In a week that started with both OPEC and the IEA slashing their demand forecasts for 2026, oil prices are set for a hefty $7 per barrel week-on-week gain.
Category: Oil & Gas
Asia Pacific: From Skies to Supply Chains – Asia’s Exposure to Refined Fuel Shocks
Pockets of extreme tightness in refined fuel supply are a severe constraint on Asia’s growth outlook, including jet fuel, marine fuel, and petrochemical feedstocks. That will weigh heavily on Asia’s key trade and transport nodes.
Trump’s Ceasefire Warning Sends Oil Prices Higher Again
Seesawing over the past two weeks, ICE Brent futures are nearing $110 per barrel again, with comments from US President Trump about the ceasefire deal being on ‘life support’ keeping daily gains at 3% so far this week.
US Moves to Break Iran’s Chokehold on Hormuz
The fight for the Strait of Hormuz has once again turned kinetic, with U.S. forces seeking to tear open Iran’s chokehold of the waterway, in turn triggering Iranian strikes on ships in the area and UAE infrastructure.
Ghana: OMCs Begin Fuel Price Cuts
Some oil marketing companies (OMCs) have begun reducing fuel prices at the pumps.
Oil Rally Stalls as Iran Proposal Triggers Profit-Taking
Oil prices are set to close this week below $110 per barrel, marking a week of extreme volatility as Brent’s June contract hit $126 per barrel on Thursday. Iran’s latest proposal for negotiations, sent to the Trump administration via Pakistani mediators, has been the main cause for bearishness.
South Sudan Declines to Renew Oranto’s License for Block B3
Juba, South Sudan// — The Ministry of Petroleum of the Republic of South Sudan (https://MOP.Gov.SS) announces that it has decided not to renew the Exploration and Production Sharing Agreement (EPSA) held by Oranto Petroleum for Block B3.
UAE OPEC Exit Forces Oil Into Fresh Uncertainty
Oil markets are absorbing a structural shock following the United Arab Emirates’ decision to exit OPEC after six decades, a break that strikes at the cohesion of a group long relied upon to shape global supply and pricing, affirms the CEO of one of the world’s largest independent financial advisory organisations.
Many Africans Could Switch Back to Biomass If Middle East Crisis Drags On, WLGA Warns
Accra, Ghana//-The World Liquid Gas Association (WLGA) warned that, if the ongoing Middle East crisis, which has now become a global nightmare if it drags on, the global price of liquefied petroleum gas (LPG) will spike and that African markets will get priced out by markets in Europe and Asia.
Tullow Delivers Against Clear Set of Strategic Priorities to Position for Long-term Success
Tullow Oil plc (Tullow), the independent oil and gas exploration and production group (Group), announced its Full Year Results for the year ended 31 December 2025.