Oil and Gas News
Market coverage tagged Oil and Gas.
- Market Flux Event
Brent Crude Settles at $104.32 as US-Iran Hormuz Diplomacy Drives Friday Selloff
Oil prices fell sharply on Friday as traders responded to hopes that US-Iran negotiations could produce a deal to reopen the Strait of Hormuz. Brent crude futures settled at $104.32 per…
- Market Flux Event
Oil Falls More Than 2% and Stocks Rise as US-Iran Nuclear Talks Enter Technical Stage
Crude oil prices dropped sharply on September 25 after reports emerged that negotiations between the United States and Iran had advanced into a technical stage, raising hopes that a deal…
- Market Flux Event
Oil Surges 4-5% After Houthi Missile Strike on Saudi Arabia Then Pulls Back on US-Iran Hormuz Talks
Oil prices swung sharply on Thursday after Yemen's Houthi forces fired ballistic missiles at Saudi Arabia, driving US crude up roughly $4 a barrel and Brent above $108 a barrel, a gain of…
- Market Flux Event
US Crude Inventories Rise 3 Million Barrels Against Expected 500,000-Barrel Draw
US commercial crude oil inventories posted an unexpected build for the week ended September 18, rising by 3 million barrels, according to the Energy Information Administration. Analysts had…
- Top Mover
Jefferies Cuts Valero and Marathon to Hold as Diesel Export Ban Threat Clouds Refining Outlook
Jefferies downgraded both Valero Energy and Marathon Petroleum from Buy to Hold on September 22, citing a deteriorating refining margin outlook and growing political risks. Jefferies set a…
- Top Mover
Jefferies Cuts Marathon Petroleum and Valero to Hold as Diesel Export Ban Threat Clouds Refining Outlook
Jefferies downgraded Marathon Petroleum from Buy to Hold on September 22, setting a price target of $413, citing a deteriorating refining margin outlook. The firm simultaneously cut Valero…
- Top Mover
Bank of America Raises Brent Crude Forecast to $95 and Warns of $150 Oil if Iran War Drags On
Bank of America raised its second-half 2026 Brent crude forecast to $95 per barrel from $83, citing persistent Middle East tensions as the primary driver, and warned that front-month prices…
- Market Flux Event
US Diesel Prices Top $6.50 a Gallon for First Time as Americans Spend $116 Billion More on Fuel Since March
US retail diesel prices have surpassed $6.50 a gallon for the first time on record, with GasBuddy data showing that 47 of 50 states have now set all-time diesel price records in 2026. The…
- Market Flux Event
Saudi Arabia Restarts East-West Pipeline at Low Capacity After September 11 Drone Attack
Saudi Arabia restarted its East-West Pipeline on Tuesday, September 22, resuming at least partial oil flows through the 4-million-barrel-per-day conduit that serves as the kingdom's primary…
- Market Flux Event
Abu Dhabi's XRG in Talks to Buy Stake in Shell-Led LNG Canada Project
Abu Dhabi's XRG, the international investment arm of state oil company ADNOC, is exploring an acquisition of a stake in LNG Canada, the Shell-led liquefied natural gas export project on…
- Market Flux Event
Nasdaq Notches New All-Time High as Oil Prices Slide on Iran Diplomacy Hopes
Wall Street extended its rally on Tuesday, September 22, with the Nasdaq Composite notching a new all-time high and the Dow Jones Industrial Average edging higher as oil prices fell sharply…
- Top Story
Brent Crude Falls Below $100 as Saudi Pipeline Restarts and Iran Offers to Reopen Hormuz Within a Week
Oil prices tumbled roughly 3 percent on Tuesday, pushing Brent crude below $100 a barrel for the first time since the U.S.-Iran conflict began, after two simultaneous supply-side…
- Market Flux Event
Saudi Arabia Restarts East-West Pipeline and Iran Offers to Reopen Hormuz Within Seven Days, Sending Oil Prices to Two-Week Low
Oil prices fell sharply on Tuesday, reaching their lowest level in two weeks, after Saudi Arabia began restarting its East-West pipeline and Iran signaled it could reopen the Strait of…
- Market Flux Event
BofA Raises Brent Crude Forecast to $95 as US-Iran Diplomacy Rattles Oil Markets
Oil markets swung in both directions on September 22 as traders weighed the prospect of US-Iran diplomatic talks against persistent Middle East tensions, with Bank of America delivering the…
- Market Flux Event
Brent Crude Falls Below $100 as Saudi Pipeline Restarts and Iran Offers to Reopen Hormuz Within a Week
Oil prices tumbled roughly 3 percent on Tuesday, pushing Brent crude below $100 a barrel for the first time since the U.S.-Iran conflict began, after two simultaneous supply-side…
- Market Flux Event
Brent Crude Settles at $100.34 After Four-Day Slide on Iran Diplomacy Hopes and Easing Saudi Supply Fears
Brent crude settled at $100.34 per barrel on Monday, a 3.4% decline, after briefly dipping as low as $98.98 during the session, marking a fourth consecutive day of losses and an 11-day low…
- Market Flux Event
Supertanker Freight Costs Hit Records as Libya Pipeline Shutdown and Persian Gulf Attacks Tighten Oil Markets
