(Investing) – Baker Hughes (NYSE:BKR) said on Monday it expects global spending by oil and gas producers to decline modestly this year. The company said growth in Latin America, offshore Africa, and North America land will be offset by lower spending in Europe and the Middle East. The Middle East conflict has dominated energy markets this year. Repeated flare-ups in tensions between
(Oil Price) – Oil prices have been on a climb for over a week now as hostilities in the Middle East continue, and despite recent talk of a glut, the physical market is flashing signs of tightness—and higher oil for longer. Earlier this month, analysts were quick to start warning of an oil glut looming over the world as traffic via
(By Oil & Gas 360) – Energy markets continued shifting from crisis pricing toward normalization this week, but the transition remains uneven. Oil prices weakened as Hormuz flows improved and Saudi Arabia prepared to cut prices, yet shipping uncertainty, strategic reserve building, and new attacks kept risk alive. The market is no longer pricing full disruption, but it is not
(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
(Oil & Gas360) By Greg Barnett, MBA – If Matt Simmons helped explain the growing engineering complexity beneath the world’s oil reservoirs, Thomas A. Petrie spent decades explaining something equally important above ground: oil is never just a commodity. It is capital, power, diplomacy, security, industrialization, and national survival operating simultaneously. In Following Oil, Petrie chronicled how energy systems reorganize
(World Oil) – Vitol’s top executive in the Middle East said that many Western governments still aren’t reckoning with the oil supply crunch that’s rippling around the world due to the blockade of the Strait of Hormuz. “In Europe and I think in the U.S., everyone is kind of asleep at the wheel and just carrying on life as normal,” Tom
(BOE Report) – French oil major TotalEnergies made the decision to buy large amounts of Middle East crude in March after its traders noticed the U.S. Navy amassing ships near the Gulf in February, its CEO told French newspaper Le Figaro in an interview published on Thursday. “Our oil traders — and it’s their job — noticed that the U.S. Navy was
(Oil Price) – Concerns about energy security and the push in many countries to boost electrification to replace road transportation fuels are making clean energy investments hot again. As the Middle East crisis and the still closed Strait of Hormuz forces governments into action, renewable stocks and markets are poised for a rebound from institutional investors and hedge funds after
(Oil Price) – Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, Reuters reports. The vessels departed the strategic waterway on Wednesday, after being stranded inside the Persian Gulf for over two months, lending hope to an end to the closure of the strait. The crude cargoes were
(Oil & Gas 360) By Greg Barnett, MBA – If the first Gray Swan resides beneath Iran’s tanks and inside its reservoirs, the second flies openly above the Strait of Hormuz. This is the domain of leverage rather than logistics, of influence rather than infrastructure. It is where diplomacy, energy flows, and great‑power competition intersect—and where markets persistently mistake management
(Oil Price) – Global oil demand is set to exceed supply in the current year amid the ongoing conflict in the Middle East, reversing previous projections of a surplus. According to the May 2026 Oil Market Report by the International Energy Agency (IEA), global oil supply is projected to fall by 3.9 million bpd across 2026, with ~10.5 million bpd of Gulf
(By Oil & Gas 360) – Coal has been written off many times before. Each time, it stayed. Today, the conversation is returning with more urgency. Climate targets, investor pressure, and policy commitments continue pushing toward a future with less coal. But the real question is no longer whether coal use should decline. The question is whether the world is
