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Spiking energy prices, more U.S. tariffs, and mushrooming spending on artificial intelligence are reawakening investors' inflation fears.
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Crude declined after reports on US-Iran diplomacy and continued Red Sea oil flows reduced immediate supply concerns.
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The company, which helps clients drill oil wells and map underground pockets of crude, said the conflict is encouraging customers to spread investment across more regions.
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Crude oil stocks, not including the SPR, stood at 411.7 million barrels on July 17, the EIA's latest weekly petroleum status report showed.
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The Australian company narrowed its output guidance for the year from 101-111 million barrels of oil equivalent to 99-105 MMboe, despite ramp-up at the Barossa and Pikka oil and gas projects.
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U.S. crude is drawing overseas interest from Asian and European refiners.
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However, adjusted net profit for January-June 2026 fell nine percent year-on-year to RUB 216.49 billion.
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Rystad Energy mapped four potential U.S.-Iran conflict scenarios to assess their impact on oil prices.
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The Chevron-led Aphrodite consortium, Cyprus Hydrocarbons and Egyptian Natural Gas signed a memorandum of understanding to enable the piped export of 100 percent of production from the Aphrodite field to Egypt.
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Offshore Energies UK announced that its CEO, David Whitehouse, had a 'constructive meeting' with the UK's new Secretary of State for Energy.
