Oil prices rise as traders grow skeptical of a breakthrough in U.S.-Iran talks
Friday, May 22,2026,12:33
The U.S. and Iran have signaled progress in talks to end the war, but the warring sides remain at loggerheads over key issues. .. read more..
China's Fuel Exports to Remain Low as Curbs Persist
Friday, May 22,2026,12:30
China's fuel exports will rise only slightly in June from May as government restrictions on shipments largely remain in place to preserve supply for the domestic market amid the biggest oil disruption in history. China is expected to export about 550,000 metric tons of fuels next month, up from around 500,000 tons set to be shipped this month, trade sources with knowledge of the plans told Reuters on Friday. Days after the conflict in the Middle East erupted and led to the closure of the Strait of Hormuz, the Chinese government moved to ban all… .. read more..
Iran war leaves U.S. gas prices at highest levels in nearly four years ahead ...
Friday, May 22,2026,12:09
Global oil inventories are declining fast with just four to six weeks until gasoline, diesel and jet fuel prices shoot higher, analysts said. .. read more..
This generator stock will get a boost from the AI infrastructure boom, says J...
Friday, May 22,2026,12:03
There are ongoing negotiations with multiple hyperscalers for large backup generator supply contracts, Jefferies pointed out. .. read more..
U.S., Iran signal peace progress — but remain at odds over enriched uranium, ...
Friday, May 22,2026,11:36
U.S. Secretary of State Marco Rubio on Thursday said there were "good signs" that an agreement to end the Middle East conflict is in sight. .. read more..
Volatility Spikes as Iran Diplomacy Collides With Hormuz Fears
Friday, May 22,2026,11:30
July WTI crude oil delivered a volatile week as traders aggressively repriced geopolitical risk and then rapidly removed part of that premium on hopes of a diplomatic breakthrough between the United States and Iran. Through Thursday, May 21, July WTI posted a high of $105.21, a low of $95.76, and settled at $97.77, up $3.39, or 3.35%, for the week. The price action told a much bigger story than the weekly gain itself. Crude spent the early part of the week climbing sharply as traders focused on supply disruptions tied to Iran and the continuing… .. read more..
Taiwan Anxiety Mounts After Trump-Xi Meeting
Friday, May 22,2026,11:30
Politics, Geopolitics & Conflict The biggest (and only, really) takeaway from the Trump-Xi meeting is that, as we mentioned last week and the week prior, this is all about Taiwan. All eyes are now on the $14-billion Taiwan arms package that Trump suddenly appears willing to drag his feet on, raising immediate questions about how far Washington is prepared to bend. Trump’s refusal to immediately approve the already Congress-cleared package, combined with his repeated emphasis on having an “amazing” meeting with Xi, is creating… .. read more..
The Hormuz Crisis Is Reviving Egypt’s Gas Hub Ambitions
Friday, May 22,2026,11:30
All the Hormuz chaos is giving Egypt another chance to become a gas hub. In the immediate term, Egypt is taking a hit, but the conflict is strengthening Cairo’s long-term East-Med gas position. Right now, the Iran conflict means that Egypt has an immediate supply problem. Israeli gas exports to Egypt were disrupted after the conflict escalated, removing roughly 1.1 billion cubic feet per day from the Egyptian market. And domestic output was already under pressure amid rising electricity demand. Cairo has been forced to increase LNG… .. read more..
Japan to Welcome First Crude Cargo via Hormuz Since War Began
Friday, May 22,2026,11:30
A supertanker carrying 2 million barrels of Saudi crude is set to arrive in Japan early next week after clearing the Strait of Hormuz in late April, in the first shipment of Middle East crude to Japan via the chokepoint since the Iran war began on February 28. The very large crude carrier (VLCC) Idemitsu Maru, which had departed from Saudi Arabia’s Ras Tanura port in the Persian Gulf in mid-March, is expected to arrive in Nagoya on May 25, data on MarineTraffic showed. As of early Friday, the supertanker was close to the coasts of Japan.… .. read more..
On the right track: Eni makes big gas discovery in Egypt's Western Desert
Friday, May 22,2026,11:26
Bostan-1X exploration well hit 400 feet of net pay .. read more..
Oil-rich Alberta to hold a vote on whether to separate from Canada
Friday, May 22,2026,10:27
The move for a referendum comes after months of campaigning from a group of separatists. .. read more..
Lenders line up to finance Eni CCS projects
Friday, May 22,2026,10:04
Italian major's CCS-focused satellite secured £500 million from leading banks .. read more..
