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Norway Averts Offshore Oil Strike, Securing Europe's Critical Energy Supplies
Norway’s oil industry and labor unions reached a wage agreement on Friday, June 5. The last-minute deal averted a strike involving more than 600 offshore...
ExxonMobil warns of $160 oil spike, citing critically low global inventories
ExxonMobil Senior Vice President Neil Chapman warned that crude prices could reach $150 to $160 per barrel. He told the Bernstein Strategic Decisions...
ExxonMobil warns of $160 oil spike, citing critically low global inventories
ExxonMobil Senior Vice President Neil Chapman warned that crude prices could reach $150 to $160 per barrel. Speaking at the Bernstein Strategic Decisions...
Exxon and Chevron warn of $160 oil, citing record inventory lows
ExxonMobil and Chevron executives warned on May 31, 2026, that global oil inventories have reached critically low levels. Brent crude prices could surge to...
U.S. and Iran Reach 60-Day Ceasefire, Reopening the Strait of Hormuz
The United States and Iran reached a preliminary agreement on Friday to extend their ceasefire for 60 days. This tentative deal awaits final approval from...
Petrobras and Pemex eye Gulf oil alliance, backed by presidential talks
Petrobras and Pemex are negotiating a partnership for deep-water oil exploration and production in the Gulf of Mexico. The collaboration also includes...
IEA predicts oil investment slump, driven by Strait of Hormuz closure
The International Energy Agency (IEA) expects global oil project investment to fall for a third consecutive year in 2026. Spending will drop below $500 billion...
Energy Stocks Sink, as Disputed Iran Reports Trigger 5% Oil Drop
Brent crude oil prices fell as much as 5.2% on Wednesday. This decline pressured energy sector stocks and major ETFs including VDE and XLE. Reports of a draft...
Fed’s Logan Warns of Global Energy Cuts Amid 13M Barrel Oil Shortfall
Dallas Fed President Lorie Logan warned Wednesday that the world must adapt to lower oil and gas consumption due to the Strait of Hormuz crisis. The disruption...
US Military Strikes Iranian Targets, Lifting Oil, Dampening Peace Hopes
Global oil markets rebounded Tuesday after the U.S. military struck Iranian missile sites and mine-laying boats. These defensive operations occurred near the...
Oil prices sink 7%, following progress on U.S.-Iran peace deal
Global crude oil prices tumbled nearly 7% on optimism regarding a potential U.S.-Iran peace agreement. Brent crude futures plunged to approximately $96.30 per...
Oil prices sink 4%, as US-Iran peace hopes ease supply fears
Oil prices fell over 4% on Monday. The decline pushed crude to a two-week low. Diplomatic signals suggest the United States and Iran are nearing a potential...
NextEra creates world's largest utility, targeting AI-driven power demand
NextEra Energy and Dominion Energy merged to create the world’s largest regulated utility. The combined entity holds an enterprise value of approximately $240...
Oil prices sink 6%, following potential U.S.-Iran deal to reopen Hormuz
Oil prices fell approximately 6% to two-week lows on Monday. Brent crude futures declined to around $97.69 a barrel. U.S. West Texas Intermediate (WTI) dropped...
Oil prices sink 6%, as U.S.-Iran peace deal nears
Oil prices marked their largest single-day drop in weeks on Monday. Prices fell approximately 6% to two-week lows. Brent crude futures declined to $97.69 a...
Saudi Aramco hits $14.9 billion downstream profit, signaling robust energy demand
Saudi Aramco reported strong performance for the first quarter of 2026. Total hydrocarbon production reached 12.614 million barrels of oil equivalent per day...
ExxonMobil Targets Six Venezuela Oil Fields, Reversing Historic 2007 Exit
ExxonMobil is negotiating production rights for up to six oil fields in Venezuela. The New York Times first reported the potential deal. This move marks a...
Devon Energy Launches Note Exchange Following $25 Billion Coterra Merger
Devon Energy Corporation (NYSE: DVN) filed pro forma financial statements on May 22, 2026. The filing follows its $25 billion all-stock merger with Coterra...
EU Projects High Energy Prices Through 2027, Citing Middle East Conflict
EU Economy Commissioner Valdis Dombrovskis and ECB President Christine Lagarde expect oil and gas prices to remain elevated until at least the end of 2027. The...
QatarEnergy and ExxonMobil partner with Egypt to export Cypriot gas
QatarEnergy and ExxonMobil signed a Memorandum of Understanding with the Egyptian government to develop offshore natural gas discoveries near Cyprus. The...