Headlines

The U.S.-Iran agreement — the first signed by an American and an Iranian president since Iran's 1979 Islamic Revolution — is being hailed by its backers as the deal of the century. But for Tehran's adversaries across the Middle East — from Israel to Gulf states and factions in Lebanon — it looks more like the curse of the century: an accord that could leave Iran more secure, more legitimate and ultimately more influential. U.S. President Donald Trump and Iranian President Masoud Pezeshkian [Read more]

The top U.S. energy regulator ordered the country's electric grid operators on Thursday to reconsider rules for connecting very large energy users such as data centers, as demand from server warehouses strains power grids. Data centers are pushing U.S. electricity use to record highs and requiring more electricity in large swaths of the country than grids can supply, sending regulators scrambling to manage the demand. The Federal Energy Regulatory Commission draft "show cause" orders [Read more]

Bank of America said that a full reopening of the Strait of Hormuz could see Brent crude prices average $82 a barrel this year, compared with its previous forecast of $93 a barrel. The note dated Wednesday added that Brent would likely trade in the $70 to $80 range for most of the second half of this year. * On Thursday, oil prices fell to their lowest since the first trading day of the Iran war, as a U.S.-Iran interim deal to end the conflict, reopen the Strait of Hormuz and ease [Read more]

As operational complexity increases, Canadian oil and gas companies are turning to AI to support faster, more informed decisions in the field and across asset networks. The emphasis is on practical application - using AI to reduce unplanned downtime, improve execution consistency, and support frontline teams where work actually happens. Join IFS and industry leaders in Calgary for a focused lunch discussion on how AI is being applied in operational environments today. Seats are filling [Read more]

The blast was so powerful that the huge disc-shaped lid of an oil storage tank was launched into the sky over Moscow like a frisbee. Evading Russian air defences, Ukrainian drones struck an oil refinery in southeast Moscow on Thursday for the second time in three days, igniting a fierce blaze that spewed out clouds of black smoke. The attacks are part of a wider Ukrainian campaign to cripple the oil industry whose revenues finance Russia's war effort. But by striking with apparent [Read more]

Three Saudi-flagged supertankers with six million barrels of crude onboard sailed through the Strait of Hormuz hours after U.S. President Donald Trump signed a deal with Iran over an end to their war, ship tracking data showed on Thursday. Other tankers showed their positions sailing through the strait on public ship tracking on Thursday after weeks of ships concealing their voyages when crossing through the waterway. The sailings from Saudi ports were the biggest departures through the [Read more]

Oil prices fell in early trading on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil, resolving the largest energy supply disruption in history. Brent crude futures were down 89 cents, or 1.12%, at $78.66 a barrel as of 0005 GMT, and U.S. West Texas Intermediate fell 98 cents, or 1.28%, to $75.81 a barrel. The benchmarks resumed their decline, reversing gains made on Wednesday [Read more]