Iran's Oil Minister Resigns Amid US Export Blockade
Iran's oil minister, Mohsen Paknejad, has resigned, with President Masoud Pezeshkian accepting the departure on Sunday, according to Reuters. Pezeshkian appointed Hamid Bovard, the head of the National Iranian Oil Company (NIOC), as acting oil minister. The move hands oversight of the country's most
06 Oct 2026 · 1 min read
EU Weighs Delay to Methane Rule Ahead of January Start
The European Union is weighing a postponement of its methane regulation, which is currently scheduled to take effect in January. Energy Commissioner Dan Jorgensen said last week that delaying the implementation of the rule was under consideration. The prospect of postponement puts the bloc's emissio
06 Oct 2026 · 1 min read
Gulf Exports Near Pre-War Levels, But Hormuz Share Low
Crude and condensate exports from the Gulf have climbed back to roughly their pre-war volumes, according to a Standard Chartered estimate, even though the share of those barrels passing through the Strait of Hormuz remains far below earlier levels. The bank puts September exports at about 16.5 milli
06 Oct 2026 · 2 min read
Apache Offshore Workers Back Strike Over North Sea Pay
A pay dispute at Apache has moved closer to industrial action after more than 160 of the company's offshore workers backed a strike. The support signals an unresolved disagreement over compensation. Seven North Sea assets could see operations disrupted if the action goes ahead. The potential conseq
05 Oct 2026 · 1 min read
Ithaca Energy to Buy Suncor's Terra Nova, White Rose Stakes
Ithaca Energy has agreed to acquire Suncor Energy's interests in the Terra Nova and White Rose oil assets offshore eastern Canada in a deal worth $860 million. The consideration is to be paid entirely in cash, according to the terms set out in the announcement. The transaction transfers Suncor's sta
05 Oct 2026 · 1 min read
G7 to Release Up to 100 Million Barrels of Diesel and Crude
The G7 and its partner governments have committed to releasing as many as 100 million barrels of emergency diesel and crude stocks into the market over the next four months. French President Emmanuel Macron said on Friday that the release would be coordinated through the International Energy Agency,
05 Oct 2026 · 1 min read
US Sends Patriot Batteries to Guard Saudi Oil, Qatari Gas
The United States last month sent two additional Patriot missile batteries to protect energy infrastructure in Saudi Arabia and Qatar, according to U.S. officials and a Persian Gulf regional source. The deployments are meant to shield key oil and gas sites from potential Iranian strikes should the w
04 Oct 2026 · 1 min read
G7 to Release Up to 100 Million Barrels of Diesel, Crude
Governments in the G7 and its partner countries have agreed to release up to 100 million barrels of diesel and crude from emergency stockpiles over the coming four months. They would enter a fuel market where refinery output has fallen short for months. French President Emmanuel Macron said on Frida
04 Oct 2026 · 1 min read
Trump, Seoul Differ Over $8.4 Billion EOR Project in Deal
President Donald Trump said on Friday that South Korea's investment agreement with the United States now includes $8.4 billion for a US-based enhanced oil recovery project. Seoul denies that any such commitment was made. The conflicting accounts leave the existence, scope and funding of the project
04 Oct 2026 · 1 min read
Iran's Hormuz leverage questioned as Gulf flows recover
Crude flows from the Persian Gulf have recovered to near-prewar levels, but the way that oil is reaching buyers has changed in ways that could weaken Iran's position at the Strait of Hormuz. Much of the region's crude, the report says, is now moving through routes and shipping arrangements that were
03 Oct 2026 · 2 min read
Trump: Korea Deal Includes $8.4B EOR Project; Seoul Denies
President Donald Trump said on Friday that the investment agreement between South Korea and the United States now includes $8.4 billion for an enhanced oil recovery project. Seoul, however, says it never agreed to any such project, leaving the two governments with directly conflicting accounts of wh
03 Oct 2026 · 1 min read
Oil and Diesel Prices Fall Amid G7 Emergency Release
Oil and diesel prices fell as the G7 nations acted to release emergency supplies. The decline covered both the wider oil market and diesel, a fuel with direct relevance to transport fleets and industrial sites. Because the step involves the G7 as a group, it points to a coordinated action by member
03 Oct 2026 · 1 min read
BLM to Offer 35,000 California Acres in December Lease Sale
The U.S. Bureau of Land Management will auction about 35,000 acres of federal land in California in an oil and gas lease sale scheduled for December 1, the agency said on Thursday. The offering consists of 43 parcels spread across Kern, Kings, Fresno and San Luis Obispo counties. The auction puts fe
02 Oct 2026 · 1 min read
Middle East September Crude Exports Highest Since War Began
Crude oil exports from the Middle East reached their highest September level since the war with Iran began, according to industry observers who analyzed shipping and commodity market data. The assessment reinforces a broader trend of rising supplies from the region. The increase has come despite Ira
02 Oct 2026 · 1 min read
Venezuela's Oil Exports Fall 9% as Freight Costs Bite
Venezuela's oil exports fell nearly 9% in September to 1.08 million barrels per day, as sharply higher tanker costs disrupted the country's crude shipments. Traders buying Venezuelan barrels demanded steeper price discounts and held back cargoes that were due to leave. The decline came despite risin
02 Oct 2026 · 1 min read
Brent Up Nearly 4% on Fuel Supply, Diesel Export Concerns
Brent crude climbed by nearly 4 percent in a trading session shaped by several supply-related concerns. Tightness in fuel supply was cited as a key driver, with limited availability supporting prices. Risks tied to Hormuz also featured in the market picture, weighing on sentiment alongside the suppl
24 Sep 2026 · 1 min read
US Commercial Crude Stocks Rise Week on Week, EIA Says
The U.S. Energy Information Administration (EIA) has released its latest weekly petroleum status report, which shows commercial crude oil stocks in the United States rising week on week. According to the report, commercial crude inventories stood at 426.39 million barrels as of September 18. This fi
24 Sep 2026 · 1 min read