Trump, Iran Cite Progress in Talks as Uncertainty Hangs Over Strait

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* Tehran says gaps remain over nuclear issues, Strait of Hormuz* Trump cites ‘very good conversations’ * Iran reimposes Strait of Hormuz closure * Shipping remains uncertain after vessels report gunfire By Trevor Hunnicutt, Ariba Shahid and Muhammad Al Gebaly WASHINGTON/ISLAMABAD, April 19 – Iran’s top negotiator said recent talks with the U.S. had made …

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US Lends 26.03 Million Barrels of SPR Oil in Third Batch Since Iran War

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The U.S. Department of Energy said on Friday it had loaned26.03 million barrels of crude oil from the Strategic Petroleum Reserve to nine oil companies, the third allotment under the Trump administration’s effort to curb fuel prices that have surged since the U.S.-Israeli war on Iran. The Trump administration agreed in March to release 172 …

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Iraq Says Oil Exports to Resume From All Fields Within Days, State News Agency

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Iraq says oil exports to resume from all fields within days, state news agency Iraq’s oil ministry said oil exports would resume from all fields within the next few days, the Iraqi state news agency INA reported on Saturday. Four energy sources said that Iraq resumed southern oil exports on Friday after a halt of …

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Goldman Sees Softer Oil Demand, Flags Two-Sided Risks to 2026 Price Outlook

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Goldman Sachs said softer oil demand and easing supply disruptions have balanced out the risks in its oil price outlook, though it kept its 2026 average forecasts unchanged. The bank maintained its Brent and WTI crude forecasts for 2026 at $83 a barrel and $78 a barrel, respectively, assuming oil flows through the Strait of …

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Ships Test Strait of Hormuz After Opening, Seek Assurances on Safety

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By Jesus Calero and Gus Trompiz Threat of mines not fully understood, US Navy advisory warns Norway shippers also flag uncertainty over mines UN’s IMO says currently verifying details A group of ships tests Hormuz exit PARIS, April 17 (Reuters) – A group of ships made an unsuccessful attempt to exit the Gulf on ‌Friday …

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US Energy Department Restores Funding to Carbon Removal Projects

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By Valerie Volcovici WASHINGTON, April 16 (Reuters) – The Department of Energy will retain funding for major carbon direct air capture awarded under the Biden administration after targeting them for ​fund cancellation last year, according to a list of projects identified ‌by the agency that it sent to Congress this week seen by Reuters. Last …

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Oil Settles Down 9% After Iran Declares Strait of Hormuz Open

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By Georgina Mccartney Brent and WTI crude make largest daily drops since April 8 US-Iran negotiations progress, according to media report US military blockade of Iran remains in effect HOUSTON, April 17 (Reuters) – Oil prices settled down by around 9% on Friday after Iran said passage for all ​commercial vessels through the Strait of …

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Hormuz Reopening Not Like ‘Flipping a Switch’ for Rattled Oil Markets: Professor

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Energy industry experts say it could be a while before any calm returns to rattled oil markets after Iran’s top diplomat declared the Strait of Hormuz “completely open” to commercial traffic that had all but ceased when war engulfed much of the region seven weeks ago. “It will take several weeks, actually, for things to …

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US Drillers Cut Oil and Gas Rigs for Second Straight Week, Baker Hughes Says

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(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second straight week for the first time since March, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by …

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Traders Place $760 Million Bet on Falling Oil Ahead of Hormuz Announcement

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(Reuters) – Investors placed a bet worth about $760 million on a falling oil price around 20 minutes before Iran’s foreign minister announced on Friday that the Strait of Hormuz was open, another sizeable wager on the world’s most traded commodity ahead of major announcements in the course of the Middle East war. Large, well-timed …

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