Commercial vessel traffic through the crucial Strait of Hormuz appeared to remain limited over the past day, amid uncertainty over prospects for a U.S.-Iran peace deal. Just two inbound commercial transits were observed on Tuesday morning, following two outbound ships on Monday, according to ship-tracking data compiled by Bloomberg. Shipowners had recently become more optimistic about a […]
US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in the Islamic Republic in response – the latest flare-up to test a fragile ceasefire. US Central Command said Iran on Tuesday launched several ballistic missiles toward countries including Kuwait and Bahrain. Some were shot down by […]
The oil and gas crunch caused by the war between the U.S., Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still. The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a […]
The US Bureau of Ocean Energy Management has announced plans for its third offshore oil and gas lease sale in the Gulf of America under the One Big Beautiful Bill Act, scheduled for August 12, 2026, Reuters reported on Wednesday. The proposed BBG3 lease sale will offer around 15,066 blocks covering 80.4 million acres (more […]
U.S. Energy Secretary Chris Wright has issued a one-year deadline for the International Energy Agency (IEA) to abandon its net-zero emissions agenda or risk the United States withdrawing from the organization. Speaking at an IEA ministerial meeting in Paris, Wright criticized IEA’s goal for the world to achieve net zero by 2050 as a “destructive illusion” with […]
US forces boarded an oil tanker after a cat-and-mouse chase from the Caribbean to the Indian Ocean, the Pentagon said, as Washington expands its geographic scope in an ongoing crackdown on a global shadow fleet used to export sanctioned crude
The U.S. is projected to produce almost a quarter of the world’s petroleum and other liquid fuels output in 2026 in the U.S. Energy Information Administration’s (EIA) latest short term energy outlook.
In an oil and gas report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up by 4.9 million barrels for the week ending November 21.
The company signed an agreement to acquire a 10% direct stake in the joint venture developing the train and will offtake 1.5 million tonnes per year (tpy) of LNG. Through its 17.1% stake in NextDecade, it also indirectly holds nearly 7% of the train.
In its latest weekly petroleum status report at the time of writing, which was released on July 30 and included data for the week ending July 25, the U.S. Energy Information Administration (EIA) highlighted that U.S. commercial crude oil inventories, excluding those in the SPR, increased by 7.7 million barrels from the week ending July 18 to the week ending July 25.