(Investing) – Bernstein told investors in a note on Thursday that it sees $75 per barrel as a reasonable long-term oil price assumption for equity valuation, citing a new survey of the 50 largest listed oil and gas companies globally that points to rising marginal costs and a declining reserves outlook. Analyst Neil Beveridge estimated that the global oil marginal
(BOE Report) – French oil major TotalEnergies made the decision to buy large amounts of Middle East crude in March after its traders noticed the U.S. Navy amassing ships near the Gulf in February, its CEO told French newspaper Le Figaro in an interview published on Thursday. “Our oil traders — and it’s their job — noticed that the U.S. Navy was
(Oil Price) – Global oil inventories are fast approaching a critical point, with Asia the first facing “minimum operational levels” and Europe close behind. This is the latest in a growing series of warnings from industry experts about the state of oil supply and the prospects of a severe shortage. It seems the world is running out of time to avert
(World Oil) – Former bp Plc Chairman Albert Manifold says he was fired without warning or explanation and will challenge the company’s version of events, deepening the turmoil around the UK oil major’s latest leadership change. bp ousted Manifold on Tuesday after eight months on the job, citing serious concerns related to “governance standards, oversight and conduct.” The company didn’t provide further details in
Weekly Crude Oil Storage as of May 22, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.3 million barrels from the previous week. At 441.7 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
(Investing) – Oil prices on Thursday sharply pared gains after a report that Washington and Tehran had reached a deal to extend an ongoing ceasefire and launch further negotiations over Iran’s nuclear program, pending President Donald Trump’s final approval. Crude prices had earlier ticked higher after the U.S. and Iran traded fresh strikes, denting hopes for a peace deal that would
Natural Gas Inventories as of May 22, 2026 The EIA has released its natural gas inventory report, showing a net increase of 92 Bcf as of May 22, 2026. Working gas in storage was 2,483 Bcf as of Friday, May 22, 2026, according to EIA estimates. This represents a net increase of 92 Bcf from the previous week. Stocks were
