The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build a bomb. SourceContinue Reading

“Oil is seeing a continued loss of momentum, with sentiment taking a knock,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “Most importantly, worries about the short-term demand outlook as governments respond to a surging delta variant” are weighing on the market. SourceContinue Reading

Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt and Co. SourceContinue Reading

Exxon Mobil was suspended from the Climate Leadership Council, a pro-carbon tax group backed by conservation groups and some of the world’s biggest corporations. SourceContinue Reading

The reopening of major economies has triggered a surge in commodity prices, with crude up around 40% this year. In the past two weeks, oil companies such as BP Chevron and Royal Dutch Shell have said they will increase share buybacks and payouts, confident the worst of the pandemic is over. SourceContinue Reading

While there are several one-off factors that have pushed gas prices higher, such as supply disruptions, the global economic rebound and a lull in new LNG export plants, there is a growing consensus that the world is facing a structural shift, driven by the energy transition. SourceContinue Reading

Saudi Arabia’s move to push up the cost of its oil in Asia may backfire as an outbreak of the delta virus variant in China damps demand, while the U.S. and Russia offer more competitively priced alternatives. SourceContinue Reading

The natural gas industry should receive tax incentives similar to those provided for renewable energy projects, according to one of Texas’s top oil and gas regulators. SourceContinue Reading

Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand. SourceContinue Reading

Brazil’s state-controlled oil company saw its earnings surge to a record for the second quarter, providing relief to investors who were rattled by a messy management change earlier this year. SourceContinue Reading