The Commodities Feed: Lingering Iran uncertainty has oil prices oscillating
Friday, May 22,2026,10:00
Energy – Oil focus remains on US-Iran negotiations Markets are still searching for signs of progress in a potential deal between the US and Iran. While there are signs of optimism, uncertainty reigns. This is not the first time a deal seemed close, only for negotiations to break down. So, there’s a large segment of ... .. read more..
Running out of barrels: cumulative oil losses reach 782 Mbbls, closing in on ...
Friday, May 22,2026,10:00
Cumulative crude and condensate supply losses in the Middle East have reached 782 Mbbls as of 8 May, with 1000 Mbbls expected to be reached later this month. Cumulative Middle Eastern crude and condensate supply outages have continued to climb rapidly in recent weeks, currently hovering at 782 Mbbl as of 8 May, with outages ... .. read more..
US Natural Gas Prices Decline
Friday, May 22,2026,10:00
US natural gas futures fell below $3.0 per MMBtu, retreating from two-month highs, pressured by elevated storage levels. The EIA report showed energy firms injected 101 bcf of gas into storage for the week ended May 15, above market expectations for a 95-bcf build and the five-year average increase of 92 bcf for the period. ... .. read more..
India Explores Alternative Energy Sources Amid Oil Supply Shock
Friday, May 22,2026,10:00
India’s Prime Minister Narendra Modi has urged the government to urgently explore an increase in the use of alternative energy sources, including biogas as a substitute for liquefied petroleum gas (LPG), as the Middle East crisis is choking oil and gas supply to the world’s third-largest crude importer. Modi also urged ministers to move faster with implementing reforms to turn India into a developed nation by 2047, the goal for its 100th independence anniversary. India has been grappling with the energy crisis that the Iran war created.… .. read more..
New UK North Sea oilfield due on stream imminently
Friday, May 22,2026,09:53
Operator updates on Teal West and Greater Marigold projects .. read more..
ExxonMobil signs deal to assess exporting Cypriot gas to Egypt
Friday, May 22,2026,09:49
US supermajor, QatarEnergy and Cairo government sign MoU to assess viability of sending gas from Glaucus and Pegasus discoveries to North Africa nation .. read more..
S&P flags pressure on Indian Oil as high crude prices squeeze margins
Friday, May 22,2026,09:41
S&P Global Ratings warns Indian Oil Corporation faces mounting pressure to balance affordable fuel with profitability. Prolonged Middle East tensions are escalating crude oil prices, squeezing margins and potentially impacting IOC's earnings and liquidity over the next year. The agency highlights the challenge of absorbing losses from high crude costs while meeting India's energy needs. .. read more..
Barclays Warns of Upside Risk to Its $100 Oil Price Forecast for 2026
Friday, May 22,2026,09:18
Risks to oil prices are firmly skewed higher amid plunging global oil inventories in the worst supply disruption in history, according to Barclays. The investment bank on Friday kept its $100 per barrel Brent forecast for 2026, but warned that the risks are skewed to the upside as the closure of the Strait of Hormuz has been draining U.S. and global inventories to multi-year lows. “Inventory trends are signaling a 6-8 (million bpd) deficit with the U.S. inventories within reach of the lowest levels since 2020,” analysts at Barclays… .. read more..
India’s Power Demand Hits Record High as Heat Drives Coal Use
Friday, May 22,2026,09:00
India’s power generation rose to a new all-time high amid hot weather that drove air-conditioning demand up, with thermal generation, most of its coming from coal power plants, covering 62% of demand. Power demand on Thursday hit 271 GW, on the “fourth consecutive day when the peak power demand (solar hours) reached a new all-time high,” India’s power ministry said, as quoted by AFP. After milder temperatures tempered demand growth in the fiscal year to March 2026 to the lowest level in six years, demand is now beating peak… .. read more..
Oil prices climb 3% as traders grow skeptical of U.S.-Iran deal
Friday, May 22,2026,08:52
The U.S. and Iran have signaled progress in talks to end the war, but the warring sides remain at loggerheads over key issues. .. read more..
Kazakh project maintenance shutdown under review amid high prices
Friday, May 22,2026,08:27
Maintenance shutdown at Kashagan offshore oilfield would remove 400,000 bpd of oil from international markets in June .. read more..
Borr feeling good about prospects for enlarged fleet
Friday, May 22,2026,08:14
Company has added 10 jack-ups to its fleet of top-tier shallow-water rigs .. read more..
