https://oilprice.com/rss/main All the latest in Oil, Gas, Commodity news and analysis Mon, 15 Jun 2026 08:33:49 -0500 https://oilprice.com/Latest-Energy-News/World-News/First-LNG-Tanker-Clears-Hormuz-After-US-Iran-Deal-Announcement.html oilprice-news-44651 An LNG carrier successfully passed through the Strait of Hormuz early on Monday, the first tanker carrying energy products to clear the chokepoint since the U.S. and Iran announced a deal to reopen the Strait later this week.   The U.S. and Iran late on Sunday announced a deal to reopen the Strait of Hormuz more than 100 days after its closure. This re-opening could happen as soon as an agreement is signed on Friday. News of the deal sent oil prices tumbling early on Monday, with Brent Crude prices down to $82 per barrel, and WTI Crude falling… Mon, 15 Jun 2026 08:30:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Charles Kennedy https://oilprice.com/Latest-Energy-News/World-News/90-of-Global-Businesses-Expect-to-Electrify-Operations-by-2035.html oilprice-news-44648 An overwhelming 90% of global businesses expect to electrify their operations by 2035 amid geopolitical instability fueling volatility in fossil fuel supply and prices, a new survey showed on Monday. The polling, conducted by consultancy Public First across key economies and emerging markets, was commissioned by E3G, We Mean Business Coalition, and the Global Renewables Alliance. The survey in late April asked 1,994 business CEOs, VPs, directors, or senior-level management of medium and large organizations in 18 markets how they feel about electrification… Mon, 15 Jun 2026 07:30:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Tsvetana Paraskova https://oilprice.com/Latest-Energy-News/World-News/Chinas-Return-to-the-Oil-Market-Could-Boost-Inflation.html oilprice-news-44647 The U.S.-Iran agreement to reopen the Strait of Hormuz could prompt China to return to buying more crude after months of multi-year-low purchases, which could reignite inflationary pressures despite the expected ease of oil flows from the Middle East.    Late on Sunday, the U.S. and Iran announced a deal to reopen the Strait of Hormuz more than 100 days after its closure. This re-opening could happen as soon as an agreement is signed on Friday. News of the deal sent oil prices tumbling early on Monday, with Brent Crude prices down to… Mon, 15 Jun 2026 06:30:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Tsvetana Paraskova https://oilprice.com/Latest-Energy-News/World-News/Indias-Solar-Capacity-Set-for-22-Annual-Growth-Through-2035.html oilprice-news-44646 India’s solar capacity is set to surge by 22% each year by 2035 as the data center boom will drive increased power consumption, a new report by Nuvama showed on Monday.    The consultancy estimates that India’s total power demand will rise by 6% every year over the next decade, “driven by economic growth, rising urbanisation, manufacturing expansion and increasing electrification across sectors,” according to the report cited by Indian news outlet ANI. Solar growth will vastly outpace overall power demand as power-intensive… Mon, 15 Jun 2026 05:30:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Tsvetana Paraskova https://oilprice.com/Energy/Oil-Prices/US-Iran-Deal-Doesnt-Mean-a-Swift-Return-of-Oil-and-Gas-Flows.html oilprice-article-44651 The U.S.-Iran deal and the potentially imminent reopening of the Strait of Hormuz do not mean that oil and gas trade will quickly return to its previous levels. The announcement of the deal is just the first step, and it could take months for oil and gas shipments in the region to return to pre-war levels. Middle Eastern producers have been forced to shut in more than 10 million barrels per day of oil production since the Strait of Hormuz was closed three and a half months ago. Producers will need months to fully ramp up wells to previous output… Mon, 15 Jun 2026 04:25:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Tsvetana Paraskova https://oilprice.com/Latest-Energy-News/World-News/Japanese-Shipping-Companies-Hold-Back-Despite-Hormuz-Deal.html oilprice-news-44645 Japanese shipping companies that own vessels stuck near the Strait of Hormuz are in no rush to test the veracity of news that the U.S. and Iran had agreed to end their hostilities, with Iran reopening the strait. They will wait until the formalization of the agreement, set to be signed on Friday, Reuters reported. Several hundred tankers, LNG carriers, and cargo ships have been stuck around the chokepoint since the start of March, when Iran shut down the Strait of Hormuz in response to the missile strikes launched by the United States and Israel… Mon, 15 Jun 2026 04:12:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Irina Slav https://oilprice.com/Latest-Energy-News/World-News/Australian-Regulator-Clears-LNG-Strike.html oilprice-news-44644 The Australian Fair Work Commission has denied Inpex a request to stop a strike at the Ichthys facility that would affect production and exports at the 9.2-million-ton facility. According to a Reuters report, the operator of Ichthys had applied to the labor regulator for a suspension of the industrial action amid persistent failure to reach an agreement with trade unions. The WTC, however, sided with the strikers, rejecting the Japanese company’s argument that suspension of normal operations at the LNG platform would affect the Australian… Mon, 15 Jun 2026 03:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Irina Slav https://oilprice.com/Latest-Energy-News/World-News/LNG-Tanker-Heads-for-Strait-of-Hormuz-After-US-Iran-Deal-Announcement.html oilprice-news-44643 A liquefied natural gas tanker has headed for the Strait of Hormuz, following an announcement by President Trump that he had struck a deal with Iran for the reopening of the chokepoint. Itan confirmed the preliminary agreement. The agreement is scheduled to be signed on Friday, with details yet to be revealed. There will also be a 60-day ceasefire period until negotiations are completed on all conditions of the end of the war. Iran has demanded and received commitment for an end to the war in Lebanon, an unfreeze of oil funds frozen by the U.S.