Oil prices hold firm despite Persian Gulf supply growing
Persian Gulf oil flows pick-up There are few signs of de-escalation in the Middle East. If anything, it appears as though the conflict is broadening, with the Houthis in Yemen increasingly targeting...
View ArticleIEA accelerates oil stock release, plans over 20 mil barrels of diesel
International Energy Agency members will accelerate the release of emergency oil stocks, including more than 20 million barrels of diesel, as tight supplies continue to strain global fuel markets. The...
View ArticleCrude oil inventories show significant decline, surpassing expectations
The Energy Information Administration (EIA) released its latest data on crude oil inventories, revealing a substantial decrease in the number of barrels held by U.S. firms. The actual inventory change...
View ArticleEU leaders demand joint action to tackle soaring energy prices
EU leaders are pressing Brussels for coordinated measures to ease soaring energy costs, bolster fuel supplies and support struggling industries, as the crisis strains national budgets and tests the...
View ArticleIraq transfers 4 Kirkuk oilfields to BP-linked operator, targets 450,000 bpd...
Iraq has transferred operational management of four oilfields in Kirkuk province of northern Iraq to a joint operating entity with British energy major BP, as part of plans to increase crude production...
View ArticleOil prices on track for weekly gain amid Middle East supply worries
Oil prices fell on Friday, but stayed on pace for a weekly gain, as concerns swirled around Middle East supply flows and a bigger-than-expected draw from U.S. inventories. Benchmark slid by 0.6% to...
View ArticleThe Commodities Feed: Oil holds firm as Middle East breakthrough remains elusive
Energy – IEA member to release remaining oil Oil remains well-supported. A pattern has set in: prices slide early in the session, then claw back most of those losses by the close. As a result, ICE...
View ArticleGuyana’s Uaru Gold crude to debut as fourth medium-sweet grade
Guyana’s Uaru Gold crude, expected to hit the market in December, will be another medium-sweet grade with a quality most similar to that of Guyana’s flagship Liza crude. Uaru Gold will have an API of...
View ArticleAsian refiners face margin squeeze from record tanker costs
The cost of shipping oil in supertankers has reached record highs, putting pressure on profit margins for Asian oil refiners who rely heavily on Middle Eastern crude, the International Energy Agency...
View ArticleEU may need to cut winter gas demand by 7% with gas storage at a record...
Geopolitics, high gas prices and the risk of cold weather are compounding the strain on Europe’s energy sector. Low levels of gas in storage leave the EU with less of a buffer against liquefied natural...
View ArticleUS Gulf Coast gas infrastructure may struggle to keep pace with LNG, power...
Midstream companies are advancing new storage and pipeline projects along the Gulf Coast as a wave of LNG and power developments drives expectations for sharply higher natural gas demand over the...
View ArticleEuropean Gas Prices Hover Near Peaks
European natural gas prices eased to €85.5 per megawatt-hour, hovering just below a multi-year high, as investors anxiously weigh the bloc’s supply outlook ahead of the heating season. EU gas storage...
View ArticleUS oil production starts to respond to higher prices
“No plan survives first contact with the enemy.” That military maxim, adapted from the writings of the Prussian general Helmuth von Moltke the Elder, could be usefully applied to a lot of the thinking...
View ArticleIEA to complete release of 100M barrels
In yesterday’s meeting, the IEA Governing Board reiterated its commitment to international energy security. The IEA Governing Board noted the IEA Secretariat’s most recent assessments, which point to...
View ArticleCompleting electrification project at Troll
The partial electrification of Troll B and Troll C has reduced emissions by around 330,000 tonnes of CO₂ per year. The Troll field continues to deliver high and stable production of oil and gas to...
View ArticleIran-backed Houthis strike Saudi oil company Aramco’s headquarters, officials...
Iran-backed Houthi rebels hit the headquarters of the Saudi state-owned oil company Aramco in an overnight strike, two regional officials said Wednesday, damaging the offices of the firm’s chief...
View ArticleOil prices sink on report of easing U.S. sanctions; IEA release plans in focus
Oil prices fell sharply on Thursday after a report showed the U.S. considering easing sanctions on oil shadow fleets. Focus was also on an upcoming meeting of the International Energy Agency on...
View ArticleGlobal gas demand will not peak before 2035, says GlobalData
Global natural gas demand will keep growing through 2035 in every scenario, rising by almost a fifth as power generation absorbs half of the increase. The LNG glut the market expected for 2026 will...
View ArticleCrude Oil Inventories Plunge, Surpassing Expectations
The American Petroleum Institute (API) has reported a significant drop in U.S. crude oil inventories, marking a notable event in the energy sector. The latest data reveals that crude stocks have...
View ArticleEU faces gas shortfall of up to 15% if severe winter hits, report warns
The EU is entering the winter season on thin ice, facing a double-edged geopolitical squeeze that threatens to expose the fragility of its post-Russian energy architecture. Europe could face a gas...
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