Crude oil inventories in the United States saw an increase of 2.5 million barrels during the week ending July 31, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 407 million barrels, according to government data, which are now 6% below the five-year average...Continue Reading

Hormuz Bottleneck Pushes Indian Refiners Toward West African Grades | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 05, 2026, 9:30 AM CDT Several Indian refiners have recently bought crude from Oman and West Africa via tenders, trade sources told Reuters on Wednesday, as term...Continue Reading

Xodus Group will support environmental approvals for the next phases of Australia’s Northern Endeavour Decommissioning Program, including subsea well plugging and abandonment and removal of offshore infrastructure. SourceContinue Reading

Ukraine Calls for Faster Patriot Deliveries After Deadly Russian Missile Barrage | 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 – Aug 05, 2026, 9:00 AM CDT Russia...Continue Reading

EnerMech has secured a multi-year contract to provide topside process and shutdown services for a North Sea offshore operator, expanding its role in maintenance, asset integrity and operational support across the operator’s asset portfolio. SourceContinue Reading

AGR and THF Engineered Solutions have formed a strategic partnership to apply AI-powered well engineering technology that helps operators improve well planning, identify operational risks earlier and streamline engineering workflows. SourceContinue Reading

President Donald Trump said a shipping agreement for the Strait of Hormuz could be reached within days as U.S., Iranian and Omani officials work toward a temporary arrangement to reopen the critical oil transit route. SourceContinue Reading

Dozens of loaded Iranian oil tankers are idling near the country’s coast as a renewed U.S. naval blockade disrupts crude and petroleum-product exports, pushing Iranian floating storage higher amid weak demand from Chinese refiners. SourceContinue Reading

Iraq-Syria Pipeline to Bypass Hormuz Could Be Revived Within 3 Years | OilPrice.com Tsvetana Paraskova What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… More Info Related News By Tsvetana Paraskova – Aug 05, 2026, 8:30 AM CDT An...Continue Reading

Houthis Claim Ballistic Missile Hit on Saudi Oil Tanker in Red Sea | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 05, 2026, 7:30 AM CDT The Iran-aligned Houthi group in Yemen on Wednesday claimed a “precise hit” on a Saudi oil tanker in the...Continue Reading