Hurricane Isaias Cuts U.S. Gulf Oil Output by 71%
Hurricane Isaias has shut in nearly 1.46 million barrels per day of U.S. Gulf oil production, according to figures the Marine Minerals Administration released on Friday. Operators reported 1,458,814 bpd offline, equal to 71.51% of current Gulf oil output. Natural gas production has been affected as
11 Oct 2026 · 1 min read
IEA to Release Another 100 Million Barrels as Stocks Run Low
The International Energy Agency said earlier this week, after consulting with the G7, that it would release another 100 million barrels of diesel, gasoline, and crude oil. The additional barrels form part of a plan announced in March to release 400 million barrels of oil in response to the Hormuz sq
11 Oct 2026 · 1 min read
Tanker Rates Top $1.4M a Day as Iran War Reroutes Crude
The cost of moving crude oil by sea reached record levels last month as the war involving Iran reshuffled trade routes and left a growing share of the tanker fleet engaged in long, inefficient voyages. Daily hire for the largest crude carriers has climbed to unprecedented heights, turning an oil cri
11 Oct 2026 · 1 min read
Pemex Would Need Nearly $110 Billion to Meet Output Targets
Pemex would need investment of nearly $110 billion to lift its output to the levels set by Mexico's production targets. The estimate points to the gap between the company's current production and what the national targets demand of it. It comes as a recent assessment weighs Mexico's energy insecurit
10 Oct 2026 · 1 min read
Energy Aspects: Crude Futures Underprice Mideast Risk
Crude oil futures are failing to reflect conditions in the physical market, according to Amrita Sen, founder and director of market intelligence at Energy Aspects. Speaking to CNBC on Friday, Sen said some physical crude prices should be trading closer to $150 a barrel. In her view, futures have dri
10 Oct 2026 · 1 min read
Record US Crude Output Can't Fix the Diesel Squeeze
The United States is producing more crude oil than at any point in its history, yet the country is simultaneously struggling with a tightening diesel market. According to the Energy Information Administration, US crude production is on track to average a record 13.8 million barrels per day in 2026,
10 Oct 2026 · 1 min read
Saudi, UAE Back Japanese Push for SE Asian Oil Reserves
Saudi Arabia and the United Arab Emirates will support a Japanese initiative to strengthen oil supplies in Southeast Asia, Rigzone reports. The move follows disruptions linked to war that have sharpened energy security concerns and prompted efforts to reinforce crude availability across the region.
09 Oct 2026 · 2 min read
Reliance Lifts India's Venezuelan Crude Imports to Seven-Yea
Reliance Industries is leading a renewed surge in Indian crude oil purchases from Venezuela, with imports from the South American producer reaching a seven-year high. According to the report, more than three-quarters of all Venezuelan crude purchases by Indian buyers are now going to a single compan
09 Oct 2026 · 2 min read
Vitol CEO: Gulf Ship-to-Ship Transfers Stave Off $200 Oil
Russell Hardy, chief executive officer of Vitol Group, the world's biggest independent oil trader, has warned that ship-to-ship (STS) transfers in the Gulf of Oman are critical to keeping oil flowing from the Middle East. Speaking at the Energy Intelligence Forum in London this week, Hardy described
09 Oct 2026 · 1 min read
SpaceX Seeks Approval for 32-Mile Florida Gas Pipeline
SpaceX is seeking regulatory approval to build a 32.4-mile natural gas pipeline in Florida that would supply the company's expanding launch operations at Cape Canaveral. The application was filed by Coastal Connect Services, a SpaceX subsidiary, which has requested approval of a tariff from the Flor
08 Oct 2026 · 1 min read
Depleted Oil Stocks Lift Price Floor as Iran War Drags On
Global oil inventories have been drawn down to the point where they offer little protection against further disruption, according to senior industry executives who spoke this week. With the Iran war now in its eighth month, the stock draw has left the market with few buffers to absorb a supply shock
08 Oct 2026 · 1 min read
Tariffs Put South Korea at Center of Alaska LNG Financing
Alaska LNG, a project debated for decades and long held back by its cost and technical complexity, may have found the ingredient its economics have lacked: a prospective investor. Washington's tariff pressure is now doing what the project's commercial case alone has not, drawing foreign interest in
08 Oct 2026 · 1 min read
API Estimates US Crude Stocks Fell 2.09 Million Barrels
The American Petroleum Institute estimated that US crude oil inventories declined by 2.09 million barrels in the week ending October 2, according to data cited by Oilprice. The weekly figures from the API are closely followed by market participants as an early indicator of the direction of American
07 Oct 2026 · 1 min read
US LNG exporters gain as Hormuz standoff drags on
A March Iranian strike on Qatar's Ras Laffan complex took 17% of the country's LNG export capacity offline, and nearly seven months into the war the Strait of Hormuz remains difficult to transit. An Oilprice analysis argues the market response initially looked straightforward: buy shares in American
07 Oct 2026 · 1 min read
Brent Holds Above $100 Despite Recovered Hormuz Flows
Brent crude has held above $100 per barrel for most of the past month, even as a series of reports indicates that Middle East crude flows have returned to normal. The benchmark traded at about $60 before the war, so the current level represents a premium of roughly $40 that has now persisted for wee
07 Oct 2026 · 1 min read
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