• Upstream
  • Pipelines & Transport
  • Downstream
Thursday, July 31, 2025
Oil&Gas Advancement
  • Home
  • News
    Hungary Russia Serbia Deal on Imports of Russian Crude Oil

    Hungary, Russia, Serbia Deal on Imports of Russian Crude Oil

    EQT Expands Gas Operations with Olympus Energy Acquisition

    EQT Expands Gas Operations with Olympus Energy Acquisition

    Turkey Iraq Pipeline Deal and Energy Cooperation Plans

    Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

    Aker BP JAPEX Norge Collaborate on North Sea Asset Trade

    Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

    Eni Ghana Expands Natural

    Eni Ghana Expands Natural Gas for OCTP to Power Ghana

    CNOOC Makes Landmark Offshore Oil Gas

    CNOOC Makes Landmark Offshore Oil & Gas Discovery

    Shell Receives Approval

    Shell Receives Approval for Oil & Gas Drilling Project

    Var Energi Partners with TechnipFMC

    Var Energi Partners with TechnipFMC for Subsea Projects

    Equinor Has Made Gas Discovery Near Major Export Facility

    Equinor Has Made Gas Discovery Near Major Export Facility

  • Projects
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Eni Ghana Expands Natural

    Eni Ghana Expands Natural Gas for OCTP to Power Ghana

    Var Energi Partners with TechnipFMC

    Var Energi Partners with TechnipFMC for Subsea Projects

    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Youth-Empowerment at Namibia Oil and Gas Conference 2025

    Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

  • Market Reports
    AI Technology Maturing the Oil and Gas Workforce

    AI & Technology Maturing the Oil and Gas Workforce

    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home News

Oil Prices Surge 3 Percent Amid Iran Move and US deal

in News
Oil Prices Surge 3 Percent
Share on FacebookShare on Twitter

Oil prices went up 3% on Wednesday because Iran stopped working with the U.N. nuclear inspectors and the U.S. and Vietnam made a trade agreement. However, a surprising spike in U.S. oil prices  supply kept from going up too much.

Brent oil closed $2.00 higher, or 3%, at $69.11 a barrel. U.S. West Texas Intermediate crude closed $2.00 higher, or 3.1%, at $67.45 a barrel.

Brent has moved between a high of $69.21 a barrel and a low of $66.34 since June 25. This is because worries about supply problems in the Middle East have eased after Iran and Israel reached a truce.

Iran passed a bill saying that the Supreme National Security Council in Tehran must approve any future inspections of its nuclear installations by the International Atomic Energy Agency. The government has said that the agency is supporting Western countries and giving Israel a reason to bomb.

“The market is pricing in some geopolitical risk premium from Iran’s move on the IAEA,” said Giovanni Staunovo, a commodity analyst at UBS. “But this is about sentiment, there are no disruptions to oil.”

Prices also went up after President Donald Trump and Vietnamese state media reported that the U.S. and Vietnam had reached a trade deal that places 20% tariffs on many of the Southeast Asian country’s exports after talks that went on to the last minute.

“Risk appetite appears emboldened by an apparent tariff deal between the U.S. and Vietnam today,” analysts at energy advisory firm Ritterbusch and Associates said in a note.

Prices went down early in the session after the U.S. Energy Information Administration stated that domestic crude oil prices & stocks grew by 3.8 million barrels to 419 million barrels last week. A Reuters poll of analysts had predicted a drop of 1.8 million barrels. Petrol demand fell to 8.6 million barrels per day, which raised worries about how much people would use it during the busy summer driving season.

“During summer time, 9 million (bpd) is basically the line in the sand to define a healthy market,” said Bob Yawger, director of energy futures at Mizuho. “We’re now well below that. That’s not a good sign.”

Priyanka Sachdeva, a senior market analyst at broking Phillip Nova, said that expected production increases by OPEC+ (the Organisation of the Petroleum Exporting Countries and its allies, including Russia) seemed to be already priced in and were unlikely to take markets off surprise again soon.

According to Kpler, Saudi Arabia’s exports rose by 450,000 bpd in June compared to May. This was the largest rise in more than a year. But Staunovo added that OPEC+ exports as a whole have stayed about the same or gone down a little since March. He thinks this tendency will continue over the summer since hot weather makes people want more energy.

The release of the key U.S. monthly employment report on Thursday will shape expectations around the depth and timing of interest rate cuts by the Federal Reserve in the second half of this year, said Tony Sycamore, an analyst at IG.

Lower interest rates might get the economy going, which would then increase the demand for oil.

Previous Post

Germany Allows Drilling in North Sea Protected Marine Zone

Next Post

Indonesia and Saudi Sign $27B Oil and Gas Investment Deals

Related Posts

Hungary Russia Serbia Deal on Imports of Russian Crude Oil
Downstream

Hungary, Russia, Serbia Deal on Imports of Russian Crude Oil

July 31, 2025
EQT Expands Gas Operations with Olympus Energy Acquisition
News

EQT Expands Gas Operations with Olympus Energy Acquisition

July 31, 2025
Turkey Iraq Pipeline Deal and Energy Cooperation Plans
News

Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

July 31, 2025
Aker BP JAPEX Norge Collaborate on North Sea Asset Trade
Exploration Development

Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

July 31, 2025
Eni Ghana Expands Natural
News

Eni Ghana Expands Natural Gas for OCTP to Power Ghana

July 28, 2025
CNOOC Makes Landmark Offshore Oil Gas
Exploration Development

CNOOC Makes Landmark Offshore Oil & Gas Discovery

July 21, 2025
Next Post
Indonesia and Saudi

Indonesia and Saudi Sign $27B Oil and Gas Investment Deals

LatestNews

EQT Expands Gas Operations with Olympus Energy Acquisition
News

EQT Expands Gas Operations with Olympus Energy Acquisition

July 31, 2025
Turkey Iraq Pipeline Deal and Energy Cooperation Plans
News

Turkey-Iraq Pipeline Deal and Energy Cooperation Plans

July 31, 2025
Aker BP JAPEX Norge Collaborate on North Sea Asset Trade
Exploration Development

Aker BP, JAPEX Norge Collaborate on North Sea Asset Trade

July 31, 2025
Eni Ghana Expands Natural
News

Eni Ghana Expands Natural Gas for OCTP to Power Ghana

July 28, 2025
CNOOC Makes Landmark Offshore Oil Gas
Exploration Development

CNOOC Makes Landmark Offshore Oil & Gas Discovery

July 21, 2025
Shell Receives Approval
Africa

Shell Receives Approval for Oil & Gas Drilling Project

July 21, 2025

About Us

Oil & Gas Advancement is a specialized platform delivering latest news and industry insights for the global oil and gas sector. Featuring market intelligence, expert opinions, events and updates, it serves as a trusted and strategic resource for industry stakeholders navigating energy transitions.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2025 Copyright Valuemediaservices 2025 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2025 Copyright Valuemediaservices 2025 All rights reserved.