Oil & Gas Industry News

Oil fell for a fourth straight session as a US-Iran deal to reopen the Strait of Hormuz improved expectations for increased crude supply.

The U.S. Energy Information Administration raised its Henry Hub spot price forecasts for 2026 and 2027 in its latest short term energy outlook.

Oil prices plunged after the US and Iran agreed to an interim deal aimed at reopening the Strait of Hormuz.

Oil prices fell sharply as hopes grew for a Hormuz reopening agreement between the US and Iran.

Oil fell sharply after Trump signaled progress toward a potential peace deal with Iran.

Rystad Energy estimated that if U.S.-Iran 'hostilities were to resume in earnest', oil prices could 'move towards $150 per barrel'.

The U.S. military launched strikes against 'multiple' targets in Iran for the second straight day.

Oil prices rose after Trump warned Iran of further US attacks.

A tanker that has previously carried Iranian oil suffered a fire in the Gulf of Oman, maritime security companies and local navies said.

The number of oil tankers crossing Egypt's Suez Canal surged by almost a third in April and drove revenue to the highest since early 2024.

'Cumulative losses have now reached one billion barrels and are on track to nearly double by year-end under our base case', Rystad Energy MENA Research Director Aditya Saraswat said.

Crude markets swung lower despite ongoing supply disruptions.

Kuwait is offering to sell its crude to refiners in Asia for the first time since the Iran war started.

New BP Plc Chief Executive Officer Meg O'Neill reorganized the energy giant's leadership and reporting structures.

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

Wood Mackenzie 'found no consensus' on when the Gulf 'crisis' will be 'resolved' at its latest annual gas and LNG conference held in London recently, a statement sent to Rigzone by the company revealed.

Oil gave back most of Monday's gains today, Saxo Bank highlighted.

The world's shipowners have placed orders for a record number of new oil supertankers.

Two extremes are currently playing out in the Permian Basin.

Oil price rise was stunted as Israel and Iran signaled they may avoid further escalation.