Iran says draft deal with US would reopen Hormuz shipping, end naval blockade
(BOE Report) – Iran’s state TV said Tehran had obtained a draft of an initial, unofficial framework for a memorandum of understanding with the United States on ending their conflict. Under the framework, Iran
Iran says draft deal with US would reopen Hormuz shipping, end naval blockade
(BOE Report) – Iran’s state TV said Tehran had obtained a draft of an initial, unofficial framework for a memorandum of understanding with the United States on ending their conflict. Under the framework, Iran would restore commercial shipping through the
SBM Offshore’s FPSO cooling technology gains ABS approval
(World Oil) – SBM Offshore has received a Statement of Maturity from American
Oil prices fall as traders bet on U.S.-Iran deal
(Oil Price) – Oil prices dropped by around 4% early on Wednesday
bp removes chairman following governance oversight concerns
(World Oil) – bp said its board has removed Chairman Albert Manifold with immediate effect
SBM Offshore’s FPSO cooling technology gains ABS approval
(World Oil) – SBM Offshore has received a Statement of Maturity from American Bureau of Shipping (ABS) for its Seawater Intake Riser technology, a subsea cooling system designed to improve energy efficiency and reduce emissions on floating production units. Developed in
Oil prices fall as traders bet on U.S.-Iran deal
(Oil Price) – Oil prices dropped by around 4% early on Wednesday as hopes of a U.S.-Iran deal outweighed concerns about rapidly drawing inventories as the Strait of Hormuz remained closed on the back of fresh U.S.-Iran hostilities. As of
bp removes chairman following governance oversight concerns
(World Oil) – bp said its board has removed Chairman Albert Manifold with immediate effect following what the company described as governance oversight and conduct concerns. Albert Manifold served as chair of bp for less than eight months before the company’s board removed
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Weekly Inventories
U.S. crude oil inventories decrease by 7.9 million barrels
Weekly Crude Oil Storage as of May 15, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Weekly Gas Storage: Inventories increase by 101 Bcf
Natural Gas Inventories as of May 15, 2026 The EIA has released its natural gas inventory report, showing a net
U.S. rig count increased by 7, is at 558
This week’s Baker Hughes Rig Count shows that the U.S. increased by 7 last week, resulting in a total count
