Oil's war premium just got served a big haymaker on June 12, following reports that U.S. and Iranian officials had agreed on a peace-deal text, according to The Washington Post. Naturally, that raised hopes that the Strait of Hormuz could reopen, a major artery for global
Oil markets extended their decline on Friday, with crude prices falling sharply after U.S. President Donald Trump said a peace agreement with Iran was close and canceled previously threatened military strikes Brent crude slipped below $90 per barrel, trading around
The deal with SBM Offshore aims to produce over 1 billion barrels of oil equivalent from Brazil’s Sergipe-Alagoas basin. Petrobras signed contracts with SBM Offshore for two floating production storage and offloading vessels (FPSOs) to develop its Sergipe deepwater project
Jamaica may be following in the footsteps of its Caribbean neighbours, such as Guyana, as it plans to drill for oil, despite being highly vulnerable to climate change. In recent years, Caribbean oil exploration has boomed, following successful drilling in Guyana and Surina
The British government sets a 2027 deadline to close a sanctions loophole allowing diesel and jet fuel refined from Russian crude in third countries. The UK will ban imports of diesel and jet fuel refined from Russian crude in third countries starting January 1, 2027. The
Baker Hughes data shows active oil rigs increased by 2 to 433, while gas rigs declined by 3 to 121. The number of active oil rigs in the US climbed by 2 to 433 in the latest reporting period, marking the second consecutive weekly increase. Total rigs, including oil, gas, a
U.S. Energy Secretary Chris Wright just gave the market a number that helps explain why Brent crude isn't trading at $150 per barrel Speaking at a Bloomberg Energy event in Houston on Friday, Wright said the U.S. military is now helping move roughly 7 million barrel
Over 136 million barrels of non-Iranian crude have transited the Strait despite Tehran’s closure threats, easing supply concerns. Oil markets initially braced for a historic supply shock after Iran declared the Strait of Hormuz closed, with forecasts of lost exports reachi
Quick Read - XLE has surged 31% year-to-date, nearly four times the S&P 500's return, with Exxon and Chevron alone comprising 41% of the concentrated fund. - Exxon beat earnings estimates by 15% and Chevron by 46% as the Strait of Hormuz closure drove Brent crude to $138 per...</
Quick Read - Energy Transfer (ET) yields ~7% with Q1 EBITDA up 20% year over year, while Enterprise Products Partners (EPD) has grown distributions for 27 consecutive years. - Fee-based midstream cash flows stay largely intact even as EIA forecasts Brent fading to $79 by 2027,...
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