US News - Today in Oil and Gas

More Tankers Come Under Attack as US-Iran Conflict Spreads in the Region

(Reuters) – More tankers came under attack in Gulf waters on Thursday as the U.S.–Iran war escalated, and Iranian drones entered Azerbaijan, threatening to spread the crisis to more oil producers in the region. A Bahamas-flagged crude oil tanker was targeted by an Iranian remote-controlled boat laden with explosives while anchored near Iraq’s Khor al …

More Tankers Come Under Attack as US-Iran Conflict Spreads in the Region Read More »

Energy Dominance Won’t Stop US Fuel Costs Pushing Higher

Diesel Fuel, Energy Topics & Technology, Gasoline, Latest, US News / By mark

Being the world’s No. 1 driller isn’t enough to shield the country from the effects of the war. By Will Kubzansky The Iran war may be happening on the other side of the world, but US consumers are already starting to see the effects. Average gasoline prices jumped to $3.25 a gallon on Wednesday, according …

Energy Dominance Won’t Stop US Fuel Costs Pushing Higher Read More »

India Seeks US Marine Cover for Middle East Energy Cargoes, Source Says

Conventional Energy, Latest, Oil, US News / By mark

(Reuters) – India is in talks with the United States to secure marine cover for vessels shipping oil from the Middle East, as New Delhi seeks to shield buyers from potential supply disruptions caused by the crisis in the Gulf, a ‌government official said on Thursday. “So far we are comfortable,” the official, who did …

India Seeks US Marine Cover for Middle East Energy Cargoes, Source Says Read More »

US Diesel Hits $4 Per Gallon as Fuel Costs Rise Amid Escalating Middle East Conflict

Conventional Energy, Diesel Fuel, Energy Topics & Technology, Latest, US News / By mark

Reuters Average U.S. retail diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday and are set to rise further later in the week as the U.S.-Israel conflict with Iran dragged on, threatening to hit consumers with sticker shocks on everything from food to furniture. Prices for diesel, used …

US Diesel Hits $4 Per Gallon as Fuel Costs Rise Amid Escalating Middle East Conflict Read More »

Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets

Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands, Tri-Pinned, US News / By mark

Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened …

Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets Read More »

NO TAKERS: Oil Companies Shun Trump Administration’s Alaska Offshore Auction

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Pinned Primary, US News / By mark

(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President …

NO TAKERS: Oil Companies Shun Trump Administration’s Alaska Offshore Auction Read More »

Insurance Broker Marsh Meets US Officials on Restoring Gulf Maritime Trade Amid Iran War

Latest, US News / By mark

(Reuters) – Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz. The waterway, a critical chokepoint between Iran and Oman, carries about a fifth …

Insurance Broker Marsh Meets US Officials on Restoring Gulf Maritime Trade Amid Iran War Read More »

Oil Companies Shun Trump Administration’s Alaska Offshore Auction

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, US News / By mark

Oil Companies Shun Trump Administration’s Alaska Offshore Auction Read More »

US Crude Stocks Climb to Near 1-Year High as Exports and Imports Fall, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By mark

(Reuters) – U.S. crude stocks rose to their highest level since May 2025 last week, the Energy Information Administration said on Wednesday, as exports and imports declined. Crude inventories rose by 3.5 million barrels to 439.3 million barrels in the week ended February 27, the EIA said, compared with analysts’ expectations in a Reuters poll …

US Crude Stocks Climb to Near 1-Year High as Exports and Imports Fall, EIA Says Read More »

US Treasury Secretary Bessent Says Oil Market Well Supplied Amid Iran War

Conventional Energy, Latest, Oil, US News / By mark

(Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water …

US Treasury Secretary Bessent Says Oil Market Well Supplied Amid Iran War Read More »