Oil Supply Risks Mount as Iran Lays Mines in Strait of Hormuz

Iran has begun laying naval mines in the strategically vital Strait of Hormuz, according to two people familiar with U.S. intelligence reporting, in what analysts warn could extend the effective…

US Crude Oil Inventories Sag As Iran War Bolsters Prices

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.7 million barrels in the week ending March 6, after adding 5.6 million barrels…

War Creating Most Severe Energy Disruption Since 1970s

The escalating war between the U.S., Israel, and Iran is creating the most severe disruption to global energy markets since the 1970s, GlobalData said in a statement sent to Rigzone…

IEA Mulls Emergency Action To Unleash Oil Reserves

Global energy leaders are gathering to decide whether to release emergency oil reserves as production and export disruptions tied to the Middle East conflict continue to strain global markets. The…

Chevron, Shell Closing in on First Big Oil Production Deals in Venezuela Since US Captured Maduro

(Reuters) – International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January,…

US Natgas Output to Hit Record High in 2026, While Demand Declines, EIA Says

(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its short-term energy outlook on…