Chevron, Exxon Post Higher Profits On Rising Crude Prices
Chevron's net income climbed to $12 billion, nearly four times higher than a year earlier, while adjusted earnings exceeded Wall Street expectations.
Energy
Oil Prices Steady As Hormuz Traffic Gradually Recovers
According to Commonwealth Bank of Australia, shipping through the Strait of Hormuz has recovered to about 30% to 35% of pre-conflict levels.
What Triggered The Latest Surge In Crude Oil Prices
Iran targeted a U.S. military base in Jordan, while U.S. Central Command said all incoming missiles were intercepted
Data Center Boom Forces US Grid To Ration Electricity
The policy will take effect in June 2027 and apply to data centers consuming at least 50 megawatts of electricity
Iran War Drains America's Strategic Oil Reserve
The reserve declined from 415.4 million barrels in March to 311.4 million barrels by mid-July, a drop of nearly 25% in 17 weeks
Russian Attack Triggers Major Power Outage In Northern Ukraine
Utility crews were working to restore service, while Kyiv's air defenses responded to a separate Russian aerial attack targeting the Ukrainian capital
Which Countries Are Concerned About The Saudi-US Nuclear Pact
The most controversial element is a reported provision that could eventually allow Saudi Arabia to enrich uranium domestically under reduced international oversight.
US, Saudi Arabia Advance 30-Year Nuclear Pact
Under the agreement, American companies would provide technology and technical expertise to help develop Saudi Arabia's civilian nuclear program.
Strait Of Hormuz Fears Push Oil Prices Higher
President Donald Trump said the United States was "not finished" with military operations against Iran
Americans Face Higher Fuel Costs As Iran Conflict Escalate
Brent crude oil climbed above $90 a barrel for the first time since early June, while West Texas Intermediate also posted sharp gains
What was Discussed During The Trump-Iraq White House Meeting
Trump also emphasized maintaining a U.S. military presence in Iraq primarily for protection.
Trump's Iran Blockade Plan Sends Global Oil Prices Higher
U.S. West Texas Intermediate crude rose above $80 per barrel, while Brent crude climbed past $87 after extending gains from the previous session.
Gulf States Accelerate Oil Export Alternatives To Strait Of Hormuz
Saudi Arabia is diverting around four million barrels of crude per day through its East-West pipeline to the Red Sea, while the United Arab Emirates is reportedly planning a new port
Senators Reach Agreement With Trump On Russia Sanctions Bill
The report said the legislation is intended to increase pressure on Russia by imposing penalties on nations that continue buying Russian oil and natural gas.
IEA Sees Annual Drop In Global Oil Demand
The agency said demand will fall by about 1 million barrels per day in 2026 compared with the previous year.