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By Patrick Sykes The US and Iran have been locked in a stalemate since agreeing to a ceasefire in April. They’ve been unable to reach a deal to end a monthslong war that has killed thousands of people and sparked a global energy crunch. Tensions remain high as Iran maintains a tight grip on shipping …
The Key Sticking Points for a US-Iran Peace Deal Read More »
By Georgina Mccartney, Arathy Somasekhar and Ashitha Shivaprasad May 22 (Reuters) – An oil pipeline operated by Plains All American (PAA.O) ruptured in East Los Angeles, California, the company said on Friday, adding that the impacted section of the pipeline was shut down. The line was struck by a third party conducting excavation work, the …
Plains Oil Pipeline Partly Shut Down After Rupture in East Los Angeles, Company Says Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the fifth week in a row for the first time since February 2025, 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, rose by seven …
US Drillers Add Oil/Gas Rigs for Fifth Week in a Row, Says Baker Hughes Read More »
By Erwin Seba Rubio says more work needed in Iran talks despite some progress Iran, US maintain opposed on Tehran’s uranium, Strait of Hormuz OPEC+ expected to increase July oil output, sources say WTI, Brent headed for weekly losses HOUSTON, May 22 (Reuters) – Oil prices climbed on Friday, as investors worried that the U.S. …
Oil Prices Settle Higher on Slow Progress in US-Iran Peace Talks Read More »
(Reuters) – As prices for physical crude oil hit all-time highs of over $160 per barrel last month, analysts and traders alike rushed to predict a market Armageddon if the U.S.-Iran war dragged on and the Strait of Hormuz stayed closed. Five weeks later, with the strait still largely shut and peace talks at an …
China Oil Import Cut, Higher US Exports Wrongfoot Market Bulls Read More »
(Reuters) – China’s gas destocking signals stronger LNG imports ahead of winter, reinforcing upside risks to European gas prices, particularly if disruptions to Hormuz energy flows persist, Goldman Sachs said in a note on Thursday. The bank said that China’s April gas demand was marginally down year-over-year at 379 billion cubic meters per year (Bcm/y) …
Goldman Sachs Sees China’s Natgas Destocking Boosting LNG Imports Ahead of Winter Read More »
(Reuters) – EU antitrust regulators will decide by June 26 whether to clear oilfield services firm Baker Hughes’ $13.6 billion acquisition of Chart Industries, according to a European Commission filing. Baker Hughes announced the deal in July last year to boost its presence in industrial technology servicing liquefied natural gas and data centres and also leverage its industrial …
EU Regulators to Decide on Baker Hughes’ $13.6 billion Chart Deal by June 26 Read More »
May 21 (Reuters) – U.S. oil major Exxon Mobil (XOM.N) is in talks to acquire rights to produce oil in Venezuela nearly two decades after it was effectively expelled from the country, the New York Times reported on Thursday, citing people familiar with the matter. The deal, which could be finalized and announced as soon …
Exxon May Acquire Rights to Produce Oil in Venezuela, New York Times Reports Read More »
By Nicole Jao Automobile association expects record 39.1 million to travel by car this weekend Gasoline prices surge due to Iran conflict; Strait of Hormuz closure impacts supply Analysts warn that low inventories, refinery outages and hurricanes could push prices higher NEW YORK, May 21 (Reuters) – Soaring gasoline prices and a looming fuel crunch …
Americans Brace for Pricey Summer Travel With Fuel Costs Near Multi-Year Highs Read More »
Army Corps mandates stricter safety, monitoring for Dakota Access pipeline Conditions include enhanced leak detection, water monitoring systems, independent review of pipeline leak No new pipeline segments authorized HOUSTON, May 21 (Reuters) – The Dakota Access oil pipeline can keep operating under stricter environmental and safety conditions, the U.S. Army Corps of Engineers said on …
US Keeps Dakota Access Pipeline Open With Tighter Environmental Checks Read More »
