Oil prices fall as fresh U.S.-Iran talks raise supply hopes
Oil prices have plunged on Monday as fresh U.S.-Iran talks raise hopes for a reinstatement of Middle Eastern oil and LNG deliveries. The November Brent contract was seen trading as low as $99.07 barrel at the time of writing, pulling down oil-indexed term LNG prices.
Saudi pipeline attack jolts energy prices
Oil and gas prices have risen sharply after details emerged on drone attacks damaging Saudi Arabia’s East-West crude pipeline, which transports oil from the kingdom’s eastern fields to the Red Sea port of Yanbu, bypassing the Strait of Hormuz. The pipeline recently carried around 4 million barrels per day, and had to shut down following the incident.
UK NBP front-month November gas rose more than 5% to 208.36 pence per therm on the news, while Brent crude climbed above $108 a barrel.
Petrobras, Seatrium in talks to export LNG to Asian utility buyers
Brazil’s state oil company Petrobras is in negotiations with Singapore-based shipbuilder Seatrium on ways to liquefy and export gas produced in Brazil’s giant deepwater Atlantic pre-salt fields, catering to rising demand from gas-fired power generators across Asia in a tight market.
US unleashes sanctions against Iran, raises stakes for Hormuz trade flows
The United States has launched what it calls an “economic D‑Day” against Iran, with Treasury Secretary Scott Bessent extending sanctions against nearly 60 Iran-linked entities and vessels, raising stakes for oil and LNG trade flows through the Strait of Hormuz.
Norway adamant to drill in Barents Sea to sustain production
Norway's energy minister Terje Aasland has insisted on the country’s sovereign rights to drill in the Barents Sea to sustain oil and LNG exports at current levels until 2035, even though the EU is debating a moratorium.
Santos targets Papua LNG FID by year-end despite fall in profits
Santos is targeting a final investment decision on the Papua LNG project in the fourth quarter, the Australian oil and gas producer said when reporting a drop in first-half profits following the start-up of its Barossa LNG and Pikka oil projects.
22 Japan-linked vessels transit Hormuz
Shipping through the Strait of Hormuz resumes, with 22 Japan-linked ships, including six large crude oil tankers and several LNG carriers, transited the strait to exit between July 7 and 9, transport minister Yasushi Kaneko said at a news conference in Tokyo. The number of Japan-flagged vessels in the Gulf has fallen from 45 to just four, with shipowners declining to comment on safety precautions for the crew.
LNG tankers retreat from Hormuz after vessel attacks
Five crude oil and LNG tankers have turned back from attempts to transit the Strait of Hormuz after Iranian attacks on commercial shipping in the area. As tit-for-tat attacks between the US and Iran continue, maritime authorities raised the risk of transiting Hormuz to “severe.”
Canada to export Alberta oil via BC, accelerate LNG projects
Canada has moved closer to unlocking a new Pacific Coast crude outlet from Alberta while fast-tracking British Columbia LNG projects with the aim of tripping LNG production and export beyond 2030.
Suspected drone strike near Hormuz raises LNG shipping risk
A suspected drone strike on a merchant vessel near the Strait of Hormuz is testing a fragile U.S.–Iran framework agreement to restore shipping flows through one of the world’s most critical energy corridors, with implications for LNG trade.
