(Oil Price) – Brent Crude prices have the potential to hit $70 per barrel over the next three months amid heightened geopolitical risks, according to analysts at Citi. The investment bank raised its 0-3 month outlook on Brent Crude prices to $70 per barrel from $65 a barrel previously, due to upside pressure from geopolitical risks. Early on Wednesday, Brent Crude traded 1%
(Investing) – LONDON – Dozens of commercial ships have dropped anchor at a distance outside Iran’s port limits in recent days, according to data and shipping sources, as tensions with the United States grow. Such movements were precautionary given the tensions amid ongoing protests in Iran, the shipping sources said. Port limits are significant because they run a higher risk of
(World Oil) – Energy Workforce & Technology Council said U.S. oilfield services employment edged lower in December 2025, closing out a year marked by workforce adjustment and market uncertainty. Energy services employment totaled 629,372 jobs in December, down 184 positions from November, according to preliminary data from the Bureau of Labor Statistics and EWTC analysis. The December figures cap a year in which
(Oil Price) – China is expected to see a plunge in imports of oil from Venezuela in February as the now month-long U.S. blockade has prevented many China-bound cargoes from leaving Venezuelan waters. The deliveries of crude and fuel oil from Venezuela to China in February are estimated at just 166,000 barrels per day, as just 5 million barrels of Venezuelan
(World Oil) – 1776 Energy, a portfolio company of Quantum Capital Group, has closed the sale of its South Texas oil and gas assets to Silver Hill Energy Partners, continuing consolidation activity in the mature Eagle Ford shale. The transaction includes approximately 17,500 net acres and an estimated 550 gross drilling locations primarily across Karnes and Gonzales counties, Texas. The assets are prospective across
(Investing) – The decline in U.S. natural gas prices appears excessive given the market’s underlying fundamentals, according to Morgan Stanley. Analyst Devin McDermott said prices have retreated around 35% from December highs, but “prices have pulled back too far,” even after accounting for milder weather and a brief supply pickup. Morgan Stanley now forecasts Henry Hub at $4.25 in 2026, “~22%
Weekly Crude Oil Storage as of January 9, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.4 million barrels from the previous week. At 422.4 million barrels, U.S. crude oil inventories are 3% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
