The Strait of Hormuz may be one of the most strategically sensitive energy corridors in the world, but the oil market isn’t blinking, yet, with Eni CEO Claudio Descalzi predicting Iran will not be able to afford this option.  Brent’s muted response at around $77 per barrel on Wednesday, signals that traders see the odds...Continue Reading

Crude oil inventories in the United States fell by 11.5 million barrels during the week ending June 13, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 420.9 million barrels, roughly 10% below the five-year average for this time of year. Crude prices were...Continue Reading

Norway’s State-Owned Utility Announces Sweeping Cost Cuts | OilPrice.com Related News By Michael Klare – Jun 18, 2025, 9:30 AM CDT Norwegian state-owned utility Statkraft announced plans on Wednesday to slash annual costs by 2.9 billion NOK ($292 million) by 2027, warning that staff layoffs may follow in the second half of the year. The...Continue Reading

FTSE 100 oil heavyweights are back in analysts favour after oil prices surged from the intensifying Middle Eastern conflict.  BP and Shell shares have jumped around three per cent in the last week and climbed further as President Donald Trump weighed in on the attacks in Israel and Iran. Russ Mould, investment director at AJ...Continue Reading

Dangote Refinery To Ship Its First Gasoline Cargo Out of Africa | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – Jun 18, 2025, 8:07 AM CDT The Dangote oil refinery in Nigeria, Africa’s largest crude processing facility, is set to ship...Continue Reading

Iran Is Rushing To Export Oil Following Israeli Attacks | 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 – Jun 18, 2025, 7:31 AM CDT Iran has hiked its daily oil exports...Continue Reading

Woodside Energy and Petronas Forge 15-Year LNG Supply Deal | 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 – Jun 18, 2025, 6:16 AM CDT Woodside Energy, Australia’s top independent oil and...Continue Reading

U.S. Battery Makers Declare National Emergency After China’s Antimony Ban | 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 – Jun 18, 2025, 5:32 AM CDT Battery makers in America have started...Continue Reading

Tokyo Gas LNG Supply Unaffected by Middle East Conflict | 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 – Jun 18, 2025, 4:42 AM CDT Tokyo Gas, the biggest city gas supplier...Continue Reading

EV Subsidy Funds Dry Up in Key Chinese Market | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – Jun 18, 2025, 3:05 AM CDT China’s trade-in subsidy program for electric vehicles has been...Continue Reading