Oil

The IEA said member countries have released 290 million barrels of emergency oil stocks since March 11, while retaining more than 1 billion barrels in government-controlled reserves to help stabilize global markets.

Ship-to-ship oil transfers in the Gulf of Oman have declined following recent Iranian attacks on commercial vessels, signaling renewed challenges for crude exports through the Strait of Hormuz despite ongoing U.S.-supported transit efforts.

Irving Oil will begin a planned fall turnaround at its 320,000-bpd Saint John refinery in September, with maintenance expected to continue through mid-November at Canada's largest refinery.

A new agreement between Iraq and Syria could pave the way for a Mediterranean crude oil export pipeline backed by an international consortium that includes Chevron, opening an alternative route for regional energy exports.

A drone attack damaged an Exxon-chartered tanker near the Caspian Pipeline Consortium's Black Sea export terminal, disrupting loading operations at a key outlet for Kazakhstan's crude exports.

As Cushing crude inventories approach minimum operating levels, EIA explains how "tank bottoms" can tighten available storage and influence oil market pricing.

Michigan has reissued a key environmental permit for Enbridge's proposed Line 5 tunnel beneath the Mackinac Straits, moving the long-delayed project another step through the state's approval process.

KazTransOil increased crude oil transportation across its pipeline network during the first half of 2026, with higher volumes moving through key export routes and domestic refining systems.

Middle East crude prices strengthened after Iran attacked UAE oil tankers, raising concerns over Strait of Hormuz shipping, tightening prompt supplies and prompting Asian refiners to seek alternative crude sources.

The U.S. Strategic Petroleum Reserve fell by 3 million barrels to its lowest level since 1983, extending government drawdowns as overall U.S. crude inventories continue to decline.

Oil prices climbed more than 4% after President Donald Trump announced the U.S. would reinstate a naval blockade on Iran, renewing concerns over crude and LNG shipments through the Strait of Hormuz.

Occidental Petroleum reported a 38% increase in realized oil prices during the second quarter as higher crude prices driven by the Iran conflict boosted revenues despite weaker natural gas prices.

ONGC plans to build a 13-million-barrel strategic petroleum reserve in Mangalore as India expands crude storage capacity to strengthen energy security following recent supply disruptions.

Iran launched strikes against U.S. military targets in Gulf states as tensions around the Strait of Hormuz continued to disrupt shipping and raise concerns over global oil and LNG supplies.

Turkey and Iraq are preparing to extend their crude oil pipeline agreement for another 12 months, ensuring continued exports through the Ceyhan terminal as the current deal nears expiration.