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Chevron committed $7 billion over five years to Venezuelan joint ventures to double output to approximately 600,000 barrels daily. Following recent U.S.-Venezuela reserve agreements, the investment s…
US energy firms, including Chevron, signed multibillion-dollar deals with Venezuela to ramp up oil production following an agreement granting the US access to massive crude reserves. The deals aim to…
Frontline posted record Q2 2026 earnings driven by soaring tanker rates and geopolitical logistics disruptions around the Strait of Hormuz. Despite falling Chinese crude imports, severe fleet ineffic…
TotalEnergies CEO highlighted a divergence in energy markets, describing crude oil as bearish while refined products remain highly bullish due to shipping bottlenecks in the Strait of Hormuz and Ukra…
TotalEnergies CEO Patrick Pouyanne revealed Strait of Hormuz supertanker transit costs are only $10 per barrel, easing worst-case supply panic. Iraqi crude discounts offset freight premiums, demonstr…
Oil prices dipped over 1.5% as markets await fresh U.S. sanctions on Iran. Analysts expect the upcoming measures to further restrict global crude supplies, potentially reversing intraday losses follo…
Crude oil prices dropped nearly 2% as Brent fell to $92.63 and WTI slipped to $85.35. The pullback followed a surge in Strait of Hormuz shipping traffic and diminishing market responsiveness to escal…
Crude oil prices remain muted despite Middle East conflicts as weakening global demand and a massive 17.4-million-barrel U.S. inventory build limit upside. The IEA cut demand projections, while analy…
Crude oil prices dropped to a three-week low on Monday as geopolitical tensions eased after President Trump canceled a planned attack on Iran, opting for negotiations instead. The prospect of diploma…
Oil prices failed to spike as feared during Israel-Iran conflict due to falling Chinese demand, record US production, SPR releases, and Saudi rerouting via Yanbu port, defying $150+ predictions.
Technical analysis for Brent and WTI crude oil suggests downward momentum with established support levels. Brent trades at $92.67, while WTI faces resistance at $93.11 with support near $90.17 and $8…