A U.S. official refuted reports of sanction relief, sparking a 2% recovery in crude prices after an earlier sharp selloff. Crude oil prices reversed earlier losses after a U.S. official denied reports that the United States had agreed to lift oil sanctions during negotiati
The United Arab Emirates (UAE) plans to speed up construction of a new oil pipeline to double its export capacity through the port of Fujairah by 2027, according to the Abu Dhabi Media Office. This development is expected to increase the UAE’s ability to ship oil outside t
Brazil’s March 2026 oil production reached a record, positioning it as a key non-OPEC supplier amid Middle East tensions. Brazil’s oil production surged to a record high in March 2026, reinforcing its role as a critical non-Middle Eastern energy supplier. The milestone com
Cameco, Occidental Petroleum, and Cheniere Energy gain over 24% in 2026 amid soaring electricity and oil demand. Energy stocks are climbing as data centers drive unprecedented electricity demand, with Bank of America forecasting a fivefold increase in growth over the next
Chevron’s CEO Just Warned of Physical Oil Shortages. This $6 Offshore Driller Is Up 171% and Still Trades Below Book Value Quick Read - Transocean (RIG), the world’s largest pure-play offshore contract driller, posted Q4 2025 contract drilling revenue of $1.043B up 9.6% ye
BNY's Bob Savage highlights that the Iran conflict, a drone attack in the United Arab Emirates (UAE) and refinery constraints are pushing Brent toward $110, with fears of airline shutdowns and refinery limits. The UAE’s strategic exit from OPEC/OPEC+ and focus on bypassing
Tungsten prices surge to $3,000 per metric ton, pushing oilfield equipment producers to adopt cheaper steel alternatives. U.S. drill bit manufacturers are accelerating production of steel-body bits to offset soaring tungsten costs. Tungsten prices have surged from $600 to
Chinese refiners slashed their crude runs to the lowest level since August 2022 as China has reduced refinery utilization and slashed crude imports as oil prices soar amid the Iran war. Crude throughput at Chinese refineries slumped by 5.8% in April from a year earlier, to
Oil prices retreat as Tehran hints at restoring safe transit through the Strait of Hormuz amid US negotiations. West Texas Intermediate crude fell to $101.50 from session highs near $104.00 after Iran signaled progress in talks to reopen the Strait of Hormuz. Tehran’s Fore
Ether declines nearly 10% in a week as rising oil prices, driven by US-Iran tensions, weigh on cryptocurrency markets. Ether dropped to $2,100 on Monday, extending a 10% weekly decline, as surging oil prices fueled selling pressure. Fundstrat analysts noted a record invers
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