An employee of Basra Oil Company, works at the Nahr Bin Umar Oil and Gas Field on the outskirts of the southern Iraqi city of Basra on April 29, 2026. Hussein Faleh | Afp | Getty Images Oil and gas giants benefited significantly from their trading desks through the first quarter, shining a light on…
Vessels in the Strait of Hormuz, Musandam, Oman, May 8, 2026. Stringer | Reuters The world’s energy system will change in big ways as a result of the Iran war, the CEOs of key oil and gas companies told investors on their earnings calls over the past two weeks. Iran’s blockade of the Strait of…
The Shell gas logo is displayed at a gas station on April 27, 2026 in Austin, Texas. Brandon Bell | Getty Images British energy major Shell on Thursday reported stronger-than-expected first-quarter profit as the Iran war sent energy prices soaring. The oil giant posted adjusted earnings of $6.92 billion for the first three months of…
President Donald Trump on Wednesday said Iran will be bombed “at a much higher level” if it doesn’t agree to a peace deal, raising tensions even as news outlets reported that Washington and Tehran are nearing an agreement to end the war. Trump in a Truth Social post said the U.S. military offensive known as…
In an aerial view, the Marathon Petroleum Corp’s Los Angeles Refinery is seen on April 2, 2026 in Carson, California. Justin Sullivan | Getty Images Oil prices declined on Tuesday as traders assessed the risk of immediate supply disruptions amid renewed tensions between the United States and Iran. International benchmark Brent crude futures dipped 1.3% to…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are on track for a positive finish on Friday, lifting the S & P 500 into the green for the week and putting it on…
BP logos are seen at a BP petrol and diesel filling station southeast of London on June 15, 2020. BEN STANSALL | AFP | Getty Images LONDON — British energy major BP suffered a shareholder revolt at its annual general meeting on Thursday, following a tense clash with investors over corporate governance and climate transparency….
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel. Source link
Cargo vessel, Ali 25, in the Gulf, near the Strait of Hormuz on March 22, 2026 in northern Ras al Khaimah, United Arab Emirates. Getty Images The U.S. and Iran’s “fragile truce” has lifted hopes that a full reopening of the Hormuz Strait can end the energy supply crunch that threatens to cripple the global…
A month into the worst oil supply disruption since the 1970s Arab embargo, the economic pain spreading across Asia is reviving an uncomfortable question: Could this be 1997 all over again? The parallels are hard to ignore. Asian currencies are under pressure, fueling the risk of capital outflows. Spiking energy costs have pushed governments to…
