+ Bcf per day highlights limited supply elasticity CALGARY, Alberta (Mar. 10, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, is releasing a new analysis examining the global natural gas market implications of a full shutdown of Qatari liquefied natural gas (LNG) … Read more
Iran’s Revolutionary Guards said on Tuesday they would not allow “one litre of oil” to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region. The heightened rhetoric did … Read more
Summary Aramco CEO: Hormuz disruption is the industry’s “biggest crisis” Oil shipments from Gulf largely blocked Aramco East-West pipeline to reach capacity in days (Reuters) – Saudi Arabia’s Aramco, the world’s top oil exporter, said on Tuesday there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in … Read more
(Reuters) – U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have soared to the highest level since 2022 because of the expanding U.S.-Israel war with Iran. It is uncertain how much of an impact U.S. policy changes could have on oil prices, … Read more
By Gavin Maguire LITTLETON, Colorado, March 9 (Reuters) – The sudden stoppage of LNG exports from Qatar – the world’s second-largest exporter in 2025 – has sent natural gas prices soaring by 50% from year-ago levels across Europe and Asia and has prompted panicked buyers to seek out replacement cargoes. However, a shortage of available … Read more
By Jarrett Renshaw Trump weighs steps to ease oil prices Options include Russia sanctions relief, G7 oil reserve release Strait of Hormuz disruptions limit immediate impact March 9 (Reuters) – U.S. President Donald Trump is considering easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at … Read more
(Reuters) – Investors are now seriously considering the possibility that war in the Middle East could create a stagflationary shock, just as it did 50 years ago, when disruption to global energy supplies sent inflation surging, and battered growth “The risk of a 1970s scenario is rising,” said Kaspar Hense, portfolio manager at RBC BlueBay … Read more
(Reuters) – International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters. The deals would allow both companies to boost production in coveted oil regions in the South American … Read more
Summary Oil prices fall after topping $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves (Reuters) – Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session … Read more
Summary Exxon is latest high-profile company moving to Texas for business-friendly environment New Jersey sued Exxon and others over climate change; suit dismissed Incorporation in Texas may aid Exxon in policy matters, says law professor (Reuters) – Exxon Mobil is seeking to abandon its corporate registration in New Jersey and redomicile in Texas where its headquarters is located, the U.S. … Read more
By Liz Hampton PLATTEVILLE, Colorado, March 9 (Reuters) – The U.S. is considering coordinating sales of oil from the U.S. Strategic Petroleum Reserve with releases from other countries as prices soar during the war on Iran, Energy Secretary Chris Wright said on Monday. Wright also said the U.S. has “some other options” on allowing more … Read more
(Reuters) – There was broad agreement among the Group of Seven finance ministers on Monday not to release strategic oil reserves just yet, a G7 official said. G7 finance ministers held a teleconference earlier on Monday to discuss a response to the overnight surge in oil prices caused by the U.S.-Israeli war on Iran. They … Read more
(Reuters) – U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have spiked to more than $100 a barrel due to the Iran war, according to two people familiar with the matter. The effort reflects White House worries that the surge in oil … Read more
(Reuters) – Russian President Vladimir Putin said on Monday that the Iran war had triggered a global energy crisis and cautioned that oil production dependent on transport through the Strait of Hormuz could soon come to a complete halt. Putin, though, signalled again that Russia was ready to supply oil and gas to Europe. Russia … Read more
By Salma El Wardany and Stephen Stapczynski QatarEnergy is pushing back the start of a major liquefied natural gas expansion project to at least 2027 after a drone attack last week that forced the unprecedented closure of its Ras Laffan plant. Production from the North Field East facility will now target its first export early … Read more
By America Hernandez PARIS, March 9 (Reuters) – The Group of Seven countries are considering releasing emergency oil stocks to address the Middle Eastern supply crisis, the International Energy Agency said on Monday, as oil prices surged to as high as almost $120 per barrel. IEA member countries that are net oil importers are required … Read more
(Reuters) – Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway. It was not immediately clear at which fields and by how much production was being … Read more
Oil prices have soared while share markets have skidded on fears that the escalating U.S.-Israeli war on Iran will squeeze energy supplies and hamstring industries around the world. Following are actions that governments are taking or plan to take to reduce the impact of the war on their economies. SOUTH KOREA PLANS FUEL CAP South … Read more
A look at the day ahead in European and global markets from Wayne Cole. OK, so this is shaping up as a proper global energy shock, like the 1970’s version. Though it is unique in being by choice, or at least the choice of one man. Brent cleared $100 at the open and never looked … Read more
Jamie McGeever (Reuters) – Oil prices surged 30% last week and swathes of global stocks sold off as war in the Middle East escalated, yet an air of complacency hung over Wall Street. Investors have likely been betting that the turmoil will have a short-lived, mild economic impact, much like most crises in the recent past. Is … Read more
Summary Brent, WTI hit highest levels since July 2022 Brent jumps as much as 29%, WTI surges up to 31% Iraq, Kuwait cut oil output Iran names hardliner Mojtaba Khamenei as new supreme leader (Reuters) – Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major … Read more
Mounting miscalculations and a retreat to narrow self-interest by major countries, including the United States and China, are threatening to turn the current conflict in Iran into a global crisis for the supply of refined oil products. Much of the media focus tends to be on the price of crude oil, with benchmark Brent crude … Read more
