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Key points:
- Trump's policies have upended trade flows
- Industry grapples with mass layoffs, activist investor push
- Oil investment, output growth unlikely despite govt push
- Oil prices hover around $70 a barrel
Top oil executives reckon with downturn even as Trump cheers them on
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Trump’s energy policies shake global oil markets as layoffs surge, investment stalls, and crude prices hover around $70 per barrel amid industry turmoil.
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Freight rates for moving U.S. oil to Asia have soared from $3 to $6 per barrel before the war in Iran to around $38 per barrel today.
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Trump suggests Ukraine replace Zelensky as the leaders clash over a US-Russia diesel deal that Kyiv warns could prolong the war.
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Oil Prices rise after attaches on Saudi Aramco sites
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Analysts say the Iran war could drag on through November’s midterms as stalled peace talks and Tehran’s push for leverage prolong the conflict.
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More tankers are moving through the Strait of Hormuz as shippers gain confidence, but the global supply of oil is still below demand.
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An export ban likely would slow U.S. refining and eventually push up all fuel prices, including gasoline, jet fuel, and diesel.
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Oil futures don’t tell the whole story. The Iran war is tightening crude supplies, widening the gap between benchmark prices and what buyers actually pay.
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Pickering Energy Partners advised ConocoPhillips on the sale of non-operated Permian EOR assets in Gaines and Yoakum Counties, Texas.
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Continental Resources plans to invest in Venezuela as Dan Pickering highlights the major funding needed to restore the country’s oil production.
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Dan Pickering says Venezuela’s oil revival needs major foreign investment, but concerns over contract protections and past nationalizations persist.
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Diesel prices are surging as wars in Iran and Ukraine disrupt fuel supplies. Analysts explain why the Iran war is the bigger driver of rising costs.
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Trump officials say the oil-market disruption is temporary, but Chevron’s Mike Wirth and others warn global supplies are running low, with no respite in sight
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California diesel prices average $7.91 a gallon, with several stations charging over $9 and some pump displays hitting their $9.999 limit, GasBuddy reports.
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Analysts warn the escalating Iran war could deepen global fuel shortages, push diesel prices higher and intensify inflation as energy supplies dwindle.
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