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(Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating for a fourth month in a row to the lowest since October 2021, 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 Oil and Gas Rig Count Falls for Fourth Month to Oct 2021 Low, Baker Hughes Says Read More »
US shale oil producers are unlikely to increase production in response to President Donald Trump’s call to “Drill, Baby, Drill” and will instead prioritize hedging contracts to lock in revenue. Companies are wary of being caught off guard by another false start in global crude markets and will not spend heavily on new drilling without …
US Shale Producers Unlikely to Heed Trump’s Call to “Drill, Baby, Drill” as Rally Fades Read More »
In a bid to defuse the conflict over Iran’s nuclear program, foreign ministers from Europe’s top three powers hurried to meet their Iranian counterpart on Friday in Geneva. Those hopes collapsed on Saturday when U.S. President Donald Trump ordered airstrikes on Iran’s three main nuclear sites, in support of Israel’s military campaign.“It’s irrelevant to …
US Strikes on Iran Leave Hopes for Nuclear Diplomacy in Tatters Read More »
By Reuters (Reuters) – Oil prices jumped on Monday to their highest since January as Washington’s weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both …
Oil Hits Five-Month High After US Hits Key Iranian Nuclear Sites Read More »
(The opinions expressed here are those of the author, a columnist for Reuters.)*US strikes on Iran spur fear of disruption to Middle East oil exports *Iran able to block the Strait of Hormuz, has tried in the past *Disruptions likely to be met by swift response from US Navy By Ron Bousso LONDON, June 22 …
Iran Oil Doomsday in Hormuz May be More Fear Than Reality: Bousso Read More »
Summary Oil futures rise on the week US imposes new Iran-related sanctions amid diplomatic efforts US oil and natural gas rig count falls for eighth straight week, first time since September 2023 EU abandons proposal to lower Russian oil price cap (Reuters) – Oil prices settled down on Friday as the U.S. imposed new Iran-related …
Oil Prices Settle Lower as US Sanctions Ease Fears of Escalation in Iran Read More »
(Reuters) – Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the …
Oil Prices Fall as US Delays Decision on Direct Iran Involvement Read More »
Shell Plc has contingency plans in case the conflict between Israel and Iran disrupts flows from the region, warning that a potential blockage of the Strait of Hormuz could deliver a substantial shock. About a quarter of the world’s oil trade passes through the Strait of Hormuz, which links the Persian Gulf to the Indian …
Shell CEO Warns of ‘Huge Impact’ If Strait of Hormuz Blocked Read More »
Summary Brent and WTI benchmarks up more than 2% War risk continues to underpin market IEA global oil supply forecast revised upwards (Reuters) – Oil prices were driven higher on Tuesday by the Iran-Israel conflict, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained …
Oil Prices Rise as Iran-Israel Conflict Escalates Read More »
Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies. Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April …
Oil Prices Jump More Than 5% After Israel Strikes Iran Read More »
