China Draws Down Billion-Barrel Stockpile as Iran War Cuts Imports in Half | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – Jun 02, 2026, 5:00 PM CDT China’s crude oil imports plunged to 6.36 million barrels per day in May, down from 11.39 million bpd in...Continue Reading

Russia’s China Energy Lifeline Is Becoming a Noose | OilPrice.com Simon Watkins Simon Watkins is a former senior FX trader and salesman, financial journalist, and best-selling author. He was Head of Forex Institutional Sales and Trading for… More Info Premium Content By Simon Watkins – Jun 02, 2026, 4:00 PM CDT The Xi-Putin summit produced...Continue Reading

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.75 million barrels in the week ending May 29. In the week prior, US crude oil inventories fell by 2.8 million barrels. Analysts had expected a 3.6 million draw. Despite the sharp dropoff of the last several weeks, US...Continue Reading

Why India’s LNG Buying Surges Despite Costly Gas | OilPrice.com Natalia Katona Natalia Katona is a freelance commodity analyst, based in the United Arab Emirates. More Info Premium Content By Natalia Katona – Jun 02, 2026, 3:00 PM CDT India’s LNG demand is rising despite soaring prices as heat-driven power shortages turn gas from an...Continue Reading

Subsea7 has been awarded a contract by Murphy Exploration & Production Company to provide engineering, procurement, construction and installation services for the String Music development, a deepwater subsea tieback to the Delta House facility in the U.S. Gulf. SourceContinue Reading

Despite ongoing U.S.-Iran negotiations, commercial shipping traffic through the Strait of Hormuz remains sparse, highlighting continued uncertainty over when energy flows may begin returning to normal. SourceContinue Reading

Vitol has warned that Western governments are underestimating the severity of the global oil supply crunch caused by disruptions in the Strait of Hormuz, with the company estimating demand destruction has reached approximately 4 MMbpd worldwide. SourceContinue Reading

What Hormuz Is Teaching Traders About Utilities | OilPrice.com Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.  More Info Premium Content By Alex Kimani – Jun 02, 2026, 2:00 PM CDT The Strait of Hormuz crisis is exposing how electricity markets remain vulnerable to oil and gas price...Continue Reading

Commodity Markets Are Living on Borrowed Time | OilPrice.com City A.M CityAM.com is the online presence of City A.M., London’s first free daily business newspaper. Both platforms cover financial and business news as well as sport and… More Info Premium Content By City A.M – Jun 02, 2026, 1:00 PM CDT Governments and industry have softened...Continue Reading

New Shareholder Elliott Pushes for Sale of Australia’s Top Gold Miner | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jun 02, 2026, 12:30 PM CDT Hedge fund Elliott Investment Management, which has built up a stake in Australia’s biggest gold miner, Northern Star Resources Ltd,...Continue Reading