Ron Wallace and Tammy Nemeth “Investors can’t ignore the commercial constraints imposed by the MoU. My concern is that the MoU does not address the key federal barriers that preclude a free-market approach to the energy industry. Key federal barriers have become conditional, reversible, or deferred.” Bryan Gould, Executive Chairman Aspenleaf Energy. As … Read more
Iraqi oil production from its main southern oilfields has fallen by 70% to just 1.3 million barrels per day as the country is unable to export oil via the Strait of Hormuz due to the Iran war, three industry sources said on Sunday. Production from the fields stood at around 4.3 million bpd before the … Read more
Trump administration officials on Sunday defended a decision to temporarily lift some sanctions on Russian oil and predicted that a sharp increase in gasoline prices resulting from the Iran war would last only weeks. Appearing on multiple TV talk shows, Energy Secretary Chris Wright and U.S. Ambassador to the United Nations Mike Waltz said a … Read more
(Reuters) – U.S. crude futures rose more than 20% in early trade on Monday, hitting their highest since July 2022, as the expanding U.S.-Israeli war with Iran fuelled fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz. U.S. West Texas Intermediate (WTI) crude futures gained as much as $20.34 a … Read more
Goldman Sachs said oil prices are likely to exceed $100 per barrel next week if no signs of a solution emerge to the severe disruption in flows through the Strait of Hormuz, warning that upside risks to its base-case forecast are rapidly growing further. The bank said it plans to revisit its oil price forecast … Read more
The White House is asking federal agencies to step up efforts to address soaring energy prices from the Iran conflict, signaling a concern that steps taken so far may not be enough, according to two people familiar with the matter. Senior officials have asked the departments of Energy, Transportation and Treasury and the Environmental Protection … Read more
The war with Iran could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics, and elevated risks to shipping. The outlook poses a wider global economic threat, as well as a political vulnerability for U.S. President … Read more
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(Reuters) – Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India. “We may unsanction other Russian oil,” Bessent told Fox Business’ “Kudlow” program. “There are … Read more
(Reuters) – Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks. “These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are … Read more
(Reuters) – Venezuela this month resumed exports of a key crude grade that had not been shipped since late 2024, diluted crude oil (DCO), with U.S. Chevron sending a 500,000-barrel cargo to the U.S. Gulf Coast, a document from state energy company PDVSA seen on Friday showed. The grade, produced from a blend of extra … Read more
(Reuters) – The anticipated construction cost for two phases of Venture Global’s CP2 LNG liquified natural gas project has jumped by $4 billion, or just under 14%, the company said in an annual report released earlier this week. It cited design modifications, inflation and the potential impact of tariffs imposed by U.S. President Donald Trump, … Read more
(Reuters) – The sudden and acute disruption to Middle East oil supplies caused by the U.S.-Israeli war with Iran is forcing buyers to tap every available barrel, rapidly dismantling forecasts of an oil glut this year. In February, the International Energy Agency forecast that global oil supply would exceed demand by around 3.7 million barrels … Read more
(Reuters) – QatarEnergy is offering 10 liquefied natural gas tankers for lease, two industry sources told Reuters, after the world’s second-largest LNG exporter announced a production halt at its 77 million ton per annum (mtpa) facility and shipping rates soared, as the U.S.-Iran conflict heads into its second week. Qatari Energy Minister Saad al-Kaabi told … Read more
Summary WTI hits level last seen in September 2023 Brent trades at $90 per barrel for first time since April 2024 Trump says he is unconcerned about rising gasoline prices Qatar’s energy minister says oil could reach $150 a barrel (Reuters) – U.S. crude oil futures climbed more than $10 on Friday, but remained under … Read more
By Justin Fox Oil prices are up 15% since the US and Israel began attacking Iran last weekend, and gasoline prices have been following not too far behind. In a big-picture economic sense, this matters a lot less than it used to. The oil intensity of gross domestic product is down about 70% in the … Read more
Gas producer says it will take ‘weeks to months’ to restore deliveries after Iranian drone strike By Andrew England and Malcolm Moore ORIGINAL: financialpost.com/financial-times/qatar-war-gulf-stop-energy-exports Qatar’s energy minister has warned that war in the Middle East could “bring down the economies of the world”, predicting that all Gulf energy exporters would shut down production within days … Read more
By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. Takeaways by Bloomberg AI The US has switched from being an effective underwriter of global energy security to disrupter, with President Donald Trump’s … Read more
(Reuters) – President Donald Trump said on Thursday he was not concerned about rising U.S. gas prices driven by the widening Iran conflict, telling Reuters in an exclusive interview that the U.S. military operation was his priority. “I don’t have any concern about it,” he said, when asked about the higher prices at the pump. … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first 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, rose by one to 551 in the week to March … Read more
Summary Brent, WTI trade at highest levels since 2024 Trump says he is unconcerned about rising gasoline prices Qatar’s energy minister says oil could reach $150 a barrel (Reuters) – Crude oil was set on Friday for its strongest weekly gain since the extreme volatility of the COVID‑19 pandemic in spring 2020, as conflict in … Read more
(Reuters) – More tankers came under attack in Gulf waters on Thursday as the U.S.–Iran war escalated, and Iranian drones entered Azerbaijan, threatening to spread the crisis to more oil producers in the region. A Bahamas-flagged crude oil tanker was targeted by an Iranian remote-controlled boat laden with explosives while anchored near Iraq’s Khor al … Read more
