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.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.3 million barrels from the week ending January 16 to the week ending January 23.
The U.S. federal government is discussing the removal of some sanctions on Venezuela’s oil industry to make it easier for U.S. companies to boost Venezuela’s oil production under a deal worth $2 billion announced by President Trump earlier this month after the ousting of President Nicolas Maduro.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a draw of 1.9 million barrels in the week ending November 21. Crude oil inventories gained 4.4 million barrels in the week prior.