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Goldman Sachs on Tuesday flagged both upside and downside risks to its average 2026 crude forecasts for Brent/WTI at $83/78 per barrel, citing growing uncertainty around Middle East developments and oil flows through the Strait of Hormuz. * Reduced flows through Hormuz pose the biggest upside risk to Goldman's price forecasts, with estimated oil flows through the strait still at 10% of normal or 2.1 million barrels per day (bpd), they said. * The United States Navy on Monday had begun a [Read more]

Global investors and the International Monetary Fund seem to agree the Iran war is likely over - bar the shouting. The energy market is less sure, and there could be an awful lot of shouting, but many asset prices have returned to square one, and markets now see the conflict's impact only at the margins. The IMF's unenviable task of forecasting global economic growth during a Middle East war and energy shock left as many questions as answers, and a plethora of different scenarios. Take your [Read more]

Oil prices were mixed on Wednesday with Brent futures up and U.S. futures down amid uncertainty over crude supply from the key Middle East producing region as the Strait of Hormuz remains mainly shut. Brent crude futures were up 40 cents, or 0.4%, to $95.19 a barrel at 0420 GMT, paring earlier losses of as much as 0.9%, after falling 4.6% in the previous session. U.S. West Texas Intermediate crude was down 23 cents, or 0.3%, to $91.05. The contract earlier fell as much as 4.7% after dropping [Read more]

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Apr. 13 Owner Operators / Fluid Hauling SORE Oilfield Services Lloydminster Apr. 12 HEALTH, SAFETY & ENVIRONMENT (HSE) ANALYST – (CAT) Trican Well Service [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Tuesday. WCS for May delivery in Hardisty, Alberta, settled at $16.50 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $16.25 on Monday. * The WCS differential has been volatile since the start of the U.S. war on Iran, with competing variables pulling and pushing on relative prices for Canadian heavy crude. * Analysts have said planned [Read more]

U.S. electric utilities expect to spend $1.4 trillion on power lines and other infrastructure-related costs over the next five years, raising concerns about rising power bills ahead for American homes and businesses, according to research released on Tuesday. * Utilities' five-year capital expenditure plans rose 20% from last year's reported plans, said PowerLines, a nonprofit that advocates for utility reform, which authored the report. * Regulated electric utilities can recover capital [Read more]

The Trump administration will allow a 30-day waiver of sanctions on Iranian oil at sea to expire later this week, two administration officials told Reuters on Tuesday, as the U.S. imposes a blockade on shipments from Iranian ports. The move signals that "Treasury is going full force on Economic Fury," on Iran, an apparent reference to Operation Epic Fury, the U.S.-led military campaign against the country, one of the officials said. The Trump administration has long said it is applying [Read more]

U.S. Treasury Secretary Scott Bessent on Tuesday said China had been an unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of some goods, mirroring its actions with medical goods during the COVID-19 pandemic. Bessent told reporters he had spoken with Chinese officials about the issue. He dodged a question about whether the dispute would derail U.S. President Donald Trump's plan to visit Beijing in mid-May, but said Trump and Chinese President Xi [Read more]