Geopolitical tensions in the Strait of Hormuz and Red Sea disrupt Asia’s energy supply chains, prompting a shift toward alternative hubs. Asia’s energy security framework, built on the assumption of stable Strait of Hormuz flows, is unraveling due to escalating geopolitica
Oil benchmarks erased earlier losses after Iran dismissed hopes for a swift agreement with the U.S., lifting prices from two-week lows. Oil prices reversed course Friday, with Brent crude rising 0.78% and WTI climbing 0.20% to $96.54. The gains followed Iran’s dismissal of
Digitalization and artificial intelligence (AI) will create close to $500 billion in cumulative value for E&P companies between 2026 and 2030, according to Rystad Energy estimates. This value is captured through cost reductions from more efficient operations, production in
Crude prices fell to $94.73 as Tehran negotiations near agreement, easing supply concerns amid sanctions relief talks. Crude oil prices hit a new low of $94.73 before settling at $95.84, the lowest level since May 8, as negotiations in Tehran advanced toward a nuclear agre
The collaboration introduces institutional-grade oil trading on OKX using ICE’s Brent and WTI benchmarks. Crypto exchange OKX and Intercontinental Exchange (ICE) announced a partnership to launch perpetual futures tied to ICE’s Brent Crude and WTI Crude benchmarks. The mov
Baker Hughes reports a weekly increase in total rigs, driven by oil rig gains, while crude prices remain below key moving averages. The US total rig count climbed by 5 to 758 in the latest week, led by a 10-rig increase in oil rigs to 425. Natural gas rigs fell by 3 to 125
Baker Hughes data shows a weekly increase in active oil rigs, signaling higher drilling activity amid rising oil prices. The number of active oil rigs in the US climbed by 10 to 425 in the latest reporting period, according to industry data. This marks a rebound in drillin
Global oil markets remain under severe stress as Hormuz disruptions, weak economic data, and tightening inventories reshape energy flows worldwide. Friday, May 22, 2026 In a week of contradicting narratives, the largest ever US inventory drawdown sparked only a minor bulli
The partnership targets global investors with crypto-native derivatives tied to Brent and WTI benchmarks amid rising Middle East tensions. Intercontinental Exchange and OKX are introducing regulated perpetual futures linked to Brent and WTI oil benchmarks for traders outsi
NYSE parent Intercontinental Exchange (ICE) and crypto exchange OKX announced plans to launch perpetual oil futures tied to Brent and WTI benchmarks. The contracts will never expire and will roll out where OKX holds licenses to offer perpetuals The product is the fi
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