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.
Energy
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.
Saudi Oil Tankers Cross Strait Of Hormuz After U.S.-Iran Deal
According to shipping data from Kpler, the vessels resumed visible tracking after remaining off public monitoring systems for more than two months
IEA Cuts Oil Demand Forecast As Energy Markets Shift
According to the IEA’s latest monthly report, global oil demand growth for 2026 has been sharply downgraded after fuel shortages and elevated energy prices reduced consumption
Why Are Senate Democrats Opposing A West Coast Oil Reserve
Sens. Alex Padilla and Patty Murray wrote to Energy Secretary Chris Wright, requesting that the Department of Energy stop work on the project until Congress authorizes it
Trump Team Cuts $4 Million In Pro-Illegal Immigrant, DEI, And Green Energy Services
Led by Secretary Doug Burgum, the department determined the agreements were “operating in direct opposition” to its mission, according to a press release obtained by Fox News Digital.
Crude Prices Drop Sharply Following Reports On New Iran War Deal
Brent crude dropped about 5% to below $83 per barrel, while U.S. crude fell more than 5% to around $80.
The Breakthrough
Pressure brought Iran to terms and stopped a war. Turning that into a lasting peace is the work ahead.