(Reuters) – The U.S. Treasury Department is expected to announce measures as soon as Thursday aimed at combating rising energy prices, including potential action involving the oil futures market, a senior White House official said. The potential move would mark an unusual attempt by Washington to influence energy prices through financial markets, rather than physical … Read more
(Reuters) – U.S. President Donald Trump told Reuters on Thursday that he wants the United States to play a role in choosing Iran’s next leader and encouraged Kurdish opposition groups to go on the offensive. Trump said in a telephone interview it was very early in the process of picking a new leader but that … Read more
(Reuters) – A temporary surge in oil prices to $100 per barrel could slow global growth by 0.4 percentage point, Goldman Sachs analysts said on Thursday, as a widening conflict in Iran chokes off vital Middle East oil and gas flows. Under its baseline forecast, Goldman expects oil prices to increase a bit further before … Read more
Being the world’s No. 1 driller isn’t enough to shield the country from the effects of the war. By Will Kubzansky The Iran war may be happening on the other side of the world, but US consumers are already starting to see the effects. Average gasoline prices jumped to $3.25 a gallon on Wednesday, according … Read more
By Anna Hirtenstein, Andrew Mills and Jonathan Saul Iran’s drone production capacity is around 10,000 per month Iran’s missile stockpile estimates vary widely, affecting conflict duration Sea mines could prolong disruption in the Strait of Hormuz Drone attacks have penetrated Gulf states’ air defences March 4 (Reuters) – Iranian drone attacks could disrupt the Strait … Read more
LITTLETON, Colorado, March 5 (Reuters) – The repercussions of the ongoing U.S.-Iran war are being felt across the world, with U.S. fuel prices, European natural gas costs and Asian tanker freight rates all jumping sharply since strikes began at the weekend. The transmission of market jitters through the shipping, fuel and power sectors illustrates how … Read more
LAUNCESTON, Australia, March 5 (Reuters) – The explosion in jet fuel prices in Asia is an early indicator that the economic pain of the war in the Middle East is about to become reality for energy consumers. Jet fuel prices in Asia’s trading hub Singapore rocketed 72% to $225.44 a barrel on Wednesday, a record … Read more
By Nora Buli Europe’s gas storage at 5-year low Refilling will require extra 180 LNG cargoes y/y Iran conflict cuts supply, lift prices European benchmark gas at highest since early 2023 OSLO, March 5 (Reuters) – Europe’s already huge task of refilling gas storage for next winter has suddenly become far riskier and far more … Read more
(Reuters) – India is in talks with the United States to secure marine cover for vessels shipping oil from the Middle East, as New Delhi seeks to shield buyers from potential supply disruptions caused by the crisis in the Gulf, a government official said on Thursday. “So far we are comfortable,” the official, who did … Read more
Reuters Average U.S. retail diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday and are set to rise further later in the week as the U.S.-Israel conflict with Iran dragged on, threatening to hit consumers with sticker shocks on everything from food to furniture. Prices for diesel, used … Read more
By Ron Bousso U.S. President Donald Trump’s current plan to revive shipping through the Strait of Hormuz via financial guarantees and security assistance will require a Herculean international effort. Even if successful, it will likely offer only limited relief as time quickly runs out to avert the worst global economic fallout from the closure of … Read more
(Reuters) – U.S. crude stocks rose to their highest level since May 2025 last week, the Energy Information Administration said on Wednesday, as exports and imports declined. Crude inventories rose by 3.5 million barrels to 439.3 million barrels in the week ended February 27, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water … Read more
Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened … Read more
Summary Iran launches wave of missiles at Israel US Senate blocks measure to halt American air assault Traffic through Strait of Hormuz remains halted, production cuts widen (Reuters) – Oil prices rose on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran disrupted supplies and shipping, prompting some major producers to cut output and others … Read more
(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President … Read more
(Reuters) – Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz. The waterway, a critical chokepoint between Iran and Oman, carries about a fifth … Read more
(Reuters) – Russian President Vladimir Putin suggested on Wednesday that Russia could stop supplying gas to European markets now and move to more promising markets. The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary’s parliamentary election, according to EU officials and a document … Read more
(Reuters) – Qatar will fully shut down gas liquefaction on Wednesday and won’t be able to return to normal production and export levels of super-chilled gas for at least a month, two sources familiar with the matter said. Qatar Energy, which stopped producing gas this week and declared force majeure on exports on Wednesday, did … Read more
(Reuters) – QatarEnergy has declared force majeure on shipments of liquefied natural gas, it said in a statement on Wednesday, after attacks on its production facilities amid the U.S.-Israeli war on Iran. The state-owned company said on Monday it was halting production of LNG and associated products due to attacks on facilities in the Ras … Read more
(Reuters) – Oil prices are expected to remain elevated in the near term as traders weigh the risk of supply disruptions through the Strait of Hormuz, a chokepoint for more than 20% of global oil supply, amid the widening Middle East conflict. Israeli and U.S. strikes on Iranian targets have led to attacks across the … Read more
(Reuters) – Operatives from Iran’s Ministry of Intelligence signalled openness to the U.S. Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter. The offer was made through an unnamed country’s spy agency, the NYT said, citing Middle Eastern officials and officials … Read more
Combination will bring intelligence and automation from CapEx strategy to engineering execution AUSTIN, Texas (Mar. 4, 2026) — Enverus, the leading energy data analytics platform, announced today that it has entered into a definitive agreement to acquire Spatial Business Systems (SBS), an AI-enabled intelligent design automation platform for electric and gas utilities, telecommunications providers, and engineering teams. To … Read more
