Saudi Arabia's air defences intercepted and destroyed drones launched from Iraq that attempted to target oil facilities in the kingdom's Eastern Province and Riyadh, the Saudi Defence Ministry said on Monday. The ministry said the drones were launched by Iran-backed armed groups in Iraq. Saudi Arabia's Foreign Ministry condemned the attack against the kingdom, reaffirming its right to respond to the sources of "the aggression" and deter those responsible. The ministry called on the Iraqi [Read more]
Archives for July 27, 2026
Crude oil futures are pricing market adaptability, not hopeful Iran peace: Russell
One of the debates since the start of the Iran war has been whether crude oil futures are accurately reflecting the stresses in physical markets for both oil and refined products, or if they are blindly optimistic that peace is around the corner. The Iran war between the United States and Iran continues along its volatile and unpredictable path, with renewed hope that a fresh pause in the mutual strikes is possible. That flicker of optimism was enough to lead global benchmark Brent futures [Read more]
Expand Energy to beef up gas marketing business with $1.25 billion Twin Eagle deal
Expand Energy said on Monday it would buy privately held natural gas marketer Twin Eagle Holdings from Five Point Infrastructure for $1.25 billion to expand its marketing business across North America. With U.S. natural gas demand expected to grow, producers are increasingly expanding into marketing and logistics businesses to improve margins and gain greater control over how gas reaches end-users. Founded in 2010, Twin Eagle is an independent natural gas and power marketer, with operations [Read more]
Saturn Oil & Gas Inc. Announces Completion of the Offer for the Common Shares of Burgess Creek Exploration Inc. and Mandatory Extension Period to August 6, 2026
Calgary, Alberta--(Newsfile Corp. - July 27, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, is pleased to announce that our offer (the "Offer") to acquire all of the issued and outstanding common shares (the "Common Shares") of Burgess Creek Exploration Inc. ("Burgess Creek"), a privately held, 97% light oil and liquids weighted [Read more]
Ukraine’s attacks on Russian energy sites — what has been hit?
Ukrainian forces are striking Russia's energy infrastructure in what Kyiv says is an effort to deprive Russia of resources to fund its military. Following is a summary of the attacks — starting with the most recent — and their impact: TYUMEN A Ukrainian drone strike sparked a fire at the Tyumen refinery in western Siberia, more than 2,000 km (1,200 miles) from Ukraine, but the blaze was later extinguished, local Russian authorities said on July 25. The refinery has a nominal capacity of [Read more]
Europe faces a long, cold winter as fuel buffers dwindle: Bousso
Europe is heading into winter with alarmingly fragile energy supplies as the conflicts in the Middle East and Russia tighten global markets for liquefied natural gas and heating oil, pushing inventories to dangerously low levels. Natural gas and heating oil are Europe's primary sources of residential heating, with gas accounting for around 30% of household heating demand and oil accounting for roughly 10%, according to official data. After successive years of energy shocks, Europe looks set [Read more]
Iran says it still controls strait, not seeking talks, after Trump halts bombing
Iran said on Monday it was still in control of the Strait of Hormuz and not seeking to resume peace talks with the United States, after President Donald Trump halted a two-week bombing campaign that his top brass told him had run its course. Following 13 successive nights of intensifying bombing that provoked Tehran to fire on U.S. bases in response, Trump halted the campaign over the weekend. Iran said it would pause its own attacks for as long as the U.S. pause in bombing endures. Trump's [Read more]