US-Iran hostilities escalate sharply, oil surges above $90 on Hormuz fears
Renewed fighting between the US and Iran raised fresh concerns over Strait of Hormuz exports, pushing Brent crude toward $100 and oil above $90 per barrel.
Rigzone · +1 outlets
Asian LNG prices surge to highest since 2022 as Iran war escalates
Spot LNG prices for Asian buyers reached nearly $26 per mmBtu following renewed US-Iran strikes, intensifying competition for global LNG supply.
Oilprice · +1 outlets
Hormuz disruptions could drag into next year, Japanese tanker giant warns
Mitsui OSK Lines, the world's largest tanker operator, expects Strait of Hormuz shipping disruptions to continue beyond year-end with no normalization in sight.
Oilprice · +1 outlets
Europe's low gas stocks set stage for winter LNG battle
Europe's natural gas storage at near two-decade lows risks intensifying the race for LNG supply as both Europe and Asia compete for a shrinking pool.
Oilprice · +1 outlets
US diesel prices hit highest since April war peak
US diesel advanced to its highest price since the initial US-Iran war peak in April, threatening to raise costs across freight, agriculture and heavy industry.
Oilprice · +2 outlets
Global refining crunch could keep fuel prices high into 2027
Damaged refineries in the Middle East and Russia, combined with insufficient new capacity, are expected to keep global fuel prices elevated into next year.
Oilprice
Trump presses US oil refiners to ease pump prices
President Trump met with US oil refiners in a closed-door meeting urging them to boost domestic gasoline and diesel production.
Rigzone · +1 outlets
OPEC+ set to hold oil output steady as Iran war disrupts supply
OPEC+ is expected to leave output policy unchanged for October when core members meet, amid supply disruptions from the Iran conflict.
Oilprice
Chevron announces JV plans to invest $7B in Venezuela
Chevron's joint ventures in Venezuela plan to invest over $7 billion over five years, aiming to more than double oil production to about 600,000 bpd.
Rigzone · +2 outlets
Iraq hikes oil exports via Hormuz in boon for Asian refiners
Iraq more than doubled its crude oil exports via the Strait of Hormuz in August by offering steep discounts for Basrah loadings.
Oilprice · +1 outlets
Chinese refiners pay record premiums for Russian ESPO crude
Chinese refiners are paying hefty premiums for Russia's ESPO crude to replace Iranian crude imports blocked by the US naval blockade.
Oilprice · +1 outlets
Asian oil buying spree sends Dubai crude toward $100
Stronger Chinese and Indian demand for Middle Eastern crude grades has pushed Dubai futures close to $100 per barrel.
Oilprice · +1 outlets
Diversified to acquire Elliott Permian assets for $1.8B
Diversified signed agreements to acquire Birch Permian from Elliott for $1.8 billion, supported by an expanded investment partnership with Carlyle.
Rigzone · +1 outlets
ONEOK to grow Midland midstream footprint with Brazos acquisition
ONEOK agreed to buy Brazos Midstream's Permian gas gathering and processing assets for $4.425 billion, enabled by a $9 billion minority investment from Apollo.
Rigzone · +1 outlets
Budget airline Ryanair warns jet fuel shock could wipe out rivals
Ryanair warned that soaring jet fuel prices could threaten some European competitors with collapse next summer.
Oilprice · +1 outlets
US SPR depletion threatens further oil price volatility
US crude inventories are declining and the Strategic Petroleum Reserve is approaching critically low levels, adding upward pressure on oil prices.
Oilprice
SOCAR to invest in Haynesville with nearly $1.7B Comstock partnership
Azerbaijan's state oil company SOCAR signed a preliminary deal to acquire a stake in Haynesville gas assets operated by Comstock for $1.65 billion.
Rigzone · +1 outlets
SB Energy files for IPO to tap AI power thirst
SB Energy Corp, backed by SoftBank and OpenAI, filed for a US IPO to capitalize on surging power demand from artificial intelligence.
Rigzone