(By Oil & Gas 360) – Energy markets continued shifting from crisis pricing toward normalization this week, but the transition remains uneven. Oil prices weakened as Hormuz flows improved and Saudi Arabia prepared to cut prices, yet shipping uncertainty, strategic reserve building, and new attacks kept risk alive. The market is no longer pricing full disruption, but it is not
(Oil & Gas 360) By Greg Barnett, MBA – A June 2026 Perspective on the Monthly Energy Review, the Short-Term Energy Outlook, and the Global Forces Behind Your Gasoline Bill. The June 2026 edition of the Energy Information Administration’s Monthly Energy Review (MER) arrives with remarkably little drama. U.S. energy production remains strong. Consumption remains relatively stable. Exports continue to
(Oil Price) – Saudi Arabia is expected to slash the official selling prices of its crude loading for Asia in August, as Middle East’s crude benchmarks crashed amid the tentative reopening of the Strait of Hormuz and the oil supply increase from the region. Saudi oil giant Aramco, the world’s single-biggest crude oil exporter, is expected to slash the OSP of
(BOE Report) – Fewer vessels transited the Strait of Hormuz on Friday than earlier this week, hours after a Taiwanese-operated ship was fired on by Iran, ship tracking data showed. The U.N. shipping agency temporarily paused its voluntary scheme to evacuate hundreds of stranded ships and thousands of seafarers from the Gulf after the ship was damaged in the attack
This week’s Baker Hughes Rig Count shows that the U.S. increased by 10 last week, resulting in a total count of 573 rigs. Canada increased by 11 over last week, resulting in a total Canadian count of 197 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash, and the Permian experienced an increase this week.
(World Oil) – Kazakhstan’s giant Karachaganak oil and gas field cut crude production by more than a quarter after a drone attack forced the shutdown of a processing plant in Russia that handles its gas. Karachaganak, one of Kazakhstan’s three largest hydrocarbon projects alongside Tengiz and Kashagan, accounts for about 10% of the country’s oil production. Because the field produces crude
(Investing) – U.S. solar developers have secured federal subsidies for a wave of projects large enough to nearly double current capacity, rushing to beat a July 4 deadline that could send renewable power costs sharply higher. The projections reflect the loss of valuable renewable energy tax credits worth at least 30% of project costs, a change that threatens to raise U.S.