Alberta Pushes Ahead With Separation Referendum Despite Court Challenge
Friday, May 22,2026,08:00
Alberta’s Premier Danielle Smith has said Canada’s oil province will go ahead with a referendum on whether to remain in the federation or secede, stating that “Alberta’s future will be decided by Albertans, not the courts.” “The fact is that between the “Forever Canada” petition requesting a referendum on Alberta remaining in Canada, and the “Stay Free Alberta” petition requesting a referendum on leaving Canada, approximately 700,000 Albertans have signed petitions requesting a vote on… .. read more..
Transformers and Rectifiers bags Rs 228.26 cr order from Gujarat Energy Trans...
Friday, May 22,2026,07:31
Transformers and Rectifiers India has won a significant order valued at Rs 228.26 crore from Gujarat Energy Transmission Corporation. The company will supply six transformers and two reactors. This major project is scheduled for completion by August 2028. The Ahmedabad-based firm specializes in manufacturing various types of transformers. Its shares saw a positive movement on the BSE. .. read more..
Shell Returns to Dutch Supreme Court in Landmark Climate Case
Friday, May 22,2026,07:01
Supermajor Shell is facing the Netherlands’ Supreme Court in an emissions lawsuit that a few years ago led to a ruling forcing the company to slash emissions from operations by 45% by 2030, which was later overturned at a higher court. Back in 2021, the District Court in The Hague ordered Shell to reduce its carbon dioxide emissions by 45% by 2030 in a landmark ruling on a suit brought in front of the court by environmentalist group Milieudefensie, other NGOs, and a group of private individuals. At the time, commentators said that the ruling… .. read more..
Vedanta arm Talwandi Sabo Power faces Rs 127 crore penalty
Friday, May 22,2026,06:31
Vedanta's subsidiary, Talwandi Sabo Power Ltd, must pay approximately Rs 127 crore plus late payment surcharge to Punjab State Power Corporation Ltd. The Supreme Court upheld a penalty for misdeclaration of availability in January 2017. This power plant is crucial for Punjab's energy needs. The judgment restores an earlier order from the state regulator. .. read more..
'Stranded jewels': New player targets mature Nigeria assets after London listing
Friday, May 22,2026,05:56
Coastal Africa also eyes Angola acquisitions and wants to establish an integrated engineering, procurement and construction business .. read more..
Crude oil prices could hit $200 per barrel if Strait of Hormuz remains closed...
Friday, May 22,2026,05:50
A prolonged closure of the Strait of Hormuz could push crude oil prices to as high as $200 per barrel and trigger a global recession, according to a Wood Mackenzie report. .. read more..
India generates record power as demand surges in severe heatwave
Friday, May 22,2026,03:25
India's power producers achieved a record electricity generation as a severe heatwave grips the nation. Peak power demand hit an all-time high for the fourth consecutive day, reaching 270.82 gigawatts on Thursday, successfully met by the grid. This surge is attributed to increased use of cooling appliances amid soaring temperatures. .. read more..
An AI trade involving energy and infrastructure that's doubled your money, to...
Friday, May 22,2026,02:13
If you put the same money into a basket of companies that are building out AI infrastructure and energy sources, you’ve done much better than stocks like Nvidia. .. read more..
Oil Prices Rise as Traders Grow Skeptical of U.S.-Iran Deal
Friday, May 22,2026,02:07
Oil prices climbed in early Asian trade on Friday as skepticism grew that U.S.-Iran negotiations would produce a breakthrough, with all the major sticking points still unresolved despite claims of progress. At the time of writing, Brent futures were trading at $104.80, 2.13% higher on the day, while WTI futures climbed to $97.99, up 1.70%. The price spike comes after both benchmarks fell roughly 2% on Thursday to their lowest levels in nearly two weeks, as traders briefly priced in the possibility of diplomatic progress. It seems that sentiment… .. read more..
Oil resumes rally as Iran reportedly wants to keep enriched uranium within th...
Friday, May 22,2026,01:39
The International Energy Agency warned that as travel demand grows during the summer season, oil markets could enter a "red zone" soon. .. read more..
Adani Power strikes Rs 4,200 crore deal for Jaypee power assets amid group ov...
Friday, May 22,2026,01:39
Adani Power is set to acquire stakes in Jaypee Group's power companies for approximately ₹4,200 crore. This move will boost Adani Power's generation capacity and thermal power presence. The deal includes a stake in Jaiprakash Power Ventures and the Churk thermal power plant. This acquisition is part of a larger restructuring of the debt-laden Jaypee Group. .. read more..
