Oil & Upstream

Crude oil, OPEC+, US shale and upstream energy market news and analysis for commodity traders.

ULSD Heating Oil's Policy Bull Case Runs Into August's Demand Trough

Libyan Protesters Enter Mellitah Complex as Output Nears Record Highs

ADNOC Abandons Murban-Linked Pricing for Three Offshore Grades, Switches to Dubai Formula

BP Markets North Sea Oil Business Months After Firing Its Chairman

EIA Reports 7.2 Million Barrel Crude Draw as SPR Falls to 43-Year Low

Opinion: Halliburton Waited for the Oil Windfall. E&P Operators Are Keeping It.

Venezuela's Oil Recovery Stalls as Political Transition Drags and Grid Failures Mount

Venezuela 31 Jul

UCLA Plastic-to-Hydrogen Technique Gets Fresh Look as Gulf Shipping Risk Persists

Wood Mackenzie Pegs Upstream Windfall at $495 Billion as Iraq Output Stays Shut

Iran's Dual Economy Absorbs Sanctions While August Oil Waiver Expiry Approaches

Crude Benchmarks Head for 20% Monthly Surge as Hormuz Traffic Begins to Recover

Strait of Hormuz 31 Jul

Valero Q2 2026: Benicia Gone, California Capacity Shrinking — CARBOB Crack Spread Structurally Tighter

Saudi Arabia Weighs $5 Asia Price Hike as Two-Choke-Point Squeeze Tightens

Saudi Arabia 31 Jul

Kazakhstan's CPC Pipeline Resumes After Week-Long Black Sea Shutdown

Crude's 6% diplomatic selloff runs ahead of actual Hormuz supply restoration

Strait of Hormuz 31 Jul

Saudi Arabia's War-Fuelled Oil Revenue Cuts Q2 Budget Deficit by Three-Quarters

Saudi Arabia 31 Jul

China's 1.4 Billion-Barrel Buffer Kept Oil Markets From Breaking

BP Completes Second Atlantis Expansion, Lifts Gulf Deepwater Capacity by 10,000 Boed

Egypt's Damietta Drone Strike Puts Oil Traders on the Wrong Side of a Converging Risk

REalloys Pays $20.6 Million for Priority Access to Saskatchewan Rare Earth Processing

Saudi State Shipper Bahri Sets Profit Record as Kingdom's Energy Rankings Slip

Saudi Arabia 31 Jul

Tokyo Gas Q1 Profit Falls 65% as Crude Costs Outpace Revenue Gains

Tokyo Gas 31 Jul

Crude traders add $19 billion in fresh contracts as Hormuz throughput stays stranded

Strait of Hormuz 31 Jul

Uranium ETFs Sell Off Even as Long-Term Price Hits 18-Year High

Oil Steadies Near $90 After Sharp Hormuz De-escalation Selloff as Strait Flows Stay Depressed

Strait of Hormuz 29 Jul

UK Gilt Yields Hold Near Two-Decade Highs as Oil Retreats From $100

United Kingdom 29 Jul

Brent Claws Back from June's $72 Crash but Remains Below Pre-Conflict Levels

Eni Doubles Quarterly Profit and Raises 2026 Buybacks to $3.9 Billion

Tamboran Completes Beetaloo's Biggest Well Campaign as Australia's Gas Exploration Hits Decade High

Australia 29 Jul

U.S. Diesel Futures Jump 26% in July as Refined Fuel Shortage Eclipses Crude Concerns

United States 29 Jul

Fed Rate Hike Odds Hold at 81% as NYMEX Gasoline Surges on Wednesday

Heating Oil's 3.9% Jump Widens the Gap With Crude's Muted Response to Hormuz Risk

Iran Diplomacy Sends ICE Brent Sliding While U.S. Energy Affordability Fights Intensify

WTI Surges 7% While RBOB Gasoline Drops 4% as Hormuz Stall Splits the Barrel

TEPCO Cancels Spent Nuclear Fuel Shipment from Kashiwazaki-Kariwa to Aomori

Trump Claims $13 Billion in Venezuelan Oil Revenue Since January Raid

Venezuela 28 Jul

Big Tech's $725 Billion AI Spending Plan Faces Oil Supply Shock Test

Britain's 78% tax rate hollows out North Sea as Norway reopens fields and eyes Arctic drilling

United Kingdom 28 Jul

Eni and TotalEnergies Greenlight Cyprus Cronos Field in Mediterranean's First Hydrocarbon Development

Demand Math and Short Positioning Challenge Brent's War-Premium Revival

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