Crude Oil News

US: Softer jobs data strengthen the case for a Fed pause https://www.marketpulse.com/markets/us-softer-jobs-data-strengthen-the-case-for-a-fed-pause/ US payrolls rose by just 29,000 in September, while revisions cut July and August employment by a combined 60,000. Unemployment increased to 4.2% and annual wage growth slowed to 3.0%. The report strengthens the case for an October Fed pause, potentially weighing on the dollar and Treasury yields while supporting gold.

Oil Falls as G7 Taps Emergency Supplies https://www.rigzone.com/news/wire/oil_falls_as_g7_taps_emergency_supplies-02-oct-2026-184766-article/?rss=true Diesel and oil prices fell as G7 nations moved to release emergency supplies.

Canada PM Invokes New Powers to Fast-Track Oil Pipeline https://www.rigzone.com/news/wire/canada_pm_invokes_new_powers_to_fasttrack_oil_pipeline-02-oct-2026-184763-article/?rss=true Prime Minister Mark Carney is expediting regulatory approval for a new, high-capacity oil pipeline to expand Canada's access to Asian markets.

USA Crude Oil Stocks Rise Almost 1MM Barrels WoW https://www.rigzone.com/news/usa_crude_oil_stocks_rise_almost_1mm_barrels_wow-02-oct-2026-184765-article/?rss=true Commercial crude oil stocks, not including the SPR, came in at 427.320 million barrels on September 25, the EIA's latest weekly petroleum status report showed.

Chevron Replenishes Exploration Stake in Namibian Orange Basin https://www.rigzone.com/news/chevron_replenishes_exploration_stake_in_namibian_orange_basin-02-oct-2026-184756-article/?rss=true Operator Chevron will acquire Custos' 10 percent stake in PEL 90, partly offsetting the U.S. energy giant's pending farm-out to Equinor.

Oil prices fall on report of potential diesel, crude stock release; Brent back below $100 https://www.cnbc.com/2026/10/02/oil-wti-brent-diesel-stock-release-europe.html It comes after Reuters reported that EU nations were discussing a proposal to release diesel reserves following pressure from the Trump administration.

Trump wants South Korea in on Alaska LNG. Here’s why Seoul is cautious https://www.cnbc.com/2026/10/02/trump-wants-south-korea-in-on-alaska-lng-heres-why-seoul-is-cautious.html South Korea remains cautious on Alaska LNG amid concerns over its high costs and commercial risks.

U.S. urges Europe to ‘immediately’ release diesel reserves as Iran war fuels record prices https://www.cnbc.com/2026/10/02/diesel-oil-trump-europe-export-ban.html EU countries are set for crisis talks on soaring diesel prices, with officials warning a U.S. export ban could hurt Europe’s economic outlook.

Iran Wants Sanctions Eased to Allow Back Nuclear Inspectors https://www.rigzone.com/news/wire/iran_wants_sanctions_eased_to_allow_back_nuclear_inspectors-02-oct-2026-184755-article/?rss=true The concession could help break deadlocked peace talks with the U.S.

U.S. to send third carrier group to Mideast as Trump warns of new Iran strikes https://www.cnbc.com/2026/10/02/us-iran-war-trump-hormuz-.html The U.S. is reportedly sending a third aircraft carrier strike group to the Middle East, as Trump weighs resuming bombing Iran after the midterms.

U.S. trade representative Greer says deal with India not 'imminent' after Modi-Trump call https://www.cnbc.com/2026/10/02/us-india-trade-modi-trump-russia-oil.html Ties between the U.S. and India have been under strain for over a year, and New Delhi faces fresh risk of up to 100% tariffs for continuing to buy Russian oil.

Europe Holds Emergency Diesel Talks https://www.rigzone.com/news/wire/europe_holds_emergency_diesel_talks-01-oct-2026-184749-article/?rss=true Key European nations are holding emergency talks on how to respond to U.S. pressure to release strategic fuel reserves.

Amplitude Energy Goes Ahead with East Coast Supply Project https://www.rigzone.com/news/amplitude_energy_goes_ahead_with_east_coast_supply_project-01-oct-2026-184748-article/?rss=true To be developed using existing infrastructure, ECSP is expected to begin production 2028.

Analysts Look at WTI-Brent Spread https://www.rigzone.com/news/analysts_look_at_wtibrent_spread-01-oct-2026-184747-article/?rss=true Rigzone talks to analysts from the PRICE Futures Group and B. Riley Wealth.

Europe’s winter energy crunch may already be underway. Two U.S. stocks that may benefit https://www.cnbc.com/2026/10/01/europes-winter-energy-crunch-may-already-be-underway-two-us-stocks-that-may-benefit.html BP's largest oil discovery in 25 years. What it means for the stock.

Eni's Renewables Arm Gets Capital Raise under New Shareholding Structure https://www.rigzone.com/news/enis_renewables_arm_gets_capital_raise_under_new_shareholding_structure-01-oct-2026-184746-article/?rss=true Eni and Ares completed a transaction to inject new capital into the business that holds the Italian oil and gas major's renewable energy assets.

JPM Flags 'Remarkable Recovery' for Oil Market https://www.rigzone.com/news/jpm_flags_remarkable_recovery_for_oil_market-01-oct-2026-184745-article/?rss=true The Middle East's oil export arteries are flowing again, analysts at J.P. Morgan said.

China Fuel Exporters Cancel Some Cargoes https://www.rigzone.com/news/wire/china_fuel_exporters_cancel_some_cargoes-01-oct-2026-184744-article/?rss=true Chinese fuel exporters have canceled some oil-product cargoes slated for export in October, as Asia's top consumer prioritizes domestic supply during an extended period of upheaval in global energy markets.

South Korean President Lee pushes back on Alaska LNG project after Trump touts Seoul's participation https://www.cnbc.com/2026/10/01/trump-south-korea-investment-alaska-lng-nuclear-power.html The U.S. announced plans for up to $200 billion in South Korean investment, though Seoul has yet to finalize the participation in the Alaska LNG project.

Oil falls as Middle East exports recover easing supply worries https://www.cnbc.com/2026/10/01/oil-prices-today-wti-brent.html Oil prices were lower, as concerns over stalled U.S.-Iran talks were offset by a rebound in Mideast oil exports