Oil & Gas Industry News

Japanese refiners have stepped up purchases of Middle Eastern oil.

Crude futures fell as Saudi and Libyan supply disruptions showed signs of easing.

The EIA predicted a bigger oil market crunch in 2026 and a bigger oil glut in 2027 in its latest STEO, compared to its previous August STEO.

The U.S. is investigating potential cyberattacks on oil and gas tankers.

Gasoline prices jumped in every U.S. state 'with no relief in sight', GasBuddy warned.

Market expectations are shifting towards a prolonged U.S.-Iran conflict, Standard Chartered Bank Energy Research Head Emily Ashford warned.

Brent neared $109 as pipeline and oil field disruptions tightened supplies.

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

There is a key question about how far we are from 'tank bottom', analysts at HSBC said.

The East-West Pipeline was subjected to multiple attacks and subsequently shut down, a statement posted on the official X page of Saudi Arabia's Ministry of Energy revealed.

Veteran commodities strategist Jeff Currie said average US gasoline prices will almost certainly hit $5 a gallon before the midterm elections.

Crude gained as the Saudi East-West pipeline closure heightened fears of tighter global supplies.

Venezuela is deploying officials to a Group of 20 summit of energy chiefs in Texas this week.

The U.S. Energy Information Administration revealed in its latest short term energy outlook that it sees the 2026 Brent spot price averaging $91.01 per barrel this year.

Brent crude spiked to $108.49 per barrel at the Asian opening, Saxo Bank highlighted.

TotalEnergies SE and its partners plan to invest $10 billion in Angola's oil sector over the next five years.

Oil posted a strong weekly gain as Middle East conflict and mounting supply risks kept markets on edge.

The International Energy Agency cut forecasts for oil demand this year and warned consumption may decline further in the coming months.

What if the assumptions embedded in the oil curve are wrong - J.P. Morgan analysts, including Natasha Kaneva, J.P. Morgan's Head of Global Commodities Strategy, ask.

Brent surged more than 6% to $107.63 as escalating Middle East tensions heightened global supply concerns.