By: Stephen Cunningham – Rystad Energy – Private equity is finally seeing some upside from shale investments, after treading water for the...
By: Michael Lynch – Forbes – Production of oil and gas from shale has been a modern marvel, and one that has...
By: Robert Tuttle – Bloomberg – Maine became the first U.S. state to enact a law requiring divestment from fossil fuels, after...
By: Jack Money – The Oklahoman – An oil and gas company claims in a lawsuit filed last week that a representative...
By: Amy R. Sisk – The Bismark Tribune – North Dakota has ranked as the nation’s second-biggest oil producer for nine years,...
By: Ron Bousso, Jessica Resnick-Ault, David French – Reuters – The sale could be for part or all of Shell’s position in...
By: Joshua Mann – Houston Business Journal – Houston-based Occidental Petroleum Corp. (NYSE: OCY) is continuing its divestment campaign with a new...
By: Erika Stanish – FOX25 – The Oklahoma State Treasurer announced the state’s economy is “rapidly emerging” from the COVID-19 pandemic. Oklahoma...
By: Jack Money – The Oklahoman – A guilty plea in federal court submitted by a former Continental Resources employee is related...
By: Alex Lawler – Reuters – Oil jumped to a two-year high above $72 a barrel on Monday, extending this year’s rally...
(Reuters) - Oil prices rose more than 4% on Wednesday, to their highest in more than two months, after sources said the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the Middle East.
Brent crude futures settled $2.90, or 4.34%, higher to $69.77 a barrel. U.S. West Texas Intermediate crude gained $3.17, or 4.88%, to $68.15. Both Brent and WTI reached their highest since early April.
Surprised traders bought crude futures on reports that the U.S. was preparing to evacuate its embassy in Iraq, OPEC's No. 2 crude producer after Saudi Arabia. A U.S. official said military dependents could also leave Bahrain. "The market wasn't expecting this big geopolitical risk," said Phil Flynn, analyst at Price Futures Group.
Earlier, Iran's Minister of Defense Aziz Nasirzadeh Tehran will strike U.S. bases in the region if nuclear talks fail and conflict arises with Washington.
Trump said he was less confident that Iran would agree to stop uranium enrichment in a nuclear deal with Washington, according to an interview released on Wednesday. Ongoing tension with Iran means its oil supplies are likely to remain curtailed by sanctions.
Supplies will still increase, as OPEC+ plans to boost oil production by 411,000 barrels per day in July as it looks to unwind production cuts for a fourth straight month.
"Greater oil demand within OPEC+ economies – most notably Saudi Arabia – could offset additional supply from the group over the coming months and support oil prices," said Capital Economics' analyst Hamad Hussain in a note.
News of a trade deal between the U.S. and China, which could boost energy demand in the world's two biggest economies, also kept prices elevated.
The Dow Jones Industrial Average finished flat on Wednesday, while the S&P 500 and Nasdaq closed lower for the first time in four sessions, as traders assessed a Wall Street Journal report that indicated China has the upper hand in trade talks with the U.S.
Stocks closed lower despite a surprisingly muted consumer-price index for May and a solid $39 billion 10-year Treasury auction.
The Dow Jones Industrial Average finished little changed at around 42,866 after swinging between gains and losses earlier in the day, based on preliminary data.
The S&P 500 dropped almost 0.3% to end at roughly 6,022.
The Nasdaq Composite declined 0.5% to close at almost 19,616.
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
Have your oil & gas questions answered by industry experts.