Crude Oil News

Oil prices ease as recovering Hormuz Strait traffic tempers war premium https://www.cnbc.com/2026/07/31/oil-prices-today-brent-wti-hormuz-trump-iran-.html Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.

Saudi Gulf Oil Loadings Still Subdued https://www.rigzone.com/news/wire/saudi_gulf_oil_loadings_still_subdued-30-jul-2026-184256-article/?rss=true Oil loadings by Saudi Arabia and other major producers inside the Persian Gulf remained subdued.

Oil Drops Amid Mixed Supply Signals https://www.rigzone.com/news/wire/oil_drops_amid_mixed_supply_signals-30-jul-2026-184259-article/?rss=true Oil prices fell as increased shipping through the Strait of Hormuz offset escalating geopolitical tensions.

The oil majors are about to report booming profits. These smaller stocks may be better buys https://www.cnbc.com/2026/07/30/the-oil-majors-are-about-to-report-booming-profits-these-smaller-stocks-may-be-better-buys.html Several renewable and AI-linked stocks that may be better buys than the majors right now, according to Wall Street.

BP Starts Up US Gulf Expansion Project https://www.rigzone.com/news/bp_starts_up_us_gulf_expansion_project-30-jul-2026-184258-article/?rss=true BP has raised the production capacity of the Atlantis deepwater field by 10,000 barrels of oil equivalent a day.

Eni Opens Supercomputing Capabilities to 'Innovation Ecosystem' https://www.rigzone.com/news/eni_opens_supercomputing_capabilities_to_innovation_ecosystem-30-jul-2026-184257-article/?rss=true Eni announced that it is opening up its supercomputing capabilities to the 'innovation ecosystem'.

Petrobras Squeezes More Oil from Mega Platforms https://www.rigzone.com/news/wire/petrobras_squeezes_more_oil_from_mega_platforms-30-jul-2026-184255-article/?rss=true Brazil's national oil company is producing more than the designed capacities of offshore platforms deployed at Buzios and other deepwater fields.

Ksi Lisims Positions Canada as Long-Term LNG Supplier to Germany https://www.rigzone.com/news/ksi_lisims_positions_canada_as_longterm_lng_supplier_to_germany-30-jul-2026-184254-article/?rss=true 'This milestone marks the first major long-term LNG supply arrangement between Canada and Germany and represents a significant step in strengthening the strategic energy partnership between both countries'.

USA Gasoline Shows Rising Price Trend https://www.rigzone.com/news/usa_gasoline_shows_rising_price_trend-30-jul-2026-184253-article/?rss=true The U.S. Energy Information Administration's latest gasoline fuel update showed a rising price trend for U.S. regular gasoline.

Egypt says drone hit two ships at Mediterranean port as attacks on energy infrastructure widen https://www.cnbc.com/2026/07/30/egypt-drone-gas-ship-damietta-port-iran-war.html The unclaimed attack comes as Iran, its Houthi alllies in Yemen and Iraqi militias have widen strikes on energy infrastructure across the region.

Oil prices move higher as Iran threatens response to latest U.S. strikes https://www.cnbc.com/2026/07/30/oil-prices-us-iran-war.html Brent crude futures, the international benchmark, gained 1.5% to $92.10 a barrel. U.S. West Texas Intermediate futures advanced 0.9% to $85.23 per barrel.

Shell posts best quarterly profit in four years as Iran war boosts oil and gas prices https://www.cnbc.com/2026/07/30/shell-2q-earnings-iran-war-oil.html The bumper result comes as energy majors receive a profit boost from soaring fossil fuel prices amid the Iran war.

Petronas Signs New LNG Deal with Another Japanese Customer https://www.rigzone.com/news/petronas_signs_new_lng_deal_with_another_japanese_customer-30-jul-2026-184252-article/?rss=true Petronas penned an initial agreement to continue supplying liquefied natural gas to Hokuriku Electric, the latest Japanese utility to recently tap Malaysia's national oil and gas company for LNG supply.

Shell Maintains Buyback Rate with New $3B Plan https://www.rigzone.com/news/shell_maintains_buyback_rate_with_new_3b_plan-30-jul-2026-184251-article/?rss=true Shell reported higher earnings for the second quarter as higher oil prices continued to offset its production losses in the Middle East.

Carbon Storage Industry Given 'Significant Boost', NSTA Says https://www.rigzone.com/news/carbon_storage_industry_given_significant_boost_nsta_says-30-jul-2026-184250-article/?rss=true The UK's North Sea Transition Authority announced that the carbon storage industry 'has been given a significant boost' with the publication of two NSTA commissioned studies.

Hormuz Traffic Shows Defiance https://www.rigzone.com/news/wire/hormuz_traffic_shows_defiance-30-jul-2026-184249-article/?rss=true Shipping across the crucial Strait of Hormuz has picked up in recent days despite a continuation of hostilities in the Middle East, with the U.S. claiming its navy escorted some tankers across the waterway.

Aramco Mulls New Oil Pricing for Asia https://www.rigzone.com/news/wire/aramco_mulls_new_oil_pricing_for_asia-29-jul-2026-184245-article/?rss=true Saudi Aramco is preparing a new selling price for oil loaded at Egypt's Mediterranean port of Sidi Kerir for delivery to Asia.

Oil Surges as Tensions Erupt https://www.rigzone.com/news/wire/oil_surges_as_tensions_erupt-29-jul-2026-184248-article/?rss=true Oil prices surged after renewed military action between the US and Iran reignited concerns over Middle East energy supplies.

Saudi State Oil Shipper Posts Record Profit on Higher Freight Rates https://www.rigzone.com/news/saudi_state_oil_shipper_posts_record_profit_on_higher_freight_rates-29-jul-2026-184247-article/?rss=true Bahri registered 'higher freight rates and increased vessel chartering activity to meet growing customer demand'.

Saipem Bags Over $3B Worth of Eni Deals in July https://www.rigzone.com/news/saipem_bags_over_3b_worth_of_eni_deals_in_july-29-jul-2026-184246-article/?rss=true Saipem has announced, in statements posted on its website, more than $3 billion worth of contract awards by Eni this month alone.