US crude oil inventories fell by 564,000 barrels The decline in US crude oil inventories is attributed to a drop of 564,000 barrels in the week ending July 10. This decrease follows a prior fall of 399,000 barrels in the previous week. Over the last twelve
Crude recovers from session lows as traders unwind geopolitical risk premium following U.S. policy shift on Strait of Hormuz fees. Crude oil settled at $79.34, gaining $1.20 after President Trump abandoned plans for a 20% cargo fee on the Strait of Hormuz. The reversal eas
Africa's biggest refinery has started pricing fuel in U.S. dollars because Nigeria can't supply enough Nigerian crude to keep it running. Dangote Petroleum Refinery, which can process 700,000 barrels of crude per day, said it is switching domestic gasoline, diesel, and jet
Natural gas futures ETF UNG underperforms as contango roll costs and weak spot prices erode returns despite rising LNG exports. The United States Natural Gas Fund (NYSEARCA:UNG) has declined 77.14% over five years, closing at $11.60 on July 7, 2026, despite a surge in LNG
Renewed U.S.-Iran hostilities have pushed Brent above $85, ending the oversupply narrative and reviving fears of a global oil shortage. Much Anticipated 2026 LNG Oversupply Wave May Not Materialize - According to industry analysts, the much-anticipated LNG oversupply wave
Crude falls after the U.S. abandons a proposed 20% reimbursement fee on ships exiting the Strait of Hormuz, reducing geopolitical risk premium. Crude oil prices declined after President Trump withdrew a proposal for a 20% reimbursement fee on cargo ships transiting the Str
Legal claims and investor lawsuits are among the issues facing certain oil industry companies that have filed for bankruptcy protection. Petroleum products dealer Fuel Group Trading LLC filed for Chapter 11 bankruptcy protection to reorganize its business, facing legal cla
Quick Read - BWET surged 1,003% in 2026 by tracking tanker freight futures, capturing the Hormuz supply shock that USO and XLE only partially reflected. - USO climbed 70% on WTI's spike to $115, but crude has since dropped 26% while BWET's freight-rate gains remain intact. -...</
Greenfire Resources has agreed to acquire Canada-based Connacher Oil and Gas in an all-cash transaction valued at approximately C$1.27bn ($900.4m). Connacher operates as a privately owned thermal oil sands producer focused on the production and sale of bitumen It ha
TD Securities warns extreme short positioning in oil markets risks a rapid cover rally amid tightening supplies and misplaced demand fears. Money managers hold record short positions in Brent crude, leaving them vulnerable to a squeeze as supply deficits deepen. TD Securit
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