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The Marked Chart Wire · Energy
Middle East
Oil prices declined following renewed diplomatic efforts in the Middle East. Meanwhile, European natural gas prices rose to a four-year high.
Part of a series: Middle East tensions shift from warnings to diplomacy
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Natural Gas
Costs for natural gas in Europe climbed to their highest level in almost four years. Several liquefied natural gas equities are now trading near buy points.
HotIran
Brent crude prices exceeded $117 per barrel. The Saudi defense minister is heading to Iran to negotiate a reduction in hostilities.
Energy Markets
Fatih Birol, head of the International Energy Agency, stated that global energy markets might not return to prewar conditions within the next year.
Saudi Aramco
Saudi Aramco intends to start storing crude oil in Singapore during the second half of 2027. The move aims to strengthen supply-chain resilience.
Energy
Honeywell debuted its Forge Plant Cognition software at the Dangote Lekki refinery. The company estimates the technology will save more than 29 cents per barrel, or over $60 million annually at full capacity.
Oil
Crude oil declined more than 2 percent as traders balanced the risk of additional strikes on Saudi infrastructure against fears that high prices would reduce consumption.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.