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🟢 VDE surges 3% as escalating geopolitical tensions in the Strait of Hormuz and a refinery attack drive oil prices higher
• VDE is trading about 3% higher today, with the energy sector outperforming as crude oil prices rebound sharply. • Geopolitical tensions escalated on July 7,...
OPEC+ boosts oil output by 188,000 barrels, as supply risks fade
Seven OPEC+ members, including Saudi Arabia and Russia, will increase crude production by 188,000 barrels per day starting August 2026. The alliance confirmed...
OPEC+ boosts August oil output, as prices drop to $72 per barrel
Seven OPEC+ nations, including Saudi Arabia and Russia, approved a production increase on July 5, 2026. The group will add 188,000 barrels per day to the...
ExxonMobil Surrenders 850,000 Offshore Acres, Citing Regulatory Delays
ExxonMobil surrendered 163 federal leases in the Gulf of Mexico. This move relinquishes 850,000 acres previously designated for a major offshore carbon...
Transocean Lands $1 Billion Equinor Deal, Signaling Sustained Offshore Demand
Transocean Ltd. secured an agreement with Equinor for three harsh-environment semisubmersible rigs on the Norwegian Continental Shelf. The contract adds over...
NextDecade Prices $3.5B Debt Sale, Securing Massive Rio Grande LNG Project
NextDecade Corp. priced a $3.5 billion sale of senior secured notes to fund its Rio Grande LNG export terminal in Brownsville, Texas. The offering includes...
Matador JV buys Cardinal Midstream for $752M to scale Delaware Basin operations
Matador Resources’ joint venture, San Mateo Midstream, agreed to acquire Cardinal Midstream Partners’ subsidiaries for $752 million in cash. The acquisition...
Slavyansk oil refinery hit by Ukrainian drones, heightening global supply risks
Ukrainian drones attacked the Slavyansk-na-Kubani oil refinery in Russia’s southern Krasnodar region. Debris from intercepted drones ignited a fire at the...
Chevron Inks 20-Year Microsoft Deal, Powering AI with Natural Gas
Chevron and Microsoft signed a 20-year agreement to power a massive West Texas data center. The deal directly links Permian Basin natural gas production to the...
Chevron to Build 2.67GW Gas Plant, Powering Microsoft AI Expansion
Chevron signed a 20-year power purchase agreement with Microsoft to develop the Kilby natural gas facility. The West Texas plant will generate 2.67 gigawatts...
Oil prices hit four-month lows, as US-Iran deal reopens Hormuz
Oil prices reached their lowest levels in nearly four months as shipping traffic through the Strait of Hormuz increased. Brent crude dropped to $73.87 per...
Trump Orders DOJ Investigation Into Oil Majors, Citing High Gas Prices
President Donald Trump instructed the Department of Justice to investigate major oil companies for potential price gouging. The probe follows a significant...
Chevron to Build 2.67GW Power Plant for Microsoft, Targeting AI Growth
Chevron will build and operate a 2.67-gigawatt natural gas facility in West Texas. The project will supply electricity to a Microsoft data center under a...
Iran Closes Strait of Hormuz, Citing US Breach and Lebanon Conflict
Iran announced a renewed closure of the Strait of Hormuz to all vessel traffic. The move follows an alleged U.S. breach of contract and Israeli military...
DOE Funds Arizona Coal Plant Modernization, Targeting AI Energy Needs
The U.S. Department of Energy (DOE) awarded approximately $21 million to the Arizona Electric Power Cooperative. The funding will modernize the Apache...
Kuwait Ramps Oil to 2M BPD, Reopening the Strait of Hormuz
Kuwait will increase oil production to two million barrels per day within one week. This surge follows the reopening of the Strait of Hormuz after a US-Iran...
Equinor approves Ringvei Vest concept, targeting 240 million barrels
Equinor and its partners have approved the development concept for the Ringvei Vest project in the North Sea. This subsea development consolidates seven...
U.S.-Iran deal reopens Strait of Hormuz, pushing oil below $80
Details of a preliminary U.S.-Iran peace agreement emerged on June 17. The deal mandates the immediate reopening of the Strait of Hormuz. Iran will resume oil...
ConocoPhillips signs Syria gas deal, first US major to return
ConocoPhillips will sign a contract with Syria’s new government to restart natural gas production. This agreement makes ConocoPhillips the first major U.S....
U.S. and Iran reach peace deal, crashing oil prices on Hormuz reopening
President Donald Trump confirmed an initial peace agreement between the United States and Iran on June 15, 2026. The deal includes plans to reopen the Strait...