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President … Read more
March 4 (Reuters) – Goldman Sachs raised on Wednesday its second-quarter 2026 average price forecast for Brent crude oil by $10 to $76 per barrel and for WTI by $9 to $71. These forecasts assume that low oil flows via the Strait of Hormuz will lead to large declines in OECD inventories and Middle East … Read more
Summary US LNG plants running near full capacity, limiting the potential for output increase amid Qatar disruptions Venture Global has the most flexibility, with higher percentage of spot market sales Golden Pass LNG project is set to begin production this month but will take time to ramp up (Reuters) – The U.S. has little spare … Read more
A proposed deepwater oil project off the Canadian east coast reached a key milestone Tuesday as the Newfoundland and Labrador government signed an agreement with Equinor on how to divvy up the development’s anticipated rewards. Premier Tony Wakeham received several standing ovations as he unveiled the benefits agreement for the Bay du Nord project at … Read more
Industrial facilities that handle flammable and toxic gases face an ongoing risk of leaks that can escalate into fires, explosions, environmental impacts, and catastrophic loss. Process industries, including oil and gas, petrochemicals, and power generation, must therefore implement robust gas safety systems that not only detect leaks early but also deliver actionable alerts and mitigate risk. A layered gas detection strategy has emerged as … Read more
Summary Geopolitical factors remain near-term key driver, analyst says US crude stocks up 5.6 million barrels last week, sources say (Reuters) – Oil prices rose about 1% on Wednesday as U.S.-Israeli strikes on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could … Read more
(Reuters) – President Donald Trump said on Tuesday he had ordered the United States Development Finance Corporation to provide insurance and guarantees for the financial security of all maritime trade, including oil tankers, traveling through the Gulf region. He made the comments in a Truth Social post. Reporting by Bhargav Acharya and Ryan Patrick Jones … Read more
By Niccolo Conte | Graphics/Design: Anna Diederichs Key Takeaways China receives 37.7% of all oil exports that pass through the Strait of Hormuz, the most of any country. Asian countries are most affected by a closure of the strait, receiving 89.2% of the Strait’s crude oil and condensate flows. The Strait of Hormuz is one … Read more
Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S.bombed Iran and Tehran retaliated. Hedging provides traders with opportunities to profit in times of volatility, and can help producers … Read more
Summary Trump hosts tech leaders to pledge to shield consumers from energy price spikes Effort aims to ease voter concerns over higher electricity bills Companies expected to commit to efficiency and dedicated power March 4 (Reuters) – U.S. President Donald Trump is set to meet on Wednesday with leaders of major technology companies, including Google, … Read more
(Reuters) – Venezuela’s oil exports fell 6.5% in February from a month earlier to some 737,000 barrels per day as more shipments to the United States and Europe could not fully offset the loss of what used to be the OPEC country’s main market, China, according to vessel monitoring data and documents from state company … Read more
(Reuters) – President Donald Trump will review a set of policy options on Tuesday aimed at controlling energy prices during the escalating Middle East conflict, including a proposal for the U.S. government to help oil tankers in the region obtain insurance, two sources said. Global crude prices have spiked since Israeli and U.S. forces began … Read more
(Reuters) – Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million bpd within days as the country runs out of storage and cannot export crude due to the Iran crisis, two Iraqi oil officials told Reuters on Tuesday. As of Tuesday, Iraq … Read more
(Reuters) – China is the world’s largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran. But the opposite is most likely the case, with China’s vast stockpile of crude a cushion against price spikes, meaning … Read more
(Reuters) – Saudi oil giant Aramco is attempting to reroute some of its crude exports to the Red Sea to bypass the Strait of Hormuz where the risk of attacks has slowed shipping to a near halt, sources said on Tuesday. The world’s largest oil firm hopes to avert production cuts by rerouting oil to … Read more
(Reuters) – U.S. natural gas futures jumped about 6% to a two-week high on Tuesday on soaring oil and gas prices around the world as the U.S.-Israeli war against Iran widened across the Middle East region, disrupting the movement of energy supplies. Front-month gas futures for April delivery on the New York Mercantile Exchange rose … Read more
So far, excess supplies elsewhere have helped limit the oil price surge Oil surged for a second day as the United States and Israel stepped up their war against Iran, with the sprawling conflict’s impact on energy assets in the Persian Gulf continuing to grow. Saudi Arabia is exploring the option of delivering more barrels … Read more
Saudi Arabia produces about 10 million barrels a day of crude, with exports rising to about 7.2 million a day last month By Serene Cheong, Yongchang Chin, Salma El Wardany and Rakesh Sharma Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the … Read more
CALGARY, Alberta (Mar. 3, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released a new analysis examining the energy market implications of U.S. military strikes on Iran, warning that risks to oil and liquefied natural gas (LNG) supply chains have increased meaningfully and could drive sharp price … Read more
Reuters If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday. The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for aluminium, with a corresponding impact on … Read more
(Reuters) – Higher oil prices due to the Iran war are increasing prices of jet fuel, which accounts for a big portion of airlines’ costs. Brent crude oil rose above $80 per barrel on Tuesday on worries about disrupted supply. Some airlines use futures and options to hedge against price increases. They also try to hedge against value changes in … Read more
Summary Hormuz shut for fourth day, five tankers hit Qatar shuts gas output, Saudi refinery stops US gasoline prices rise above $3/gallon Bessent, Wright to announce US plans to mitigate oil spike (Reuters) – Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, … Read more
