(Reuters) – Shipping companies should not load or discharge cargo at Saudi Arabian ports and such activity may result in being targeted “in any location” by Yemen’s Iran-aligned Houthi militia, according to an email sent to companies by the Houthis. The Houthis on Monday declared a naval blockade against Saudi Arabia, opening a potential new …
Houthis Warn Shipping Companies to Avoid Saudi Ports, Email Shows Read More »
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Tuesday that there has been a substantial decrease in China’s purchases of Iranian oil. “We have sanctioned Chinese… so-called teapot refineries, which are the private refineries, and we’ve seen a substantial decrease in their purchases of Iranian oil,” Bessent said in an interview with Fox Business …
Bessent Says China’s Iranian Oil Purchases Have Decreased- Fox Business Read More »
(Reuters) – Goldman Sachs said on Monday that Brent crude could top $120 a barrel in the fourth quarter this year and average $100 a barrel next year if flows through the Strait of Hormuz remain disrupted and Gulf output only fully recovers by the end of 2027. Oil prices softened on Tuesday, with markets …
Goldman Sees Brent Exceeding $120/bbl in Q4 if Hormuz Disruptions Persist Read More »
(Reuters) – Saudi Arabia’s crude oil exports in May fell to 3.434 million barrels per day from 3.986 million bpd in April, official data showed on Tuesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published …
Saudi Arabia Crude Exports Fall to 3.434 mln bpd in May Read More »
July 21 (Reuters) – The International Energy Agency’s (IEA) member countries still hold substantial emergency oil stocks in reserve despite the largest coordinated release of strategic reserves on record, it said on Tuesday. The agency said that about 290 million barrels of oil have been released by member countries since the release was announced on …
IEA Says Substantial Emergency Oil Stocks Remain After Record Release Read More »
Halliburton’s quarterly Middle East revenue falls nearly 11% CEO Miller expects North America recovery to continue this year Shares fall 4.3% July 21 (Reuters) – Halliburton (HAL.N) edged past Wall Street estimates for second-quarter profit on Tuesday as gains in its other international markets offset declines in the Middle East, but shares fell 4.3% in …
Halliburton Beats Estimates on Europe, Latin America Oilfield Services Demand Read More »
DUBAI, July 21 (Reuters) – Abu Dhabi’s state energy company ADNOC has taken a $6.2 billion final investment decision to develop the Umm Shaif Gas Cap, in an acceleration of its integrated global gas growth strategy, the company said Tuesday. The FID was made alongside ADNOC’s international partners, TotalEnergies (TTEF.PA), Eni (ENI.MI), and China National …
ADNOC Greenlights $6.2 Billion Umm Shaif Gas Cap Project Read More »
By Anushree Ashish Mukherjee China sharply cut crude imports and demand, reducing pressure on global oil markets U.S. boosted output and released Strategic Petroleum Reserve crude June reopening of Strait of Hormuz eased immediate supply fears July 20 (Reuters) – As the United States and Israel went to war with Iran at the end of …
Why Oil Prices Haven’t Gone Crazy Despite 5 Months of US-Iran War Read More »
ways by Bloomberg AI Halliburton, SLB Ltd., and Baker Hughes Co. are expected to report hits to their bottom line due to the Iran war’s impact. The companies’ earnings reports will offer insight into the path forward in the Middle East and clues on how quickly global oil field activity could rebound in 2027. Investors …
Oil-Service Companies Set to Reveal War’s Impact on Earnings Read More »
By Arathy Somasekhar Mediators propose 10-day ceasefire to revive Iran-U.S. interim deal, says Iranian official Brent and WTI benchmarks earlier hit more than one-month highs Iran’s Guards say two oil tankers immobilised in Strait of Hormuz Houthis say they are imposing a naval blockade on Saudi Arabia HOUSTON, July 20 (Reuters) – Oil prices settled …
Oil Settles 1% Higher as Hopes of Renewed US-Iran Negotiations Offset Houthi Threat Read More »
