Oil & Upstream

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

WTI Falls Back Below $80 as Oil's Brief Break Above $100 Reverses

China's EV Charging Hits April Record as Sinopec Gasoline Sales Drop 8%

Russia's Urals Rebounds From Early-July Low as Sanctions Squeeze Export Buyers

Crude selloff prices in a ceasefire that exists only on paper

Japan's crude procurement recovery undermines the bearish consensus on Dubai crude

Dubai Crude 27 Jul

Sir Ian Wood, who built Wood Group into a North Sea powerhouse, dies at 84

United Kingdom 27 Jul

Brent's retreat from $100 leaves three supply risks underpriced

Energy Shock and Big Oil Profits Put Republican Incumbents on Defense

Oil traders are pricing a ceasefire. China's refinery data complicate the bear case.

Inpex begins appraisal drilling for Greater Tokyo CCS project with 5 Mtpa pipeline target

Serica Lines Up $750 Million as UK North Sea Operators Push into Asia and Egypt

United Kingdom 27 Jul

ICE Brent Slides to $90.62 as US-Iran Pause Cuts Fed Rate Hike Odds to 36%

US-Iran Attack Pause Drives Brent Through Two-Day, Near-9% Retreat

Brent Retreats to $87 as $100 Breach Sharpens Political Pressure on Trump

CNOOC and CNPC Press Clean Energy Expansion as Chinese Crude Exposure Persists

Vaca Muerta Breaks Output Record as International Banks and Oil Majors Back Argentina Expansion

Argentina 26 Jul

Brent Front-Month Drops 4% From $100 as Supply Evidence Undercuts Geopolitical Premium

EIA Reports U.S. Crude Build and Rising Gasoline Stocks in July 17 Week

Heating Oil Slides 2% as UK Policy Limbo Clouds Winter Demand Outlook

DOE Calls Solar's Night Hours a Failure as Daytime Output Hits 40% of Mid-Atlantic Grid Supply

United States 26 Jul

Goldman's demand destruction warning challenges oil's supply-loss consensus above $100

Saudi crude keeps moving through Red Sea corridors as Brent's $100 ceiling crumbles

Saudi Arabia's Yanbu Redirect Put Its Oil Exports in the Houthis' Crosshairs

Saudi Arabia 26 Jul

Oil's $20 rebound from its June low signals trader doubt that the Iran deal holds

Oil's Break Through $100 Pushes UK Gilt Yields to Near-20-Year Highs and Lifts Fed Hike Odds to 81%

United Kingdom 25 Jul

Google Turns to Third-Party Compute as Power Constraints Slow its Own Data Center Build

Uranium Equities Fall Behind an 18-Year Price Record as Sprott Calls the Selloff Overdone

Brent crude bulls face a hawkish Fed and an overstated supply shock as the $100 level fails to hold

BP's Ousted Chairman Publicly Disputes the Conduct Case Against Him

Spain's Medgaz deal and OPEC+'s output push add supply-side offsets to the bull gas narrative

Iran's Unmet Export Demands Are Keeping Oil's Diplomatic Sell-Offs Short-Lived

ICE Brent Nears $99 as Depleted Crude Inventories Limit Room for Another Shock

Uzbekistan Gold Record Swells Navoi's Budget as Uranium Equities Retreat

ScottishPower Commits £1.5bn to Double Whitelee Capacity to 1 GW by 2035

United Kingdom 25 Jul

Cuba's Solar Push Reflects a Grid Running on Empty

Venezuela 25 Jul

EIA Reports First U.S. Crude Build in Weeks, Adding Downward Pressure on WTI

Zelensky Fails to Defuse Protests Over Fedorov Firing With Vague Job Offers

Bloomberg Analyst Warns Against Fed Rate Hike Into Energy Supply Shock

Indian downstream stocks absorb crude's return to $98 while US equity volatility stays compressed

Washington Signs 30-Year Nuclear Pact With Riyadh as Enrichment Provisions Draw Alarm

United States 25 Jul

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