(Investing) – LONDON – Oil prices fell nearly 3% on Friday to their lowest in nearly two months after U.S. President Donald Trump cancelled new strikes on Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week. Brent futures were down $2.27, or 2.5%, at $88.11 a barrel by 1322 GMT, while U.S. West Texas Intermediate (WTI)
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(Oil Price) – Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing through the waterway. This triggered an oil shock with prices surging to levels not seen since Russia’s invasion of Ukraine. Although this is straining economies worldwide, it
(BOE Report) – The Iran war has become an additional driver of demand for gas turbines, Siemens Energy executives said on Thursday, at a time when manufacturers are already flooded with orders due to the massive data centre expansion in the United States. Along with rivals GE Vernova and Mitsubishi Heavy Industries, Siemens Energy has seen demand for gas turbines
(World Oil) – President Donald Trump threatened additional military action against Iran on Thursday and suggested the U.S. could eventually target key Iranian oil export infrastructure, including Kharg Island, the country’s primary crude export terminal. Trump said the United States would strike Iran again following the collapse of a two-month ceasefire over the weekend. In a post on social media,
(Reuters) – OPEC on Thursday lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, the producer group said in its monthly report, marking the second straight downward revision. The group continues to see a smaller impact on consumption since the Iran war started than other forecasters such as the U.S. Energy Information Administration and
Natural Gas Inventories as of June 5, 2026 The EIA has released its natural gas inventory report, showing a net increase of 108 Bcf as of June 5, 2026. Working gas in storage was 2,688 Bcf as of Friday, June 5, 2026, according to EIA estimates. This represents a net increase of 108 Bcf from the previous week. Stocks were
(Oil & Gas 360) – FOR IMMEDIATE RELEASE SAGE ENERGY PARTNERS WHOLLY OWNED SUBSIDIARY SAGE WATER RESOURCES ANNOUNCES SUCCESSFUL RECOVERY AND ENHANCED CYBERSECURITY HARDENING OF UINTA BASIN INFRASTRUCTURE FOLLOWING TARGETED GEOPOLITICAL CYBER INCIDENT DUCHESNE, UTAH — June 10, 2026 — Sage Energy Partners / Sage Water Resources (SWR), a leading Native American-owned and operated water infrastructure and management provider in the Uinta
(Oil & Gas 360) By Greg Barnett, MBA – In a prior analysis, the argument was made that the United States can see nearly every sanctioned barrel moving through the global system but does not fully control where those barrels ultimately go. That distinction—between visibility and control—explains why flows persist despite policy intervention. A second constraint now sits beneath that system.
(World Oil) – APA Corporation has agreed to acquire Savant Alaska, LLC in a deal that will give the company control of key production and transportation infrastructure supporting its growing position on Alaska’s eastern North Slope. The transaction includes approximately $70 million in upfront consideration, plus contingent payments tied to future development activities. APA said the acquisition is expected to improve development
(Oil Price) – Data centers are placing unprecedented strain on electric grids across the country and across the world as the rapid integration of artificial intelligence into virtually every market sector unleashes an energy monster that we are woefully unprepared to feed. Meeting projected demand growth in coming months and years will require creative solutions and cutting-edge energy innovation, but it will
(World Oil) – Zephyr Energy has advanced its Paradox basin development in Utah after completing a key pipeline integrity assessment that clears the way for the regulatory approvals needed to begin exporting natural gas from the project. The company reported the successful completion of an in-line inspection (ILI) of the 20.9-mi pipeline connecting Zephyr’s Powerline Road Gas Plant to the Northwest Pipeline system operated
