(Oil Price)– Father and son, Albert and Gordon Huddleston, part of the Texas oil dynasty of H.L. Hunt, are expected to become even richer if a rumored $8-billion deal with Mitsubishi Corp goes through. Albert and Gordon Huddleston are descendants of Haroldson Lafayette Hunt, who founded and grew the family oil business in the 1930s and 1940s with hundreds of
(Investing)– Fears over possible supply constraints from the Israel-Iran conflict have driven oil prices higher in recent days, although past disruptions do not suggest that crude will stay elevated for a long time, according to analysts at Citigroup (NYSE:C). Brent crude futures slumped on Friday following the White House’s comments, although the contract is on course to rise for a third
(BOE Report)– Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel/Iran tensions flare-up. Although relatively contained, the rise has not gone unnoticed just three years after Russia’s invasion of Ukraine triggered a surge in energy prices that ramped up global inflation and sparked aggressive interest rate hikes.
(Oil Price) – Canada’s Strathcona Resources supports MEG Energy in its process to explore potential mergers after MEG recommended that shareholders reject a $4.4 billion (C$6 billion) takeover offer from Strathcona. Last month, Strathcona, MEG’s second-largest shareholder with about 9%, made an offer to acquire MEG Energy for the equivalent of some $4.4 billion in cash and stock. A deal would have turned
(World Oil) – A week since Israel and Iran started to exchange missile barrages, oil tanker transits through the critical Strait of Hormuz have remained largely steady. A seven-day rolling average for oil tankers above 10,000 deadweight tons that sailed through the Strait — the passageway for the Persian Gulf’s energy supplies to the world — was approximately 42-to-45, according
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 1 over last week, resulting in a total count of 554 rigs. Canada had an increase of 1 over last week, resulting in a total Canadian count of 139 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford, the DJ-Niobrara, the Eagle Ford,
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation. But the explorers have also hit dry wells,
(Investing)– Brent crude oil prices fell sharply Friday, giving back some recent gains after the White House signaled that U.S. President Donald Trump will delay a decision on entering the Iran-Israel war for two weeks. At 07:50 ET (11:50 GMT), Brent oil futures fell 3.7% to $75.96 a barrel, while West Texas Intermediate crude futures, which did not settle on Thursday due to a U.S. holiday,
