Oil prices surged following renewed US-Iran strikes, with Brent rising above $78 per barrel amid uncertainty over the Strait of Hormuz's openness. The International Energy Agency warned the escalation
The International Energy Agency warns that escalating U.S.-Iran hostilities could disrupt its forecast of a 2027 oil market surplus. Global supply rose in June but remains significantly below pre-war
The U.S. Department of Energy plans to loan up to 40 million barrels of crude oil from the Strategic Petroleum Reserve to stabilize fuel prices. This initiative involves borrowers returning the oil pl
The IEA reports global natural gas investment will surge over 10% to $330 billion in 2026, reaching a decade-high despite declining upstream oil spending. Middle East disruptions are accelerating shif
The U.S. dispatched crude oil from its Strategic Petroleum Reserve to the Philippines, the first such shipment to Asia in over three years. This action aids International Energy Agency efforts to stab
Due to continued blockages in the Strait of Hormuz, oil prices surged over 9% while US stocks fell sharply. The International Energy Agency warned of severe supply disruptions, prompting analysts to l
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