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A container ship paid $4 million to cut the line at the Panama Canal.
The global refining system has little spare room left to respond, Daniel Evans, Global Head of Fuels and Refining Research at S&P Global Energy, said in analysis piece.
Crude prices were little changed as stalled Hormuz negotiations offset a massive increase in US oil inventories.
The number of employees in the oil and gas extraction industry hit its lowest level so far in 2026, and the lowest level in years, data on the BLS website showed.
Freight costs for oil tankers shipping crude from the Black Sea to the Mediterranean have risen to a record.
The U.S. Energy Information Administration revealed its latest estimations of the amount of oil going through the world's chokepoints.
Oil climbed for a fourth session as traders remained skeptical that a deal would quickly restore Hormuz flows.
A key oil supply valve from the Middle East that involves shuttle transits through the Strait of Hormuz is continuing to function.
North America dropped three rigs week on week, according to Baker Hughes' latest North America rotary rig count.
President Donald Trump has extended a waiver allowing foreign ships to transport oil and other commodities around the U.S. for 90 more days, albeit with new limits.
The National Oceanic and Atmospheric Administration has revealed its latest prediction for the Atlantic hurricane season.
Crude climbed as limited Hormuz traffic and Middle East tensions continued to support prices.
'The peak occurred during a heat wave and could be surpassed again this summer', the EIA warned.
U.S. natural gas futures rose by the most in more than two months.
ADNOC said it continued to be 'significantly impacted' by attacks on its people and its assets.
Oil steadied as traders weighed a potential Hormuz deal against persistent Middle East shipping threats.
ConocoPhillips has announced a 'planned leadership succession'.
Oil rose as doubts grew that an Iran-Oman deal would quickly restore normal shipping through the Strait of Hormuz.
You can choose to embrace it or ignore it. You can choose to pretend it does not apply to you. But the one thing you likely will not be able to do is work as a pipeline inspector without it after 2018. What is it you ask? It is the American Petroleum Institute Pipeline Inspector Certification; better known as the API 1169. Possibly a thorn in the side for many inspectors but for the industry it is a sure step forward in the right direction; joining the other sectors of oil & gas.
Questions surround the API 1169 exam requirements, purpose, and what individuals need to do in order to properly prepare for the certification that will likely keep them employed in their careers. Training options have been multiplying as the popularity of the API 1169 has hit the mainstream. Inspectors should perform their research and due diligence to adequately make an informed choice when it comes to the training course they attend.