Commodities Archives - Page 4 of 316 -

Transocean adds $445 million backlog with Petrobras drillship extension

April 14, 2026

(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s

Nomura: Full U.S. blockade could cut off another 2.3 million bpd oil supply

April 14, 2026

(Oil Price) – Oil supply from the Middle East could drop by another 2.3 million barrels per day (bpd) if the U.S. were to completely block the Strait of Hormuz, according to bank Nomura. “We estimate around 2.3mbpd loss of incremental oil supplies versus March 2026, and nearly 9.3mbpd loss versus March 2025 in the event the US were to

Iran showing signs of capitulating over Strait of Hormuz

April 14, 2026

(Oil Price) – Iran may halt its own oil shipments through the Strait of Hormuz for several days. Tehran is weighing a short-term pause to avoid testing the U.S. naval blockade just days before another round of ceasefire talks. The objective is to get through the next week without a maritime incident that derails negotiations before they start. Iran has

Saudi oil exports to China set to halve as war upends supply and prices

April 13, 2026

(Oil Price) – Saudi Arabia is expected to ship in May halve the crude volumes to China it supplies in April as the Kingdom hiked its official selling prices while part of the supply is trapped in the Middle East due to the war. Saudi Arabia, the single biggest crude oil exporter in the world, is expected to send about

Eni CEO calls for suspending EU ban on Russian LNG by Tsvetana Parask

April 13, 2026

(Oil Price) – The European Union needs to suspend its planned ban on imports of Russian LNG, currently slated to take place on January 1, 2027, as the Middle East war has roiled energy markets, according to Claudio Descalzi, the chief executive of Italy’s oil and gas major Eni. “I think that it is necessary to suspend the ban that

NATO allies refuse to join Trump’s Strait of Hormuz blockade

April 13, 2026

(BOE Report) – The United States’ NATO allies said on Monday they would not get involved in President Donald Trump’s plan to blockade the Strait of Hormuz, further ratcheting up tensions within the increasingly fragile alliance. Trump said the U.S. military would work with other countries to block all maritime traffic in the waterway, after weekend talks failed to reach

bp to acquire 60% stake in Eco Atlantic’s Namibia offshore exploration blocks

April 13, 2026

(World Oil)– Eco (Atlantic) Oil & Gas has signed an agreement to farm down a 60% participating interest in its offshore Namibia portfolio to bp, transferring operatorship across three exploration licenses in the Walvis basin. The transaction covers Petroleum Exploration Licenses (PEL) 97, 99 and 100. Upon completion, Eco will retain a 25% interest, while bp will assume operatorship and lead exploration

OPEC lowers second-quarter global oil demand forecast on Iran war

April 13, 2026

(Investing) – LONDON – OPEC on Monday lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, the producer group’s monthly oil report showed in its first public assessment of the Iran war’s impact on the market. OPEC sees a smaller hit to oil demand from the war this year than some other forecasters, such

360 Energy Pulse: What mattered this week in energy

April 10, 2026

(By Oil & Gas 360) – The ceasefire didn’t calm energy markets; it complicated them. Prices remain elevated, supply remains uncertain, and the ripple effects of recent disruptions are still moving through the system. This week made one thing clear: even when conflict pauses, its impact doesn’t. THIS WEEK’S 5 HEADLINES THAT MATTERED 1. Ceasefire fails to stabilize oil markets Oil

JP Morgan warns oil could hit $120 if Hormuz stalemate drags into July

April 10, 2026

(Oil Price) – Oil prices could spike and hit again their peak Iran-war levels at nearly $120 per barrel if a full recovery of vessel traffic through the Strait of Hormuz takes until July, according to JP Morgan. Despite the ceasefire announced earlier this week, traffic through the critical oil chokepoint remains severely restricted and under supervision and approval by Iran’s Islamic

Déjà Vu in energy markets, and what this shock is teaching us, again

April 10, 2026

(By Oil & Gas 360) – The latest disruption in global energy markets feels new in scale, but not in pattern. As oil flows tighten, shipping through the Strait of Hormuz remains constrained, and geopolitical tensions ripple across supply chains, the market is rediscovering lessons it arguably should have retained from 2022, and three lessons for the latest energy shock. This

Morgan Staney mixed on US natural gas outlook- oil and gas 360

Morgan Stanley mixed on US natural gas outlook

April 10, 2026

(Investing) – Wall Street analysts are mixed on U.S. natural gas outlook as near-term price weakness is expected to be offset by strong long-term demand growth driven by liquefied natural gas (LNG) exports and rising power needs globally. Natural gas prices have declined sharply in recent months, with benchmark Henry Hub prices down about 28% year-to-date, as a mild end to

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