Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 6.1 million barrels to 298.7 million barrels last week, the lowest level since January 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. (Reporting by Arathy Somasekhar in Houston) [Read more]
Headlines
US natgas prices climb 4% as LNG export flows hit one-month high
U.S. natural gas futures climbed about 4% to a one-week high on Monday as daily flows to liquefied natural gas (LNG) export plants rose to a one-month high. Front-month gas futures for September delivery on the New York Mercantile Exchange (NYMEX) rose 9.5 cents, or 3.6%, to $2.757 per million British thermal units (mmBtu), putting the contract on track for its highest close since August 3. With futures down about 18% over the past seven weeks, speculators last week boosted their net short [Read more]
China is balancing Asia’s crude oil demand by itself: Russell
China is singlehandedly doing the heavy lifting of cutting crude oil demand in Asia to compensate for reduced shipments from the Middle East as a result of the Iran war. The world's biggest oil importer reported arrivals of 8.41 million barrels per day (bpd) in July, up from the near decade low of 7.12 million in June but still 24.3% below July last year. If June and July imports are combined, it gives an average of 7.78 million bpd for the past two months. This is 4.21 million bpd below [Read more]
Rubellite Energy Corp. reports second quarter 2026 financial and operating results, and provides operations and 2026 guidance update
CALGARY, AB, Aug. 10, 2026 /CNW/ -- Rubellite Energy Corp. ("Rubellite" or the "Company"), is pleased to report its second quarter 2026 financial and operating results and provide an operations and 2026 guidance update. Select financial and operational information is outlined below and should be read in conjunction with Rubellite's unaudited condensed consolidated interim financial statements and related Management's Discussion and Analysis ("MD&A") for the three and six [Read more]
New ConocoPhillips CEO inherits $7 billion cash flow pledge riding on Alaska oil project
Andy O'Brien will succeed longtime ConocoPhillips CEO Ryan Lance next month and will inherit a major Alaska oil project to complete, costs to control and a share price that has recently lagged peers, analysts and investors said. The largest independent oil exploration and production company in the U.S. announced the succession plan on Thursday alongside its biggest quarterly net income since 2022, lifted by higher crude prices due to the Iran war. O'Brien, currently chief financial officer and a [Read more]
Iran ties Hormuz reopening to US concessions on several demands
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic waterway is reopened. The strait, through which about a fifth of global oil and liquefied natural gas flowed prior to the conflict, has been effectively blocked since the U.S.-Israel attacks on Iran on February 28, pushing up oil [Read more]
Oil rises on uncertainty over reopening of Hormuz
Oil prices rose on Monday on uncertainty over the reopening of the Strait of Hormuz anytime soon, as Iran said a deal with Oman defining new shipping lanes was in its final stages but insisted the U.S. must still meet other conditions. Brent crude futures rose 91 cents or 1.09%, to $84.46 a barrel by 0056 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.78% to $78.79 a barrel. Both benchmarks had fallen more than 7% last week on hopes that Iran and Oman were close [Read more]
Suddenly the Strait of Hormuz is ‘irrelevant’ to the US
A look at the day ahead in European and global markets from Wayne Cole. Asian stocks are mostly firmer, following Friday's Wall Street rally, though European share futures are off as oil rises amid much confusion over the Strait of Hormuz. Treasury Secretary Scott Bessent over the weekend claimed the strait would become "irrelevant" as oil would eventually be redirected through pipelines, giving analysts the impression the White House was trying to wash its hands of the whole affair. Iran [Read more]
Iran says Oman deal is in ‘final stages’ but US must act to open Hormuz
Iran said on Sunday that a deal with Oman defining new shipping lanes in the Strait of Hormuz was in its final stages but reiterated that the strait would only reopen once the United States met other conditions. A U.S. official told Reuters on Friday that an agreement between Iran and Oman was close and could soon reopen the waterway, which carried a fifth of global oil and liquefied natural gas shipments before Iran blocked it in response to U.S. and Israeli attacks. Iranian Foreign Minister [Read more]
Iran says deal on Strait of Hormuz is close but will not open the waterway by itself
Iran said on Saturday that a deal with Oman on control of the Strait of Hormuz was close but would not be enough to free up the waterway, and the United Arab Emirates said Iran had hit another ship there. A U.S. official, who declined to be identified, said on Friday that Washington anticipated an agreement soon between Iran and Oman, which sit on either side of the strait, so that normal oil traffic could resume. Agreement between the two countries over control of the strategic waterway is [Read more]
- « Previous Page
- 1
- …
- 61
- 62
- 63
- 64
- 65
- …
- 3866
- Next Page »