- — Oil choppy as investors gauge hopes for Strait of Hormuz reopening
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at 8/7/26 3:00pmOil prices oscillated around the flatline on Friday, as investors parsed through reports that Iran considering prohibiting U.S. and Israeli vessels from traversing the Strait of Hormuz. As of 05:50 ET (09:50 GMT), Brent crude futures, the global oil benchmark, had fallen 0.3% to $82.25 per barrel, while U.S. West Texas Intermediate (WTI) crude futures ...- — ExxonMobil in Mozambique Awards McDermott Letter of Intent for Rovuma LNG Project
- at 8/7/26 3:00pmMcDermott Energy Solutions (UK) Limited, a subsidiary of McDermott and a majority shareholder in the SMDC joint venture with Saipem S.p.A., Daewoo Engineering Construction Co. Ltd. and China Petroleum Engineering Construction Corporation (CPECC), has been awarded by ExxonMobil Moçambique Limitada, on behalf of the Area 4 partners, a letter of intent including limited ...
- — India’s fuel demand rises 2.9% in July from year earlier
- at 8/7/26 11:00amIndia’s fuel consumption reached 19.92 million metric tons in July, marking a 2.9% increase from the same month in 2025, according to data from the Petroleum Planning and Analysis Cell of the oil ministry. Gasoline sales climbed 9.2% year-over-year to 3.82 million metric tons. Diesel consumption rose 10.0% to 8.09 million metric tons during the ...
- — The Commodities Feed: Oil rallies as chances of US-Iran deal fade
- at 8/7/26 4:00amEnergy US-Iran deal obstacles Oil prices rallied yesterday, with ICE Brent settling 3.8% higher on the day, taking it back above $82/bbl. This strength continued in early morning trading today. Developments over the last 24 hours or so demonstrate once again that negotiations between the US and Iran are unlikely to proceed smoothly. There ...
- — China’s real oil demand masked by rise of unlicensed fuel trade: sources
- at 8/7/26 4:00amChinese oil demand figures derived from official data may underestimateactual consumption, as a resurgence in unlicensed fuel sales since the start of the Middle East war has diverted diesel and gasoline volumes away from monitored retail channels, according to five analysts, six traders and four transport operators. Beijing does not publish actual oil consumption figures, ...
- — Saudi Aramco cuts Arab Light crude price to Asia for September
- at 8/7/26 4:00amSaudi Arabia reduced the official selling price for its main Arab Light crude oil grade to Asian buyers in September, according to a pricing document reviewed. State oil company Saudi Aramco (TADAWUL:2223) set the official selling price for Arab Light to Asia at $2 per barrel below the Oman/Dubai average for September. The price represents ...
- — US fuel supply declines in July
- at 8/7/26 4:00amThe US supplied 11% less fuel oil per day on average in July compared to June, according to the Energy Information Administration (EIA). Changes in monthly US residual fuel oil from June to July: Production up 1,000 b/d to 304,000 b/d Supply down 39,000 b/d to 313,000 b/d Imports up 43,000 b/d to 155,000 b/d ...
- — The U.S.-Canada natural gas and electricity trade value rose in 2025
- at 8/7/26 4:00amAlthough the total value of energy trade between the United States and Canada fell by 11% in 2025 to an estimated $137 billion, according to data from the U.S. Census Bureau, the trade value of natural gas and electricity between the two countries increased slightly primarily because of increased natural gas prices and trade volume. ...
- — UK Natural Gas Rises Further
- at 8/7/26 4:00amUK natural gas prices rose further to 140 pence per therm on Friday, recovering most of the losses recorded earlier in the week as renewed tensions in the Strait of Hormuz heightened uncertainty over the resumption of LNG flows from the Persian Gulf. Iranian state media reported that naval forces had carried out an operation ...
- — India’s ONGC sees modest output growth; Western Offshore to drive gains in FY 2027-28
- at 8/6/26 3:00pmIndias leading state-run explorer Oil and Natural Gas Corp. expects its stand-alone output of oil and oil-equivalent gas to reach about 39 million metric tons in fiscal year 2026-27 (April-March), up 0.4% year over year, company officials said Aug. 5. Output is expected to rise further to about 40 million mt in FY 2027-28, driven ...
