(World Oil) – U.S. shale executives expect to drill significantly fewer wells this year than planned at the start of 2025, as lower oil prices and uncertainty around President Donald Trump’s tariffs hurt profits, according to a Federal Reserve Bank of Dallas survey. Almost half of oil executives said they expect to drill fewer wells in 2025 than planned at
(BOE Report)– The United States imposed sanctions on Thursday against a business network that smuggles Iranian oil disguised as Iraqi oil, as well as sanctions targeting a Hezbollah-controlled financial institution, the Treasury Department said. The network of companies run by Iraqi businessman Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil disguised as, or
(Oil Price)– The Trump Administration has rescinded licensing requirements for U.S. exporters of ethane to China, paving the way to restoring the trade that was upended by the tariff row with Beijing. The U.S. Department of Commerce’s Bureau of Industry and Security rescinded on July 2 the license requirements set forth in a previous regulation from June 3, ethane
(World Oil)– Germany has given the green light for drilling as much as 13 billion cubic meters (Bbcm) of natural gas at a protected marine site in the North Sea in a controversial step to bolster energy security. The cabinet approved a bilateral agreement with the Netherlands on hydrocarbon deposits off the island of Borkum, according to a statement from
(Investing) – Oil prices slipped lower Thursday, reversing sharp gains from the prior session after data showing an unexpected build in U.S. inventories raised some concerns over sluggish fuel demand. At 08:20 ET (12:20 GMT), Brent oil futures for September fell 0.4% to $68.86 a barrel, while West Texas Intermediate crude futures dropped 0.3% to $67.27 a barrel. Both contracts soared between 2.5% and 3%
Natural Gas Inventories as of June 27, 2025 The EIA has released its natural gas inventory report, showing a net increase of 55 Bcf as of June 27, 2025. Working gas in storage was 2,953 Bcf as of Friday, June 27, 2025, according to EIA estimates. This represents a net increase of 55 Bcf from the previous week. Stocks were
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