The recent U.S.-Iran Memorandum of Understanding (MOU) has triggered a wave of optimism in oil markets. Traders are pricing in a swift reopening of the Strait of Hormuz, a rapid normalization of supply chains, and a return to lower pre-crisis price levels. Brent crude has already dropped toward $83–$84 per barrel, with WTI near $80–$81, […]
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We have been here 39 times before; maybe 40 will hold. In a significant development for global energy security, Pakistani Prime Minister Shehbaz Sharif announced today that a peace deal between the United States and Iran has been reached following intensive mediation efforts. The official signing ceremony is scheduled for Friday, June 19, 2026, in […]
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As of Sunday, June 14, 2026, the Middle East stands at a dangerous inflection point. Iran appears to be preparing for potential direct retaliation against Israel — including by restricting airspace in western regions and suspending flights to key western airports — following Israeli strikes on Hezbollah targets in Beirut’s Dahiyeh suburb. At the same […]
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ENB Pub Note: This article is from David Blackmon’s Substack, and we highly recommend subscribing. Iran’s overreliance on the Strait of Hormuz as a geopolitical weapon is proving self-destructive. By threatening or disrupting this critical chokepoint – through which roughly 20 million barrels per day (bpd) of oil historically flowed – Iran has accelerated the […]
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Cushing, Oklahoma — the critical delivery hub for West Texas Intermediate (WTI) crude oil futures — is rapidly approaching operational limits as inventories continue their steep decline amid global supply disruptions. Latest EIA Data: Sharp and Sustained Drawdowns According to the U.S. Energy Information Administration (EIA), commercial crude oil stocks at Cushing stood at 21.64 […]
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Six U.S. states are implementing fuel tax adjustments effective primarily on July 1, 2026, even as national gasoline prices hover around $4.08–$4.11 per gallon amid ongoing energy inflation pressures and geopolitical uncertainties in global oil markets. These changes—ranging from inflation-linked increases to restructuring and temporary suspensions—aim to sustain transportation infrastructure funding but come at a […]
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The U.S. wind and solar industries are facing a sharp policy reversal. The Trump administration’s One Big Beautiful Bill Act (signed July 4, 2025) and follow-on Executive Order have effectively ended the generous federal tax credits (Production Tax Credit under Section 45Y and Investment Tax Credit under Section 48E) that fueled much of the recent […]
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U.S. commercial crude oil inventories fell for the seventh consecutive week, according to the latest U.S. Energy Information Administration (EIA) Weekly Petroleum Status Report for the week ending June 5, 2026. Commercial crude stocks (excluding the Strategic Petroleum Reserve) dropped by 7.2 million barrels to 426.5 million barrels — now about 5% below the five-year […]
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Optimism is surging in diplomatic circles. Pakistan’s Prime Minister Shehbaz Sharif announced that the United States and Iran have reached a “final, agreed upon text” for a deal aimed at ending their conflict in the Middle East. Mediators, with Pakistan in the lead, are now working on next steps. Sharif declared on X (formerly Twitter): […]
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Guyana’s offshore Stabroek block continues to deliver exceptional results for two of the world’s largest energy companies. In 2025, ExxonMobil reported approximately $4.67 billion in profit from its Guyana operations, while Chevron (through its acquisition of Hess) reported $2.89 billion. The combined $7.56 billion underscores the block’s status as one of the most profitable and […]
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