Oil & Gas Industry News

Oil settled higher as escalating Middle East tensions fueled supply concerns despite diplomatic efforts.

The U.S. Energy Information Administration edged up its U.S. total energy consumption projections for 2026 and 2027 in its latest short term energy outlook.

The Houthis, an Iran-backed Yemeni group, said they would impose a maritime blockade on Saudi Arabia.

'Continued attacks or tighter passage through the Strait of Hormuz could keep Brent supported above $90 and increase the risk of a move toward $100 per barrel', Naeem Aslam, CIO at Zaye Capital Markets, warned.

Amundi wants the EU to free asset managers to add oil and gas exposures to a new fund category intended to support the transition to a lower-carbon economy.

Companies including Obsidian Energy Ltd. and Yangarra Resources Corp. are breathing new life into a long-dormant gas reservoir - except now they're drilling for oil.

Traders boosted bullish oil bets as geopolitical tensions increased risks to global energy and fuel markets.

Within days of taking office incoming Prime Minister Andy Burnham is preparing to announce new drilling for oil and gas in the North Sea.

Rystad Energy revealed that it has revised its U.S.-Iran scenario framework 'following a renewed deterioration in security conditions around the Strait of Hormuz'.

Traders balanced profit-taking against ongoing concerns over disruptions to oil flows through Hormuz.