The latest oil and gas news from around the world.
Updated: 33 min 15 sec ago
Oil Settles Higher
Oil prices rose as the US intensified strikes on Iran, heightening concerns over Middle East crude supplies despite weaker US fuel demand data.
USA EIA Raises Henry Hub Price Forecast for 2026, 2027
The U.S. Energy Information Administration raised its Henry Hub natural gas spot price projection for 2026 and 2027 in its latest short term energy outlook.
Russia Oil Sanctions Threat Could Complicate USA-India Talks
Fresh U.S. threats to impose sanctions on countries buying Russian oil may complicate ongoing trade negotiations between Washington and New Delhi, according to people familiar with the matter.
Asian Oil Refiners Scoop Up USA Crude
At least 11 million barrels of U.S. crude were sold to Asia late on Tuesday, and more deals may follow, according to traders.
USA Oil, Gas Workforce Drops from May to June
The number of employees in the oil and gas extraction industry dropped from May to June, data on the U.S. Bureau of Labor Statistics website showed.
BMI Says Outlook for Oil Prices in Q3 Now Highly Uncertain
The outlook for oil prices in the third quarter of 2026 is now highly uncertain, analysts at BMI warned.
IMO SecGen Says Hormuz Is Too Dangerous for Ships
The International Maritime Organization said the Strait of Hormuz remains too dangerous for commercial vessels to transit.
Ukraine Says It Hit Russian Oil, Gas Tankers in Black Sea
Ukrainian forces hit multiple Russian vessels in the Black Sea overnight.
Oil Hits One-Month High
Oil climbed to a one-month high as renewed Middle East fighting heightened concerns over supplies through the Strait of Hormuz.
Vedanta Oil to Invest $5B to Boost Production Fivefold
Vedanta Oil and Gas Ltd. will invest $5 billion to expand production by more than five times.
Ukraine Hits Russian Refineries, Ships, Moscow Hits Odesa
Kyiv struck a slew of Russian energy targets overnight, while Moscow hit fuel facilities in the Ukrainian port of Odesa.
North America Drops Rigs for 1st Time in Months
North America's rig count dropped by 10 rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Escalations Damage Hormuz Media Narrative
Escalations over the past week have damaged the media narrative that has built up over the past few weeks, Standard Chartered Bank Energy Research Head Emily Ashford told Rigzone.
Cross-Industry Group Issues Letter to Incoming UK Gov
A 'powerful' cross-industry group is delivering a 'strongly worded letter' to the incoming UK government, a statement sent to Rigzone by OEUK recently noted.
BP Flags $1B Writedown from Low Carbon Business
BP said it expects to write down another $1 billion from energy transition assets in the second quarter.
Houthis Strike Saudi Arabia in Major Escalation
The Iran-backed Houthi group in Yemen fired ballistic missiles and drones on Saudi Arabia.
Oil Soars on Hormuz Blockade
Oil surged after President Trump announced plans to reinstate a blockade on Iranian shipping and impose fees on cargo moving through the Strait of Hormuz.
Russian Refinery Runs Plunge to Lowest in More Than 2 Decades
A wave of Ukrainian attacks has pushed Russian refining runs to the lowest in more than 21 years.
UAE Tells OPEC Its Oil Production Surged Last Month
The United Arab Emirates informed OPEC that its oil production surged by 80 percent last month.
USA Strategic Petroleum Reserve is 56 Percent Empty
Or 44 percent full - depending on how you want to look at it.
