Diesel supply shortages worsen ahead of peak winter demand A global fuel crisis is looming as demand for diesel is set to increase in the coming months. Diesel shortages are already a reality in some parts of the world, with palm oil farmers in Southeast Asia seein
California Resources Corporation targets 153,000 barrels of oil equivalent per day in 2026, citing operational gains and efficiency improvements. California Resources Corporation (CRC) announced plans to reach 153,000 barrels of oil equivalent per day (BOE/d) by 2026, driv
WTI crude climbs over 6% amid ongoing uncertainty over the Strait of Hormuz reopening, fueling supply disruption concerns. Oil prices jumped more than 6% as uncertainty over the reopening of the Strait of Hormuz kept supply risks elevated. West Texas Intermediate (WTI) tra
WTI jumps over 6% on supply concerns West Texas Intermediate (WTI) prices rose more than 6% on Monday, driven by uncertainty over the reopening of the Strait of Hormuz. The price increase erased last week's losses, with WTI trading around $81.15 per barrel near a one-
Brent and WTI crude futures rise over 4% after US Strategic Petroleum Reserve falls to 298.7 million barrels, a four-decade low. Oil prices climbed more than 4% on Monday as the US Strategic Petroleum Reserve declined to 298.7 million barrels, its lowest level since 1983.
White House dismisses reports of potential crude and refined product export restrictions amid global supply concerns. The Trump administration denied considering a ban on US crude oil and refined petroleum product exports, following reports that such a move was under revie
Deal adds 9,500 boe/d production and aligns with JAPEX's 2035 target of 180,000 boe/d from overseas assets. Japan Petroleum Exploration Co. (JAPEX) will purchase U.S. tight oil and gas producer Fundare for $320 million, expanding its footprint in Colorado and Wyoming. The
Indian Oil, BPCL, and HPCL report nearly threefold reduction in LPG retail losses month-on-month, per government data. India’s three largest state-owned refiners—Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation—reduced their losses
Money managers reduced bullish bets on Brent and WTI crude by over 27,600 lots in the week to August 4 amid geopolitical uncertainty. Hedge funds and other money managers reduced their net long positions in crude oil futures for the second consecutive week, despite ongoing
WTI Oil jumps over 3% as Iran sets conditions for Strait of Hormuz reopening West Texas Intermediate (WTI) US Oil rises 3.20% on Monday and trades around $78.80 at the time of writing. Oil prices retain strong daily gains, supported by uncertainty surrounding the reopening
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