… Mon, 15 Jun 2026 01:30:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Irina Slav https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Plunge-as-US-and-Iran-Reach-Deal-to-Reopen-Strait-of-Hormuz.html oilprice-news-44642 Oil prices plunged in early Monday trading in Asia after the U.S. and Iran announced a deal to reopen the Strait of Hormuz more than 100 days after its closure. At the time of writing, Brent crude had dropped 3.95% to trade at $83.88 per barrel, while WTI had fallen 4.62% to $80.96 per barrel. Oil prices, which peaked in mid-May, have been slowly but surely trending downward in recent weeks on rumors of a deal, even after multiple escalatory strikes. On Sunday night, President Trump declared that a deal with Iran was complete, writing on social… Sun, 14 Jun 2026 20:05:54 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Josh Owens https://oilprice.com/Alternative-Energy/Nuclear-Power/Nuclear-Drives-All-of-the-Above-Trend-in-Energy-Security.html oilprice-article-44648 Japan plans to rebuild over a dozen nuclear reactors by 2050; China is building seven new ones this year alone; in the U.S., two companies are building a hybrid nuclear-and-gas power plant; Germany admitted killing nuclear was a big mistake. Nuclear is back—and it makes the backbone of a new approach to energy security. “We clearly need more nuclear power and we’re bullish on it,” the president of Microsoft, Brad Smith said recently, as quoted by the Wall Street Journal, which reported that nuclear is back in favor with… Sun, 14 Jun 2026 16:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Irina Slav https://oilprice.com/Energy/Energy-General/Alaskas-Untapped-Oil-Wealth-Is-Still-Struggling-to-Find-Investors.html oilprice-article-44637 Alaskan oil and gas production has always been a complicated issue, as energy companies want to tap the region’s vast reserves and environmentalists fear irreparable damage to the vulnerable ecosystem. The Biden administration introduced far-reaching protections in Alaska, aimed at preventing new oil and gas exploration and protecting the environment and wildlife. However, since President Trump came into office last year, he has encouraged new fossil fuel development in the region. Yet the response to the most recent energy auction suggests… Sun, 14 Jun 2026 14:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Felicity Bradstock https://oilprice.com/Energy/Energy-General/Silicon-Valleys-AI-Dreams-Face-a-Blue-Collar-Reality.html oilprice-article-44643 Most discussions about artificial intelligence focus on chips, data centers, power plants, and electricity demand. Those are all important. But another bottleneck is beginning to emerge, and it may prove to be an underappreciated challenge. The AI boom needs electricians. It also needs line workers, substation technicians, grid engineers, mechanical contractors, welders, construction crews, and commissioning specialists. These are not jobs that can be filled instantly with a software update or a new financing round. They require training, experience,… Sun, 14 Jun 2026 12:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Robert Rapier https://oilprice.com/Energy/Energy-General/Fiji-Blocks-Controversial-Australian-Backed-Waste-Incinerator-Project.html oilprice-article-44636 Fiji has rejected Australia’s proposal to ship waste to the South Pacific country to burn and produce energy, with Fiji’s ambassador to the UN, Filipo Tarakinikini, saying, “[We] must not become the Pacific’s ashtray.” The idea of exporting rubbish to Fiji to be burned for energy has quickly become known as “waste imperialism”, a concept that Fijians staunchly oppose due to health and environmental concerns. In June, the Fijian government rejected a plan proposed by Australian billionaire Ian Malouf to… Sun, 14 Jun 2026 10:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Felicity Bradstock https://oilprice.com/Energy/Energy-General/Fuel-Tax-Changes-Hit-Six-States-As-Energy-Inflation-Accelerates.html oilprice-article-44644 Oil markets extended their decline on Friday, with crude prices falling sharply after U.S. President Donald Trump said a peace agreement with Iran was close and canceled previously threatened military strikes. Brent crude slipped below $90 per barrel, trading around $88–$89, while WTI fell to roughly $85–$87, as traders priced in the possibility of de-escalation in the Middle East and a potential reopening of the Strait of Hormuz. The decline allowed motorists to enjoy some reprieve at the pump, with national average gas prices falling… Sat, 13 Jun 2026 16:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Alex Kimani https://oilprice.com/Energy/Energy-General/The-Promise-and-Peril-of-Jamaicas-Offshore-Oil-Ambitions.html oilprice-article-44635 Jamaica may be following in the footsteps of its Caribbean neighbours, such as Guyana, as it plans to drill for oil, despite being highly vulnerable to climate change. In recent years, Caribbean oil exploration has boomed, following successful drilling in Guyana and Suriname. But, at a time when the International Energy Agency (IEA) is calling for an end to exploration, will Jamaica pursue a future in fossil fuels? At present, Jamaica imports all its fuel, spending between $1.5 and $2 billion a year on energy imports. However, successful findings… Sat, 13 Jun 2026 14:00:00 -0500 Mon, 15 Jun 2026 08:33:49 -0500 Felicity Bradstock