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Energy News, Top Headlines, Commentaries, Features & Events – EnergyNow.com

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US Could Lift Sanctions on More Russian Oil, Says Bessent
(Reuters) – Treasury Secretary ​Scott Bessent on Friday ‌said the United States could remove sanctions from more ​Russian oil, a ​day after Washington issued a ⁠30-day waiver allowing ​the sale of Russian ​crude currently stranded at sea to continue to India. “We may ​unsanction other Russian oil,” ​Bessent told Fox Business’ “Kudlow” program. “There ‌are ...

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Barclays Says Brent Could Test $120/bbl if Middle East Tensions Persist
(Reuters) – Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks. “These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are ...

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Venezuela Resumes Exports of Diluted Crude Oil After 15-Month Pause -Document
(Reuters) – Venezuela this month resumed exports of a key crude grade that had not been shipped since late 2024, diluted crude oil (DCO), with U.S. Chevron sending a 500,000-barrel cargo to the U.S. Gulf Coast, a document from state energy company PDVSA seen on Friday showed. The grade, produced from a blend of extra ...

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Venture Global’s CP2 LNG Plant Costs Increase by $4 Billion
(Reuters) – The anticipated construction cost for two phases of Venture Global’s CP2 LNG liquified natural gas project has jumped by $4 billion, or just under 14%, the company said in an annual report released earlier this week. It cited design modifications, inflation and the potential impact of tariffs imposed by U.S. President Donald Trump, ...

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Rip Up the Glut Forecasts – Mideast Oil Shock Signals Supply Crunch: Bousso
(Reuters) – The sudden and acute disruption to Middle East oil supplies caused by the U.S.-Israeli war with Iran is forcing buyers to tap every available barrel, rapidly dismantling forecasts of an oil glut this year. In February, the International Energy Agency forecast that global oil supply would exceed demand by around 3.7 million barrels ...

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