A convergence of supply disruptions is squeezing global oil markets even as WTI crude trades below $100 a barrel. Supertanker freight costs have surged to record levels, pushing crude…
- Market Flux Event
Bessent Says Post-Conflict Oil Supply Glut Will Bring Rates Down as Treasury Boosts Long-End Buybacks
Treasury Secretary Scott Bessent said that once the U.S.-Iran conflict ends, oil markets will flip to oversupply and inflation pressures will ease, allowing interest rates to fall. Bessent…
- Market Flux Event
Nasdaq Surges 2.5% as Brent Crude Drops Below $100 and Chip Stocks Lead Broad Rally
U.S. stocks climbed sharply on Monday, September 21, led by a renewed surge in technology and semiconductor shares as falling oil prices eased inflation fears and optimism built around an…
- Market Flux Event
Russia Set to Extend Diesel Export Ban as Global Prices Hit Records and Oil Slips on Hormuz Diplomacy
Russia is preparing to extend its ban on most diesel exports beyond September 30, with people familiar with the matter saying an extension is already understood to be coming, with the only…
- Market Flux Event
US Diesel Hits Record $6.51 a Gallon as Russia Extends Export Ban and Global Fuel Crunch Deepens
The national average price of diesel in the United States surged to a record $6.51 per gallon as of September 21, according to AAA data, up from roughly $6 a gallon just two weeks earlier…
- Market Flux Event
Oil Prices Hit 11-Day Low as UN Diplomacy Hopes and Saudi Export Recovery Weigh on Market
Oil prices fell to their lowest level in 11 days on Monday, September 21, as investors weighed the prospect of diplomatic progress between the United States and Iran at the United Nations…
- Top Mover
ConocoPhillips Drops 6.1% on Fed Day as Crude Retreats on Surprise Inventory Build
ConocoPhillips fell 6.1% on Wednesday, September 16, making it the worst performer among major oil names on a day when energy was the weakest sector across the entire U.S. stock market. The…
- Top Mover
EOG Resources Falls 5.7% on Fed Day as Crude Oil Retreat Hammers Energy Sector
EOG Resources dropped 5.7% on Wednesday, September 16, making it one of the worst performers in the energy sector on what traders called Fed Day, as falling crude oil prices dragged…
- Top Mover
Exxon Nears Return to Venezuela With PDVSA Deal as XOM Shares Fall 3.5% on Fed Day
Exxon Mobil is close to signing a preliminary agreement to invest in Venezuelan oil fields, marking a potential return to the country nearly 20 years after its exit. The company could sign…
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- Top Story
Saudi Arabia Eyes 50% East-West Pipeline Restart Within Days as Crude Falls and Diesel Hits Record
Saudi Arabia is seeking to restore roughly half the capacity of its 1,200-kilometer East-West Pipeline within days by rerouting flows to bypass the section damaged in last week's drone…
- Market Flux Event
Continental Resources Signs Preliminary Deal to Develop Venezuelan Oil Field at G20 Energy Summit
Harold Hamm's Continental Resources, the Oklahoma City-based independent oil company led by one of President Trump's closest allies in the energy industry, signed a preliminary deal to…
- Market Flux Event
US Crude Inventories Fall 0.6 Million Barrels as Implied Oil Demand Surges Nearly 2 Million BPD
The US Energy Information Administration reported a draw of 0.6 million barrels in crude oil inventories for the week ended September 11, a decline that came in smaller than market…
- Market Flux Event
Saudi Arabia Eyes 50% East-West Pipeline Restart Within Days as Crude Falls and Diesel Hits Record
Saudi Arabia is seeking to restore roughly half the capacity of its 1,200-kilometer East-West Pipeline within days by rerouting flows to bypass the section damaged in last week's drone…
- Market Flux Event
US Crude Settles Above $101 as Saudi East-West Pipeline Shutdown Raises Global Supply Fears
U.S. crude oil futures settled at $101.39 per barrel on September 14, up $1.34 or 1.34%, as markets digested the fallout from drone strikes that knocked Saudi Arabia's critical East-West…
- Market Flux Event
Costco raises Kirkland motor oil price to $57.99 and caps purchases at two units per week amid global lubricant shortage
Costco has raised the price of its Kirkland Signature full-synthetic motor oil 5-quart two pack to roughly $58, up from approximately $30 just a year ago, and is now limiting members to two…
- Top Story
Brent Crude Hits $108 as Saudi East-West Pipeline Shut for Weeks After Drone Strike
Brent crude surged to $108 per barrel on Monday before easing to around $106 to $107, after Saudi Arabia shut its critical East-West pipeline following a drone attack on Friday that…
- Market Flux Event
Global Energy Giants Rush to Expand LNG Supply as Middle East Crisis and Data Center Demand Reshape Gas Markets
A convergence of forces is driving a rapid buildup in global liquefied natural gas capacity, with major energy companies announcing expansion plans across four continents while a new…
- Market Flux Event
Brent Crude Tops $106 as Saudi East-West Pipeline Shuts After Drone Attacks, Closing Last Hormuz Bypass Route
