(Reuters) – The United States and Iran are not quite at the finish line, but are very close to a deal to resolve their conflict, a senior U.S. official said on Friday, adding that Washington expects to sign an initial deal in the coming days. “The negotiating team has got us in a very good …
Iran Deal Very Close, Signing Possible in Coming Days, US Official Says Read More »
(Reuters) – U.S. energy firms cut the number of rigs operating for the first time in eight weeks, energy services firm Baker Hughes said in a closely followed report on Friday. The total oil and gas rig count, an early indicator of future output, fell by 1 to 562 in the week to June 12. …
US Energy Firms Cut Rigs for First Time in Eight Weeks, Baker Hughes Says Read More »
(Reuters) – The extreme volatility of global oil prices has drained liquidity from the market this year at the fastest pace on record, as investors have become increasingly wary of committing cash to an asset that has become hostage to U.S. President Donald Trump’s daily social media posts on the Iran war. Liquidity, or how …
Tired of Chaos, Investors Retreat From Oil Market at Record Pace Read More »
(Reuters) – Since the start of the Iran war and Tehran’s announcement that the Strait of Hormuz was “closed”, the market has grappled to put a figure on lost crude supply and to predict the price of oil. Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 …
Lost Gulf Oil Exports Far Smaller Than Thought, Traders and Shippers Say Read More »
(Reuters) – Exxon Mobil Corp is exploring potential acquisition targets, including Australia’s Woodside Energy Group, Bloomberg News reported on Friday, citing people familiar with the matter. Any move for Woodside would further strengthen the U.S. oil major’s position in liquefied natural gas (LNG), a business that major energy companies increasingly see as a key growth …
(Reuters) – Chevron is continuing to look at new opportunities in the Middle East and may have more exposure to the region in the future, Chief Executive Officer Mike Wirth said on Friday. Terms of investing in the region are better than they’ve historically been, Wirth said, adding that the Middle East currently accounts for …
Chevron Continues to Look at New Opportunities in Middle East, CEO Says Read More »
(Reuters) – Roughly 7 million barrels of oil are getting out of the Persian Gulf each day with U.S. military help, U.S. Energy Secretary Chris Wright said on Friday at an event in Houston. No Iranian crude is getting out of the Strait of Hormuz, Wright said, adding that he expected to see the free …
US Military Helps Move 7 Million Barrels of Oil Per Day Out of Persian Gulf, Wright Says Read More »
(Reuters) – U.S. President Donald Trump denied on Friday that the United States has made major concessions to Iran and a senior U.S. official called an emerging pact “performance-based” with Tehran getting no frozen assets until its part of the agreement is fulfilled. In a post on his Truth Social platform, Trump said Iran’s leaked …
Summary Upside risks remain, seasonal demand could lift prices, analysts say OPEC lowers 2026 oil demand growth forecast to 970,000 bpd, raises 2027 demand growth LONDON, June 12 (Reuters) – Oil prices fell over 3% on Friday to their lowest in nearly two months after U.S. President Donald Trump cancelled new strikes on Iran, reducing fears of …
Oil Falls to Near Two-Month Lows as Trump Calls Off Threatened Strikes on Iran Read More »
US summer driving season hits as gasoline supplies squeezed tight (Reuters) – U.S. vacationers are barreling into peak summer driving season just as the gasoline market faces a supply crunch, with resilient domestic demand and surging fuel exports threatening to strain thin inventories and send pump prices climbing. Surging summer demand from American motorists has …
US Summer Driving Season Hits as Gasoline Supplies Squeezed Tight Read More »
