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The Marked Chart Wire · Energy
Bannerman
Bannerman Petroleum plans to begin production in 2028 following a $320 million investment by CNOL and a final investment decision for the Etango-8 project.
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Oil Prices
TotalEnergies expects fourth-quarter crude prices to exceed $100 per barrel and LNG to top $14 per Mbtu. The company also projects production growth of over 3 percent excluding Middle East impacts.
Energy Supply
Treasury Secretary Scott Bessent stated that the US is facing an energy supply shock and suggested the Federal Reserve should remain open-minded about its response.
Oil
US crude oil prices increased as investors weighed potential disruptions to supply from the Middle East region.
Oil Inventories
The Energy Information Administration reported that crude oil inventories dropped by 1.892 million barrels, beating the zero-barrel forecast. Gasoline stocks rose by 3.87 million barrels, while distillate inventories declined by 1.462 million barrels.
Iran
Futures briefly crossed the 100 euro mark per megawatt hour, a level unseen since late 2022. Costs have risen sharply since the Iran conflict, adding over 100 billion euros to the region's import bill.
Commodity Prices
The World Bank projects a 5.2 percent decline in global oil supply for 2026, marking the steepest drop in four decades. It also forecasts a 23 percent rise in overall commodity prices before a 7 percent fall in 2027.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.