Crude Oil – Page 4 – Oil & Gas 360

Chevron, US refiners’ shares surge after Trump’s move toward Venezuela oil

January 5, 2026

(BOE Report) – U.S. oil companies’ shares rose in premarket trading on Monday as investors bet that President Donald Trump’s move against Venezuela’s leadership would allow American firms greater access to the world’s largest oil reserves. Shares of Chevron, the only U.S. major currently operating in Venezuela’s oil fields, climbed 7.3%, while refiners Phillips 66, Marathon Petroleum, Valero Energy and PBF

Argentina’s shale boom propels it past Colombia in oil output

December 31, 2025

(Oil Price)– Argentina, in a surprise development, overtook Colombia to become South America’s fourth-largest oil producer. The country is undergoing a once-in-a-generation unconventional hydrocarbon boom, which began with Buenos Aires nationalizing integrated energy major YPF in 2012. Since then, Argentina’s oil and natural gas output has kept soaring higher, regularly hitting new monthly highs as volumes of shale oil and gas

Oil prices set for biggest annual slump since 2020 as supply glut weighs

December 31, 2025

(Investing)– Oil prices were trading modestly higher on Wednesday but still heading toward their steepest annual losses since 2020, as persistent supply surplus concerns dominated markets through the year despite recurring geopolitical risks that offered only intermittent support. As of 05:30 ET (10:30 GMT), Brent Oil Futures expiring in March traded rose 0.2% to $61.47 per barrel, while West Texas Intermediate (WTI)

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 1.9 million barrels

December 31, 2025

Weekly Crude Oil Storage as of December 26, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.9 million barrels from the previous week. At 422.9 million barrels, U.S. crude oil inventories are 3% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,

Oil tankers still arriving in Venezuela despite US blockade, data shows

December 31, 2025

(Investing)– At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA’s effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade of all sanctioned vessels going

US crude, product inventories rise again

December 31, 2025

(Oil Price)– The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 1.7 million barrels in the week ending December 26. Crude oil inventories rose by 2.4 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 5.1 million barrels for

Chevron continues U.S. deliveries of Venezuelan crude despite maritime blockade

December 30, 2025

(World Oil)– At least two vessels chartered by Chevron Corp. that picked up oil from Venezuela since the Trump administration launched a partial maritime blockade have successfully unloaded cargoes at U.S. ports, according to data reviewed by Bloomberg. Chevron, which holds a U.S. license to drill and export oil from the sanctioned country, has finished discharging a cargo from the

Crude prices rebound on stalled Ukraine negotiations, China growth pledge

December 30, 2025

(World Oil)– Oil reversed Friday’s decline as U.S.-led talks to end the war in Ukraine failed to yield a breakthrough, and China vowed to support growth next year. Brent traded near $62 a barrel, while West Texas Intermediate topped $58. The U.S. has stepped up a push to end the war, but sticking points remain, highlighting the difficulty in reaching

Five energy market trends to track in 2026, the year of the glut: Bousso

December 29, 2025

(BOE Report)– Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified targeting of

Oil jumps 2% as investors weigh Ukraine talks against supply outlook

December 29, 2025

(Investing)– Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by 1416 GMT while U.S. West Texas Intermediate crude was up $1.31, or

Saudi Arabia set to lower oil prices to Asia again

December 29, 2025

(Oil Price)– Saudi Arabia is expected to further lower the price of its crude oil bound for Asia in February, as global supply remains plentiful and spot benchmarks in the Middle East have dropped, a Reuters survey of six Asian refining sources showed on Monday. Saudi Arabia, the biggest crude exporter in the world, is poised to reduce the price of

Oil up as market weighs strong US economic growth, supply risks

December 24, 2025

(Investing)– Oil prices settled higher on Tuesday as investors assessed stronger-than-expected U.S. economic growth and the risk of disruptions to oil supply from Venezuela and Russia. Brent crude futures settled 31 cents, or 0.5%, higher at $62.38 a barrel. U.S. West Texas Intermediate crude was up 37 cents, or 0.64%, at $58.38. Prices had risen by more than 2% on Monday,

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