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.
The regional price of natural gas produced in the Permian, the top U.S. oil basin, was negative for most of the first half of the year. Rising associated gas output from oil-targeting wells has had nowhere to go.
Oil prices have just come off a fresh two-month high as the crude oil market has tumbled this week amid signals of de-escalation in the U.S.-Iran conflict.
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…
Europe's effort to rebuild natural gas inventories before winter suffered another setback on Wednesday after Equinor CEO Anders Opedal warned the region may struggle to reach its 80% storage target, highlighting intensifying competition for global LNG supplies.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 3.296 million barrels in the week ending July 24. In the week prior, US crude oil inventories grew by 2.603 million barrels.
