Strait of Hormuz Fears Send California Gas Past $6 a Gallon

California’s average gasoline price surged to above $6 per gallon on Thursday, the first U.S. state to top this threshold since the Iran war rattled markets. The U.S. benchmark crude…

ENEOS Takes 10% Stake in Malaysia LNG Tiga in New Deal With Petronas

One of Japan’s biggest energy firms, ENEOS, is re-entering the joint venture operating the Malaysia LNG Tiga project with a 10% stake under a deal it has signed with Malaysia’s…

Valero Energy Beats Profit Estimates on Strong Refining Performance

April 30 (Reuters) – U.S. refiner Valero Energy (VLO.N) surpassed Wall Street expectations for first-quarter adjusted profit on ​Thursday, helped by strength in its refining segment, margins and throughput ‌volumes.…

Iran Threatens Painful Response if US Resumes Attacks, Oil Prices Seesaw

By and Iran vows painful response to any new US attack Trump to be briefed on options by US military US puts pressure on allies to help open Strait of…

ConocoPhillips Cuts Annual Production Targets as Iran War Disrupts Operations

By April 30 (Reuters) – Oil and gas producer ConocoPhillips (COP.N) on Thursday forecast a lower annual output ​and excluded Qatar from its near-term outlook, citing disruption to its ‌operations…

US Has More Natural Gas Than It Can Use as War Chokes Global Supply

By , , , and A gas flare near Mentone, Texas. Photographer: Bronte Wittpenn/Bloomberg Get the Latest US Focused Energy News Delivered to You! It’s FREE: As the Iran war…

Why $100 Oil is No Longer Spooking Equity Markets: Stephen Jen

(Reuters) – Why have global equity markets been so resilient to the Iran oil shock? Because $100 a barrel oil doesn’t mean what it used to. Brent crude has risen…

US Naval Blockade Squeezes Iran’s Oil Exports, Forces Crude Onto Floating Storage

(Reuters) – A U.S. naval blockade of Iranian ports has shrunk Tehran’s oil exports, stranding a growing stockpile of crude on tankers as Iranian storage sites run out of space,…

Russia Dismisses Price War Fears Following UAE Departure From OPEC+

Russia will remain in the OPEC+ group alongside the remaining OPEC members and doesn’t expect a price war following the abrupt exit of the United Arab Emirates, Russia’s Deputy Prime…

Crisis-Hit Southeast Asia Looks to Sign Petroleum Security Pact

The Association of Southeast Asian Nations (ASEAN) looks to ratify a petroleum security agreement, Philippine Trade Secretary Cristina Roque said on Thursday as Asian nations are reeling from the shock…