Saudi Arabia shut down its East-West crude oil pipeline on Friday after multiple drone strikes launched from Iraq damaged the artery in the Riyadh and Medina regions on Thursday, removing…
- Market Flux Event
Saudi East-West Pipeline Shut for Weeks After Drone Attacks Sending Oil Above $100
Saudi Arabia closed its roughly 750-mile East-West pipeline, known as the Petroline, after it was struck by multiple drone attacks launched from Iraq, with the Saudi Ministry of Energy…
- Market Flux Event
Brent Crude Tops $108 as Saudi East-West Pipeline Faces Weeks-Long Outage and Gulf Hormuz Talks Collapse
Saudi Arabia's 1,200-kilometer East-West pipeline, the kingdom's only oil export route bypassing the blockaded Strait of Hormuz, will be mostly out of service for several weeks after a…
- Market Flux Event
Canada August CPI Holds at 3% as Gasoline Costs Stay Elevated and Food Prices Cool
Canada's annual inflation rate held steady at 3.0% in August, matching both the July reading and economist forecasts, Statistics Canada reported Monday. On a monthly basis, consumer prices…
- Market Flux Event
Oman Calls for New LNG Export Routes Around Strait of Hormuz as Gulf War Cuts 36 Million Tonnes of Supply
Oman's Minister of Energy and Minerals Salim Al-Aufi urged the global gas industry to develop alternative export routes for liquefied natural gas that bypass the Strait of Hormuz, speaking…
- Market Flux Event
Brent Crude Hits $108 as Saudi East-West Pipeline Shut for Weeks After Drone Strike
Brent crude surged to $108 per barrel on Monday before easing to around $106 to $107, after Saudi Arabia shut its critical East-West pipeline following a drone attack on Friday that…
- Market Flux Event
WTI Crude Settles at $100 After IEA Slashes Demand and Supply Forecasts Despite Sharp Weekly Gain
Oil prices slipped Friday but still posted a substantial weekly gain as Middle East supply risks continued to dominate the market. October WTI crude settled at $100.05 per barrel, down…
- Market Flux Event
Saudi Arabia Shuts East-West Pipeline After Multiple Drone Attacks Amid Iran Supply Shock
Saudi Arabia shut down its critical East-West Pipeline as a precautionary measure after the infrastructure was struck by multiple attacks on the morning of Thursday, September 10, 2026. The…
- Market Flux Event
Houthis Strike Saudi Arabia East-West Pipeline Pump Stations as Middle East Oil Routes Face Simultaneous Threats
Iran-backed Houthi forces struck multiple pump stations along Saudi Arabia's East-West oil pipeline on Thursday, September 11, with CNN citing two U.S. officials confirming that projectiles…
- Market Flux Event
US Diesel Hits Record $6 a Gallon as Energy Shock Spreads From Products to Crude
US diesel prices shattered the $6-a-gallon mark on Friday, driven by an Iran-related supply shock that is straining an already depleted refining system and threatening to lift grocery bills…
- Market Flux Event
White House Weighs Using Defense Production Act to Expand US Oil Refining Capacity
The White House is actively considering invoking the Defense Production Act to expand domestic oil refining capacity, according to two sources cited by Reuters on September 11. The move…
- Market Flux Event
Global Bond Selloff Pushes 10-Year Treasury Yield to the Cusp of 5% as Oil Tops $100 and Rate-Hike Fears Mount
A global bond selloff drove the U.S. 10-year Treasury yield to just under 5% on September 11, with borrowing costs from Tokyo and Sydney to London and New York at multi-decade highs. Oil…
- Market Flux Event
Houthi Advance Near Bab el-Mandeb Pushes Oil Above $100 as IEA Widens Supply Deficit Forecast
Houthi forces seized the Yemeni port city of Mocha after Saudi-backed government troops withdrew, then advanced south to Dhubab and Hisn Murad, giving them control over much of Yemen's Red…
- Market Flux Event
US Diesel Prices Hit Record $6 a Gallon as Ukraine and Iran Wars Squeeze Fuel Supply
The national average retail price of diesel fuel in the United States crossed $6 per gallon for the first time ever on Thursday, September 11, driven by a supply crunch linked to two…
- Market Flux Event
US Average Diesel Price Tops $6 a Gallon for the First Time Ever as Iran War Disrupts Fuel Supplies
The national average price of diesel fuel in the United States crossed $6 a gallon for the first time on record, according to GasBuddy, which tracks retail fuel prices in real time. The…
- Market Flux Event
Brent Surges Past $109 After Yemen Strike on Saudi Pipeline as Oil Posts Biggest Single-Day Spike in Months
Oil prices surged to their highest levels in months on Thursday, September 10, as escalating Middle East tensions drove Brent crude above $109 a barrel and U.S. West Texas Intermediate past…
- Market Flux Event
TotalEnergies Pledges $10 Billion in Angola Over Five Years and Fast-Tracks Acacia-5 Discovery to First Oil
TotalEnergies and its partners plan to invest $10 billion in Angola's oil sector over the next five years, CEO Patrick Pouyanné announced at a conference in Luanda, with funding directed at…