- — The Commodities Feed: Oil under pressure as Iran and Oman reach Hormuz deal
- at 8/6/26 4:00amEnergy US exports record volumes of distillates ICE Brent continues to trade below $80/bbl as the market pins its hopes on a deal between the US and Iran. It would resume energy flows through the Strait of Hormuz. Iran signalled progress toward this goal, announcing that it has reached an agreement with Oman on ...
- — The Arb View: Atlantic Basin barrels come into play
- at 8/6/26 4:00amRed Sea disruption has tightened Dubai and reopened west-to-east arbs, while the CPC halt removes roughly 800 kbd from the Med. Prompt DFL should remain supported, although Europe could get some relief if Saudi barrels are redirected west through SUMED. Asia now offers the better paper economics for Midland, and we expect physical flows to ...
- — Westwood Insight – Offshore Field Development Capex to Reach US$137bn in 2026
- at 8/6/26 4:00amGlobal offshore field development capex is forecast to reach US$137 billion in 2026 as operators double down on long-cycle projects. Despite geopolitical disruption and oil price volatility, operators have remained committed to long-cycle offshore developments, particularly deepwater and floating platform projects. Although contracting activity started slowly in early 2026, both the floating production systems (FPS) ...
- — Wartime experience bolsters Ukraine’s winter gas prep, says Naftogaz acting CEO
- at 8/6/26 4:00amLessons learned over the last four-plus years of war have helped Ukraine maintain robust natural gas preparations for the coming winter, despite persistent Russian strikes on energy assets that point to what may be the war-torn countrys toughest heating season yet, Serhiy Fedorenko, acting CEO of state-owned oil and gas company Naftogaz, told Platts, part ...
- — UK Natural Gas Prices Rebound
- at 8/6/26 4:00amUK natural gas prices rose above 132 pence per therm on Thursday, rebounding from a three-week low amid lingering concerns over the outlook for gas supplies. While risk premiums eased after Iran announced it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, LNG supply risks remained elevated. ...
- — More than 100 countries have adopted energy policies to adapt to Hormuz closure: IEA
- at 8/5/26 3:00pmMore than 115 countries have adopted policy measures like energy conservation, price supports and structural changes to adapt to the energy impact of the Iran war and the closure of the Strait of Hormuz, an official form the International Energy Agency said Aug. 4. Demand-side measures are not enough to replace the sheer size of ...
- — US crude inventories rise while fuel stocks decline, EIA says
- at 8/5/26 3:00pmUS crude oil stockpiles increased by 2.5 million barrels to reach 407 million barrels during the week that ended on July 31, the Energy Information Administration reported Wednesday. The build exceeded market expectations, which had anticipated a draw of 1.5 million barrels. Crude stocks at the Cushing, Oklahoma delivery hub climbed by 2.4 million barrels ...
- — Oil turns higher on reports of Houthi attacks on Saudi tanker in Red Sea
- at 8/5/26 3:00pmOil prices rose on Wednesday, reversing some losses logged earlier this week, following reports of a fresh attack on Saudi ships by Iran-backed Houthis in Yemen threatened guarded optimism for a Middle East peace deal. As of 05:17 ET (09:17 GMT), , the global benchmark, had edged up by 0.9% to $80.05 per barrel, while ...
- — Trump says Iran will be ‘hit very hard’ if Hormuz Strait not open soon as oil prices fall
- at 8/5/26 11:00amDonald Trump said the Strait of Hormuz would open very soon or Iran would be hit very hard as oil prices fell to a three-week low amid hopes of a deal. The US president was speaking to Fox News after Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both said talks had progressed ...
- — European gas prices steady near 3-week lows as traders weigh supply risks
- at 8/5/26 11:00amEuropean natural gas prices hovered near their lowest levels in three weeks as traders balanced reports of progress in Middle East diplomatic talks against persistent European storage deficits and ongoing shipping bottlenecks through the Strait of Hormuz. Benchmark Dutch front-month futures and equivalent British gas contracts traded flat on Wednesday, lingering near the multi-week lows ...
- — The Commodities Feed: Oil sinks as deal optimism grows
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at 8/5/26 4:00amEnergy – Brent below $80/bbl on deal hopes Oil prices sold off further yesterday, with ICE Brent settling more than 5% lower, leaving it below $80/bbl. And this downward pressure has continued in early morning trading today. The renewed weakness in the market comes amid growing signs of the US and Iran moving closer to ...
As of 8/9/26 11:21am. Last new 8/8/26 2:16am.
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