Summary Brent and WTI benchmarks gain more than $4 Vessels avoid Strait of Hormuz as freight rates soar Crude prices to remain elevated over coming days, say analysts (Reuters) – Crude oil benchmarks rose about 8% on Tuesday, soaring for a third session as the U.S.-Israeli conflict with Iran widens, disrupting fuel shipments and heightening … Read more
India, a fast-growing oil consumer, is the country most vulnerable to crude supply shocks if the Middle East conflict leads to a prolonged disruption in shipments from the region, mainly because of its thin reserves, analysts said. Both China and India, Asia’s top energy consumers, source around half of their crude imports from the Middle … Read more
Abel emphasizes trust, Berkshire values Analysts say Abel struck the right tone Berkshire reports declining profit for Q4, 2025 (Reuters) – Berkshire Hathaway’s new Chief Executive Greg Abel moved to put his stamp on the conglomerate with his first annual letter to shareholders on Saturday, pledging to maintain its “fortress-like” balance sheet and uphold the … Read more
By Gabriel Cohen | Article/Editing: Niccolo Conte | Graphics/Design: Miranda Smith Key Takeaways Hong Kong ranks first with total debt equal to 380% of GDP, followed by Japan at 372% The U.S. ranks seventh at 264%, led by government debt (123%) and corporate debt (73%) How indebted is your country today? Based on the latest … Read more
Reuters U.S. exports of liquefied natural gas rose more than 17% last month from a year earlier as Venture Global’s Plaquemines plant in Louisiana ramped up production and Cheniere brought on more units at its Corpus Christi facility, preliminary data from financial firm LSEG showed. The U.S. is the world’s largest LNG exporter, and there … Read more
(Reuters) – Iran’s Revolutionary Guards said a fuel tanker was burning in the Strait of Hormuz after being hit by two drones, Iranian news agencies reported on Monday. The strait is the world’s most vital oil export route, connecting the biggest Gulf oil producers, such as Saudi Arabia, Iran, Iraq and the United Arab Emirates, … Read more
(Reuters) – While the U.S. has no plans yet to sell oil from the Strategic Petroleum Reserve, the world’s largest emergency oil stockpile, presidents have long tapped it during times of crisis in attempts to control fuel prices for U.S. consumers. The administration of President Donald Trump is not currently discussing selling oil from the … Read more
(Reuters) – Selling oil from the U.S. Strategic Petroleum Reserve after the U.S. and Israeli attacks on Iran is ‘not currently being discussed’, a U.S. source said on Monday. “Oil markets remain well supplied”, the source said. The SPR, held on the coasts of Louisiana and Texas, is the world’s largest emergency oil stockpile, currently … Read more
(Reuters) – The insurance cost of shipping goods through the Middle East Gulf has surged as much as five times in the past 48 hours since the U.S. and Israeli began airstrikes on Iran, with most underwriters not offering cover for any sailings through the Strait of Hormuz, insurance industry sources said on Monday. War … Read more
QatarEnergy has stopped production of liquefied natural gas (LNG) and related products following military attacks on its operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City, the company said on Monday. The state-owned energy firm did not provide details on the extent of the damage or how long the suspension would last. QatarEnergy … Read more
(Reuters) – Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz. Shipping through the strait between Iran and Oman, which carries around one fifth of oil consumed … Read more
Venture Global said on Monday its adjusted core profit nearly tripled in the fourth quarter, due to higher LNG sales volumes at the Plaquemines Project in Louisiana, sending its shares up nearly 9% in premarket trading. In 2025, the U.S. became the first country to export more than 100 million metric tons (mmt) of liquefied … Read more
Clyde Russell (Reuters) – The OPEC+ decision to lift crude oil output by 206,000 barrels per day (bpd) from April is probably the least consequential decision the group has made in nearly a decade of existence. Adding about 0.2% of global oil demand to supply a month from now is little more than a symbolic … Read more
Summary OPEC+ agrees to raise output by 206,000 bpd US attacks on Iran kill Khamenei, Gulf oil flows disrupted Saudi Arabia and UAE have already raised exports, sources say OPEC has little spare production capacity, analysts say Hormuz needs to reopen for oil to reach markets, analysts say (Reuters) – OPEC+ agreed a modest oil … Read more
Summary South Bow’s plan to revive KXL needs additional links in US Proposal leverages existing infrastructure in Canada Environmental, Indigenous opposition likely for South Bow’s pipeline expansion (Reuters) – A proposal led by Canadian company South Bow to revive parts of the cancelled Keystone XL oil pipeline could increase Canada’s crude exports to the U.S. … Read more
(Reuters) – U.S. average retail gasoline prices are set to break above $3 a gallon on Monday for the first time in more than three months as the conflict between the United States and major oil producer Iran interrupts global oil flows, analysts said. That’s potentially a major risk for President Donald Trump and his Republican Party … Read more
At least three tankers were damaged off the Gulf coast after U.S. and Israeli strikes on Iran triggered Iranian retaliation that put merchant ships at risk of collateral damage, shipping sources and officials said on Sunday. Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and … Read more
Summary Oil rises as much as 13%, but less than some analysts expected Israel hits Tehran again after strikes killed Khamenei Hundreds of ships have dropped anchor in Gulf, data shows European gas benchmark rises more than 25% at peak (Reuters) – Oil and natural gas prices surged on Monday as Israeli and U.S. strikeson … Read more
Takeaways by Bloomberg AI The US reported the first Americans killed in a war with Iran as each side pledged escalating strikes in the days ahead. Iran’s retaliation has spread across the region in the wake of massive missile attacks that killed Supreme Leader Ayatollah Ali Khamenei and other senior officials. Oil and other markets … Read more
