Oil prices are likely to remain elevated even if a peace deal is reached in the Middle East, with damaged refining capacity and the need to rebuild depleted inventories prolonging the supply-demand squeeze.
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, write Benoît Morenne and Collin Eaton, The Wall Street Journal.
The deal caps months of secretive negotiations to give the U.S. rights to the some of the world’s largest proven oil reserves, write Vera Bergengruen, Drew FitzGerald, Collin Eaton, and Juan Forero, The Wall Street Journal.
The US oilfield services firm wants to shift its base to the US. An initial plan to move the HQ to Texas failed to garner shareholder support but now it’s planning a second go, this time to Delaware.
Signing is planned for Friday, marking a potential breakthrough in war that has roiled the global economy, write Josh Dawsey, Anat Peled and Benoit Faucon, The Wall Street Journal.
U.S. crude exports are poised to hit a record this month as more than 70 supertankers approach the Gulf Coast to load up on oil, write Collin Eaton and Benoît Morenne, The Wall Street Journal.
Wall Street braces for a longer-term disruption from Iran war, loading up on shares of laggard oil-and-gas producers, write David Uberti and Jared Mitovich, The Wall Street Journal.
The combination of factors that led to a joint spike in energy prices and general inflation four years ago is not repeated this time around – yet prices, including those of energy, are rising.
Damaged infrastructure likely to take years to come back online, but price surge helps offset some of the lost production for now, write Collin Eaton and Matthew Dalton, The Wall Street Journal.
The current energy shock is not just about war – it is the result of long-term policy failures that have left Europe dependent, exposed, and scrambling for alternatives.
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