Rigzone Oil & Gas Headlines
- Oil rose as the US threatened new economic pressure on Iran while uncertainty over the Strait of Hormuz persisted.
- Crude retreated as traders assessed Hormuz shipments and rising US inventories.
- A container ship paid $4 million to cut the line at the Panama Canal.
- The global refining system has little spare room left to respond, Daniel Evans, Global Head of Fuels and Refining Research at S&P Global Energy, said in analysis piece.
- Crude prices were little changed as stalled Hormuz negotiations offset a massive increase in US oil inventories.
- The number of employees in the oil and gas extraction industry hit its lowest level so far in 2026, and the lowest level in years, data on the BLS website showed.
- Freight costs for oil tankers shipping crude from the Black Sea to the Mediterranean have risen to a record.
- The U.S. Energy Information Administration revealed its latest estimations of the amount of oil going through the world's chokepoints.
- Oil climbed for a fourth session as traders remained skeptical that a deal would quickly restore Hormuz flows.
- A key oil supply valve from the Middle East that involves shuttle transits through the Strait of Hormuz is continuing to function.