ADNOC accelerates pipeline project to boost export capacity to 4 million bpd amid Strait of Hormuz disruptions. The UAE is accelerating construction of a new oil pipeline to bypass the Strait of Hormuz, targeting completion by 2027. The move follows a directive from Abu Dh
State refiners increase fuel costs over 3% amid crude oil supply constraints and mounting losses. India’s state-owned refiners increased retail gasoline and diesel prices by $0.031 per liter, marking the first hike in four years. The move follows a surge in global crude oi
Oil prices rise for a second day as buyers maintain control above key moving averages, signaling sustained bullish sentiment. West Texas Intermediate crude trades around $98.20 in Asian hours, extending gains for a second consecutive session. The asset remains within an as
Oil prices retreat slightly as 30 vessels pass through the Strait of Hormuz, but supply risks persist due to stalled US-Iran talks and reduced flows. West Texas Intermediate crude oil trades around $97.60 per barrel, trimming earlier gains as geopolitical tensions ease mar
Strategists see potential for significant oil price spikes if the Strait of Hormuz remains shut through June, straining global supply buffers. Morgan Stanley strategists forecast Brent crude could surge to $150 by summer if the Strait of Hormuz stays closed, tightening glo
India’s crude imports drop 40% after Hormuz closure, pressuring inflation, FX reserves, and GDP growth amid prolonged conflict. India’s oil crisis is escalating as the Strait of Hormuz remains shut for over two months, cutting off 40% of its crude imports. The disruption i
The Bureau of Land Management will auction 29,087 acres in Montana and North Dakota next month as part of a federal leasing expansion. The Bureau of Land Management will auction 29,087 acres of federal land for oil and gas leasing on July 14, covering 66 parcels in Montana
The firm expects AI spending and consumer demand to support growth, but an energy shock could push oil to $150 and trigger recession. Morgan Stanley projects global GDP growth of 3.2% in 2026, slightly below the 3.5% expected in 2025, as AI investment and US consumer spend
Ottawa and Alberta agree to push forward a pipeline project aimed at transporting 1 million barrels per day of Alberta crude to global markets. Canada’s federal government and Alberta will meet Friday to advance a new pipeline capable of moving 1 million barrels per day of
Ottawa considers keeping the 590,000-barrel-per-day pipeline state-owned as Canadian crude gains traction following Middle East supply disruptions. The Canadian government is reconsidering plans to privatize the Trans Mountain oil pipeline, opting instead to retain state o
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