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petroleum

Oil and gas leaders: Trump Iran deal is good news, normalization to take months

(The Center Square) – Texas oil and natural gas industry leaders are cautiously optimistic about the president’s announced ceasefire deal with Iran. President Donald Trump announced he plans to sign a deal with Iranian leaders on Friday, ending more than 100 days of a U.S.-Israel-led conflict that

Oil prices continue steady decline after Trump declares Project Freedom a success

(The Center Square) – The price of Brent crude oil continued a steady decline Thursday, a day after President Donald Trump announced that a secret U.S. military mission has been escorting commercial vessels through the Strait of Hormuz. Brent crude closed Wednesday at $93.10 per barrel and $92.86

Trump: 100M barrels of oil passed through Strait of Hormuz

(The Center Square) – A secret U.S. military mission has enabled more than 100 million barrels of oil to traverse the Strait of Hormuz in roughly the past month, according to President Donald Trump. The president disclosed the mission and its apparent fruits during a press conference in the Oval

Exxon, global agencies warn of oil price spike within weeks

(The Center Square) – A top ExxonMobil executive warned that oil prices could surge to between $150 and $160 per barrel within weeks as conflict in the Middle East drains global inventories – a spike that would likely send gasoline prices higher. Neil Chapman, senior vice president at ExxonMobil, told investors at

Shell profit jumps as Mideast war fuels oil prices

Shell profit jumps as Mideast war fuels oil prices

British energy giant Shell announced Thursday rising net profits for the first quarter as the Middle East war sent oil and gas prices soaring in volatile trading. Profit after tax increased 19 percent to $5.69 billion in the January-March period from $4.78 billion in the first quarter

Australia to force gas giants to reserve fuel for domestic use

Australia to force gas giants to reserve fuel for domestic use

Australia will look to stave off energy shortages by forcing major gas companies to reserve 20 percent of their exports for domestic use, Energy Minister Chris Bowen said Thursday. The country is one of the world's largest exporters of liquefied natural gas (LNG), a key fuel source in

US trade gap widens in March as AI spending boosts imports

US trade gap widens in March as AI spending boosts imports

The US trade deficit grew slightly less than expected in March, government data showed Tuesday, as spending linked to the artificial intelligence buildout boosted imports. But US exports of crude oil and petroleum products also jumped after war in the Middle East began on February 28 with US-Israeli strikes