June 2, 2026

The United States can see every barrel; it does not control where they go

June 2, 2026

(Oil & Gas 360) By Greg Barnett, MBA – The United States possesses the most capable financial surveillance system and the most sophisticated space-based intelligence architecture in the world. It can track cargoes leaving Iranian terminals, identify tankers operating without signals, reconstruct shipments conducted in the dark, and map the commercial networks moving those barrels across oceans. There is no

HSBC flags a super-squeeze in the oil market

June 2, 2026

(Oil Price) – The Middle East crisis and the still closed Strait of Hormuz have created a “super-squeeze” in oil markets, which could lead to sharp price spikes, analysts at HSBC say. Prices have rallied in recent months not because of some “super-cycle” but because of the massive supply disruption and an actual squeeze in physical supply, the UK-based bank said

Fluor JV receives notice to begin work on LNG Canada Phase 2

June 2, 2026

(World Oil) – LNG Canada has taken another step toward a proposed expansion of its export facility in Kitimat, British Columbia, issuing a limited notice to proceed (LNTP) for Phase 2 of the project. Fluor Corp. announced that its JGC Fluor BC LNG II joint venture with JGC Corp. has received authorization to begin early planning and execution activities in support of a potential

IEA sees possibility of critically low stockpiles ahead of peak summer demand

June 2, 2026

(BOE Report) – Global oil inventories could hit critical levels ahead of the peak summer demand period if stock draws continue at their current pace, the head of the International Energy Agency’s oil industry and markets division said on Tuesday. “We’re seeing stock draws continuing into the summer, and with the possibility or the likelihood that we reach critical levels

Shell earns MiQ methane certification across U.S. Gulf portfolio

June 2, 2026

(World Oil) – Shell has become the first operator to receive MiQ methane emissions certification across its entire Gulf of America/Gulf of Mexico production portfolio, with all 10 offshore assets earning the organization’s top Grade A methane performance rating. The certification follows an independent third-party audit conducted under MiQ’s methane emissions standard. According to MiQ, the rating reflects low methane intensity as well

Oil prices steady as Iran reviews US deal to end war

June 2, 2026

(Investing) – NEW YORK – Oil prices were little changed in volatile trade on Tuesday as the market waited for news on the war in the Middle East as Iran reviewed a proposed agreement with the United States to halt the war. Brent futures were up 17 cents or 0.2% to $95.15 a barrel at 10:19 a.m. EDT (1419 GMT), while U.S. West

The United States can see every barrel; it does not control where they go

HSBC flags a super-squeeze in the oil market

Fluor JV receives notice to begin work on LNG Canada Phase 2

IEA sees possibility of critically low stockpiles ahead of peak summer demand

Shell earns MiQ methane certification across U.S. Gulf portfolio

Oil prices steady as Iran reviews US deal to end war

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