Oil prices dip 0.5% amid mixed signals on a US-Iran agreement and geopolitical tensions in the Strait of Hormuz. West Texas Intermediate crude trades near $84.65-$84.70, down 0.5% on the day, after hitting its lowest level since mid-April. The decline follows conflicting r
The agreements include Shell's participation in Venezuela's 7 Tcf Loran offshore gas field, advancing previously signed preliminary deals. Shell and Venezuela’s government finalized five agreements to develop oil and gas projects, including Shell’s involvement in the 7 tri
The exchange rolls out round-the-clock access for smaller contracts amid 300% growth in micro WTI volumes year-on-year. CME Group will introduce 24/7 trading for 10-Barrel WTI crude oil futures on August 30 and extend it to 1-Ounce gold futures from July 26, pending regula
Sophisticated scams target oil traders with fake storage offers The port of Rotterdam has seen a rise in oil storage scams, with fraudsters using fake documents and websites to lure traders into paying for non-existent storage. The scams have been ongoing for about
Baghdad seeks to regain control over its hydrocarbon sector as regional tensions and economic survival reshape energy policies beyond OPEC quotas. Iraq’s government is attempting to centralize and rebuild its oil sector, shifting focus from production figures and OPEC quot
Oil demand growth to outpace non-OPEC supply additions OPEC forecasts the oil market will remain relatively tight through next year. The organization's June Monthly Oil Market Report shows crude production from countries participating in the Declaration of Cooperat
Brits are racing to get their hands on electric vehicles after a surge in oil prices triggered by the war in Iran has driven away demand for petrol and diesel cars, one of the UK’s biggest used car supermarkets has said. London-listed Motorpoint, which has seen its shares
For nearly seven years, the largest IPO in history belonged to an oil company. Not just any oil company Saudi Aramco, the crown jewel of the world's largest crude exporter, raised $29.4 billion in its 2019 market debut, cementing what many viewed as the ultimate vic
Shell’s chief executive forecasts sustained upward pressure on oil prices due to growing demand and supply challenges post-conflict. Shell CEO Wael Sawan expects oil prices to continue climbing even after the Middle East conflict ends, citing persistent global demand growt
The Strait of Hormuz has become the pressure point of the global energy system. The war has already deprived global markets of 1 billion barrels of crude oil and petroleum products Supply from the Middle East has been severely disrupted, and there is now rising unce
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