Freeport LNG's export plant in Texas was on track to take in more natural gas on Friday after one of three liquefaction trains shut on Thursday, according to a company report and data from financial firm LSEG. Freeport is one of the world's most closely watched liquefied natural gas export plants because the shutdown and startup of the facility previously caused massive price swings in global gas markets. When Freeport shuts, U.S. gas prices usually drop because the plant's demand for the fuel [Read more]
News
Hormuz tanker crossings slip to lowest in more than two months, data shows
The number of tankers crossing the Strait of Hormuz fell to just one on Thursday, the lowest level since May 7, according to shiptracking data, amid ongoing shipping risks in the Middle East and as oil prices surged back to $100 a barrel. Only one tanker crossed the Strait of Hormuz on July 23, compared with three the day earlier, data from analytics firm Kpler showed. Very large crude carrier New Giant, loaded with 2 million barrels of Iraqi Basrah crude, exited the strait on Thursday and [Read more]
US strikes Iran from south to north after Trump threats over Red Sea shipping
U.S. missiles struck targets across Iran, reaching as far as its Caspian coast, on Friday after President Donald Trump vowed "major military punishment" for Tehran and its Houthi allies in Yemen for extending the Middle East war to a second major shipping chokepoint, the mouth of the Red Sea. Two weeks after the collapse of an interim truce meant to end the war, the Iranian armed forces responded by firing at U.S. bases in neighbouring Arab countries and warning people there that they may strike [Read more]
Middle East crude premiums surge, Asian refiners seeking alternatives
Spot premiums for Middle Eastern crude benchmarks hit their highest in two months as attacks on two tankers in the Red Sea triggered a rerouting of some Saudi oil shipments via a route that circles Africa, further disrupting supply flows. The attacks in the Red Sea by Yemen's Iran-aligned Houthis came after renewed U.S. and Iran strikes in the Middle East and shipping blockades on traffic through the Strait of Hormuz again choked oil shipments through that crucial waterway, slowing crude oil [Read more]
Oil products tanker re-routes voyage to Asia through Suez amid Houthi warnings, owner Torm says
Danish-flagged oil products tanker Torm Innovation will sail to Asia via the Suez Canal with its cargo due to the security situation in the southern Red Sea, the vessel’s owner Torm said on Friday. The Iran-aligned Houthis on Monday declared a naval blockade against Saudi Arabia, opening a potential new front against the United States in its war with Iran and raising the threat to global energy supplies and trade beyond the Gulf. "Given the security situation in the southern part of the Red [Read more]
Top US oilfield services firm SLB beats quarterly profit estimates
SLB beat expectations for second-quarter profit on Friday, as resilient demand across key markets helped the top U.S. oilfield services firm ride out weakness in the Middle East due to the Iran war, sending its shares up 2% before the bell. Frequent flare-ups in the war, now in its fifth month, have kept a crucial oil-producing region on edge, with Iran now seeking to shut the Bab el-Mandeb gateway to the Red Sea after choking off shipping through the Strait of Hormuz. The Middle East is [Read more]
Trump vows to punish Iran and Houthis for attacks in Red Sea
U.S. President Donald Trump promised "major military punishment" for Iran and its Houthi allies after the Yemeni fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East war to a second major shipping chokepoint. Fears that disruption could widen to block another sea route sent global oil prices surging in one of the steepest rises of the war. Brent crude rose more than 6%, piercing the level of $100 a barrel for the first time since May. Two weeks since the [Read more]
Oil set for weekly rise amid Red Sea shipping attacks, Kazakhstan output cuts
Oil headed for weekly gains on Friday, as Houthi attacks on tankers in the Red Sea sparked worries about the closure of a second shipping chokepoint, while Kazakhstan temporarily cut output after its main export route was forced to shut. Brent futures eased 72 cents, or 0.72%, to $99.97 a barrel as of 0126 GMT, but remained on course for a 13.5% advance this week. West Texas Intermediate (WTI) futures fell 70 cents, or 0.76%, to $91.49 a barrel, on track for a 10.9% weekly rise. Brent had [Read more]
Headwater Exploration Inc. announces second quarter operating and financial results and declares quarterly dividend
CALGARY, AB, July 23, 2026 /CNW/ -- Headwater Exploration Inc. (the "Company" or "Headwater") (TSX: HWX) is pleased to announce its operating and financial results for the three and six months ended June 30, 2026. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management's discussion and analysis ("MD&A"). These filings will be available at [Read more]
Ovintiv Reports Second Quarter 2026 Financial and Operating Results
Increasing Share Buybacks; Full Year Production Guidance Raised; Capital Guidance Unchanged Highlights: Generated second quarter cash from operating activities of $1.6 billion, Non-GAAP Cash Flow of approximately $1.3 billion and Non-GAAP Free Cash Flow of $682 million after capital expenditures of $574 million Produced average second quarter volumes of 615 thousand barrels of oil equivalent per day ("MBOE/d"), including oil and condensate volumes of 206 thousand barrels per day [Read more]
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