Feb 24oil
Chevron steps in as Lukoil exits Iraq's giant West Qurna 2 oilfield
Chevron signed preliminary deals to take over the 400,000 bpd West Qurna 2 field from Russia's Lukoil, which declared force majeure under US sanctions.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Feb 23analysis
Oil could hit $100 if US goes to war with Iran, Fesharaki warns
FGE NexantECA's Fereidun Fesharaki told Bloomberg that $90-$100 oil is within reach, warning that war between the US and Iran looks unavoidable.
Feb 23market
Goldman Sachs lifts oil forecast by $6 on tight OECD inventories
Goldman raised its Q4 2026 Brent forecast to $60 and WTI to $56 per barrel, citing lower-than-expected OECD stock levels despite a projected surplus.
Feb 22gas
Shell advances Dragon gas project as US eases Venezuela sanctions
Shell is pushing forward with the Dragon offshore gas field in Venezuela after Washington issued new licenses, aiming to boost LNG supply from Trinidad.
Feb 19market
US drillers add rigs for third straight week, highest since November
Baker Hughes data shows the US oil and gas rig count rose by five to 551, the most active since November, led by a seven-rig jump in the Haynesville.
Feb 19oil
Oil surges 4% after Vance says military strikes on Iran on table
Brent crude jumped above $71 and WTI crossed $66 after VP Vance said Iran failed to meet US demands and President Trump reserves the right to use force.
Feb 17gas
Europe's gas storage drops to lowest level since 2022 crisis
EU gas reserves have fallen to 35% capacity, the lowest seasonal level in four years, as a cold winter and Russian supply cuts drain inventories.
Feb 17oil
China gorges on cheap Russian crude as India steps back
Russian oil shipments to China jumped to 2.07 million barrels per day in February, a new record, after India slashed imports under US pressure.
Feb 16oil
Iran offers energy deals as sweetener in nuclear talks with US
Tehran dangles oil, gas, and mining contracts to make a nuclear deal stick, while Washington slaps fresh sanctions on 14 tankers in Iran's shadow fleet.
Feb 16opec
OPEC+ eyes April output hike as March 1 meeting nears
Eight OPEC+ producers are leaning toward restarting output increases in April, but a widening gap between demand forecasts clouds the decision.
Feb 13market
Oil falls 3% after IEA cuts demand forecast and flags record surplus
Brent crude dropped to $67.51 as the IEA slashed its 2026 demand growth forecast by 80,000 barrels a day and warned of a 3.7 million bpd surplus.