(BOE Report) – A recent escalation of hostilities between the U.S. and Iran could upend the International Energy Agency’s forecast of a significant oil market surplus next year, it said on Friday, as global supply jumped in June when the Strait of Hormuz reopened but still lagged pre-war levels. Global oil markets received some respite last month as a peace
(Investing) – DUBAI – Daily tanker traffic in the Strait of Hormuz appeared to have slowed on Friday, after the U.S. and Iran exchanged hostilities this week and renewed their arguments over who was in control of passage through the critical waterway. The attacks renewed concerns about the recovery of global oil supplies and shipping, and highlighted the fragility of an
(By Oil & Gas 360) – The global oil market is undergoing one of its most significant structural shifts in decades, and much of that transformation is taking place across the Americas. What was once viewed primarily as a collection of regional production basins is evolving into an integrated export platform that is increasingly supplying Europe and Asia while reshaping
(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 DENVER – July 8,
(Oil & Gas 360) By Greg Barnett, MBA – Less than eighty years after the Declaration of Independence announced the birth of a new nation, another declaration was being written in the hills of western Pennsylvania. It carried no signatures, sparked no rebellion, and invited no accusations of treason. Yet its consequences would prove transformative. In August 1859, Edwin
(Oil Price) – BP has started to simplify its portfolio and cut costs, and will make fewer but better choices in which projects to invest, chief executive Meg O’Neill said on Thursday. “We are taking concrete action to grow long-term value for shareholders: simplifying our portfolio, reducing costs, maintaining tight discipline on capex and strengthening the balance sheet,” O’Neill, the first
(BOE Report) – Governments are set to buy millions of barrels of oil through 2028 to rebuild emergency reserves depleted by drawdowns to plug a gap in global supply caused by the U.S.-Israeli war on Iran, analysts and officials said. This could boost demand for crude that would absorb some of the expected global supply surplus following OPEC+’s decision to
(World Oil) – The United States and Iran exchanged a second round of military strikes Thursday, escalating tensions in the Persian Gulf and further disrupting commercial shipping through the Strait of Hormuz. U.S. Central Command (CENTCOM) said it struck about 90 Iranian targets overnight—following roughly 80 targets hit the previous day—to further degrade Tehran’s ability to threaten commercial vessels transiting
(Investing) – Oil prices eased on Thursday after earlier gains as markets assessed the escalating conflict between the U.S. and Iran and its implications for efforts to end the war and fully reopen the Strait of Hormuz. Brent crude futures were down 11 cents, or 0.1%, to $77.91 a barrel at 1322 GMT. U.S. West Texas Intermediate crude futures dropped 38 cents, or 0.5%,
Natural Gas Inventories as of July 3, 2026 The EIA has released its natural gas inventory report, showing a net increase of 61 Bcf as of July 3, 2026. Working gas in storage was 2,983 Bcf as of Friday, July 3, 2026, according to EIA estimates. This represents a net increase of 61 Bcf from the previous week. Stocks were
(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 DENVER – July 8, 2026 –
(By Oil & Gas 360) – Markets have become remarkably efficient at pricing today’s headlines, but what they struggle to price is tomorrow’s uncertainty. Following months of conflict, supply disruptions, and volatile oil prices, the prospect of an uneasy ceasefire between the United States and Iran has offered financial markets a measure of relief. Crude prices have eased from wartime highs,
