Oil prices hover near $96 after failing to break below key support at $95 amid lingering US-Iran tensions and bearish technical signals. West Texas Intermediate crude trades near $96.32, extending a three-day decline but remaining above the $95.00 psychological level. The
Oil prices retreat for a third day amid easing supply fears on potential US-Iran negotiations progress. West Texas Intermediate crude trades near $96.80 per barrel, extending losses for a third consecutive session. The decline follows growing speculation that the US and Ir
Market volatility persists as crude inventories shrink at nearly double the historical rate amid geopolitical tensions. Crude oil prices fell further as traders reacted to mixed signals from U.S.-Iran negotiations, amplifying market sensitivity to geopolitical developments
President Lula asserts Brazil’s subsoil resources must fuel domestic industry rather than foreign profits, reinforcing state-led extraction policies. Brazilian President Luiz Inácio Lula da Silva has framed oil and rare-earth mining as pillars of national sovereignty, argu
Talks could finalize within weeks, covering six fields and resolving a long-standing legal dispute with Venezuela’s government. Exxon Mobil is in advanced negotiations to resume oil production in Venezuela, nearly two decades after its exit. The potential agreement, expect
The UAE's state-owned oil firm expects the $400 billion project to restore pre-war export levels by mid-2027 despite ongoing conflict. Abu Dhabi National Oil Company (ADNOC) announced its Hormuz bypass pipeline is 50% complete, targeting full operation in 2027. The project
Northern Oil and Gas faces downgrade as 70% of oil production hedges pose near-term headwinds, analysts say. Northern Oil and Gas (NOG) saw its price target reduced to $35 from $37 by Raymond James, which downgraded the stock to Outperform from Strong Buy. The firm cited n
The firms aim to enhance recovery rates and infrastructure use on the Norwegian continental shelf without new major discoveries. Equinor and Aker BP announced a collaboration to accelerate oil developments and improve resource recovery on Norway’s continental shelf. The ag
WTI crude futures fell sharply after claims of a draft agreement between Washington and Tehran eased supply concerns. WTI crude oil futures settled at $96.35, down 1.94% or $1.91 for the session. The decline followed reports on Al-Arabiya TV that the US and Iran had reache
Falling inventories, reduced Middle Eastern exports, and rising demand could strain global oil supplies within months, the IEA says. Global oil markets may face severe tightening by July or August due to shrinking inventories, disrupted Middle Eastern exports, and surging
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