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Iran’s Strait of Hormuz body said on Friday it would waive planned fees to use the strait during a 60-day negotiation period under the memorandum of understanding signed with the United States this week. Ships seeking passage through the strait while the interim agreement is in force must submit transit requests at least 48 …
Iran Says it Will Waive Fees for Hormuz During 60 Day Negotiation Period Read More »
U.S. energy firms this week added rigs for the eighth time in nine weeks, energy services firm Baker Hughes said in its closely followed report on Thursday. The total oil and gas rig count, an early indicator of future output, rose by one to 563 in the week to June 18, its highest since …
US Energy Firms Add Rigs for Eighth Time in Nine Weeks, says Baker Hughes Read More »
A growing stream of stranded oil is making its way out of the Strait of Hormuz as the US-Iran interim peace deal sparks a flurry of activity. Ships carrying nearly 10 million barrels of oil have either emerged outside the strait or are sailing through, including the first Saudi-owned tankers since the start of the …
Stranded Oil Is Streaming Out of Hormuz as Deal Takes Effect Read More »
OPEC Sees No Peak Oil Demand as Energy Security Beats Climate OPEC forecasts “robust growth” in global oil demand, with demand projected to rise to 113.3 million barrels a day in 2030 and 124.1 million barrels a day by 2050. The largest increments of oil demand growth will come from Asia, the Middle East, …
OPEC Sees No Peak Oil Demand as Energy Security Beats Climate Read More »
A top US energy regulator voted to ease environmental requirements for pipelines and other natural gas projects, saying they’re not needed after a recent Supreme Court ruling. The five-member Federal Energy Regulatory Commission moved on Thursday to no longer require an analysis of cumulative impacts, part of the decades-old National Environmental Policy Act. That policy requires an examination …
MAKING PROJECTS EASIER: US Eases Environmental Reviews for Natural Gas Projects Read More »
Alaric Nightingale and Paul Burkhardt The US and Iran have committed to reopening the Strait of Hormuz, the world’s most important artery for shipping oil and natural gas, which has been largely blocked since the two countries went to war in February. However, returning traffic in the strait to prewar levels — if that day ever comes — …
Why Restoring Normal Traffic Through Hormuz Won’t Be Easy Read More »
Reuters Citi said on Thursday it expects oil prices to trend lower over the next six to 12 months, to $60 to $65 per barrel by the first quarter of 2027 as flows through the Strait of Hormuz normalize following the signing of a U.S.-Iran MoU to end their conflict. Oil tankers sailed through the …
Citi Sees Oil Prices Trending Lower to $60 to $65 Per Barrel by First Quarter of 2027 Read More »
Reuters Citi said on Thursday it expects oil prices to trend lower over the next six to 12 months, to $60 to $65 per barrel by the first quarter of 2027 as flows through the Strait of Hormuz normalize following the signing of a U.S.-Iran MoU to end their conflict. Oil tankers sailed through the …
Citi Sees Oil Prices Trending Lower to $60 to $65 Per Barrel by First Quarter of 2027 Read More »
Energy companies are likely to keep crude output steady this year in North Dakota, the third-largest U.S. oil-producing state, its regulator said on Thursday, despite a sharp decline in oil prices after the United States and Iran signed an interim deal to end their war. Oil prices fell on Thursday to their lowest since …
North Dakota’s Oil Output Expected to be Steady Despite Price Drop, State Regulator Says Read More »
The blast was so powerful that the huge disc-shaped lid of an oil storage tank was launched into the sky over Moscow like a frisbee. Evading Russian air defences, Ukrainian drones struck an oil refinery in southeast Moscow on Thursday for the second time in three days, igniting a fierce blaze that spewed out clouds …
Ukraine Brings the War to Moscow as Huge Blasts Shakes Refinery Read More »
