With “several billion barrels of resources” left untapped in the Powder River Basin, Continental Resources is nearing full-scale development of the Niobrara Shale in Converse County, Wyoming, executives told Hart Energy in an exclusive interview.
Summary Saudi Arabia, UAE the only OPEC+ members that can raise output Global spare capacity may be as low as 3 million bpd Global supply cushion roughly equals Iranian output Iran pledges to retaliate for Israeli strikes (Reuters) – Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply …
OPEC+ Would Struggle to Cover Major Iranian Oil Supply Disruption Read More »
Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict. Call options grant the holder a right to buy futures contract at the preset price and date, and a rise …
Traders Pile into $80 US Oil Bets as Tensions Rise in Middle East Read More »
Even as trade concerns ease, geopolitical tensions are still a risk.
A desperate Iran could disrupt the flow of oil in the Strait of Hormuz, which would boost prices, says Stratas Advisors.
(Reuters) – U.S. ultra-low sulfur diesel futures hit the highest level since February, outpacing gains in oil and gasoline as analysts warned that diesel supply is the most exposed to the conflict in the Middle East. Israel on Friday launched the biggest ever direct attack on Iran and said the huge wave of airstrikes was …
Diesel Most Exposed to Middle East Conflict, US Futures Surge 8% Read More »
(Reuters) – U.S. natural gas futures climbed about 3% on Friday, tracking gains in oil prices after Israel launched strikes against Iran, raising worries the conflict could disrupt Middle Eastern oil and gas supplies. U.S. crude futures jumped $4.94, or 7.3%, to settle at $72.98 a barrel, their highest close since February. Gas futures for …
US Natgas Prices Climb 3% on Soaring Oil Futures After Israel Strikes Iran Read More »
U.S. Energy Secretary Chris Wright said on Friday he and his team are working with the White House’s National Security Council to monitor the situation in Middle East and any potential impacts to global energy supply. Wright said on X, after Israel’s strikes on Iran’s nuclear sites and Iran’s response, that President Donald Trump’s policy …
US Energy Chief Monitoring Any Impacts to Global Energy Supply Read More »
(Reuters) – The West’s energy watchdog said on Friday it was ready to release oil stocks should the market experience shortages following Israel’s attack on Iran, drawing criticism from rival OPEC which said the statement would only create fear in the market. The International Energy Agency, representing oil consumers, and the Organization of the Petroleum …
IEA Says it Stands Ready to Tap Emergency Oil Stocks, OPEC Sees No Need Read More »
By Erwin Seba Oil gains of up to 14% were largest intraday move since 2022 Iran’s nuclear facility in Natanz damaged in Israeli attack No impact to oil flows in the region so far -analysts Israeli attacks kill key Iranian military commanders Trump urges Iran to make a deal over its nuclear programme HOUSTON, June …
Oil Up 6%, Paring Sharp Gains as Israel Strikes Avoid Iran Oil Sites Read More »
