The latest oil and gas news from around the world.
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Brent futures are understating physical market stress, analysts at BMI, a unit of Fitch Solutions, said.
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Energy markets remained volatile amid ongoing US-Iran tensions.
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Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu warned that the physical market 'does not run on political timelines'.
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Oil and gas prices plunged as traders weighed a potential US-Iran peace agreement.
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Iran has laid out an updated process for ships seeking to transit Hormuz, but several shipowners said they remained cautious about sending their vessels through until there are more details.
