Oil Extends Wednesday Rally
Brent crude is trading slightly higher this morning, extending yesterday’s rally as the geopolitical risk premium was repriced higher on renewed U.S.-Iran tensions. That’s what Ole R. Hvalbye, a commodities…
U.S. Crude Oil Inventories Plunge Following Massive Build
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 609,000 barrels in the week ending February 13, after increasing by 13.4 million barrels…
Libya Awards Fuel Supply Deals To Western Firms, Aims To Cut Russian Imports
Giant oil and commodity traders, including Vitol and Trafigura, alongside French Oil & Gas multinational TotalEnergies (NYSE:TTE), have won tenders to supply Libya with diesel and gasoline in a clear…
Ovintiv To Sell Anadarko Energy Assets In $3 Billion Deal
Canada-based energy firm, Ovintiv Inc. (NYSE: OVV), has entered into a definitive agreement to sell its Oil & Gas assets in the Anadarko Basin in Oklahoma to an undisclosed buyer…
Russia Slows Oil Drilling as Funds under Pressure
Russia’s oil producers reduced the pace of drilling in 2025 to the lowest level in three years, dimming the outlook for output growth this year as Western sanctions and a…
