Occidental’s Quarterly Realized Oil Prices Jump Amid Iran War Disruption

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(Reuters) – Shale producer Occidental Petroleum  said in a filing on Friday its worldwide average ​realized oil prices rose 38.4% in ‌the second quarter compared with the previous three months, driven by higher benchmark crude ​rates amid the Middle East conflict. ​The U.S.-Iran war has injected a hefty geopolitical ⁠risk premium into the energy ​markets and …

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US Pain at the Pump Worsens After More US-Iran Fighting Lifts Oil Prices

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Summary   AAA data showed average US gasoline prices rose 6 cents this week to $3.88 a gallon Friday Refinery outages in Russia and the United States are squeezing fuel supplies EIA data showed US petroleum products exports hit a weekly record 8.7 million bpd (Reuters) – U.S. drivers have seen gasoline prices climb again …

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US Issues Fresh Iran-Related Sanctions, Website Shows

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(Reuters) – The United States on Friday issued new Iran-related sanctions following Iran’s resumption of attacks on international shipping in the Strait of Hormuz, the Treasury Department said. The sanctions target Ali Ansari, an Iranian banker and businessman based in Dubai who had previously been sanctioned by Britain for his role in financially supporting the …

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US Energy Firms Add Rigs for Fourth Week in a Row, Says Baker Hughes

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(Reuters) – U.S. energy firms this week added rigs for a fourth week in a row for the first time since early June, energy services firm Baker Hughes said in its closely followed report on Friday. The report, which Baker Hughes usually releases around 1 p.m. EDT (1700 GMT) on Fridays, was delayed by around …

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Oil Prices Settle Lower on Hopes for Smoother Shipping in Strait of Hormuz

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By Erwin Seba Tanker traffic through Strait of Hormuz has slowed IEA says US-Iran escalation undermines oil surplus forecast Russia’s gasoline output covers 65% of demand after Ukrainian strikes, sources say HOUSTON, July 10 (Reuters) – Oil prices settled lower on Friday after the latest round of U.S.-Iran fighting ​as traders grew hopeful that shipping …

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US Natgas Falls 4% to 8-Week Low on Milder Weather Outlook, Lower LNG Export Flows

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(Reuters) – U.S. natural gas futures fell about 4% to an eight-week low on Friday on forecasts for less hot weather than previously expected over the next two weeks, an expected decline in flows to liquefied natural gas (LNG) export plants during maintenance at Freeport LNG in Texas, and ample amounts of gas in storage. …

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Iran Has Asked to Continue Talks and the US Agreed, Trump Says

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(Reuters) – President Donald Trump on Friday said the United States had agreed to talks with Iran after Tehran asked to continue negotiations, while stressing that the June ceasefire between the two nations was over. “The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United …

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Fed’s Williams Expects Energy Prices to Abate Even as Iran War Flares

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By Michael S. Derby New York Fed president expects energy prices to cool in remainder of 2026 He declines to say what Fed should do at next policy meeting Williams says balance sheet changes should focus on bank safety NEW YORK, July 9 (Reuters) – New York Federal Reserve President John Williams said on Thursday …

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Canada Carves Role for Gas in Clean Power Grid Strategy

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By Neil Ford Canada’s new national power strategy creates huge investment opportunities for grids and clean power while loosening restrictions on gas-fired plants. July 7 – In May, Prime Minister Mark Carney announced plans to double national power generation and grid capacity by 2050 at an estimated cost of C$1 trillion ($729 billion). The National …

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Fuel Markets Flash Supply Crunch Despite Calmer Oil Prices

Energy Topics & Technology, Gasoline, Latest, US News / By

(Reuters) – Gasoline and diesel markets are signalling a fuel supply crunch despite relatively subdued crude oil prices, suggesting the energy shock from the Iran war may be far from over. Energy prices surged after the U.S.-Israeli war on Iran led to the effective closure of the Strait of Hormuz, which carried about a fifth …

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