Pauline Hanson reveals Norway-inspired oil and gas policy for Australia
Friday, May 22,2026,01:07
One Nation's proposal would see commonwealth government take up 30% equity in new projects .. read more..
Why Saudi Arabia Is Losing Asia’s Oil Buyers
Friday, May 22,2026,00:00
Saudi crude exports have been falling since the US- Iran war began, but the latest slide is no longer just a story of disrupted trade routes. Cargoes scheduled to sail from Saudi Arabia in May are now assessed at roughly 3.9 million b/d (historic lows), while almost every major Saudi buyer – China, Japan, South Korea, India and Taiwan – is cutting nominations for the months ahead. China, still Saudi Aramco’s largest customer, is expected to take only about 600,000 b/d of Saudi crude in June, roughly half April’s volume.… .. read more..
Venezuela third largest supplier of crude to India in May
Friday, May 22,2026,00:00
India's crude oil imports see a significant shift this May. Venezuela has become the third-largest supplier, surpassing Saudi Arabia and the US. This surge is due to Indian refiners, like Reliance Industries, buying more of Venezuela's cost-effective, heavy crude. Overall imports are up, though still below pre-Iran war levels. Supplies from Saudi Arabia have decreased. .. read more..
Santos lauds 'milestone' for flagship CCS development
Thursday, May 21,2026,23:51
Santos is also progressing concept development for the second phase of its Moomba CCS project .. read more..
PV Drilling to supply jack-up drilling rig to Russian player
Thursday, May 21,2026,23:29
Unit will be deployed at Thien Nga-Hai Au field offshore Vietnam .. read more..
At least seven contenders in chase for strategic Middle East project
Thursday, May 21,2026,23:26
Oman's OQ envisages developing NGL extraction facilities at Saih Nihayda with transportation to Duqm, where the gas liquids will be fractionated and stored for export .. read more..
High oil and gas prices to cost global economy up to $2 trillion, ETC warns
Thursday, May 21,2026,23:25
Asia at crosshairs of energy security dilemma with ETC making case for long-term transition to alternative energy sources .. read more..
Russia says understanding reached with China on gas pipeline project
Thursday, May 21,2026,23:24
China has yet to disclose details of the Sila Sibiri 2 pipeline project .. read more..
Yinson opens first office in China
Thursday, May 21,2026,23:24
The floater specialist has been cooperating with Chinese shipyards for years .. read more..
This week's leading oil and gas appointments
Thursday, May 21,2026,23:22
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Brazil’s Lula Doubles Down On Oil And Rare Earths As Brazil’s Strategic Future
Thursday, May 21,2026,23:00
Brazilian President Luiz Inácio Lula da Silva has explicitly linked oil exploration and rare-earth mining to Brazil's national sovereignty, declaring that the country’s subsoil resources must be used to drive domestic industrialization rather than enrich foreign nations. Speaking at Petrobras’(NYSE:PBR) giant refinery, Refinaria de Paulínia (Replan), in São Paulo, Lula emphasized that Brazil must actively extract its natural resources in a bid to secure its geopolitical and economic future. Defying foreign… .. read more..
ExxonMobil close to deal to return to Venezuela: report
Thursday, May 21,2026,22:13
US supermajor first sent team to South American nation in March to explore its vast oil resources .. read more..
Why Oil’s Supply Crunch Could Arrive Late
Thursday, May 21,2026,22:00
The oil market still looks surprisingly calm for a system that has spent nearly three months absorbing the largest supply disruption in modern history. That should probably make people nervous. Because underneath the headline inventory numbers, the market has gone from adding barrels to burning through them. And lately, it has been using emergency reserves to help keep the machinery running. The inventory picture still looks comfortable if you zoom out far enough. According to Oilprice.com's analysis of weekly API data, U.S. commercial crude inventories… .. read more..
Offshore driller names Halliburton chief to its board of directors
Thursday, May 21,2026,21:39
Jeff Miller tapped to fill open spot on Noble Corporation’s board .. read more..
EU Natural Gas Holds Near 6-Week High
Thursday, May 21,2026,21:00
European natural gas prices were at €50 per megawatt hour in May, remaining relatively close to their highest level in six months on fresh skepticism that the US would reach an imminent agreement with Iran to restore energy exports out of the Persian Gulf. Hawkish rhetoric from Iranian officials weighed against Washington’s signal that both ... .. read more..