US Oil Drilling Picks Up As Brent Gains 4%
US oil and gas drilling activity edged higher over the past week, coinciding with a sharp rally in crude prices, according to figures released by Baker Hughes on Friday.
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Iran Instructs Houthis to Prepare Red Sea Shipping Attacks
Iran has reportedly directed Yemen's Houthi movement to prepare for a possible closure of the Bab el-Mandeb strait, the southern chokepoint into the Red Sea, should Washington act on threats to strike Iranian power infrastructure.
Oil Prices Set for Biggest Weekly Surge Since April as Iran War Escalates
Crude oil markets are on course for their sharpest weekly gain since April, with prices climbing roughly 12% as renewed hostilities between the United States and Iran disrupted flows through the Strait of Hormuz and rekindled fears over Middle Eastern…
World-First Floating Wind Technology to Help Power Oil Rigs
China National Offshore Oil Corporation (CNOOC) has deployed what it describes as the world's first 16-megawatt tension-leg platform (TLP) floating offshore wind turbine, which set sail from Zhuhai in Guangdong Province at the end of June bound for the Lufeng…
Five Oil and Gas Stocks Ready for a Hormuz Spike and a Hawkish Fed
Energy investors are contending with two conflicting forces this month, according to a market analysis published by OilPrice.com. Renewed tension in the Strait of Hormuz has driven crude sharply higher, while expectations of a hawkish US Federal Reserve are keeping…
U.S. Strikes Iran-Linked Tanker Near Kharg Island
US forces have disabled an Iran-linked oil tanker close to the Kharg Island export terminal in the Persian Gulf, marking the first vessel strike since Washington reimposed its naval blockade on shipping bound for Iranian ports and coastal areas.