(World Oil) – A week since Israel and Iran started to exchange missile barrages, oil tanker transits through the critical Strait of Hormuz have remained largely steady. A seven-day rolling average for oil tankers above 10,000 deadweight tons that sailed through the Strait — the passageway for the Persian Gulf’s energy supplies to the world — was approximately 42-to-45, according
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 1 over last week, resulting in a total count of 554 rigs. Canada had an increase of 1 over last week, resulting in a total Canadian count of 139 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford, the DJ-Niobrara, the Eagle Ford,
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation. But the explorers have also hit dry wells,
(Investing)– Brent crude oil prices fell sharply Friday, giving back some recent gains after the White House signaled that U.S. President Donald Trump will delay a decision on entering the Iran-Israel war for two weeks. At 07:50 ET (11:50 GMT), Brent oil futures fell 3.7% to $75.96 a barrel, while West Texas Intermediate crude futures, which did not settle on Thursday due to a U.S. holiday,
(World Oil) – U.S. crude stockpiles declined the most in almost a year last week, signaling a tighter market for American oil just as the Israel-Iran conflict threatens supplies from the Middle East. Oil inventories dropped 11.5 million barrels in the week through June 13, the steepest slide since late June 2024, according to data released Wednesday by the U.S.
(Oil Price) – Russia believes that Moscow, its OPEC+ ally Saudi Arabia, and the United States could work together to stabilize the oil market if necessary, the head of Russia’s sovereign wealth fund told Reuters on Thursday. “There was an example when (Russian) President Putin, (U.S.) President Trump and (Saudi) Crown Prince Mohammed bin Salman played a key role in stabilising markets,” Dmitriev,
(BOE Report) – Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday. While its base case is that Brent declines to around $60/bbl in Q4 assuming no supply disruptions, Goldman said the $10/bbl premium appears justified in light of
(Investing) – CALGARY -Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump’s stance on the conflict kept investors on edge. Brent crude futures rose $1.60, or 2.1%, to $78.29 a barrel by 1030 ET. U.S. West Texas Intermediate crude for July was up $1.64, or 2.1%, at $78.34. Brent had surged
(Oil & Gas 360) – HOUSTON, June 17, 2025 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced its enhanced corporate strategy designed to position the Company as a leading pure-play offshore exploration and production company. Mr. Paul Goodfellow, the Company’s President and Chief Executive Officer, will provide additional details about the Company’s strategy during a conference call
(Investing) – Citi analysts said Wednesday that oil prices may continue to benefit from elevated geopolitical risk premiums in the near term, but they warned that oversupply risks in 2026 could limit further upside. In a new research note examining the offshore drilling sector, Citi outlines its base case assumptions and market outlook for dayrates and oil pricing fundamentals. “The Offshore
(World Oil) – Petrobras, Exxon Mobil Corp. and Chevron Corp. have won exploration rights in Brazil’s Equatorial Margin, betting that the nation’s environmental regulator will finally open the promising offshore oil region for drilling after years of delay. Brazil sold 19 out of 47 blocks offered in Foz do Amazonas basin in deep waters near the equator, making it the
(Investing) – Oil prices steadied on Wednesday after recent sharp gains as elevated Middle East tensions pushed up fears of supply disruptions, while industry data showed a massive draw in U.S. inventories. At 08:00 ET (12:00 GMT), Brent oil futures for August gained 0.1% to $76.52 a barrel, and West Texas Intermediate crude futures rose 0.1% to $73.32 a barrel. Iran’s Khamenei raises tensions further
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