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Brent Hits $111, as Strait of Hormuz Closure Drains Global Reserves
Brent crude oil reached $111 per barrel on Monday. WTI crude surpassed $107 during the same session. The continued closure of the Strait of Hormuz drove the...
ExxonMobil Golden Pass LNG hosts Energy Secretary, highlighting strategic export growth
U.S. Secretary of Energy Chris Wright visited the Golden Pass LNG export facility in Texas on May 17. QatarEnergy owns 70% of the joint venture, while...
NextEra and Dominion Discuss Merger, Driven by AI Energy Needs
NextEra Energy (NYSE:NEE) is reportedly in merger talks with Dominion Energy to combine two of the largest U.S. utility companies. The potential deal would...
UAE Quits OPEC, Seeking Full Control Over Oil Production
UAE Energy Minister Suhail Al Mazrouei confirmed the nation’s withdrawal from OPEC and OPEC+ as a sovereign strategic choice. He stated the decision followed a...
WTI Crude hits $104, as Hormuz closure sparks global supply crisis
WTI crude oil futures rose over 3% on May 15. Prices exceeded $104 per barrel as the Strait of Hormuz remained effectively closed. A high-stakes summit between...
WTI Crude Surges Above $104, Driven by Strait of Hormuz Closure
WTI crude oil futures rose over 3% on May 15. Prices exceeded $104 per barrel as the commodity headed for a significant weekly gain. The Strait of Hormuz...
Caturus Greenlights $13 Billion Louisiana LNG Project After Securing Major Financing
Caturus LLC reached a positive Final Investment Decision (FID) for its Commonwealth LNG export facility in Cameron Parish, Louisiana. The company secured $9.75...
ADNOC to double oil bypass capacity, securing exports against Hormuz risks
The United Arab Emirates will double its crude oil export capacity that bypasses the Strait of Hormuz. State-owned Abu Dhabi National Oil Co. (ADNOC) is...
Trump and Xi Vow to Keep Hormuz Open, Boosting Oil Prices
U.S. President Donald Trump and Chinese President Xi Jinping concluded a two-day summit in Beijing by declaring the Strait of Hormuz must remain open. This...
OPEC+ pursues oil production hikes, targeting full supply restoration by 2026
OPEC+ will continue gradually increasing oil production quotas to restore 1.65 million barrels per day of output by September 2026. Saudi Arabia and Russia...
Abu Dhabi Fund Backs $13B Kimmeridge LNG Project Amid Global Supply Risks
An Abu Dhabi sovereign wealth fund committed to a significant investment in Kimmeridge Energy Management’s $13 billion LNG export terminal. The Commonwealth...
Ukraine Strikes Ryazan Oil Refinery, Disrupting Russian Energy Supplies
Ukraine launched a large-scale drone attack on May 15, striking energy infrastructure in multiple Russian regions. Social media reports indicate a significant...
House Panel Advances $58.5B Energy Bill, Boosting Nuclear and Curbing China
The House Appropriations energy subcommittee began marking up the $58.5 billion Fiscal Year 2027 Energy and Water Development bill. The legislation...
Brent crude crashes 15%, US-China deal reopens Strait of Hormuz
The Strait of Hormuz officially reopened to maritime traffic on May 15 following a landmark agreement between the U.S. and China. Officials announced the deal...
Trump and Xi Vow to Open Strait of Hormuz, Cooling Oil Prices
President Donald Trump and President Xi Jinping agreed to keep the Strait of Hormuz open during a Beijing summit. A White House readout confirmed both leaders...
Iran Eases Hormuz Blockade, Sinking Oil Prices After Trump-Xi Summit
Iranian state media reported on May 14 that approximately 30 vessels were permitted to transit the Strait of Hormuz. This group included several Chinese...
OPEC+ raises output quotas, as war blocks key oil export routes
Key OPEC+ members will continue monthly production quota increases through September. The group aims to fully reverse the 1.65 million barrel-per-day supply...
IEA warns of unprecedented supply shock, citing Strait of Hormuz closure
The International Energy Agency (IEA) warns of an unprecedented supply shock in its May Oil Market Report. The ongoing closure of the Strait of Hormuz is...
China Seeks Increased US Oil Imports, Bypassing Blocked Hormuz Strait
President Xi Jinping signaled interest in increasing U.S. oil purchases during a Beijing summit with President Trump, according to a White House official. This...
IEA warns of record oil shortage, citing Strait of Hormuz shutdown
The International Energy Agency (IEA) warns global oil inventories are depleting at a record pace. The ongoing Middle East conflict and the Strait of Hormuz...