(By Oil & Gas 360) – Oil fields can be bombed. Refineries can be repaired. Pipelines can be rerouted. The Strait of Hormuz is different. For decades, analysts have viewed Hormuz primarily as the world’s most important oil chokepoint, carrying roughly one-fifth of global oil trade and a significant share of liquefied natural gas exports. But recent events suggest Tehran
(Investing) – NEW YORK – Oil prices fell more than 1% on Wednesday to their lowest levels since March as optimism over U.S.-Iran talks allayed supply concerns after U.S. President Donald Trump said talks in Qatar had gone well. Brent futures settled down $1.38, or 1.89%, to $71.57 a barrel, while U.S. West Texas Intermediate crude lost 92 cents, or 1.32%, at $68.58 a
(Oil Price) – Eni is forming an energy commodity joint venture with global trader Mercuria as the Italian energy major eyes higher profits to rival the most active traders among the European energy giants. Eni on Wednesday said it had signed an agreement with Geneva-based Mercuria, one of the world’s largest independent trading groups, to create a joint venture to trade energy commodities
(World Oil) – Flowserve has completed its $490 million all-cash acquisition of Trillium Flow Technologies’ Valves Division (TVD), expanding its portfolio of engineered flow-control products and services for global energy and industrial markets. The acquisition adds Trillium’s portfolio of mission-critical valves, actuators and flow-control equipment, strengthening Flowserve’s capabilities across conventional and emerging energy applications, as well as industrial infrastructure. The transaction excludes
(BOE Report) – Activist investors pushed global companies more aggressively in the second quarter to make changes and lifted the overall pace of campaigns in the first half of 2026, Barclays data showed, as their biggest demand was for businesses to sell themselves in a rebounding deal market. Compared with the first half of 2025, activists such as Elliott Investment
(Investing) – OPEC+ oil-producing countries are reportedly likely agree to increase their output targets from August when they meet on Sunday. The move would add supply at a time when prices are falling as the Strait of Hormuz gradually reopens. The target will increase by about 188,000 barrels per day for August, matching the increases for June and July, a Reuters
Weekly Crude Oil Storage as of June 26, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.8 million barrels from the previous week. At 408.4 million barrels, U.S. crude oil inventories are 7% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
