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California sues US Dept of Energy over Sable oil pipeline restart
California Attorney General Rob Bonta on Monday said he has sued the U.S. Department of Energy over its decision to restart the long-disputed Sable Offshore pipeline system linking the Santa Ynez offshore platform to California refineries.
Asia wants more U.S. oil and gas to reduce Middle East dependence after Iran war, Burgum says
Asian allies are looking to the U.S. for secure oil and gas supplies during the Iran war, Interior Secretary Doug Burgum said. Japan relies on the Strait of Hormuz for for 90% of its oil imports, said Takehiko Matsuo, a vice minister at Japan's Ministry of Economy, Trade and Industry.
Oil Prices Plummet as Trump Touts 'Productive Conversations' With Iran
Oil prices tumbled on Monday after President Trump said he would postpone imminent attacks on Iranian energy infrastructure amid "productive conversations" aimed at resolving the three-week-old U.S.-Israeli war on Iran. (Iranian officials denied the existence of talks.)
Drivers paying nearly $4 a gallon for gas see hope in oil prices' fall
Gasoline prices were close to $1 a gallon higher than a month ago.
U.S. Energy Secretary Wright Says Oil Price Rise Hasn't Destroyed Demand
Wright said the rise in prices was a signal to capable producers to increase output, but that prices haven't gone high enough to generate significant demand destruction.
Iranian oil is offered to India at premium to Brent, sources say
Traders have offered Iranian oil to Indian refiners at a premium to ICE Brent after Washington temporary removed sanctions to ease the energy crisis caused by the U.S.-Israeli war on Iran, three industry sources said.
Oil From US Reserves Started Flowing Friday, Says Energy Secretary Wright
US Energy Secretary Chris Wright says oil from the US strategic reserve started flowing on Friday afternoon. "Prices have not risen high enough yet to drive meaningful demand destruction,” Wright said during a discussion at CERA Week in Houston.
Why oil had been nearing peak even before Trump statement on Iran, according to top economists
Well-respected economists Krugman and Brooks believe we are near to the peak in oil prices because demand destruction takes place if it goes much higher
Oil falls over 13% on Trump postponing military strikes on Iran energy infrastructure
Oil prices fell by over 13% on Monday after U.S. President Donald Trump said he would order the military to postpone any strikes against Iranian power plants and energy infrastructure.
Oil climbs after Trump issues Iran 48-hour ultimatum
Goldman Sachs has upgraded its forecast for oil in 2026 by 10%
Goldman Lifts Oil Price Forecast on Longer Hormuz Disruption
Brent crude is now expected to average $85 a barrel this year, up from a previous forecast of $77. The U.S. oil gauge West Texas Intermediate is seen at $79 a barrel from $72 earlier.
Oil prices whipsaw as Trump's Hormuz ultimatum and Iran threats keep markets on edge
Crude prices were volatile early in the session before paring initial losses. Fears over prolonged disruption in the Strait of Hormuz have kept investors on edge, pushing oil prices higher.
