July 2, 2026 - Oil & Gas 360

Register to attend EnerCom Denver August 17–19, 2026, in Denver, Colorado

July 2, 2026

(Oil & Gas 360) – Investors are encouraged to register for EnerCom Denver – The Energy Investment Conference, featuring a broad group of public and private energy companies Limited presentation openings are available for E&P, Midstream, OFS, Energy Transition, and Emerging Technology companies Sponsorship opportunities are available for companies seeking to increase their market presence EnerCom, Inc. (“EnerCom”) is pleased

Trump Administration advances new California oil lease plans

July 2, 2026

(Oil Price) – The Bureau of Land Management is giving California another chance to weigh in on oil and gas leasing—whether the state wants it or not. On Thursday, the BLM opened a 30-day public scoping period for 50 federal oil and gas parcels covering roughly 36,000 acres across Kern, Kings, Fresno, and San Luis Obispo counties. The parcels could be

UBS cuts 2026-27 oil price forecasts as Hormuz flows recover

July 2, 2026

(Investing) – UBS has lowered its oil price forecasts for 2026 and 2027 amid a faster-than-expected recovery in flows through the Strait of Hormuz following an interim U.S.-Iran memorandum of understanding (MoU) signed on June 17. The bank now expects Brent to average $84 a barrel in 2026, down $9 from its previous estimate, and $75 a barrel in 2027, a $10 cut. WTI forecasts

Kuwait wants consortiums to bid for $7 billion oil pipeline deal

July 2, 2026

(Oil Price) – Kuwait’s state oil firm, Kuwait Petroleum Corporation (KPC), has asked some of the asset management funds bidding for a stake in its oil pipeline network to tap other investors in their bids for the planned sale estimated at $7 billion, anonymous sources familiar with the process told Reuters on Thursday. Early this year, it emerged that KPC is considering following

India to expand strategic oil reserves after Iran war price spike

July 2, 2026

(World Oil) – India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I’m not worried about it, but I have to prepare for it,” Oil Minister Hardeep Singh Puri told reporters in New Delhi on Thursday, replying to a question on whether

Oil prices edge down amid hopes for U.S.-Iran talks progress

July 2, 2026

(Investing) – Oil prices fell on Thursday as traders continued to assess mediated U.S.-Iran negotiations, with hopes for improving supply expectations keeping pressure on the market despite lingering geopolitical uncertainty. At 08:01 ET (12:01 GMT), Brent crude futures, the global oil benchmark, declined 1.7% to $70.38 a barrel and U.S. West Texas Intermediate crude futures dipped 1.9% to $67.25 a barrel. Markets were

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 87 Bcf

July 2, 2026

Natural Gas Inventories as of June 26, 2026 The EIA has released its natural gas inventory report, showing a net increase of 87 Bcf as of June 26, 2026. Working gas in storage was 2,922 Bcf as of Friday, June 26, 2026, according to EIA estimates. This represents a net increase of 87 Bcf from the previous week. Stocks were

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