Brent crude rises to USD 107 per barrel as geopolitical risks and China’s declining imports tighten supply dynamics. Brent crude prices climbed USD 7 to USD 107 per barrel amid escalating Iran-US tensions and uncertainty over a potential gasoline tax suspension in the US.
EIA forecasts prolonged Strait of Hormuz closure could push oil prices $20 higher amid OPEC output hitting two-decade lows. West Texas Intermediate crude jumped over 3% to $98.38 per barrel Tuesday as escalating US-Iran tensions threaten supply routes. The rally follows wa
EIA to track global strategic petroleum reserves and energy flows The U.S. Energy Information Administration will start publishing a new quarterly report on global strategic petroleum reserves and energy flows through major shipping choke points. The report will in
Italian energy group seeks external capital for floating LNG assets while retaining operational control, targeting at least €1 billion. Eni has engaged Morgan Stanley to structure a fund deal for its floating liquefied natural gas (FLNG) assets, aiming to raise at least €1
Petrobras reports a 0.8% share decline after Q1 profit drops, missing benefits from surging crude and a weaker Brazilian real. Petrobras (PBR) posted lower first-quarter profits, failing to capitalize on rising oil prices and a depreciated U.S. dollar against the Brazilian
U.S. Energy Information Administration forecasts extended disruption in key oil transit route, lowering 2026 price outlook for WTI and Brent. The U.S. Energy Information Administration expects the Strait of Hormuz to remain closed through late May, disrupting 10.5 million
Rising LNG prices and Middle East supply disruptions push top Asian importers to increase coal-fired power generation and imports. Japan and South Korea, the world’s second- and third-largest LNG importers, have ramped up coal power generation and imports due to surging LN
Governments and energy firms ramp up spending on oil and gas exploration to counter the worst supply shortage in history. A historic oil and gas supply crunch has pushed energy security to the top of global policy agendas, driving a sharp increase in exploration investment
Safety measures at Ras Laffan port disrupt 20% of global LNG flows amid heightened regional tensions and attacks on energy infrastructure. Qatar has instructed vessels near its Ras Laffan LNG port to turn off transponders as a safety precaution. The move affects the world’
Increased crude shipments aim to boost energy sector profits but gasoline prices remain elevated at $4.504 per gallon. Ships are arriving at Texas and Louisiana ports to load US crude, signaling a rise in oil exports. The development is expected to support domestic drillin