WTI crude spiked to $111.29 per barrel on Thursday, with Brent trading at $107.57, inverting the global benchmark structure as the market repriced accessible supply amid a prolonged disruption at the Strait of Hormuz. WTI rarely trades at a premium to Brent. Brent crude reflects seaborne crude and typically leads during global supply shocks, while...Continue Reading

Donbas Coal Deal Exposes Fragile Enforcement of Russia Sanctions | OilPrice.com Eurasianet Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… More Info Premium Content By Eurasianet – Apr 02, 2026, 11:00 AM CDT A Georgian firm plans to...Continue Reading

Constellation extends key offshore drilling contracts with Petrobras, adding $1.1 billion in backlog and securing long-term utilization for deepwater rigs in Brazil. SourceContinue Reading

INEOS Chairman Jim Ratcliffe supports proposed UK carbon tax cuts, warning of industrial decline and calling for increased domestic oil and gas development, including North Sea and shale resources. SourceContinue Reading

40% of Russia’s Baltic Oil Export Capacity Offline as Gasoline Ban Widens | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Apr 02, 2026, 10:30 AM CDT Russia is banning gasoline producers from exporting the fuel until July 31, expanding the current ban that applied only...Continue Reading

Tesla Disappoints With Q1 Deliveries Miss | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Apr 02, 2026, 10:00 AM CDT Tesla reported a disappointing first quarter, delivering 358,023 vehicles worldwide, falling short of Wall Street expectations of about 372,000, according to Bloomberg-compiled estimates and...Continue Reading

China Directs Private Refiners to Maintain Fuel Output Even At A Loss | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Apr 02, 2026, 9:30 AM CDT Chinese authorities have ordered private refiners to maintain high levels of gasoline and diesel supply, even at a loss,...Continue Reading

The Critical Commodities Caught in the Hormuz Blockade | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Apr 02, 2026, 9:00 AM CDT LPG shortages are hitting...Continue Reading

UK Hosts 36-Country Summit to Reopen Strait of Hormuz | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – Apr 02, 2026, 8:30 AM CDT The UK is hosting on Thursday a virtual meeting of senior officials from three dozen countries —...Continue Reading

Australia Considers Emergency Powers to Protect Domestic Gas Supply | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Apr 02, 2026, 7:30 AM CDT Australia’s government intends to consider using emergency...Continue Reading