Iran would be allowed to start oil exports immediately under an interim deal with the U.S. and gain access to a $300 billion economic development program following negotiations for a permanent peace meant to address Tehran's nuclear activities.
Oil fell for a fourth straight session as a US-Iran deal to reopen the Strait of Hormuz improved expectations for increased crude supply.
The question for the market, now that a deal has been reached to reopen Hormuz, is whether Chinese demand for fuels like gasoline will normalize, or whether the rapid transport electrification has permanently dented consumption.
At the Group of Seven Summit, held in France, Europeans have raised a series of questions about what exactly was agreed to before committing to demining missions and patrols.
The Norwegian Union of Energy Workers is staging strikes against offshore well services companies after refusing proposals that the union sees as years behind collective bargaining agreements in other parts of the oil and gas industry.
The U.S. Energy Information Administration raised its Henry Hub spot price forecasts for 2026 and 2027 in its latest short term energy outlook.
'Through its subsidiary Neoenergia Coelba, the company will build 54 new substations, more than 2,000 kilometers of high-voltage transmission lines and 42,000 kilometers of medium-voltage distribution networks'.
Chevron and Helleniq Energy have now expanded their partnership in Greece to five offshore concessions.
The Japanese integrated power company took delivery of its first cargo of LNG from the Barossa Gas Project in Australia's Northern Territory, in which it owns a minority stake.
The White House sought to make the case that its interim deal with Iran will end a global energy crisis and achieve the administration's wartime goals, even as the two adversaries diverged on what the agreement will look like.