The U.S. is not considering releasing oil from its strategic petroleum reserve in the aftermath of strikes on Iran, the Financial Times reported on Saturday, citing a Department of Energy official familiar with the matter.There have been “no discussions at all about the SPR,” the official told the FT, when questioned about steps the Trump … Read more
March 1, 2026 Russian President Vladimir Putin on Sunday condemned the killing of Iranian Supreme Leader Ayatollah Ali Khamenei as a “cynical” murder but he offered little in public to Moscow’s ally beyond condolences. Khamenei is the third Russian ally to be toppled in the past 15 months, following the falls of Moscow-backed leaders in … Read more
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed on Sunday, after U.S. and Israeli strikes on Iran plunged the region into turmoil. The tankers were clustered in open … Read more
Brent crude jumped 10% to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after U.S. and Israeli strikes on Iran plunged the Middle East into a new war.“While the military attacks are themselves supportive for oil prices, the key factor … Read more
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of … Read more
Some oil majors and top trading houses have suspended crude oil and fuel shipments via the Strait of Hormuz amid ongoing U.S. and Israeli attacks on Iran and Tehran’s retaliation, four trading sources said on Saturday “Our ships will stay put for several days,” one top executive at a major trading desk said. (Reporting by … Read more
The United States and Israel launched an attack on Iran on Saturday. The attack could disrupt oil and gas output and cause damage to energy infrastructure in the Middle East. Following are facts on Iran’s energy industry, exports, and the impact of Western sanctions: OIL PRODUCTION AND INFRASTRUCTURE Iran, the third largest producer in the … Read more
The official White House X account released remarks from President Trump early this morning, in regards to the United States combat operations in Iran, which began overnight. The President appears to be seeking regime change in Iran, and said to the Iranian people: “When we are finished, take over your government. It will be yours … Read more
OPEC+ will discuss the possibility of a larger output increase when key members meet on Sunday, after Israel carried out airstrikes on targets in Iran, Bloomberg News reported on Saturday, citing a delegate.
(Reuters) – The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, … Read more
By Timothy Gardner WASHINGTON, Feb 27 (Reuters) – Cheniere Energy Inc (LNG.N) disclosed this week that it got a $370 million tax break from the Trump administration for burning liquefied natural gas in its massive tankers, a credit critics said was meant for far smaller boats. The company said on Thursday in financial disclosures that … Read more
Local media reports strikes are hitting Iran nationwide U.S. and Israel launch an attack on Iran, as U.S. President Donald Trump confirms ‘major combat operations’ are underway. We have launched a live page with all the latest developments. The latest: Trump says U.S. has launched ‘major combat operations’ in Iran. 1st apparent strike hit near … Read more
By Erwin Seba US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week Brent and WTI benchmarks trade at multi-month highs UAE, Saudi to increase output in April, sources say HOUSTON, Feb 27 (Reuters) – Oil prices rose about 2% on Friday with traders bracing for supply disruptions … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six 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 one to 550 in … Read more
NEW YORK, Feb 27 (Reuters) – U.S. oil production fell for the second consecutive month in December to its lowest level since June last year, while demand reached a multi-month high, the Energy Information Administration said on Friday. Crude oil output averaged 13.66 million barrels per day in December, down about 133,000 bpd from November, … Read more
Feb 27 (Reuters) – Barclays said Brent crude could rise to around $80 per barrel in the event of a material supply disruption, as U.S.-Iran tensions remain elevated. “While it is entirely possible that an escalation does not lead to a supply disruption and the $3-5/b risk premium in oil prices fades quickly, even a … Read more
CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) today announced that its common shares have been approved for dual listing on NYSE Texas, a fully electronic equities exchange headquartered in Dallas, Texas, which launched in March 2025. Precision will maintain its primary listing on the New York … Read more
(Reuters) – The shale revolution that made the United States the world’s top oil producer is taking shape in the Arabian Desert. Deep in the sands southeast of Saudi Arabia’s giant Ghawar oilfield, state oil company Aramco is pushing ahead with a natural gas megaproject that could boost the kingdom’s revenues by billions of dollars … Read more
Summary Companies Fusion backers hope to generate power in 2030s Technology would produce nuclear power without long-lived radioactive waste US regulator publishes draft rule on fusion energy WASHINGTON, Feb 26 (Reuters) – Fusion energy, an emerging technology that backers hope will one day generate electricity without producing long-lived radioactive waste, got a path toward … Read more
Summary Brent projected to average $63.85 per barrel in 2026 WTI projected to average $60.38 per barrel in 2026 For table of crude price forecasts, click (Reuters) – Supply risks from ongoing geopolitical tensions have prompted analysts to raise their oil price forecasts for the year, despite concerns that an oversupply will continue to weigh … Read more
By Weilun Soon, Serene Cheong, and Nicholas Lua Iran’s main oil export terminal at Kharg Island in the Persian Gulf. Photographer: Fatemeh Bahrami/Getty Images/Anadolu Rising tensions between the US and Iran have already driven oil prices to a six-month high. Oil traders are watching for any escalation that could disrupt crude production in Iran or … Read more
Summary US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week OPEC+ to consider oil output increase for April, sources say Oil prices rose more than $1 on Friday as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks. Brent … Read more
By Jack Dura Leaders and attorneys for several Greenpeace entities listen to a reporter’s question after a jury’s verdict at the Morton County Courthouse in Mandan, N.D., Wednesday, March 19, 2025. (AP Photo/Jack Dura) BISMARCK, N.D. (AP) — A North Dakota judge has said he will order Greenpeace to pay damages expected to total $345 … Read more
