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
Brent and WTI crude prices stabilize as traders assess potential Iranian supply boost and long-term oversupply risks. Oil prices remained near three-month lows Wednesday, with Brent crude at $79.26 and WTI at $76.29, as markets weighed a potential U.S.-Iran peace deal agai
Analysts observe divergent normalization in spot prices, volatility, and option skew following the agreement’s implementation. Brent oil markets are normalizing after the US-Iran deal, but adjustments vary across key metrics. Spot prices, 3-month implied volatility, and 25
A pay agreement at Ichthys LNG facilities removes a key supply disruption risk amid tight global gas markets. A weeks-long strike at Australia’s Ichthys LNG facility concluded after trade unions and operator Inpex reached a pay and benefits settlement. The deal, endorsed b
A 30% plunge in crude prices eases near-term inflation concerns, potentially altering the Fed’s rate outlook despite hawkish signals. Brent crude oil fell below $80 per barrel for the first time since March, capping a 30% decline from its May peak. The sharp drop has reduc
WTI oil price remains low due to easing supply concerns West Texas Intermediate oil price is subdued for the fifth day, trading around $75.60 per barrel. The decline in crude oil prices is due to investors weighing the impact of an upcoming US-Iran peace deal.
Gasoline car sales in China drop 22% in May Higher fuel prices resulting from the Middle East crisis have led to a decline in gasoline car demand in China. Discounts on gasoline cars have almost doubled over the first five months of the year as oil and fuel prices
The International Energy Agency projects a 1.1 million barrels per day decline in global oil demand for 2026, widening a supply overhang. The International Energy Agency revised its 2026 oil demand forecast downward to a 1.1 million barrels per day decline, up from a previ
Two crude carriers reverse course toward Fujairah after reports of a potential US-Iran agreement ease Hormuz transit risks. Two oil tankers, including a Suezmax and a very large crude carrier, have reversed course toward the UAE’s Fujairah port after initially heading to A
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