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U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and the U.S. and Israeli war with Iran widened. “I would say unlikely, but we are focused on the military operation and solving a problem,” Wright …
Oil Unlikely to Hit $200 a Barrel, US Energy Chief Says Read More »
Goldman Sachs raised its Brent and WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 as it sees longer disruption to oil flows in the Strait of Hormuz due to the U.S.-Israeli war on Iran. Brent prices have gained more than 36% since the war began on …
Goldman Sachs Raises Q4 Brent, WTI Crude Price Forecast Amid Longer Hormuz Disruption Read More »
The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million …
US to Release 172 Million Barrels of Oil From Strategic Petroleum Reserve Read More »
The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that the world should be ready for oil at $200 a barrel after striking tankers in Iraqi waters and other ships near the vital Strait …
Trump and Iran Signal No Quick End to War as Oil Tankers Burn in Iraqi Waters Read More »
Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled up nearly 5% on Wednesday as fresh …
Oil Settles up Nearly 5% as Supply Fears Mount Despite Record Stocks Release Plan Read More »
(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered …
Only Trump Can Approve Possible US Participation in Oil Release, Says Burgum Read More »
(Reuters) – U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon …
Trump to Invoke Emergency Law for California Oil Producer Sable, Bloomberg News Reports Read More »
(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict. “I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and …
By Erwin Seba and Nicole Jao India’s Reliance to invest in refinery, buy output Deal likely to reduce trade deficit with India Fuel prices spike as US, Israel attack Iran HOUSTON, March 10 (Reuters) – President Donald Trump on Tuesday announced the construction of a refinery on the southern U.S. border backed by India’s Reliance …
Trump Announces New US Refinery Backed By India’s Reliance Read More »
By Ron Bousso LONDON, March 11 (Reuters) – The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports from the Middle East …
COMMENTARY: Historic Oil Reserve Release is Only a Band-Aid on a Gaping Supply Shock Read More »
