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By EnergyNow Editorial Staff The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest government-owned emergency crude oil stockpile. It was created after the 1973 Arab oil embargo to protect the United States from severe oil supply disruptions caused by wars, natural disasters, geopolitical crises, or major market shocks. The reserve is managed by the …
by EnergyNow Editorial Staff The Trump administration has launched a major effort to expand offshore oil and gas development along the California coast, reopening a debate that has largely been dormant for decades. In January, the U.S. Department of the Interior began the process of considering new offshore lease sales in federal waters off Central …
Trump’s Push for New Offshore Drilling Off California Faces Growing Opposition Read More »
SINGAPORE, June 15 (Reuters) – Oil prices slipped in early trading on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said they have reached a deal to halt the war and to resume traffic through the Strait of Hormuz. Brent crude futures fell $3.51, or 4.02%, to $83.82 by 2203 GMT and …
Liquefied natural gas demand in Asia is quietly recovering from the shock of losing almost 20% of global supply to the Iran conflict as top buyer China shows signs of returning to the market. The biggest-importing region is on track for arrivals of 21.83 million metric tons in June, the most for five months and …
LNG Demand in Asia Recovers From Iran Shock as China Buys Read More »
Summary Brent projected to average $90.44 per barrel in 2026 WTI projected to average $84.63 per barrel in 2026 (Reuters) – Analysts have increased their 2026 oil price forecasts for the third time since the Iran war began at the end of February, as they cite a months-long timeline for energy flows to normalise to …
Analysts Hike Oil Forecasts Again as Energy Flows Face Slow Recovery Read More »
(Reuters) – The U.S. and Iran are discussing a plan to open the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities, the Nikkei newspaper reported on Monday citing a Middle East diplomatic source. Iran would proceed to clear mines from the strait during a 30-day window following …
Iran Would Open Strait of Hormuz 30 Days After Peace Deal – Source Read More »
Summary LNG tankers Fuwairit, Al Rayyan and Al Hamra cross strait VLCC Eagle Verona heads for China with Iraqi Basrah crude (Reuters) – Ship-tracking data showed three liquefied natural gas tankers passed through the Strait of Hormuz in recent days, heading to Pakistan, China and India, as well as a supertanker with Iraqi crude for …
Oil and LNG Tankers Exit Hormuz, Heading for Pakistan and China Read More »
(Reuters) – President Donald Trump said on Friday he discussed Chinese oil companies that have been sanctioned for buying Iranian oil and will make a decision about whether to lift bans in the next few days. The U.S. recently imposed sanctions on several Chinese oil refiners for buying Iranian oil, including Hengli Petrochemical, one of …
Trump Discussed Sanctioned Chinese Oil Refiners With Xi, Considering Lifting Bans Read More »
Summary Oil companies commit to move at least 400,000 bpd, or about 72% of the pipeline’s initial capacity, sources say South Bow, Bridger aim to reach about 450,000 bpd in committed capacity to green-light pipeline Commitments signal oil companies are eager for takeaway capacity for Canadian output HOUSTON, (Reuters) – A proposed pipeline …
GETTING CLOSE: Canada-US Oil Pipeline Close to Reaching Commitment Requirement Read More »
The proposed project will transport Canadian crude from the U.S.-Canada border to Wyoming U.S. President Donald Trump on Thursday signed an order authorizing a proposed project to transport Canadian oil across the border as part of an effort to revive parts of the cancelled Keystone XL pipeline. South Bow, the Canadian pipeline company behind …
Trump Signs Order Authorizing Bridger’s Canada-Wyoming Crude Pipeline Read More »
