Crude Oil Archives - Page 16 of 923 -

Oil extends losses, WTI crude falls below $70 for first time since early March

June 24, 2026

(Investing) – Oil prices extended losses on Wednesday, retreating for a third straight session as signs of a gradual reopening of the Strait of Hormuz and improving U.S.-Iran relations eased fears of a prolonged disruption to Middle East energy supplies. At 09:43 ET (13:43 GMT), Brent crude futures expiring in September, the global oil benchmark, slipped 4% to $73.71 a barrel. Notably, U.S. West

From cycles to constraints

June 23, 2026

(By Oil & Gas 360) – For much of the modern energy era, executives, investors, and policymakers operated under a shared assumption that periods of disruption would eventually give way to a familiar pattern. Prices would rise, capital would flow into the sector, production would increase, and supply growth would ultimately restore balance. Markets might experience volatility along the way, but

Santos brings first Pikka wells online in Alaska

June 23, 2026

(World Oil) – Santos has commenced continuous production operations at the Pikka Phase 1 oil development on Alaska’s North Slope, marking a major milestone for one of the region’s largest new oil projects. The company said the first production wells are now online and delivering approximately 20,000 bopd of gross production. Santos expects to begin seawater injection for reservoir pressure support in

Half-open, half-closed Strait of Hormuz baffles oil markets

June 23, 2026

(Oil Price) – Oil prices have continued to whipsaw since the U.S. and Iran announced last week signed a deal to make a deal as traffic through the Strait of Hormuz is anything but straight and not expected to normalize within days. Contradictory messaging from Iran and the United States on the navigability of the chokepoint have intensified during the weekend

Phillips 66 CEO says Hormuz supply disruptions may linger amid shipping uncertainty

June 23, 2026

(BOE Report) – U.S. refiner Phillips 66 CEO Mark Lashier said on Tuesday it would take time for crude supplies to clear through the Strait of Hormuz, as uncertainty remains around a return to normal shipping activity. Passage through the Strait of Hormuz is continuing on a limited basis, easing immediate supply concerns and pushing crude prices lower. Meanwhile, energy

Oil drops $1 as investors focus on Hormuz flows after peace talks

June 23, 2026

(Investing) – NEW YORK – Oil prices fell more than a $1 on Tuesday as investors monitored crude flows through the Strait of Hormuz amid signs of progress in U.S.-Iran peace talks. Brent crude futures declined $1.18, or around 1.2%, to $76.72 a barrel while U.S. West Texas Intermediate fell $1.18, or 1.6%, to $72.68 a barrel by 10:06 a.m. ET (1406

ExxonMobil announces planned effective date for move to Texas

June 22, 2026

(Oil & Gas 360) – SPRING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation today announced that its redomiciliation from New Jersey to Texas is expected to become effective on July 1, 2026. As part of this change, ExxonMobil Holdings Corporation will become the publicly traded parent company, replacing Exxon Mobil Corporation of New Jersey. Shares will continue to trade on the New York Stock Exchange

U.S. airlines set to pocket $40 billion as jet fuel prices crash

June 22, 2026

( Oil Price) – U.S. airlines stand to save billions in dollars on jet fuel costs after the US-Iran peace deal sent oil prices sharply lower. Brent crude was trading at $79.22 per barrel at 6.05 am ET on Monday, nearly $20/bbl lower after Washington and Tehran agreed to a ceasefire and committed to 60 days of negotiations, while jet fuel spot prices

Chevron signs 20-year Microsoft power deal for West Texas AI project

June 22, 2026

(World Oil) – Chevron has signed a 20-year power purchase agreement with Microsoft to supply electricity from a planned natural gas-fired power facility in West Texas, marking a major step in the growing connection between U.S. energy production and artificial intelligence infrastructure. The agreement calls for Chevron subsidiary Energy Forge One to develop a co-located power facility that will provide dedicated electricity to a

Iran war triggers global race to build oil reserves: Bousso

June 22, 2026

(BOE Report) – Vulnerable countries that paid a high economic price during the Iran war are seeking to build domestic oil and gas storage buffers against future shocks, a drive that could bring roughly half a billion barrels of additional demand down the pike. While the near-total closure of the Strait of Hormuz cut off a fifth of global oil

Tanker traffic through Hormuz picks up after slower flows due to crossing concerns

June 22, 2026

(Investing) – SINGAPORE – Oil and liquefied natural gas tankers sailed through the Strait of Hormuz on Monday, in a sign of traffic slowly picking up after Iran said it had again closed the waterway over the weekend, shipping data showed. Iran lifted its effective blockade of Hormuz last week after agreeing to a 60-day ceasefire with the United States while talks

360 Energy Pulse: What mattered in energy this week- oil and gas 360

360 Energy Pulse: What mattered this week in energy

June 19, 2026

(Oil & Gas 360) – This week marked a notable shift in market sentiment. For months, energy markets were focused on disruption, conflict, and supply risk. Now, attention is turning toward reopening trade routes, restoring production, and assessing whether the world is moving from a supply crisis toward a period of greater abundance. Prices moved lower, but capital continued flowing

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