API data shows a second consecutive weekly build in US crude inventories, offsetting Strategic Petroleum Reserve releases. US crude oil inventories increased by 3.296 million barrels in the week ending July 24, marking a second straight weekly rise. The build comes despite
The group plans a final 188,000 bpd rise next month before halting further quota increases through year-end. OPEC+ will approve a 188,000-barrel-per-day increase in its combined September output target, matching prior monthly hikes. The move completes the phased return of
Magnolia Oil & Gas upgraded to Buy with $33 price target Magnolia Oil & Gas was upgraded to Buy from Hold. The upgrade came with a $33 price target. The company's shares were down 1.8% despite the upgrade, as energy shares moved lower with U.S. crude oil futures
The group plans no further production hikes this year after a 188,000 BPD increase in September ends phased rollbacks. OPEC+ will pause its output increases following a 188,000 barrels per day (BPD) rise in September, ending its phased rollback of a 1.65 million BPD supply
Oil prices are plummeting again, but the benchmark used for most fuel surcharges has risen for a third consecutive week. The Department of Energy/Energy Information Administration average weekly retail diesel price climbed 17.9 cents/gallon to $5.313/g, effective Monday bu
Oil prices fall nearly 4% to $77.90 after a 9% drop Monday amid reduced geopolitical risks in the Middle East. West Texas Intermediate crude extended losses Tuesday, trading near $77.90 after a 4% decline on the day. The drop follows a 9% plunge Monday as tensions between
Trump's latest comments cooled oil prices, but talks over ending the Strait of Hormuz blockade could prove far more consequential. Hedge Funds Pile Back into Oil as Chokepoint Risks Return - The signing of the US-Iran Memorandum of Understanding triggered one of the larges
Oil prices fall as diplomatic progress between the US and Iran eases immediate strike fears but supply risks persist. Brent crude prices dropped sharply after the US and Iran paused military strikes, with President Trump indicating a potential deal. The selloff reflects ma
The spike in oil prices and slowing private investments have been weighing on India’s economic growth, which is now seen at 6.6% in the fiscal year to March 2027, a full percentage-point drop from the 7.7% GDP growth in the prior fiscal year, a Reuters poll of economists showed...</strong
The 615,000 bpd refinery faces delays in restarting crude units, with full operations targeted by August 10. Kuwait Petroleum has partially shut down its 615,000 barrel-per-day Al Zour refinery following a power cut on July 18. The disruption affected multiple units, inclu
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