The latest oil and gas news from around the world.
Updated: 1 hour 12 min ago
Pakistan Oil Tanker Transits Hormuz
A tanker laden with crude oil appears to have cleared the Strait of Hormuz and is now sailing to Pakistan, according to ship-tracking data.
EIA Ups WTI Price Forecast by $20 in Wake of Iran Conflict
In its latest short term energy outlook, the U.S. Energy Information Administration boosted its 2026 WTI average spot price forecast by $20 per barrel.
Trump Announces 'Bombing Raid' at Kharg Island
'United States Central Command executed one of the most powerful bombing raids in the History of the Middle East', U.S. President Donald Trump said.
DOE Approves 13 Pct Increase in Plaquemines LNG Exports
'This authorization will allow for an immediate increase in the volumes of LNG that Plaquemines LNG can export to non-FTA countries, which import the majority of U.S. LNG'.
TotalEnergies Plays Down War Impact on Operations
TotalEnergies said it was suspending production in Qatar, Iraq and the Emirati offshore but assured growth elsewhere and a surge in oil prices cushion the company from the Middle East war.
Iran Denies Seeking Truce as Dubai Oil Port Damaged
Iran denied US President Donald Trump's assertion that it wants ceasefire talks, launching fresh attacks across the Persian Gulf and forcing a suspension of flights at Dubai's main airport.
IEA Expects Quick Release of Asia Pacific Oil Stocks
'Stocks will be made available by IEA member countries in Asia Oceania immediately while stocks from IEA member countries in the Americas and Europe will be made available starting from the end of March'.
Equinor to Supply Biomethanol to Wallenius Wilhelmsen
Equinor signed a two-year contract with Norwegian compatriot Wallenius Wilhelmsen to supply the ro-ro shipper with locally produced bio-methanol from 2026.
Oil at $100 Promises Boon for Algeria
The North African nation of 47 million people has long relied on some of the continent's largest oil and gas reserves to pay for many of its subsidies.
Brent Holds Above $100 as Conflict Drags
Brent closed above $100 for a second session while traders weigh war risks and extreme volatility.
Mines Across Hormuz Would Create Lethal Barrier
Iran has vowed to keep the strait closed, but whether it's actually mining the area is contested.
USA Crude Oil Stocks Rise Almost 4MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 443.1 million barrels on March 6, according to the EIA's latest weekly petroleum status report.
Oil Drillers Resort to Trucks as California Pipe Idled
Oil drillers in central California have resorted to the costly and cumbersome alternative of trucking crude barrels 50 miles.
DOI Announces Results of BBG2 Lease Sale
13 companies submitted 38 bids totaling $69,838,782, a DOI statement highlighted.
Petronas Makes Discovery offshore East Java
'The Barokah-1 discovery reinforces the compelling exploration potential we continue to see in the Northern Madura region, East Java'.
Analyst Warns of 'Big, Big Risk' for Oil Over Weekend
No one in their right mind would dare to sit short oil over the coming weekend, SEB Chief Commodities Analyst Bjarne Schieldrop said.
TotalEnergies Raises Production in Lapa offshore Brazil
The field, in the Santos basin, now has a production capacity of about 60,000 barrels per day of oil.
UAE Cuts Crude Shipments to Partners
ADNOC cut the volume of crude for its onshore partners by about a fifth for this month, although the flows will still go to a port outside the all-but-shuttered Strait of Hormuz.
Court Upholds Petrofac Deal with Creditors
A court upheld a 'voluntary arrangement' between the energy engineering company and certain creditors, in a challenge by UK tax authorities that threatened to delay Petrofac's sale of its Asset Solutions business.
Brent Closes Above $100 Amid Gulf Crisis
Oil surged as Gulf supply disruptions pushed Brent above $100 for the first time since 2022.