Sales under a flagship oil supply agreement between Venezuela and the U.S. are expected to reach $2 billion by the end of this month, U.S. Secretary of Energy Chris Wright told reporters in Texas on Thursday. The U.S. took control of Venezuela’s oil exports shortly after U.S. forces captured President Nicolas Maduro in early January, … Read more
Venezuela’s oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday. The suspension has had no impact on the country’s oil and gas output so far, the sources said. State oil giant PDVSA is selling … Read more
The Canadian oil-producing province of Alberta forecast a budget deficit of C$9.4 billion ($6.87 billion) for its 2026/27 fiscal year on Thursday, breaking its own rules on allowable deficit financing and blaming lower global crude prices that have walloped the government’s resource revenues. The outlook reflects Alberta’s vulnerability to commodity price fluctuations, prompting the provincial … Read more
Ron Bousso LONDON, Feb 26 (Reuters) – OPEC+ meets on Sunday to set its next production move amid heightened geopolitical friction affecting nearly a third of its output. That volatility may give the group cover to stick to its balanced-market narrative, even if the facts on the ground suggest otherwise. The group, which comprises the Organization of … Read more
(Reuters) – Democrats on the Senate Banking Committee on Tuesday blasted President Donald Trump for failing to ramp up sanctions to pressure Russia to end its four-year war in Ukraine, noting the European Union had designated nearly 900 targets in 2025 compared to just two for the U.S. In an analysis released on the fourth … Read more
(Reuters) – HOUSTON, Feb 25 – U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 16 million barrels to 435.8 million barrels in the week ended February 20, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Bloomberg News President Donald Trump is convening technology executives at the White House next week to sign pledges committing their companies to foot the electricity bill for energy-hungry data centres. Representatives of firms including Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and Google parent Alphabet Inc. are expected to attend a March 4 event with the president, a White House official said. Others on the invite … Read more
Summary US oil stockpiles rise by the most in three years US-Iran nuclear talks seek to avert military conflict Saudi Arabia boosts oil output (Reuters) – Oil prices fell on Thursday after the biggest jump in U.S. crude inventories in three years, with signs of weakness in the physical oil market also weighing on prices, … Read more
By Emma Sanchez A Tenaris frack set in the Vaca Muerta formation in Argentina, one of the world’s largest shale gas reservoirs. Source: Tenaris US fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere. Over the past two … Read more
(Reuters) – The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday. The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. … Read more
(Reuters) – Several countries have begun withdrawing dependents of diplomatic personnel and non-essential staff from some locations in the Middle East, or advising citizens to defer travel to Iran, amid rising tensions between Washington and Tehran. Here are some of the moves: AUSTRALIA: The government has told dependents of Australian diplomats in Israel and Lebanon … Read more
(Reuters) – OPEC+ is likely to consider raising its oil output by 137,000 barrels per day for April, three sources with knowledge of OPEC+ thinking said as the group prepares for peak summer demand and a price boost from tensions between the U.S. and OPEC member Iran. The resumption of output increases after a three-month … Read more
(Reuters) – U.S. crude oil imports from Venezuela rose to their highest since January 2025, the U.S. Energy Information Administration’s (EIA) said on Wednesday. Imports from Venezuela rose by 290,000 barrels per day (bpd) to 339,000 bpd in the week ended February 20, according to data from the EIA’s Petroleum Supply Report. Reporting by Nicole … Read more
(Reuters) – Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the … Read more
CALGARY, Alberta (Feb. 25, 2026) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy‑dedicated SaaS company that leverages generative AI across its solutions, released a new analysis examining how recently approved fast-track interconnection processes are reshaping U.S. power market reliability across the PJM, Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP) … Read more
Ron Bousso (Reuters) – Big Tech’s race to dominate artificial intelligence may soon hit a nasty road bump as U.S. electricity grids struggle to keep pace with the big-spending hyperscalers. America’s technology giants, including Microsoft, Amazon, Alphabet and Meta, have in recent months announced plans to spend over $600 billion on AI in 2026 alone. The investment wave has already fuelled … Read more
Goa, India – GLJ Ltd. (“GLJ”) and Techno Canada Inc. (“TCI”) are pleased to announce the signing of a new joint venture agreement, GLJ WW Private Limited, formalized on January 27, 2026, at the opening day of India Energy Week 2026 in Goa. This joint venture brings together two firms with complementary strengths: certification, engineering studies, and evaluations. Building on that … Read more
By Julian Hast US natural gas futures settled down in thin trading, closing to the lowest in about five months as forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Traders were also pricing in an increasingly low probability of an unexpected cold snap draining supplies as the winter heating season draws … Read more
(Reuters) – President Donald Trump said on Tuesday during his State of the Union address that his administration has told major technology companies they must build their own power plants for their data centers, a measure meant to protect consumers from rising bills. The announcement comes amid growing local opposition to energy-hungry data center projects … Read more
Summary US-Iran talks could prevent conflict and supply disruption Deal with US hinges on diplomacy, Iranian minister says US oil stocks rise and gasoline inventories fall, API data shows (Reuters) – Oil prices held around seven-month highs on Wednesday as investors weighed up the threat to oil supply from potential military conflict between the U.S. … Read more
(Reuters) – The oil industry needs crude prices to rise and sustain at $70 per barrel in order to grow output, executives said on Tuesday. U.S. oil production can be maintained at its current level in the $60 to $65 price range, said Vicki Hollub, CEO of U.S. oil producer Occidental, during an Energy Aspects … Read more
