Chevron Corp. CFO Eimear Bonner said on Thursday that major oil companies are “doing everything [they] can” to bring gasoline prices down as tanker traffic through the Strait of Hormuz continues to normalize. However, she told CNBC that “it’s going to take time,” pointing to a lag between a drop in oil prices and gas …
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for the week ending June 19, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.1 million barrels from the previous week. At 412.1 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year. U.S. crude oil refinery inputs averaged 17.1 …
Precious metals plummeted on Wednesday, with spot gold falling below $4,000 per ounce for the first time since November 2025 as investors assessed market expectations for interest rates and the US dollar. The gold spot price declined 2.72% to trade at $3,998.99 per ounce at 2:57 pm CET. Silver dropped 4.70%, changing hands at $58.68 …
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Crude oil prices continued to fall on Wednesday as investors’ supply concerns eased after the shipping through the Strait of Hormuz was restored. Oman announced that it had established a temporary corridor through the maritime route in coordination with the UN’s International Maritime Organization (IMO), to ensure toll-free navigation. Meanwhile, United States President Donald Trump said that Iran …
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TotalEnergies Chief Executive Officer Patrick Pouyanne said on Tuesday that building pipelines that bypass the Strait of Hormuz should be an “absolute priority.” “The reality is that the Strait of Hormuz represents a genuine threat,” Pouyanne said during an energy conference in Paris. “To ensure it doesn’t remain a threat, there is only one solution: …
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At least 16 American military sites have been damaged in Iranian strikes, making up the majority of US positions in the Middle East. The damage includes high-value targets, raising questions about America’s footprint in the region. NN: Without boots on the ground Trump decided to turn tail and run
Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani said that the full reopening of the Strait of Hormuz and the restoration of traffic in the waterway will take time and effort. In an interview with the Financial Times published on Wednesday, the prime minister stressed that Qatar will oppose any …
Iranian President Masoud Pezeshkian revealed on Tuesday that Iran’s missiles are not in the memorandum of understanding signed with the United States. He further stressed that they will never be added there. Speaking from Islamabad, Pezeshkian insisted that Tehran will “never negotiate its defensive ability with anyone.” He mentioned that without missiles, “our country would have …
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