Category: Oil & Gas

The noise around an imminent resumption of hostilities between the US and Iran has eased somewhat after US President Trump tweeted that his administration would ‘hold off’ on a planned military attack.

South Africa// — Each year, the African Energy Industry’s “African Energy Person of the Year” award celebrates individuals who have positively influenced Africa’s energy sector by facilitating projects that strengthen energy security, African development, energy additions, free markets, limited government, economic resilience, the prosperity of families, local content and improving African energy infrastructure.

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.

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.

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.

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.

Some oil marketing companies (OMCs) have begun reducing fuel prices at the pumps.

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. 

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.

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.