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Trump, Iran Cite Progress in Talks as Uncertainty Hangs Over Strait

Latest, Oil, US News / By

* Tehran says gaps remain over nuclear issues, Strait of Hormuz* Trump cites ‘very good conversations’ * Iran reimposes Strait of Hormuz closure * Shipping remains uncertain after vessels report gunfire By Trevor Hunnicutt, Ariba Shahid and Muhammad Al Gebaly WASHINGTON/ISLAMABAD, April 19 – Iran’s top negotiator said recent talks with the U.S. had made …

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US Lends 26.03 Million Barrels of SPR Oil in Third Batch Since Iran War

Conventional Energy, Latest, Oil, US News / By

The U.S. Department of Energy said on Friday it had loaned26.03 million barrels of crude oil from the Strategic Petroleum Reserve to nine oil companies, the third allotment under the Trump administration’s effort to curb fuel prices that have surged since the U.S.-Israeli war on Iran. The Trump administration agreed in March to release 172 …

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Iraq Says Oil Exports to Resume From All Fields Within Days, State News Agency

CDN and International News, Conventional Energy, Latest, Oil / By

Iraq says oil exports to resume from all fields within days, state news agency Iraq’s oil ministry said oil exports would resume from all fields within the next few days, the Iraqi state news agency INA reported on Saturday. Four energy sources said that Iraq resumed southern oil exports on Friday after a halt of …

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Goldman Sees Softer Oil Demand, Flags Two-Sided Risks to 2026 Price Outlook

Conventional Energy, Latest, Oil, US News / By

Goldman Sachs said softer oil demand and easing supply disruptions have balanced out the risks in its oil price outlook, though it kept its 2026 average forecasts unchanged. The bank maintained its Brent and WTI crude forecasts for 2026 at $83 a barrel and $78 a barrel, respectively, assuming oil flows through the Strait of …

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Oil Settles Down 9% After Iran Declares Strait of Hormuz Open

Conventional Energy, Energy Topics & Technology, Finance, Forecasts, Latest, Oil, US News / By

By Georgina Mccartney Brent and WTI crude make largest daily drops since April 8 US-Iran negotiations progress, according to media report US military blockade of Iran remains in effect HOUSTON, April 17 (Reuters) – Oil prices settled down by around 9% on Friday after Iran said passage for all ​commercial vessels through the Strait of …

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Hormuz Reopening Not Like ‘Flipping a Switch’ for Rattled Oil Markets: Professor

Conventional Energy, Latest, Oil, US News / By

Energy industry experts say it could be a while before any calm returns to rattled oil markets after Iran’s top diplomat declared the Strait of Hormuz “completely open” to commercial traffic that had all but ceased when war engulfed much of the region seven weeks ago. “It will take several weeks, actually, for things to …

Hormuz Reopening Not Like ‘Flipping a Switch’ for Rattled Oil Markets: Professor Read More »

US Drillers Cut Oil and Gas Rigs for Second Straight Week, Baker Hughes Says

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second straight week for the first time since March, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by …

US Drillers Cut Oil and Gas Rigs for Second Straight Week, Baker Hughes Says Read More »

Traders Place $760 Million Bet on Falling Oil Ahead of Hormuz Announcement

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Forecasts, Latest, Oil / By

(Reuters) – Investors placed a bet worth about $760 million on a falling oil price around 20 minutes before Iran’s foreign minister announced on Friday that the Strait of Hormuz was open, another sizeable wager on the world’s most traded commodity ahead of major announcements in the course of the Middle East war. Large, well-timed …

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How 50 Days of the Iran War Led to the Loss of $50 Billion Worth of Oil

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – The world has lost over $50 billion worth of crude oil that has not been produced since the Iran war began nearly 50 days ago and the aftershock of the crisis will be felt for months and even years to come, according to analysts and Reuters calculations. Iranian Foreign Minister Abbas Araqchi said …

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Reactions of Industry and Leaders to Iran Saying Hormuz is Open

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Iran’s foreign minister said the Strait of Hormuz, a critical waterway for transporting global oil and gas, was open for all commercial vessels following a ceasefire accord agreed in Lebanon. Here are some quotes from the shipping industry and world leaders on the Iranian declaration. SHIPPING INDUSTRY: KNUT ARILD HAREIDE, CEO OF THE …

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