Parex Resources has completed its acquisition of all Colombian exploration and production (E&P) assets held by Frontera Energy in a deal valued at $500m (C$691.6m). The transaction sees Parex gaining full ownership of Frontera Petroleum International Holdings (Frontera E&P
West Texas Intermediate (WTI) edges lower on Tuesday, trading around $90.15 at the time of writing, down 0.89% on the day. Traders remain cautious as negotiations aimed at reinforcing the ceasefire between the United States (US) and Iran continue to fluctuate, creating unc
Crude spikes after Iran threatens Hormuz closure but pares gains following Trump's reassurances, while short seller Andrew Left faces legal fallout. Oil prices surged overnight after Iran threatened to close the Strait of Hormuz and halted talks, driving market volatility.
Venezuela’s oil exports inched up from April to hit a fresh seven-year high in May as shipments to the United States and India continued to rise. Venezuela exported an estimated 1.25 million barrels per day (bpd) of oil in May, up by 0.7% compared to April’s 1.23 million b
Rabobank’s Senior Macro Strategist Bas van Geffen highlights that Brent futures near the mid-$90s per barrel, down from a recent peak of $108, still reflect only a relatively optimistic scenario for the Iran conflict. A prolonged disruption in the Strait of Hormuz could ke
INEOS Energy is expanding its global LNG business into Asia after signing a long-term supply agreement with Japan's Marubeni Corporation for deliveries beginning in 2029. Under the deal, INEOS will supply LNG on a Delivered Ex-Ship (DES) basis, meaning the company will be
Rebound in liquefied natural gas shipments signals preparation for peak cooling season amid prior supply constraints and price pressures. China imported 4.9 million tons of liquefied natural gas in May, marking a year-over-year increase as demand ramps up ahead of the summ
A potential US-Iran agreement could reopen the Strait of Hormuz, easing oil prices to $86 per barrel in late 2026. Brent crude could retreat to $86 per barrel in Q4 2026 if a US-Iran deal reopens the Strait of Hormuz, according to a baseline scenario. The outlook assumes s
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.35 during the early European trading hours on Tuesday. WTI price declines as traders have treated any progress toward ending the Iran conflict with caution, given the fragility of a US–Iran ce
Tighter fuel supply boosts refining margins Goldman Sachs forecasts significantly higher refining margins throughout 2026 due to tighter petroleum product supply. The war in the Middle East has pushed refiners’ margins two to three times higher than the average for th
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