Crude Oil News

Oil falls as renewed diplomatic efforts to end Mideast conflict ease supply concerns https://www.cnbc.com/2026/10/27/oil-today-iran-us-crude-wti-brent-trump.html Renewed diplomatic efforts to end the U.S.-Israeli war with Iran pushed oil prices lower

Oil Dips from 6 Month High as Officials Meet in Tehran https://www.rigzone.com/news/wire/oil_dips_from_6_month_high_as_officials_meet_in_tehran-26-oct-2026-184936-article/?rss=true Oil retreated from a six-month high as senior officials from several countries flew to Tehran.

Pentagon's Venezuelan Oil Partner Boosts Output https://www.rigzone.com/news/wire/pentagons_venezuelan_oil_partner_boosts_output-26-oct-2026-184932-article/?rss=true Venezuela's overall oil output recently reached 1.252 million barrels a day, oil minister Hector Obregon said.

Transgaz, Kawasaki Ink Hydrogen Cooperation Agreement https://www.rigzone.com/news/transgaz_kawasaki_ink_hydrogen_cooperation_agreement-26-oct-2026-184935-article/?rss=true Kawasaki Heavy Industries and Transgaz signed a memorandum of understanding on energy cooperation that would see the Japanese company bring its hydrogen transmission technology into Europe.

North America Adds Rigs Week on Week, BH Count Shows https://www.rigzone.com/news/north_america_adds_rigs_week_on_week_bh_count_shows-26-oct-2026-184934-article/?rss=true North America added three rigs week on week, according to Baker Hughes' latest North America rotary rig count.

BP Gets New Settlement with Louisiana over Deepwater Horizon Disaster https://www.rigzone.com/news/bp_gets_new_settlement_with_louisiana_over_deepwater_horizon_disaster-26-oct-2026-184933-article/?rss=true BP reached an agreement with the state of Louisiana that will close lengthy litigation over the deadly Deepwater Horizon catastrophe in the Gulf of America in 2010, in exchange for an early but reduced payment of remaining claims.

Gulf Oil Bargains Lure India Away from Russia https://www.rigzone.com/news/wire/gulf_oil_bargains_lure_india_away_from_russia-26-oct-2026-184931-article/?rss=true Indian refiners are increasingly turning to Persian Gulf crude and pulling back from their mainstay supplier Russia.

Sembcorp Gets Conditional Approval to Import 1.3GW of Power into Singapore https://www.rigzone.com/news/sembcorp_gets_conditional_approval_to_import_13gw_of_power_into_singapore-26-oct-2026-184930-article/?rss=true Singapore's government has conditionally authorized state-backed Sembcorp Utilities to import 1.3 gigawatts of renewable electricity, advancing a tripartite energy pact with Malaysia and Vietnam.

EIA Edges 2026 USA Oil Output Forecast Closer to 14MM Bpd https://www.rigzone.com/news/eia_edges_2026_usa_oil_output_forecast_closer_to_14mm_bpd-26-oct-2026-184929-article/?rss=true The U.S. Energy Information Administration further raised its U.S. crude oil production forecast for 2026 in its latest short term energy outlook.

Saudi, Singapore Announce Oil Storage Deal https://www.rigzone.com/news/saudi_singapore_announce_oil_storage_deal-26-oct-2026-184928-article/?rss=true 'The proposed arrangement marks a new milestone in energy cooperation between Singapore and the Kingdom of Saudi Arabia', a joint statement said.

Israeli Power Producer Launches Arbitration vs Chevron's Leviathan Partners https://www.rigzone.com/news/israeli_power_producer_launches_arbitration_vs_chevrons_leviathan_partners-26-oct-2026-184927-article/?rss=true Dalia Energies has sought arbitration in London over a 20-year natural gas supply agreement terminated by NewMed Energy and Ratio Energies, Chevron's local partners in the offshore Leviathan field.

Saudi, Turkish Officials Travel to Iran to Cool Tensions https://www.rigzone.com/news/wire/saudi_turkish_officials_travel_to_iran_to_cool_tensions-26-oct-2026-184926-article/?rss=true Top security officials from Saudi Arabia, Pakistan and Turkey are set to meet Iran's leaders in an effort to defuse tensions and breathe new life into talks aimed at preventing a broader war in the Middle East.

Oil slides over 2% as traders weigh Saudi attack risks, demand destruction https://www.cnbc.com/2026/10/26/oil-prices-today-wti-brent.html Oil prices fell as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could erode demand.

UK Seen More Reliant on Gas Imports This Winter https://www.rigzone.com/news/wire/uk_seen_more_reliant_on_gas_imports_this_winter-25-oct-2026-184923-article/?rss=true Britain is expected to rely even more heavily on natural gas imports this winter.

Iberdrola Secures New EIB Loan for Brazil Grid Upgrades https://www.rigzone.com/news/iberdrola_secures_new_eib_loan_for_brazil_grid_upgrades-25-oct-2026-184924-article/?rss=true Iberdrola's Brazilian subsidiary has secured another loan from the European Investment Bank to help modernize the electricity infrastructure in the states of Sao Paulo and Mato Grosso do Sul.

Saudi Arabia says it intercepted missiles and drones from Iran-backed Houthis https://www.cnbc.com/2026/10/25/saudi-arabia-houthi-missile-drone-interceptions.html Saudi Arabia says it intercepted Houthi missiles and drones, while the Houthis claimed attacks on airports and energy sites amid rising regional supply risks.

Germany Wants to Stop More Oil Refinery Closures https://www.rigzone.com/news/wire/germany_wants_to_stop_more_oil_refinery_closures-24-oct-2026-184919-article/?rss=true Germany said it will seek to stem the loss of oil refining capacity.

Brent Tops $116 as Middle East Risks Grow https://www.rigzone.com/news/wire/brent_tops_116_as_middle_east_risks_grow-23-oct-2026-184925-article/?rss=true Oil prices climbed as escalating attacks on Saudi Arabia heightened fears of Middle East supply disruptions.

Physical Oil Prices Drop in Mideast https://www.rigzone.com/news/wire/physical_oil_prices_drop_in_mideast-23-oct-2026-184922-article/?rss=true The physical prices of some Middle East crudes sold outside the Persian Gulf have dropped.

Global Crude Freight Rate Surges https://www.rigzone.com/news/global_crude_freight_rate_surges-23-oct-2026-184916-article/?rss=true The global average crude freight rate surged above $20 per barrel, from $3 per barrel a year ago, analysts at Goldman Sachs said.