Industry News

Oil prices rose sharply as escalating Iran conflict risks threatened flows through the Strait of Hormuz.

'Two primary headwinds impacted the quarter: meaningful margin pressure in our fertilizer business and lower than anticipated contribution by the transportation business'.

Europe's biggest oil refinery is working flat out to produce jet fuel.

Crude oil stocks, not including the SPR, stood at 465.7 million barrels on April 17, the EIA's latest weekly petroleum status report showed.

Kinder Morgan reported a 39 percent year-on-year increase to $1.06 billion in adjusted net profit for the first quarter and declared $0.2975 in dividend per share, up 2 percent from the same three-month period last year.

QatarEnergy said its LNG trading arm would offtake 70 percent of Golden Pass' production.

'Reopening optimism' for the Strait of Hormuz is 'sliding fast', according to SEB Chief Commodities Analyst Bjarne Schieldrop.

Santos reported $1.27 billion in sales revenue for the first quarter, up 3 percent from the prior threemonth period thanks to higher LNG and crude oil volumes.

'I do not agree with those who say we should 'turn off the taps' overnight', UK Energy Secretary Ed Miliband said.

Traffic through the strait ground to a halt after Iran fired on commercial ships and said it had seized at least two vessels - a first in nearly eight weeks of war.

Iranian gunboats fired on commercial ships in the Strait of Hormuz while the U.S. intercepted two of the Islamic Republic's oil tankers.

Iranian gunboats fired on commercial ships in the Strait of Hormuz on Wednesday as Tehran maintained its grip on the vital energy channel.

Traders reacted to geopolitical risk and falling US inventories, pushing Brent above $101.

U.S. President Donald Trump indefinitely extended a ceasefire with Iran after the two sides failed to meet for more peace talks, with the war developing into a game of brinkmanship over the critical Strait of Hormuz.

Saipem reported around $92 million in net income for the first quarter, up 1.3 percent from the same three-month period last year, with 'improvements' in both onshore and offshore engineering and construction works.

Turkey will use its role as host of this year's COP31 climate summit to boost clean energy adoption, according to the event's incoming president.

'The extension of the Iran ceasefire has reduced immediate escalation risk', Naeem Aslam, CIO at Zaye Capital Markets, said.

The Federal Court of Australia ended proceedings in a case filed by Greenpeace Australia Pacific accusing Woodside of inaccurate climate reporting, after a settlement agreement.

Norway produced about 12 billion cubic feet a day of natural gas in March, down month-on-month and year-on-year, according to preliminary official figures.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up for the week ending April 17.