Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended July 24: 404.5M barrels. - Crude inventory change: -7.2M barrels vs. +2M barrels for the week ended July 17. - Consensus estimate: 0.700M. - Gasoline inventory change: flat vs. +0.8M</
Taiwan has suspended approximately 500,000 metric tons of liquefied natural gas purchases from Papua New Guinea every six months, removing roughly $800 million of spot-market demand after Port Moresby ordered the closure of Taipei’s representative office. The decision leav
The value of energy trade between the United States and Canada fell by 11% in 2025 to an estimated $137 billion, according to data from the U.S. Energy trade value is the total value of energy imports and exports between two countries and is driven by commodity volumes and
Renewed Iranian-US hostilities lift Brent oil prices Renewed Iranian-US hostilities have lifted Brent oil prices by more than 3%, reviving the inflation channel. The increase in oil prices is attributed to the US interception of Iranian missiles and retaliatory str
By Mircely Guanipa , Tibisay Romero and Deisy Buitrago PUNTO FIJO/EL PALITO, Venezuela, July 29 The Paraguana Refining Center in Western Venezuela once symbolized the country's oil wealth and its ambition to turn vast crude reserves into fuels and export revenue. Today, th
A $5 billion refinery with 200,000 barrels per day capacity will be built by a U.S.-Saudi consortium in the Persian Gulf. A U.S.-Saudi consortium plans to construct a $5 billion refinery in the Persian Gulf, targeting a daily capacity of 200,000 barrels of crude oil. The p
Geopolitical escalation and a 3.3 million barrel draw in US inventories lift crude prices amid fears of energy supply disruptions. West Texas Intermediate crude oil climbed back to around $81.00 per barrel Wednesday, reversing a three-day decline as renewed Middle East hos
Attacks on US troops and Saudi energy infrastructure heighten risks of prolonged disruptions, tightening refined product markets. Brent crude rebounded more than 4% after a three-day sell-off, driven by escalating tensions in the Persian Gulf. The US intercepted attacks on
UAE continues LNG shipments through the Strait of Hormuz amid heightened tensions following recent Iranian attacks on energy carriers. An ADNOC LNG tanker successfully transited the Strait of Hormuz earlier today, despite security threats in the region. The vessel reported
The move signals a policy shift toward energy security, reversing a prior government’s ban on offshore oil and gas exploration. New Zealand has awarded its first offshore oil and gas exploration license since lifting a 2023 drilling ban. The license was granted to Australi
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