Mar 2market
Oil surges 8% as futures markets digest US-Israel strikes on Iran
WTI jumped to $72.57 and Brent hit $79.41 when futures opened Sunday, as banks warn crude could spike past $100 on Strait of Hormuz disruption fears.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Mar 2oil
Tanker traffic through Strait of Hormuz drops 70% after Iran strikes
Ship tracking data shows a 70% plunge in vessel traffic through the Strait of Hormuz as tanker owners suspend shipments and Iran sends mixed signals.
Mar 1opec
OPEC+ approves bigger-than-expected April output hike as Iran conflict escalates
OPEC+ agreed to add 206,000 barrels a day in April, beating analyst forecasts, as US-Israeli strikes on Iran and Strait of Hormuz tensions roil markets.
Feb 25gas
One year without US gas: China's LNG imports hit lowest since 2018
China's LNG imports are set to hit the lowest level since April 2018 as the tariff standoff with Washington enters its second year, reshaping global gas flows.
Feb 24oil
Chevron steps in as Lukoil exits Iraq's giant West Qurna 2 oilfield
Chevron signed preliminary deals to take over the 400,000 bpd West Qurna 2 field from Russia's Lukoil, which declared force majeure under US sanctions.
Feb 23analysis
Oil could hit $100 if US goes to war with Iran, Fesharaki warns
FGE NexantECA's Fereidun Fesharaki told Bloomberg that $90-$100 oil is within reach, warning that war between the US and Iran looks unavoidable.
Feb 23market
Goldman Sachs lifts oil forecast by $6 on tight OECD inventories
Goldman raised its Q4 2026 Brent forecast to $60 and WTI to $56 per barrel, citing lower-than-expected OECD stock levels despite a projected surplus.
Feb 22gas
Shell advances Dragon gas project as US eases Venezuela sanctions
Shell is pushing forward with the Dragon offshore gas field in Venezuela after Washington issued new licenses, aiming to boost LNG supply from Trinidad.
Feb 19market
US drillers add rigs for third straight week, highest since November
Baker Hughes data shows the US oil and gas rig count rose by five to 551, the most active since November, led by a seven-rig jump in the Haynesville.
Feb 19oil
Oil surges 4% after Vance says military strikes on Iran on table
Brent crude jumped above $71 and WTI crossed $66 after VP Vance said Iran failed to meet US demands and President Trump reserves the right to use force.
Feb 17gas
Europe's gas storage drops to lowest level since 2022 crisis
EU gas reserves have fallen to 35% capacity, the lowest seasonal level in four years, as a cold winter and Russian supply cuts drain inventories.