June 12, 2026 Oil Prices Tumble 4% on Iran Peace Optimism Oil prices plunged by more than 4% early on Friday as the market hopes the U.S. and Iran have made progress toward a peace deal. As of morning trade in […] Oil Price
June 12, 2026 India Accuses West of Double Standards Over U.S. Russia Oil Sanctions The on-and-off U.S. sanctions on Russian oil and the flipping U.S. position regarding India’s oil purchases from Russia highlight the double standards of the Western nations, Indian Foreign Minister S […] Oil Price
June 12, 2026 Russian Governors Rush to Deny Fuel Crisis as Rationing Spreads Russia’s authorities and regional governors are racing to assure residents there are no fuel shortages amid an intensified Ukrainian drone campaign at Russian refineries and fuel supply roads. Ukraine has stepped […] Oil Price
June 12, 2026 Nigeria’s Crude Oil Production Hits 15-Month High Nigeria’s crude oil output jumped to a 15-month high in May as Africa’s top producer continues to ramp up production, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed. Nigeria […] Oil Price
June 12, 2026 Europe Wary Of Too Much Dependence on U.S. LNG European buyers aren’t committing to long-term LNG supply agreements with U.S. exporters despite the ongoing EU phase-out of Russian gas imports and the supply crisis in the Middle East. U.S. […] Oil Price
June 11, 2026 OPEC Oil Production Falls to Lowest Level Since 2000 Crude oil production among members of OPEC has this year collapsed to a generational low, at just 16.13 million barrels daily, Reuters reported, citing a regular survey it conducts on OPEC […] Oil Price
June 11, 2026 Trans Mountain Oil Pipeline Hits Full Capacity as Asian Demand Surges The Trans Mountain pipeline has reached full capacity for the first time since its expansion was completed, boosting the pipe’s total carrying capability to 890,000 barrels daily. Indeed, this month […] Oil Price
June 11, 2026 Japan Taps Reserves and New Suppliers to Beat the Oil Blockade Despite the Hormuz crisis, Japan has secured the same volumes of oil imports for July as it did a year ago, as it is boosting imports from producers not dependent […] Oil Price
June 11, 2026 Oil Could Hit $150 If U.S.-Iran Ceasefire Collapses Oil prices could hit $150 per barrel if hostilities between the United States and Iran escalate further from the current, most testing period in the ceasefire, according to intelligence firm […] Oil Price
June 11, 2026 India Secures Crude Supply Through August with Higher UAE Imports Indian refiners have secured crude supply at least through August as they boost purchases from the United Arab Emirates (UAE), Africa, and Brazil, trade sources told Reuters on Thursday. India’s […] Oil Price
June 10, 2026 U.S. to Release LNG and LPG Reserves to ASEAN Countries The United States will release liquefied natural gas and liquefied petroleum gas from its strategic reserves to sell to ASEAN members, Deputy Secretary of State Christopher Landau said today at […] Oil Price
June 10, 2026 U.S. Company to Send 250,000 Barrels of Fuel to Cuba An American company is preparing to send a cargo of diesel and gasoline to Cuba in what, if successful, would be the biggest U.S. shipment of fuel to the island […] Oil Price
June 10, 2026 China Begins Tapping Oil Stockpiles as Middle East Crisis Drags On China began tapping its huge oil reserves in May, three months after the Middle East conflict wiped out about a tenth of global supply, in a sign that Beijing is […] Oil Price
June 10, 2026 EU Moves Against Russian LNG Shipping As Arctic Gas Imports Surge Brussels is proposing new restrictions on Russia’s LNG shipping sector even as Europe remains the primary destination for Russian Arctic gas, receiving nearly 97% of Yamal Arctic LNG exports so […] Oil Price
June 10, 2026 EnQuest Bets $833 Million on Malaysia’s Offshore Oil EnQuest PLC has agreed to buy interests in four production sharing contracts offshore Malaysia from local state firm Petronas for up to $833 million, as the UK-based oil and gas […] Oil Price
