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At Close: Jun 05, 2026
Why India Will Struggle to Reduce Its Reliance on Russian Oil
11:00pm, Tuesday, 03'rd Feb 2026
India relies on Russia for roughly a third of its oil imports, up from just 2% before Russia invaded Ukraine in early 2022.
US says it has returned to Venezuela all $500 million of initial oil sale
08:32pm, Tuesday, 03'rd Feb 2026
The United States has now returned to the Venezuelan government all $500 million from the initial sale of oil that was part of a deal reached between Caracas and Washington last month, a U.S. official
Oil Rises Amid U.S.-Iran Tensions
08:18pm, Tuesday, 03'rd Feb 2026
Oil rose in the morning Asian session amid U.S.-Iran tensions.
Oil giants brace for a bruising earnings season — with shareholder returns at risk
07:01pm, Tuesday, 03'rd Feb 2026
Weaker crude prices have ramped up the pressure on Big Oil's commitment to allocating cash to shareholders. Norway's Equinor, France's TotalEnergies, and Britain's Shell and BP are all expected to rep
Crude Oil Price Forecast: Pullback Tests Uptrend Support
05:16pm, Tuesday, 03'rd Feb 2026
A pullback in WTI may be complete after a rebound near $61.5. A close above the 200-day line could set up targets near $67 and $71.
U.S. could issue general license for oil companies to produce in Venezuela this week, source says
03:57pm, Tuesday, 03'rd Feb 2026
The Trump administration could issue a general license this week allowing U.S. companies to pump oil in Venezuela, said a person familiar with the plan. Chevron is the only U.S. company currently allo
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As U.S. Navy Shoots Down Iranian Drone
01:44pm, Tuesday, 03'rd Feb 2026
U.S. Navy shot down the drone that was moving towards an aircraft carrier.
US soon to license expanded oil production in Venezuela, sources say
01:16pm, Tuesday, 03'rd Feb 2026
The U.S. government is working to issue as early as this week a general license allowing companies to produce oil and gas in Venezuela, as the Trump administration seeks to expand output from the OPEC
US refiners struggle to absorb sudden surge in Venezuelan oil imports
12:21pm, Tuesday, 03'rd Feb 2026
Oil refiners on the U.S. Gulf Coast are struggling to absorb a rapid surge in Venezuelan crude shipments since last month's flagship $2 billion supply deal between Caracas and Washington, pressuring p
Trafigura ships first Venezuelan fuel oil to Europe in nearly two years
11:42am, Tuesday, 03'rd Feb 2026
Trader Trafigura has moved the first shipment of Venezuelan fuel oil to Europe in nearly two years, two trading sources and data seen by Reuters showed.
India says it will stop buying Russian oil. Shadow fleet vessels are still unloading sanctioned crude at its ports
11:13am, Tuesday, 03'rd Feb 2026
Kpler data shows four Russian shadow fleet tankers unloading sanctioned oil in India. On Monday, President Trump said India had agreed to a trade deal that included a promise to stop buying Russian cr
Oil prices to trade at $55–$65 range through Q1 2026 amid persistent oversupply, demand headwinds, warns Mind Money's Igor Isaev
08:06am, Tuesday, 03'rd Feb 2026
With Brent crude trading in the $65–$70 corridor and a 2.3 million barrels per day (bpd) global surplus pressuring prices, Igor Isaev, Doctor of Technical Sciences and Head of Analytics at Mind Mone
BP Investors Demand Proof That Shift Back to Oil and Gas Will Boost Returns
07:45am, Tuesday, 03'rd Feb 2026
The company is now increasing oil-and-gas investment to around $10 billion a year to 2027—20% higher than previous guidance—and expects returns of greater than 15% on the projects.
Oil News: Bulls Defend Trend Line as Crude Oil Outlook Hinges on Demand and Iran News
06:06am, Tuesday, 03'rd Feb 2026
Crude oil steadies after Iran headlines trigger a shakeout as traders watch demand, strong dollar pressure, and key trend line support to gauge market direction.
Russia's Novak expects oil demand to pick up in March, April
05:40am, Tuesday, 03'rd Feb 2026
Russian Deputy Prime Minister said on Tuesday that there is currently a balance on the global oil market, while demand will be gradually rising in March and April, when asked about the OPEC+ group's p
