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Oil tanker Rich Starry abruptly reversed course in the Strait of Hormuz, joining hundreds of stalled vessels amid rising tensions disrupting global energy flows.
The prospect of a cease-fire between the U.S. and Iran drove oil prices and energy stocks lower Wednesday as traders anticipated at least a temporary respite for markets.
The Iran war calls for a fundamental rethink of a sector that investors had shunned for years
Experts warn Iran’s influence over the Strait of Hormuz could disrupt energy flows, elevate oil prices, and create lasting global economic consequences.
Surging oil and LNG prices tied to the Iran conflict have pushed U.S. energy stocks to record highs, benefiting companies like Exxon, Chevron, and major refiners even as broader markets decline.
Rising oil prices driven by the Middle East conflict are increasing profits for U.S. oil producers, but uncertainty over how long the price surge will last is making companies cautious about expanding production.
Escalating tensions involving Iran have sharply reduced tanker traffic through the Strait of Hormuz, a critical route that carries roughly 20% of the world’s oil supply.
A joint U.S. and Israeli attack on Iran killed its supreme leader and ignited wider regional conflict, yet crude oil prices rose by a relatively muted ~6% on March 2.
As the U.S. mounts its largest military buildup since 2003, experts warn tensions with Iran could send gas prices plunging to $2.50 or soaring to $5.
Opportune LLP acquires Pickering Energy Partners’ Consulting & Advocacy practice, expanding sustainability and energy advisory services.
Rising electricity and gas bills are hitting households nationwide as utilities win rate hikes, aging power grids need upgrades, and growing energy demand and natural gas prices push costs higher.
Resman Energy Technology Sold to SLB
Oilfield services group SLB is in position to win some of the first contracts under Donald Trump’s plan to revive Venezuela’s ailing oil industry, capitalising on its century long presence in the Caribbean nation.
Texas oilman Rod Lewis has made millions drilling in places even other wildcatters find too dangerous.But when he flew to Venezuela in 2024, he encountered an opportunity that was as treacherous—and possibly as profitable—as any in the world.
Exxon stock hit a record on Tuesday, rising 1.5% to $125.94. The oil giant is winning the hearts of investors, even as it’s getting the cold shoulder from the president.