Rigzone Oil & Gas Headlines
- Brent closed above $100 for a second session while traders weigh war risks and extreme volatility.
- Iran has vowed to keep the strait closed, but whether it's actually mining the area is contested.
- No one in their right mind would dare to sit short oil over the coming weekend, SEB Chief Commodities Analyst Bjarne Schieldrop said.
- Oil surged as Gulf supply disruptions pushed Brent above $100 for the first time since 2022.
- U.S. oil and gas hiring 'remains disciplined, not aggressive', Brian Binke, the President and CEO of Michigan based the Birmingham Group, told Rigzone.
- The U.S. Navy could start escorting tankers through the Strait of Hormuz by the end of this month, Energy Secretary Chris Wright said.
- 'Threats to the energy structure in the Middle East have kept oil prices bid', Aaron Hill, Chief Market Analyst at FP Markets, said.
- Oil climbed sharply as traders focused on supply disruptions from the Iran conflict despite a massive global reserve release.
- The International Energy Agency agreed to discharge 400 million barrels from emergency oil reserves.
- North America dropped eight rigs week on week, according to Baker Hughes' latest North America rotary rig count.