Analysts warn global crude stockpiles have fallen to operational minimums despite easing Hormuz tensions, pressuring prices. Brent crude dropped below $80 per barrel as concerns over depleted global oil inventories overshadowed optimism about a potential reopening of the S
Bank warns upside risks dominate as low inventories and disruption premiums could push oil above $130 by year-end. Goldman Sachs forecasts Brent crude at $80 by year-end and $75 in 2027, citing limited downside as markets have largely priced in supply recovery. The bank hi
Long-haul trucking's reliance on diesel may be overstated as battery technology advances and operating costs shift. Analysts warn that diesel demand in long-haul trucking could decline faster than expected, despite industry assumptions about energy density limitations. Whi
Oil sands production costs have decreased significantly The Canadian oil sands have become one of North America's lowest-cost oil producers. After the 2014-15 oil price crash, major energy companies like BP, Chevron, and TotalEnergies sold their interests in the Ca
The International Energy Agency projects a 5 million barrel per day oil surplus in 2027 as supply growth outpaces demand. The International Energy Agency warned of a potential 5 million barrel per day oil surplus in 2027 if Middle East production and exports rebound follow
Crude prices surged briefly amid speculation over stalled Iran nuclear talks but reversed as no concrete developments emerged. Oil prices jumped sharply before paring gains as traders reacted to unconfirmed reports suggesting progress on the Iran nuclear deal remained unli
EIA data shows commercial crude inventories fell to 418.2 million barrels, 6% below the five-year average for mid-June. US commercial crude oil inventories declined by 8.3 million barrels in the week ending June 12, extending a downward trend. The drawdown reduced stockpil
EIA data shows a third straight weekly crude inventory decline, exceeding forecasts and marking the largest three-week draw on record. US crude oil inventories fell by 8263K barrels last week, surpassing the expected 4566K draw, according to government data. The decline ex
Australian-listed Bass Oil secures 100% interest in a shut-in gas field with 1.1 billion cubic feet of prior production. Bass Oil has finalized the acquisition of the Vanessa gas field in South Australia’s Cooper Basin, gaining full control of PPL 268 and PRL 135. The deal
Oil benchmarks stabilize after a 5% drop as investors weigh potential Iranian supply increases under a new US agreement. Brent crude futures rose $0.02 to $78.98 per barrel, while US WTI crude gained $0.03 to $76.08, both near three-month lows. The moves follow a 5% declin
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