Morgan Stanley raised its near-term Brent forecasts, saying that the geopolitical risk premium is likely to persist for a period, but added that it still expects prices to soften to $60 per barrel later this year. The bank now sees Brent at $62.5/bbl in the second quarter of this year, compared with $57.5/bbl previously. It also raised its third-quarter forecast to $60/bbl from $57.5/bbl earlier. (Reporting by Anjana Anil in Bengaluru, Editing by Louise Heavens) [Read more]
News
Goldman Sachs raises 2026 Q4 Brent, WTI oil price outlook
Goldman Sachs raised its Brent and West Texas Intermediate (WTI) crude forecasts for the fourth quarter of 2026 by $6 each to $60 and $56 respectively, on lower-than-expected OECD stocks, even as it maintained its view of a 2026 surplus. The bank now assumes 2026 global inventory builds in the Organisation for Economic Co-operation and Development countries' commercial stocks will only come to 19%, versus 27% previously, and it therefore expects a subset of the Organisation of Petroleum [Read more]
US LNG export surge and soft China demand meet record European imports: Russell
Spot prices for liquefied natural gas (LNG) in Asia have drifted lower despite solid demand in the top-consuming region and record imports by Europe. Throw in tensions in the Middle East and the threat to shipments from Qatar, the second-biggest exporter behind the United States, and the relaxed spot price seems incongruous. Part of the disconnect is explained by robust growth in supply, especially from the United States, and also by muted demand for spot cargoes from China, the world's [Read more]
Trump tariff reversal could cut costs for US energy firms but will likely leave broader flows unchanged
The U.S. Supreme Court's Friday decision to strike down trade tariffs imposed by President Donald Trump last year may ease costs for some oil producers and drillers, but experts and analysts told Reuters that broader energy flows would likely remain unchanged for now. The court's ruling could reduce the cost of building LNG plants and other large-scale energy infrastructure that rely on modules and other parts manufactured in foreign countries hit by tariffs. Venture Global, for example, builds [Read more]
Parex Resources Announces Nomination of Six Directors to GeoPark’s Board
CALGARY, Alberta, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT), which has an approximate 11.8% ownership position in GeoPark Limited (“GeoPark”) (NYSE: GPRK), announced today that it has nominated six highly qualified director candidates for election to GeoPark’s Board of Directors (the “GeoPark Board”) at its upcoming 2026 Annual Meeting of Shareholders (the “Annual Meeting”). Each of the nominees is independent of both GeoPark and Parex under [Read more]
Berkshire-owned PacifiCorp pays $575 million to settle US government’s wildfire claims
PacifiCorp, a utility owned by Berkshire Hathaway,, agreed to pay $575 million to resolve U.S. government damages claims related to six wildfires in Oregon and California that burned nearly 290,000 acres of federal land, the U.S. Department of Justice said on Friday. The settlement resolves claims that PacifiCorp's electrical lines negligently started the fires. Five of the fires - Archie Creek, Echo Mountain Complex, Slater, South Obenchain and 242 - began during Labor Day weekend in 2020 [Read more]
Canada broke all-time production level for natgas in November, CER says
Canada broke an all-time production level for natural gas in November 2025, surpassing 20 billion cubic feet per day (bcf/d) for the first time, data from the Canada Energy Regulator (CER) showed on Friday. National production reached about 20.04 bcf/d in November, according to CER data. The CER said long-running growth trends and new developments across Western Canada were driving the increase, including expanding liquids-rich gas drilling in British Columbia, strong Alberta production, [Read more]
ConocoPhillips considers selling Permian assets worth $2 billion, Bloomberg News reports
ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, Bloomberg News reported on Friday, citing people familiar with the matter. The assets, picked up over the years through deals with Concho Resources and Shell, are expected to fetch about $2 billion, the report added. ConocoPhillips is working with advisers to seek a buyer, with interest expected from strategic as well as private equity suitors, the people [Read more]
US lawmakers plan Iran war powers vote as Trump weighs strikes
The U.S. Congress could vote as soon as next week on whether to block President Donald Trump's ability to strike Iran without lawmakers' approval, as the U.S. military prepares for a potential serious conflict with Iran if diplomatic efforts fail. Members of Congress, including a few of Trump's fellow Republicans as well as Democrats, have tried - and failed - repeatedly to pass resolutions that would bar Trump from military action against foreign governments without lawmakers' [Read more]
US drillers keep oil and natgas rig count unchanged for second week in a row, says Baker Hughes
U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, held steady at 551 in the week to February 20, the same as last week. Despite this week's lack of rig movement, Baker Hughes said the total count was still down 41 rigs, or 7% below this time last year. Baker Hughes said oil rigs held [Read more]
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