Crude Oil News

Iran warns of ‘more painful’ response to U.S. attacks as economic pressure mounts https://www.cnbc.com/2026/09/06/iran-us-response-oil-tanker-strikes.html Iran warned of faster, heavier retaliation against U.S. attacks while acknowledging the war’s mounting toll on its economy.

Equinor Starts Up 100 MW Energy Storage Project in Texas https://www.rigzone.com/news/equinor_starts_up_100_mw_energy_storage_project_in_texas-06-sep-2026-184546-article/?rss=true Equinor said the 200-mWh Citrus Flatts battery energy storage facility in Harlingen, Texas is now online.

Russia's Oil Revenue Sinks to 6 Month Low https://www.rigzone.com/news/wire/russias_oil_revenue_sinks_to_6_month_low-05-sep-2026-184544-article/?rss=true Russia's oil revenue slumped to a six-month low in August.

This enhanced geothermal project aims to unlock gigawatts of power to fuel the data center boom https://www.cnbc.com/2026/09/05/fervo-energys-enhanced-geothermal-project-aims-to-power-data-center-boom.html Power demand in the U.S. is rising. Fervo Energy bets that its project in Utah will prove that enhanced geothermal can be part of the power mix going forward.

Trump’s state capitalism comes to the oil industry with his unprecedented Venezuela deal https://www.cnbc.com/2026/09/05/trump-venezuela-oil-north-america-blue-energy-partners-nabep.html The deal comes eight months after Washington ousted former President Nicolás Maduro in a military raid.

Yen’s Appreciation Potential May Be Running Out https://www.marketpulse.com/markets/yens-appreciation-potential-may-be-running-out/ The yen’s medium-term outlook remains constructive, but much of the expected Bank of Japan tightening may already be priced in. With weak consumption limiting the scope for aggressive rate hikes, USD/JPY may consolidate near 155 unless the BoJ or Japan’s GPIF provides a fresh catalyst.

Oil Holds Gains https://www.rigzone.com/news/wire/oil_holds_gains-04-sep-2026-184547-article/?rss=true Oil ended a volatile week 9.7% higher as renewed US-Iran fighting kept Hormuz supply risks elevated.

USA Retail Diesel Hits Record https://www.rigzone.com/news/wire/usa_retail_diesel_hits_record-04-sep-2026-184542-article/?rss=true U.S. retail diesel rose to a record.

USA Crude Oil Stocks Drop Week on Week https://www.rigzone.com/news/usa_crude_oil_stocks_drop_week_on_week-04-sep-2026-184545-article/?rss=true Crude oil stocks, not including the SPR, stood at 424.5 million barrels on August 28, the EIA's latest weekly petroleum status report showed.

Eni Finalizes Venezuelan Deal for 35Bbbl Field https://www.rigzone.com/news/eni_finalizes_venezuelan_deal_for_35bbbl_field-04-sep-2026-184543-article/?rss=true Eni secured a 25-year agreement with state-owned PdVSA to relaunch activities at the Junin-5 heavy oilfield in the Orinoco Belt.

Diesel hits record high as Ukraine and Iran wars knock out refineries, fueling inflation worries https://www.cnbc.com/2026/09/04/diesel-price-record-high-ukraine-iran-inflation.html Higher prices come as Ukraine pounds Russian refineries, forcing Moscow to ban diesel exports.

EnQuest Trims Losses https://www.rigzone.com/news/enquest_trims_losses-04-sep-2026-184541-article/?rss=true The London-based company, whose production comes from the UK's side of the North Sea and Southeast Asia, reported a net loss of $24.83 million for H1 2026, improving from -$39.94 million for H1 2025 on higher production and higher oil prices.

Atlantic Hurricane Season Remains Most Tranquil Since 1941 https://www.rigzone.com/news/wire/atlantic_hurricane_season_remains_most_tranquil_since_1941-04-sep-2026-184540-article/?rss=true The world's second-largest ocean hasn't been this docile since 1941.

Vaca Muerta Estimated to Hold 9B Barrels of Sub $55 Oil Resource https://www.rigzone.com/news/vaca_muerta_estimated_to_hold_9b_barrels_of_sub_55_oil_resource-04-sep-2026-184539-article/?rss=true EIR director Andy McConn said 'Vaca Muerta's growth potential and low-cost competitiveness are a rare combination in today's upstream market'.

Shell Completes Acquisition of Montney Major ARC https://www.rigzone.com/news/shell_completes_acquisition_of_montney_major_arc-04-sep-2026-184538-article/?rss=true Shell completed its acquisition of ARC Resources, a leading producer in Canada's Montney shale, for around $16.5 billion including assumed debt.

Analysts Still Expect USA-Iran Deal by End-September https://www.rigzone.com/news/analysts_still_expect_usairan_deal_by_endseptember-04-sep-2026-184537-article/?rss=true Analysts at BMI revealed that their base case still assumes a preliminary agreement to reopen the Strait of Hormuz by the end of the third quarter.

Argentina's Milei escalates Falklands dispute as Trump questions U.S. support for Britain https://www.cnbc.com/2026/09/04/argentina-milei-falklands-oil-uk-trump.html Argentina's President Javier Milei has renewed the country's claim to the Falkland Islands and threatened sanctions on oil companies.

ADNOC Keeps Loading LNG Tankers in Gulf https://www.rigzone.com/news/wire/adnoc_keeps_loading_lng_tankers_in_gulf-04-sep-2026-184536-article/?rss=true ADNOC appears to be continuing to load liquefied natural gas onto tankers in the Persian Gulf, according to satellite images, despite ongoing disruptions to energy flows through the Strait of Hormuz and a recent escalation of hostilities.

European Union joins U.S.-led 'Operation Economic Outcast' as Iran cries foul https://www.cnbc.com/2026/09/04/us-iran-war-trump-hormuz-operation-economic-outcast-sanctions-campaign.html The bloc's endorsement came as the Group of 20 finance ministers and central bank governors gathered in Asheville, North Carolina, earlier this week.

Trump-promoted Freedom Fuel expands to Detroit as lawsuit over supplier's unpaid fuel heats up https://www.cnbc.com/2026/09/03/freedom-fuel-trump-lawsuit-detroit.html Freedom Fuel won free publicity when President Donald Trump urged other gas retailers to emulate its low prices in July.