Feb 3analysis
Oil caught between bearish charts and geopolitical wildcards
WTI plunged 5% to $62 as US-Iran talks eased war fears, but drone strikes and OPEC supply decisions keep traders guessing on what comes next.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Feb 2oil
Equinor sells Vaca Muerta stakes to Vista Energy for $1.1 billion
Norway's Equinor will exit onshore Vaca Muerta in a cash-and-stock deal with Vista Energy, keeping its Argentine offshore exploration licenses intact.
Feb 1gas
Natural gas holds above $4 after storm-driven 70% spike in January
Henry Hub gas settled at $4.35/MMBtu after prices swung from $3.10 to above $5 in a single week as Winter Storm Fern slashed production to a two-year low.
Jan 31oil
Oil posts biggest monthly gain since 2023 as Iran standoff heats up
Brent crude gained roughly 14% in January, its best month since July 2023, as escalating US-Iran tensions and a live-fire drill in the Strait of Hormuz drove a geopolitical risk premium into prices.
Jan 31market
ExxonMobil and Chevron beat Q4 estimates as record output offsets crude slump
Both oil supermajors topped Wall Street expectations on January 30, leaning on record production from the Permian Basin and Guyana to offset a roughly 20% drop in crude prices.
Jan 30opec
OPEC+ faces pivotal test as eight producers meet amid price rebound
Eight key OPEC+ producers meet Saturday to assess whether their production freeze should extend into Q2, with oil prices at January highs above $65.
Jan 29oil
Winter storm slashes US oil output by 2 million barrels a day
A severe winter storm knocked out roughly 15% of US crude production last weekend, hammering the Permian Basin hardest and briefly halting all Gulf Coast exports.
Jan 27oil
Libya signs $20 billion oil deal with TotalEnergies and ConocoPhillips
French and American oil majors extend Waha concessions to 2050 in deal targeting 850,000 barrels per day production capacity, with $376 billion in expected revenues.
Jan 25market
US crude inventories surge as Cushing sees biggest build since August
Crude oil stocks rose 3.6 million barrels last week while the key Cushing hub added 1.5 million barrels, the largest gain in five months.
Jan 24oil
Oil prices surge as Trump warns of armada heading toward Iran
Brent crude jumps nearly 3% to $65.88 after President Trump says US warships are heading toward Iran, adding to supply fears from Kazakhstan outage.
Jan 22oil
India overtakes China as the engine of global oil demand growth
India now drives 25% of world oil demand growth as its economy expands at 6.4% and vehicle sales surge, while China's consumption slows.