US Crude Reserves Hit Lowest Level Since 1983
US crude oil inventories in the Strategic Petroleum Reserve fell by 5.1 million barrels last week to their lowest level since 1983, extending drawdowns under the government’s planned release program.
US | Egypt Oil & Gas
Revised US, Russia Sanctions Bill Sparks Tariff Concerns
US senators have released a sanctions bill targeting Russia, lowering the proposed tariff to 100% from 500% in the previous version in an effort to secure broader congressional support, Reuters reported.
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US Reimposes Iran Oil Sanctions After Tanker Attacks
The United States reimposed sanctions on Iranian oil on July 7th, with a US official warning that Tehran’s attacks on vessels transiting the Strait of Hormuz were wholly unacceptable and would draw consequences.
XRG deepens US LNG Footprint with Rio Grande Stake
XRG, the investment arm of Abu Dhabi National Oil Company (ADNOC), has acquired an additional stake in Trains 4 and 5 at the Rio Grande liquified natural gas (LNG) terminal in Brownsville, Texas, deepening its exp ...
Trump Issues Oil Firms Investigation into Pump Price Gouging
US President Donald Trump has instructed the Department of Justice (DOJ) to investigate oil companies for failing to lower gasoline prices in line with falling crude costs, accusing the companies of "gouging" cust ...
Oil Markets Reassess Gulf Supply Losses Amid Hormuz Disruptions
Oil markets continue to reassess the impact of the conflict with Iran following Tehran's declaration that the Strait of Hormuz was "closed," even as evidence suggests Gulf crude oil exports have sustained momentum ...
Badawi, KPC’s Al‑Sabah Explore Boosting Kuwaiti Investment in Egypt’s Oil, Gas
Badawi met with Sheikh Nawaf Saud Al-Sabah, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC), on the sidelines of his visit to the United States.
Egypt’s US LNG Imports Halve in May
Egypt's liquefied natural gas (LNG) imports from the US declined to approximately 300,000 metric tons (mt) in May, nearly half its typical monthly intake of around 600,000 mt, Reuters reported, citing maintenance ...
US Energy Storage Jumps 32% to Q1 Record
US energy storage developers added 9.7 gigawatt-hours (GWh) of new capacity in the first quarter (Q1) of 2026, the highest level ever recorded for that period, with a 32% year-on-year (YoY) increase, Reuters said ...
US Waiver on Russian Oil Purchases Expires
The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude, to lapse
