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Phillips 66 is using artificial intelligence to predict outages within its refining systems, save on maintenance costs and increase crude processing, said Tandra Perkins, an executive vice president at the US refiner. * "I need my systems up more than they're down, being able to predict that obviously saves on maintenance costs," Perkins said on Friday while speaking at the Reuters Momentum AI conference in Austin, Texas. * The increased availability allows for more crude to be processed [Read more]

US Treasury yields set fresh multi-decade highs on Friday even as easing oil prices offered some relief, with traders still pricing in further Federal Reserve interest rate hikes. Stocks, meanwhile, were buoyed by continued enthusiasm for the AI trade. Oil prices fell about 1% as markets weighed the possibility of a truce between the US and Iran against concerns that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer. But the [Read more]

C$6.0 million of forecast before-tax royalty cash flow during the first 12 months, based on established production and two planned oil well reactivations CALGARY, Alberta, Sept. 25, 2026 (GLOBE NEWSWIRE) -- Atlas Energy Corp. ("Atlas" or the "Company") (TSXV: ATLE), a TSXV Sandbox issuer, is pleased to announce that on September 24, 2026, it completed the acquisition of a newly created gross overriding royalty (the "Royalty") on the working interest of Caledonian Midstream Corp., a privately [Read more]

BP studied a possible deal to buy Devon Energy's operations in South Texas, four sources familiar with the matter said, with one of the sources adding it has now backed away from such a move. After years of prioritizing investments in renewable energy, and leadership churn that included five chief executives since 2020, London-headquartered BP has reverted to a strategy that places its traditional oil and gas business at its heart. Since Meg O'Neill joined as CEO in April, BP has entered [Read more]

Washington's talk of a possible ban on diesel exports is widening the gap between US crude oil futures and the global Brent benchmark, a signal that markets expect US refiners to process less crude oil if their diesel output gets stuck at home. While that may bring some immediate relief to high domestic diesel prices, which this week hit a record $6.528 a gallon and stirred a political uproar, the bigger discount for domestic crude futures could be a double-edged omen: an indicator of higher [Read more]

Oil prices fell slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes. Brent was down 87 cents, or 0.82%, at $105.73 a barrel at 0212 GMT, while West Texas Intermediate (WTI) was down $1.56, or 1.65%, at $93.05 a barrel. The sluggish opening was a contrast to a week of volatility when oil prices rose to a one-week high on Thursday. Both contracts rose as much as 5%. Brent [Read more]

The Iran conflict has put a spotlight on the somewhat murky world of refined fuel trading as the world battles constrained supply and record-high prices. But it is AI that may bring the trading of diesel, gasoline and other products out of the shadows for good. While crude oil trading practices have been established for decades, attracting a wide range of market participants, the same cannot be said of refined products. These markets, especially in the top-consuming region of Asia, have [Read more]

Bond markets came under renewed pressure on Thursday with US 30-year bond yields hitting a more than 20-year high as rising oil prices reignited concerns about higher inflation and more Federal Reserve interest rate hikes. Oil prices climbed about 3% to a one-week high after a Houthi missile attack on Saudi Arabia revived fears of supply disruptions, but trade was volatile and prices came off session highs after reports the US and Iran discussed reopening the Strait of Hormuz. The [Read more]