(BOE Report) – The Iran-backed Houthis are seeking to control the whole Yemeni Red Sea coast, which would further consolidate their leverage over the Bab el-Mandeb Strait — one of the busiest and most contested global maritime chokepoints. The militant group has already declared a naval blockade against Saudi Arabia, the world’s largest oil exporter, and Houthi dominance over the
Weekly Crude Oil Storage as of September 4, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 424.1 million barrels, U.S. crude oil inventories match the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories
(World Oil) – U.S. crude oil production is on track to reach a record average of 13.8 MMbpd in 2026, driven by continued Permian basin growth and rising output from new projects in the federal Gulf of America, according to the U.S. Energy Information Administration‘s latest Short-Term Energy Outlook (STEO). The forecast would surpass the previous annual record of 13.7 MMbpd set in 2025.
(Investing) – NEW YORK – Oil prices jumped 6% on Thursday, with both major benchmarks trading at over $100 a barrel as the biggest spike in attacks on shipping since the Iran war began fed worries among traders about further disruptions to already tight supplies. Brent crude futures hit their highest since mid-May, rising $5.87, or 5.8%, to $107.08 a barrel by
Natural Gas Inventories as of September 4, 2026 The EIA has released its natural gas inventory report, showing a net increase of 40 Bcf as of September 4, 2026. Working gas in storage was 3,254 Bcf as of Friday, September 4, 2026, according to EIA estimates. This represents a net increase of 40 Bcf from the previous week. Stocks were
