Goldman Sachs said in a note on Friday that global oil demand has declined more than expected, posing two-sided risks to its fourth-quarter 2026 Brent crude price forecast of $90 a barrel and WTI forecast of $83 per barrel. The bank estimated 4 million to 5 million barrels per day (mb/d) of global oil …
Goldman Sachs Says Global Oil Demand Takes Big Hit, Sees Risks to Price Forecast Read More »
By Paula Sambo, Liana Baker, and Mathieu Dion A surge in electricity demand from artificial intelligence and data centers is reshaping North America’s power markets, creating a “renaissance” for natural gas after decades of limited new development, according to KKR & Co. partner Brandon Freiman. The power sector has moved from years of flat demand …
AI Power Boom Revives Natural Gas as Infrastructure Bet Read More »
By Nichola Groom Trump’s Alaska drilling rights auction attracted only two bidders Winning bids totaled $3.7 million Only five tracts auctioned out of 58 offered June 5 (Reuters) – The Trump administration’s Friday auction of oil and gas leases in Alaska’s Arctic National Wildlife Refuge attracted only $3.7 million in winning bids for five tracts …
Auction of Oil Drilling Rights in Alaska Wildlife Refuge Draws Tepid Response Read More »
Hezbollah leader rejects Lebanon ceasefire deal Iranian oil exports fall to lowest level in six years, data shows OPEC secretary general says oil demand to remain robust, no change to estimates HOUSTON, June 5 (Reuters) – Oil prices fell on Friday as traders gained confidence that renewed conflict between the U.S. and Iran was growing …
Oil Prices Fall on Mounting Hopes for De-Escalation in US-Iran War Read More »
By Scott Disavino NEW YORK, June 5 (Reuters) – U.S. energy firms this week added rigs for a seventh week in a row for the first time since May 2022, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and natural gas rig count, an early indicator of …
US Energy Firms Add Rigs for Seventh Week in a Row, Says Baker Hughes Read More »
(Reuters) – Companies that borrowed oil from the U.S. Strategic Petroleum Reserve in recent months will add an extra 40 million barrels of crude in the form of premiums after the conflict in Iran is over, U.S. Energy Secretary Chris Wright said on Friday in an interview on Fox Business. Fuel prices have spiked since …
(Reuters) – Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader financial markets. Some fear the next move higher for …
Global Oil Inventories Depleted, Next Price Spike Could Roil Economies, Markets Read More »
(Reuters) – Here are the main issues between the United States and Iran as they seek a deal to end their war, which is now in its fourth month: HORMUZ AND GULF BLOCKADE Iran’s closure of the Strait of Hormuz, normally the conduit for around a fifth of global oil and liquefied natural gas shipments, …
What Issues Do The US And Iran Need to Resolve for Any Peace Deal? Read More »
(Reuters) – President Vladimir Putin said on Thursday that Russia was ready to resume gas supplies to Germany via the Nord Stream pipeline that was heavily damaged by undersea explosions in 2022, and the onus was on Berlin to make up its mind. Putin told journalists in St. Petersburg that one of the two …
Summary U.S. will auction 689,000 acres of oil and gas leases in Alaska’s Arctic National Wildlife Refuge Industry interest uncertain after previous ANWR lease sales attracted few or no bids Supporters cite jobs and energy security, while critics warn of environmental damage and risks to Indigenous communities’ way of life June 5 (Reuters) – …
Trump Administration to Auction Oil Drilling Rights in Alaska Wildlife Refuge Read More »
