Iran MOU Tactical Operation To Refill Oil Stocks: Vance
The MOU is to fill the world's oil stocks and then see "where the hand is", U.S. Vice-President said.
Energy
What Is Driving The Sharp Decline In Global Oil Prices
Brent crude was trading near $73 a barrel, while U.S. West Texas Intermediate hovered around $70
Putin Acknowledges Fuel Deficit As Ukraine Targets Oil Refineries
Putin described the fuel shortage as temporary, saying Russia would increase fuel imports, speed up refinery repairs and strengthen air defenses against future drone attacks.
Analysts Warn Oil Market May Be Too Optimistic
Brent crude was trading near $72.45 a barrel on Monday, far below its wartime peak of more than $188 in April.
Iraq Calls For Higher Oil Quotas As OPEC Tensions Grow
Iraq, OPEC's second-largest oil exporter, has become increasingly concerned about its heavy reliance on oil exports through the Persian Gulf following the conflict involving the United States, Israel and Iran.
What Drove America's Inflation To A Three-Year High
Core inflation, which excludes volatile food and energy prices, increased only slightly to 3.4% from 3.3%, suggesting underlying price pressures remained relatively contained
Tanker Traffic Through Hormuz Pushes Oil Prices Lower
Brent crude fell 1.3% to $72.75 per barrel, while U.S. West Texas Intermediate dropped 1.1% to $69.60, returning to levels seen before the war began in late February.
Why Does Chevron CFO Say Gas Prices Will Take Time To Fall
Chevron is increasing production by 7% to 10% this year while optimizing operations to meet global energy demand. She said the company is doing everything it can to supply energy efficiently.
Crude Prices Slide As Strait Of Hormuz Shipping Improves
Continued tanker movement through the Strait of Hormuz boosted investor confidence that global energy shipments would remain largely uninterrupted.
Europe Battles Extreme Heat As France Suffers Blackout
According to Meteo France, the country recorded its hottest day ever on a national scale, with temperatures reaching 44.3 degrees Celsius in southwestern France. Several cities also registered unprecedented readings.
Energy Department Moves To Accelerate Nuclear Power Expansion
The funding will support five separate projects, each featuring two nuclear reactors based on Westinghouse’s AP1000 design, which can generate approximately 1.1 gigawatts of electricity per unit.
Iran Oil Exports Set For Boost After Sweeping US Sanctions Relief
The exemption allows Iran to produce, sell and receive payments for crude oil, petroleum products and petrochemicals in U.S. dollars through August 21.
EV Maker Lucid Announces 1,500 Job Cuts
The restructuring includes the elimination of the chief operating officer position and operational changes at Lucid's manufacturing facility in Casa Grande, Arizona.
Iranian Oil Trade Gets Temporary U.S. Approval Through August
Treasury Secretary Scott Bessent said the move is part of a broader diplomatic framework aimed at advancing a long-term agreement between the two countries.
How Chevron Will Supply Energy To Microsoft’s Texas Data Center
The facility is expected to consume nearly 2.7 gigawatts of electricity, an amount comparable to the power needs of roughly 2 million homes.
