Oil Falls 5% on US-Iran De-Escalation

Summary Prices fall from multi-month highs as U.S.-Iran tensions ease Trump says Iran ‘seriously talking’ with Washington Geopolitical risks mask a bearish oil market, analysts say (Reuters) – Oil prices…

CONFIRMED: Devon, Coterra Merge to Create U.S. Shale Giant in $58 Billion Deal

Devon, Coterra merge to create U.S. shale giant in $58 billion deal Feb 2 (Reuters) – Devon Energy  and Coterra Energy  on Monday decided to merge in a $58 billion all-stock deal,…

Two Things OPEC+ Can’t Control. Trump and China Imports: Russell

Reuters There are two factors that are largely beyond the control of OPEC+ and they are likely to determine the price of crude oil in the coming weeks. Get the…

BP’s Whiting Refinery Union Workers Agree to 24-Hour Rolling Extension

United Steelworkers members at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana agreed to a rolling 24-hour contract extension at the largest refinery in the U.S. Midwest, the company said in a…

Analysts Explain Energy ‘Bloodbath’

In a statement sent to Rigzone on Monday, Naeem Aslam, CIO of Zaye Capital Markets, said energy’s “bloodbath” today is a “classic risk-premium unwind”. “Trump’s ‘serious talks’ with Iran vaporized…

After Years Offline, Trinidad Looks to Indian Oil to Restart Refining

Trinidad and Tobago is once again trying to bring its long-idled one-and-only oil refinery back to life, but this time the government is talking to Indian Oil Corp about making…

OPEC+ Extends Output Pause Amid Glut Concerns

OPEC+ confirmed its plans to extend the pause on crude oil production hikes to March this year, citing “healthy oil market fundamentals as reflected in low inventories.” In a press…

Natural Gas Prices Plummet on Warmer February Forecast

Natural gas prices in the United States dropped by 17% in Asian trade on Monday, driven by forecasts for milder weather in the coming weeks. Data from the National Oceanic…