Industry News

Oil prices fell sharply as hopes grew for a Hormuz reopening agreement between the US and Iran.

The U.S. and Iran moved closer to an interim peace agreement meant to reopen the Strait of Hormuz.

'The acquisition of Savant secures control of strategic infrastructure adjacent to our eastern North Slope acreage, enhancing our ability to execute our planned drilling program efficiently'.

Aker BP and its partners in the Johan Sverdrup Unit on Norway's side of the North Sea completed a redetermination that entitles Aker BP to 2.2 million barrels of oil equivalent over the next 2 years due to its ownership increasing to 31.7163 percent.

The partnership covers assets valued around $983 million including 705 megawatts of operational capacity.

The Ukrainian state-owned company won 12-year rights to regasify at the liquefied natural gas terminal in Klaipeda, Lithuania.

Russian producers pumped an average of 9.009 million barrels a day of crude in May, according to OPEC.

The U.S. president pulled back threatened military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic 'VERY HARD' and threatened to seize its oil infrastructure.

Oil fell sharply after Trump signaled progress toward a potential peace deal with Iran.

The boss of Greece's Atlantic SEE LNG Trade said it's becoming more difficult to secure long-term liquefied natural gas deals with U.S. suppliers.

In a blog posted on its website on Monday, GasBuddy highlighted that U.S. gasoline prices had fallen for four straight weeks but warned that 'the streak may be in danger'.

Nigerian tycoon Aliko Dangote's refinery unit is seeking to raise as much as $1 billion through a private sale of debt, people with knowledge of the plan said.

'We've had one particular discussion with a proponent, actually a Fortune 500 company, in very general terms about financing the entire project and building the entire project', Alberta's energy minister Brian Jean said.

Crude oil stocks, not including the SPR, stood at 426.5 million barrels on June 5, the EIA's latest weekly petroleum status report showed.

Rystad Energy estimated that if U.S.-Iran 'hostilities were to resume in earnest', oil prices could 'move towards $150 per barrel'.

The U.S. military launched strikes against 'multiple' targets in Iran for the second straight day.

Oil prices rose after Trump warned Iran of further US attacks.

A tanker that has previously carried Iranian oil suffered a fire in the Gulf of Oman, maritime security companies and local navies said.

The number of oil tankers crossing Egypt's Suez Canal surged by almost a third in April and drove revenue to the highest since early 2024.

Antares Nuclear achieved 'initial criticality' for a microreactor design that uses TRISO fuel, the first to reach that stage under a Trump administration program.