Days after saying it would not extend a sanction waiver for Russian crude sold to Indian refiners, the U.S. Treasury Department changed its mind and extended the waiver for two weeks until mid-May.
U.S. officials are pressing domestic oil producers to increase output as disruptions in the Strait of Hormuz tighten global supply and push crude prices higher.
The Trump administration sanctioned more than a dozen entities tied to the network of Iranian oil kingpin Hossein Shamkhani, part of its campaign to maintain pressure on Tehran amid diplomatic talks and a standoff in the Strait of Hormuz.
Oil prices surged back above $100 a barrel in early Asian trade following the collapse of U.S.-Iran negotiations and Trump’s announcement that the U.S. would blockade the Strait of Hormuz. At the time of writing, West Texas Intermediate was trading at $105.30 per barrel, up 9.04%, while Brent had risen 8.55% to trade at $103.30. Both benchmarks remain roughly […]
Oil and natural gas prices dropped sharply after the U.S. and Iran agreed to a two-week ceasefire aimed at halting the six-week conflict, though uncertainty persists over the timing of resumed flows through the Strait of Hormuz.
The Endangered Species Committee, a little-used panel of U.S. senior federal agency leaders, voted on Tuesday morning to exempt oil and gas drilling in the Gulf of America/Gulf of Mexico from sweeping endangered species protections, citing reasons of national security.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.5 million barrels from the week ending February 20 to the week ending February 27.
Equinor ASA, Norway’s biggest oil and gas producer, is looking to sell a number of Angolan fields, according to people familiar with the matter.
The U.S. government issued a general license to allow oilfield-service companies to work in Venezuela as the Trump administration eases sanctions and pushes to rebuild the nation’s crude infrastructure.
The U.S. government is preparing to issue a general license allowing companies to pump oil in Venezuela, part of the Trump administration’s plan to ease sanctions and rebuild the nation’s moribund energy industry.