A 2.3 million barrel crude inventory decline fell short of forecasts as geopolitical risks in the Middle East lifted oil prices. Crude oil prices climbed on Tuesday as U.S.-Iran tensions persisted, overshadowing a smaller-than-expected inventory draw reported in a private
A 2.3 million barrel crude inventory decline fell short of forecasts as geopolitical risks in the Middle East lifted oil prices. Crude oil prices climbed on Tuesday as U.S.-Iran tensions persisted, overshadowing a smaller-than-expected inventory draw reported in a private
Crude prices jump above a key technical level as US-Iran negotiations fail, tightening supply risks in the Strait of Hormuz. Crude oil futures settled at $102.18, rising $4.11 or 4.19% as the breakdown in US-Iran peace talks disrupted near-term supply expectations. The ral
Brent crude rises to USD 107 per barrel as geopolitical risks and China’s declining imports tighten supply dynamics. Brent crude prices climbed USD 7 to USD 107 per barrel amid escalating Iran-US tensions and uncertainty over a potential gasoline tax suspension in the US.
EIA forecasts prolonged Strait of Hormuz closure could push oil prices $20 higher amid OPEC output hitting two-decade lows. West Texas Intermediate crude jumped over 3% to $98.38 per barrel Tuesday as escalating US-Iran tensions threaten supply routes. The rally follows wa
EIA to track global strategic petroleum reserves and energy flows The U.S. Energy Information Administration will start publishing a new quarterly report on global strategic petroleum reserves and energy flows through major shipping choke points. The report will in
Italian energy group seeks external capital for floating LNG assets while retaining operational control, targeting at least €1 billion. Eni has engaged Morgan Stanley to structure a fund deal for its floating liquefied natural gas (FLNG) assets, aiming to raise at least €1
Petrobras reports a 0.8% share decline after Q1 profit drops, missing benefits from surging crude and a weaker Brazilian real. Petrobras (PBR) posted lower first-quarter profits, failing to capitalize on rising oil prices and a depreciated U.S. dollar against the Brazilian
U.S. Energy Information Administration forecasts extended disruption in key oil transit route, lowering 2026 price outlook for WTI and Brent. The U.S. Energy Information Administration expects the Strait of Hormuz to remain closed through late May, disrupting 10.5 million
Rising LNG prices and Middle East supply disruptions push top Asian importers to increase coal-fired power generation and imports. Japan and South Korea, the world’s second- and third-largest LNG importers, have ramped up coal power generation and imports due to surging LN
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