Exxon and Chevron post blowout Q3 profits as refining margins surge on war-driven fuel prices
Both supermajors beat estimates as refining, not production, drove results during Middle East conflict and elevated crude prices.
Oilprice · +14 outlets
Big Oil rakes in $130B-plus windfall as Iran war pushes pump prices higher before midterms
Industry profits and rising gasoline, diesel and jet fuel costs have become a central political issue heading into the U.S. midterm elections.
Rigzone · +15 outlets
Oil traders brace for volatile week as Brent approaches $120 on Iran and Hormuz supply fears
Renewed U.S.-Iran hostilities and attacks on tankers have lifted crude near triple digits, unsettling global fuel markets.
Oilprice · +11 outlets
European benchmark gas tops 101 euros for first time since 2022 as storage runs low
Winter supply concerns and unusually low storage lifted Dutch TTF front-month gas to levels last seen during the 2022 energy crisis.
Oilprice · +5 outlets
Europe releases 42 million barrels of emergency oil, half diesel, to cool fuel prices
Coordinated stockpile releases aim to offset supply disruptions and cap diesel and crude costs.
IndexBox · +14 outlets
Chevron raises exploration spending by 50% as it returns to frontier drilling
After years focused on the Permian and Gulf of Mexico, Chevron is reviving high-impact exploration and expanding in Venezuela.
Oilprice · +11 outlets
Exxon plans over $100B in capex through 2030, CEO tells CNBC
Exxon's CEO says the investment is aimed at expanding global energy supplies.
Rigzone · +2 outlets
Energy secretary pushes permitting reform, praises Oklahoma oil and gas ahead of midterms
Washington is pressing for faster federal permits and new oil and gas incentives as the sector's output and workforce needs grow.
KGOU · +4 outlets
European gas and diesel price spike revives debate over refinery phase-down policy
High fuel prices are prompting Europe to reconsider plans to retire refining capacity as clean energy goals collide with supply security.
Oilprice · +3 outlets
Gasoline up 34% and heating oil up 74% as voters head to the midterms
Energy costs have become a flashpoint in state and federal races, with heating oil drawing particular attention in the Northeast.
Oilprice · +9 outlets
Refining margins rebound, putting fuel-making oil stocks back in focus
Strong diesel and gasoline cracks have made downstream earnings the key driver of Big Oil results this quarter.
Simply Wall St · +10 outlets
Banks expect elevated oil prices to extend into 2027 as supply risks deepen
Analysts are raising crude forecasts and flagging exploration and production names as supply threats persist.
Oil & Gas 360 · +14 outlets
Trump administration moves to end methane restrictions on oil and gas drilling
The rollback of Clean Air Act methane rules is the latest step in unwinding Biden-era oil and gas regulation.
Insurance Journal · +14 outlets
Japan set to overtake China as world's largest LNG importer this year
High prices and ample Chinese storage are shifting the ranking of top liquefied natural gas buyers for the first time since 2022.
Oilprice · +14 outlets
U.S. LNG export boom faces its biggest test yet as global demand and prices climb
A decade after the shale gas buildout, American LNG export capacity and contracting face new market and policy pressures.
Oilprice · +10 outlets
U.S. awards last of Trump's massive Strategic Petroleum Reserve drawdown
The final award closes out a drawdown that had injected crude into the market to counter supply disruptions.
Yahoo Finance · +12 outlets
U.S. rig count holds at 603 as oil drilling gains offset natural gas decline
Baker Hughes data show domestic drilling activity unchanged, with oil rigs up and gas rigs down.
Oilprice
U.S. crude oil inventories drop week on week, EIA data show
Commercial crude stocks excluding the SPR fell to about 410.6 million barrels as of October 23.
Rigzone