Oil prices rise as Iranian demands over the Strait of Hormuz delay a potential US-Iran deal, lifting ICE Brent above $82 per barrel. ICE Brent crude climbed above $82 per barrel, settling 3.8% higher in yesterday’s session, as US-Iran negotiations face renewed obstacles. I
Attacks on Saudi infrastructure and potential Iranian restrictions in the Strait of Hormuz heighten risks to global oil supply. Oil prices rose after Houthi forces struck Saudi Arabia’s Najran province, killing 11 civilians, amid escalating Middle East tensions. The attack
Oil prices rise 1.5% today amid Strait of Hormuz tensions but remain on track for a near 10% weekly decline. WTI crude oil prices climbed 1.5% today, recovering slightly from recent losses. However, the benchmark is still set for a nearly 10% weekly decline, marking back-t
Geopolitical tensions in the Middle East drive supply concerns, keeping West Texas Intermediate oil prices steady at $77.50 per barrel. West Texas Intermediate crude oil holds near $77.50 per barrel in Asian trading, reflecting investor caution over escalating Middle East
Iran’s proposed restrictions on shipping in the Strait of Hormuz and retaliatory threats lift oil prices as supply disruptions loom. West Texas Intermediate crude trades at $77.50 per barrel, supported by escalating tensions in the Strait of Hormuz. Iran’s reported strikes
Riley Exploration Permian forecasts 30% oil growth Riley Exploration Permian expects a 30% increase in oil growth in 2026. The company has lifted its capex midpoint to $236M. This move is part of the company's strategy to accelerate development activity and produ
The acquisition expands Sunoco's fuel distribution network by 2.5 billion gallons annually and adds 800 retail stations. Sunoco will acquire Offen Petroleum for approximately $600 million in an all-cash transaction. The deal includes Offen’s distribution of 2.5 billion gal
Record diesel exports from the US reflect deepening global supply constraints driven by disruptions in Russia and Gulf maritime routes. US distillate exports climbed to a record last week as global supply shortages intensified. Disruptions in the Gulf region and attacks on
WTI and Brent surge over 2.7% as Iran threatens restrictions on key oil shipping lanes, lifting geopolitical risk premiums. Crude oil prices rose sharply Thursday amid escalating tensions in the Middle East. WTI settled at $77.29, up $2.07, while Brent climbed $3.04 to $82
July crude production rose 100,000 bpd from June, exceeding 9 million bpd amid stronger exports and refinery activity. Russia’s oil production climbed above 9 million barrels per day in July, up roughly 100,000 bpd from June. The increase was driven by higher export demand
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