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Oil Prices Plunge 10%, as U.S.-Iran De-escalation Eases Supply Fears
Reports of a U.S.-Iran memorandum to pause hostilities triggered a sharp oil market sell-off. President Trump paused the Project Freedom naval mission aimed at...
Brent crude plunges below $100, following US-Iran de-escalation reports
Brent crude fell nearly 10% on May 6, 2026. The international benchmark traded below $100 a barrel for the first time in two weeks. West Texas Intermediate...
🔴 VDE is trading 3.7% down today as Brent crude plunges on US-Iran ceasefire progress
VDE is trading 3.7% down today as oil prices collapse following reports of a US-Iran memorandum pausing hostilities. • Brent crude plunged 12% to $97.21,...
Brent Crude Plunges 12%, China Calls for US-Iran Ceasefire
Brent crude fell $12.66 to settle at $97.21 a barrel. The price drop followed China's call for a comprehensive ceasefire in the U.S.-Iran conflict. This...
UAE Quits OPEC to Boost Production, Signaling Rift With Saudi Arabia
The United Arab Emirates officially withdrew from OPEC on May 6, 2026. This landmark departure reshapes global oil market dynamics. The UAE cited a need for...
🔴 VDE is trading 5.5% down today as oil prices plunge on Iran peace progress
VDE is trading 5.5% down in pre-market as oil prices tumble following reports of progress in Iran peace talks, which have significantly eased geopolitical...
🔴 VDE is trading 3.8% down today as oil prices tumble on Iran peace progress
VDE is trading 3.8% down today, tracking a significant drop in oil prices after the U.S. paused naval escorts in the Strait of Hormuz. • Brent crude fell...
Oil prices tumble as U.S. pauses Hormuz escorts, citing Iran peace progress
Global oil prices fell sharply on May 6. Brent crude dropped toward $108 a barrel. WTI crude hovered near $100 a barrel. This marks the second consecutive...
ConocoPhillips reopens dormant North Sea gas fields, boosting European energy security
Norway’s Ministry of Energy approved the reopening of the Albuskjell, Vest Ekofisk, and Tommeliten Gamma gas fields. These North Sea assets have remained...
Chord Energy Hikes 2026 Oil Outlook, Holding Spending Steady
Chord Energy increased its full-year 2026 oil production guidance following strong first-quarter results. The company now expects to produce an average of...
Duke Energy beats Q1 estimates, fueled by AI data center demand
Duke Energy reported first-quarter 2026 adjusted earnings of $1.93 per share. Revenue reached $9.18 billion, exceeding analyst expectations. Surging energy...
Duke Energy beats Q1 targets, powered by surging data center demand
Duke Energy reported first-quarter 2026 adjusted earnings of $1.93 per share. Revenue reached $9.18 billion, exceeding analyst expectations. Surging...
Marathon Petroleum swings to $511 million profit, driven by higher refining margins
Marathon Petroleum Corp. (MPC) reported first-quarter 2026 net income of $511 million. Earnings reached $1.73 per diluted share, reversing a $74 million net...
Chevron Warns of Physical Oil Shortages, Citing Middle East Supply Risks
Chevron CEO Mike Wirth warned Tuesday that physical crude oil shortages are beginning to emerge. These supply constraints could impact Asian economies before...
OPEC+ Boosts June Output by 188,000 Barrels, Asserting Control After UAE Exit
OPEC+ agreed to increase oil production by 188,000 barrels per day (bpd) for June. This decision marks the first coordinated adjustment since the United Arab...
Chevron Warns of Physical Oil Shortages, Citing Strait of Hormuz Closure
Chevron CEO Mike Wirth warned on May 5 that the global oil market faces imminent physical supply shortages. The ongoing closure of the Strait of Hormuz drives...
Diamondback Energy Raises 2026 Output Over 520,000 Barrels, Pivoting to Growth
Diamondback Energy raised its full-year 2026 production guidance to more than 520,000 barrels of oil per day. This revision represents a 3% increase from the...
Diamondback Energy Boosts Dividend and Production Targets on Strong Q1 Results
Diamondback Energy reported strong first-quarter 2026 financial and operating results after market close on May 4, 2026. The company increased its base...
UAE Defends OPEC Exit, Demanding Open Strait Following Iranian Drone Attack
The United Arab Emirates defended its May 5 decision to exit OPEC and the broader OPEC+ alliance. Sultan Ahmed Al Jaber, UAE Industry Minister and ADNOC CEO,...
Petronas Gas to Build First Floating LNG Terminal, Securing Domestic Supply
Petronas Gas Berhad (PGB) received approval from Malaysia's Ministry of Economy to develop the country's third liquefied natural gas (LNG) regasification...