Oil & Gas Industry News

Crude futures posted their biggest three-day decline since 2020 as hopes for diplomacy with Iran reduced supply concerns.

North America added five rigs week on week, according to Baker Hughes' latest North America rotary rig count.

A bipartisan group of senators announced a deal Tuesday.

Oil prices dropped yesterday and today as the market rapidly stripped out its Iran war premium, Petros Pantzari, Chief Dealer at Monaxa, said.

Tributes have poured in for Sir Ian Wood following news that the Aberdeen-based businessman has passed away.

Oil prices plunged as the US paused strikes on Iran and supply concerns eased with resumed Kazakh exports.

'Price action...is telling a more nuanced story', J.P. Morgan analysts said.

'The immediate decline reflects a reduction in the geopolitical premium', Naeem Aslam, CIO at Zaye Capital Markets, said.

Spiking energy prices, more U.S. tariffs, and mushrooming spending on artificial intelligence are reawakening investors' inflation fears.

Crude declined after reports on US-Iran diplomacy and continued Red Sea oil flows reduced immediate supply concerns.