HOUSTON, Feb 24 (Reuters) – U.S. oil major Chevron (CVX.N) has sold its first cargo of Venezuelan crude oil to India’s Reliance Industries (RELI.NS) since December 2023, according to ship tracking data and two sources. Chevron (CVX.N) negotiated the Boscan crude cargo to Reliance this month, marking the first sale of the heavy oil, which … Read more
HOUSTON, Feb. 24, 2026 /PRNewswire/ — EOG Resources, Inc. (EOG) today reported fourth quarter and full-year 2025 results. The attached schedules for the reconciliation of Non-GAAP measures to GAAP measures, along with a related presentation, are also available on EOG’s website at http://investors.eogresources.com/investors. Fourth Quarter Highlights Oil, NGLs and natural gas production and total per-unit operating costs … Read more
Big trucks and engines are back among US automakers, even as electrics gain ground around the globe. By Keith Naughton and David Welch Detroit under Donald Trump has rediscovered its love of the big, roaring engine. By gutting climate regulations, the president has freed US automakers to sell as many gas-burning trucks and SUVs as … Read more
(Reuters) – In the ten years since the first export cargo of liquefied natural gas (LNG) left Texas, the United States has grown rapidly into the top supplier of the ultra-cooled fuel to world consumers. That dramatic expansion shows no sign of slowing down, with analysts and industry executives projecting that record U.S. LNG export … Read more
(Reuters) – Iran’s Foreign Minister Abbas Araqchi said on Tuesday that a deal with the U.S. was “within reach, but only if diplomacy is given priority”, days ahead of expected talks between the two sides in Geneva. “Iran will resume talks with the U.S. in Geneva with a determination to achieve a fair and equitable … Read more
Feb 24 (Reuters) – Alphabet’s (GOOGL.O) Google doubled down on efforts to secure power supply for its data centers across the country by entering into separate agreements with U.S. utilities, AES Corp (AES.N) and Xcel Energy (XEL.O), on Tuesday. Big Tech firms have been scouring for new, reliable and cleaner energy sources to power their … Read more
(Reuters) – Argentina’s shale oil resource could be similar in size to that of the Permian Basin, the top oilfield in the U.S., Continental Resources CEO Doug Lawler said on Tuesday. Argentina’s projections show that oil output could reach 1.5 million to 2 million barrels per day in the next few years, but the U.S. … Read more
Insights for developers and investors to navigate interconnection risk and accelerate portfolio and project success AUSTIN, Texas (Feb. 24, 2026) Enverus, the leading energy SaaS and analytics platform, has released its 2026 Interconnection Queue Outlook. The report delivers a comprehensive view of power generation and transmission projects seeking connection to the U.S. power grid. Interconnection queues … Read more
By Hadeel Al Sayegh Summary KPC seeks $7 billion by leasing oil pipelines, sources BlackRock, Brookfield, others show interest in KPC deal, sources KPC transaction could launch end of February, sources Feb 24 (Reuters) – National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over … Read more
The vessel Sea Horse, expected to arrive in early March, is carrying much-needed fuels to Cuba Bloomberg News A ship believed to be carrying Russian fuels is on its way to Cuba, putting U.S. President Donald Trump’s sanctions to the test amid the island’s deepening energy crisis. The vessel Sea Horse, expected to arrive in early … Read more
The line from Canada to Wyoming could potentially piggyback off pipe laid for the cancelled project This Article and More by Meghan Potkins Here A major new oil pipeline proposed to carry crude from the Canadian border to a hub in Wyoming could potentially piggyback off of existing pipe laid for the cancelled Keystone XL project, … Read more
Ron Bousso (Reuters) – A serious military confrontation between the U.S. and Iran could trigger a major disruption in Middle East oil supplies. The vast oil reserves the U.S. and China hold could prove critical in containing it. For now, uncertainty dominates in this protracted standoff, with U.S. and Iranian officials continuing to hold indirect talks, as American military … Read more
U.S. natural gas futures rose about 1% to a one-week high on Monday on near-record LNG export flows and forecasts for more demand than previously expected over the next two weeks as another winter storm buries the U.S. Northeast in snow. Gas futures for March delivery on the New York Mercantile Exchange rose 4.3 cents, … Read more
U.S. power plants scheduled to be retired in 2026 could stay online longer, the Department of Energy’s research arm said on Monday, building on a trend that began last year as electricity use and prices hit record levels in some parts of the country. Across the U.S., some 11 gigawatts of power-generating capacity had been … Read more
(Reuters) – Oil prices have been a consistent disinflationary force for the U.S. and global economies since mid-2024. That may be about to change. Fueled by signs of a solid upturn in economic activity at the start of the year and bubbling U.S.-Iran tensions that could spark military conflict, Brent and West Texas Intermediate crude … Read more
Summary Both crude benchmarks hover near seven-month highs US-Iran tensions key market driver in near term, analysts say US tariff situation creating market uncertainty (Reuters) – Oil prices hovered near seven-month highs on Tuesday, with traders assessing risks to supply from any military escalation as another round of U.S.-Iran nuclear talks loomed. Brent crude futures … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Average oil production of 512.8 MBO/d (969.1 MBOE/d) Net cash provided by operating activities of … Read more
Feb 23 (Reuters) – Dominion Energy (D.N) forecast annual profit below Wall Street expectations on Monday, but raised its five-year capital spending plan by nearly 30% as the utility ramps up its efforts to meet soaring electricity demand. U.S. utilities have been adding billions of dollars to their capital expenditure budgets amid extreme weather conditions … Read more
Reuters U.S. spot natural gas prices for Monday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 12th time in a row as pipeline constraints trap gas in the nation’s biggest oil-producing basin, forcing some energy firms to pay others to take gas associated with their … Read more
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