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Dow Surges Over 300 Points, Crude Oil Hits Over 3-Month Lows Amid Iran Deal Talks — Bessent Issues 60-Day Authorization For Iranian Oil Sales
The S&P 500 index gained about 0.3%, while the Nasdaq Composite edged up by 0.08%....
U.S. oil prices fall below $74 a barrel on 60-day pause on Iranian oil sanctions
Oil prices fall on hopes that more Iranian crude will hit the global market as supplies near critica...
Heatwave, Hormuz Threats and Qatar Blast Push European Gas Prices Higher
Europe’s benchmark natural gas prices rose by nearly 2% on Monday morning in Amsterdam as a heatwave...
What's Stopping the Trans-Caspian Pipeline After 27 Years?
With the Iran war disrupting traditional energy supply routes and the West seeking to lessen reliance on Russian transit networks, Trans-Caspian corridors have again emerged as a focus of internationa ...
UK Clean Tech Firms Plan Europe's Biggest Direct Air Capture Project
UK clean energy technology firms have set up a joint venture to build and operate Europe's biggest direct air capture project. Carbon capture technology developers Airhive and Mission Zero Technologie ...
Guyana’s Oil Boom Gets a Major Boost From $100 Crude
Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing ...
India Flags Second Tanker Incident Off Oman Within 24 Hours
India reported on Thursday a new incident with a tanker off the coast of Oman amid escalating U.S.-Iran tensions in the area, following the death of three Indian seafarers in a U.S. hit on another ves ...
Trump Says U.S. Will Hit Iran Again Tonight, Eyes Control of Its Oil Sector
President Donald Trump on Thursday threatened to seize Iran's main oil export hub, Kharg Island, and assume "total control" of the country's oil and gas markets, drawing a direct line to the U.S. oper ...
Sanctioned Private Chinese Refiner Seeks Non-Iranian Crude
Hengli Petrochemical, the privately-owned Chinese refiner that was sanctioned by the U.S. in April over allegedly buying Iranian oil, is looking to buy crude from other Middle Eastern producers and We ...
Another Gulf Producer Joins Dark-Mode Tanker Traffic Through Hormuz
Kuwait appears to have joined a growing bunch of Middle Eastern oil and gas producers that have moved to ship energy cargoes in dark mode through the Strait of Hormuz. The liquefied petroleum gas (LPG ...
India Secures Crude Supply Through August with Higher UAE Imports
Indian refiners have secured crude supply at least through August as they boost purchases from the United Arab Emirates (UAE), Africa, and Brazil, trade sources told Reuters on Thursday. India's state ...
Japan Taps Reserves and New Suppliers to Beat the Oil Blockade
Despite the Hormuz crisis, Japan has secured the same volumes of oil imports for July as it did a year ago, as it is boosting imports from producers not dependent on the Strait to deliver their crude, ...
Trans Mountain Oil Pipeline Hits Full Capacity as Asian Demand Surges
The Trans Mountain pipeline has reached full capacity for the first time since its expansion was completed, boosting the pipe’s total carrying capability to 890,000 barrels daily. Indeed, this month t ...
SLB Lands Major Deal to Help Rebuild Venezuela’s Oil Industry
SLB has signed a long-term contract with Venezuela’s PDVSA to reverse a major decline in oil production and modernize the country’s oil industry. “Venezuela's oil and gas sector has substantial resour ...
OPEC Oil Production Falls to Lowest Level Since 2000
Crude oil production among members of OPEC has this year collapsed to a generational low, at just 16.13 million barrels daily, Reuters reported, citing a regular survey it conducts on OPEC production. ...