June 9, 2026 More LNG Tankers Slip Through the Strait of Hormuz Another LNG carrier loaded with Qatari gas has passed through the Strait of Hormuz this week, bringing the total number of Qatari LNG cargoes that have cleared the chokepoint since […] Oil Price
June 9, 2026 China’s Oil Imports Plummet to Eight-Year Low Crude oil imports to China in May fell to their lowest since October 2017 because of the price spike resulting from the Persian Gulf tanker traffic disruption. The May total […] Oil Price
June 9, 2026 The Oil Shock Is Weakening India’s Economy and Finances India is scrambling to contain the economic and financial impact of the worst oil supply disruption in history as analysts say the high oil prices would continue to weigh on […] Oil Price
June 9, 2026 World’s 65 Biggest Banks Pumped $906 Billion Into Fossil Fuels in 2025 The biggest banks in the world increased financing for fossil fuels by 8% in 2025 from a year earlier, committing a total of $906 billion to fossil fuel companies amid […] Oil Price
June 8, 2026 Israel Hits Iranian Petrochemical Plant as War Escalates Israel hit a petrochemical plant in southwestern Iran early on Monday, the first direct energy strike on Iranian territory since the April 8 ceasefire, as hostilities in the Middle East […] Oil Price
June 8, 2026 Eurozone Fuel Sales Fall 3.5% as Iran War Sends Prices Surging Automotive fuel sales in the Eurozone slumped by the most in two and a half years in April as drivers reduced gasoline and diesel purchases as prices jumped in the […] Oil Price
June 8, 2026 Escalating Strike Action at Australian LNG Sites Could Hit Supply Shafaq News Workers at Australian LNG export facilities of Japanese energy firm Inpex have voted to escalate the strike action at all three sites to work stoppages of up to 8 hours […] Oil Price
June 5, 2026 Oman Oil Terminal Attack Rattles the Market’s Last Calm Corner Media reports about a blast disrupting oil loadings at Oman’s main terminal pushed benchmark prices higher earlier today, in the latest sign that any hopes about an end to Persian […] Oil Price
June 5, 2026 Indian Companies Eye Venezuelan Oil Fields as Imports Surge 51% in a Month Indian energy companies are interested in expanding into Venezuelan oil, New Delhi’s top energy official Hardeep Singh Puri said today at a meeting with Venezuela’s interim president Delcy Rodriguez in […] Oil Price
June 5, 2026 Malaysia’s Oil Production Fell 5.5% in Q1 Malaysia’s crude and condensate production dropped by 5.5% from a year earlier to 43 million barrels in the first quarter of 2026, due to a slump in crude output, the […] Oil Price
June 5, 2026 EU Says No Jet Fuel Shortage Coming Despite Middle East Supply Loss Shortages of jet fuel are not looming over Europe despite the shock loss of supply from the Middle East and soaring prices, according to EU Sustainable Transport and Tourism Commissioner, […] Oil Price
June 5, 2026 Australia’s 344-Million-Barrel Oilfield Could Finally Get the Green Light After years of delays, Australia’s largest undeveloped oil project could progress to a final investment decision in 2027 as the energy crisis amid the Iran war has heightened the need […] Oil Price
June 4, 2026 Pakistan Rushes to Secure LNG as Summer Power Demand Surges Pakistan has issued a new tender for LNG, to the amount of 1 million tons, The Nation reported today, citing the seasonal increase in electricity demand as summer heat sets in. This […] Oil Price
June 4, 2026 Iran Says ‘No Tangible Progress’ in Talks with U.S. Iran has signaled that there has been “no tangible progress” in the talks with the U.S. on a potential deal while the Israel-Lebanon ceasefire announced by the United States overnight […] Oil Price
June 4, 2026 Russia Admits Oil Output Is Falling as Ukrainian Drone Strikes Hits Refineries Russia’s crude oil production has declined since the beginning of the year as a number of local refineries are under unscheduled repairs and maintenance, Russia’s Deputy Prime Minister Alexander Novak […] Oil Price
