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The Latest Breaking News from Chris Wright

The Latest: Chevron expanding in Venezuela as Trump deal claims more oil reserves

Oil giant Chevron is expanding its operations in Venezuela as some details emerge about President Donald Trump's separate deal for a U.S.-controlled joint venture to develop more of the nation's proven reserves

The Independent UK

Trump ally defends Venezuela oil deal amid ‘gunpoint diplomacy’ criticism

Energy secretary Chris Wright denies US seeks to ‘take’ country’s oil, saying deal is transformation of relations

The Guardian - UK

US energy secretary vows oil output will double on visit to Venezuela

US Energy Secretary Chris Wright landed in Venezuela on Tuesday ahead of a signing ceremony for a landmark oil deal between the US government and Venezuela. The deal would see the US create and control a private company that will hold 65 billion barrels in proven oil reserves. This agreement…

France 24

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Chevron unveils $7 billion Venezuela deal as US claims a fifth of the country's oil

Chevron announced a $7 billion expansion deal for its Venezuelan operations on Wednesday, hours after the country's parliament approved handing Washington control over a fifth of its oil reserves.

Euronews

Hope and concern swirl for Ohioans around ‘world’s largest datacenter’

Piketon datacenter promises to generate thousands of jobs, but environmental groups voice concern over project

The Guardian - US

The Hormuz crude volume debate masks the real shortage of refined fuels

The oil market is focused on disputed estimates of crude flows through the Strait of Hormuz, but Asia’s refined fuel markets show clearer signs of disruption. Imports of diesel, jet fuel and gasoline are down 21% from pre-conflict levels, while refining margins remain elevated, putting greater pressure on less wealthy…

The Economic Times

Iran says Strait of Hormuz will remain closed until US changes course

Iran's Mohsen Rezaei stated the Strait of Hormuz remains closed until US behavior changes. He claimed America relies on economic pressure after abandoning military options against Tehran. Rezaei alleged Israeli Prime Minister Netanyahu assured President Trump an economic blockade would force Iran's surrender. Iran has developed ways to bypass sanctions…

The Economic Times

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Crude Oil Prices Rise as Middle East Hostilities Persist

October WTI crude oil (CLV26 ) closed up +0.23 (+0.26%) on Friday, and October RBOB gasoline (RBV26 ) closed up +0.0377 (+1.25%). Crude oil and gasoline prices settled higher on Friday, with gasoline posting a 3.5-week high. Crude prices were supported on Friday by threats from President Trump to crush...

Barchart

Crude Oil Prices Consolidate Below Thursday’s 1-Month High

October WTI crude oil (CLV26 ) is down -0.14 (-0.16%) today, and October RBOB gasoline (RBV26 ) is up +0.0540 (+1.79%). Crude oil and gasoline prices are mixed today, with gasoline climbing to a 3.5-week high. Crude prices are under mild pressure today as they consolidate below Thursday’s 1-month high....

Barchart

Controversial California oil pipeline can continue to operate, judge rules

State sought to stop system off coast of Santa Barbara from resuming operations after Trump ordered its reopening

The Guardian - US

Crude Oil Prices Rally as President Trump Escalates Pressure on Iran

September WTI crude oil (CLU26) closed up +2.00 (+2.33%) on Thursday, and September RBOB gasoline (RBU26) closed up +0.0078 (+0.24%). Crude oil and gasoline prices settled higher on Thursday, with crude oil climbing to a 1-month high. Crude prices rose after President Trump threatened to crush Iran’s economy, dampening any...

Barchart

Crude Oil Prices Jump as Hopes Dim of Reopening the Strait of Hormuz

September WTI crude oil (CLU26) is up +2.03 (+2.37%) today, and September RBOB gasoline (RBU26) is up +0.0008 (+0.02%). Crude oil and gasoline prices are moving higher today, with crude oil climbing to a 1-month high. Crude prices are rising after President Trump threatened to crush Iran’s economy, dampening any...

Barchart

Trump Reaffirms 'Drill, Baby, Drill,' but Gavin Newsom Points to '$86 Billion' in Excess Gas Costs, ‘Big Oil’ Profits: ‘Can’t End the War…’

California Gov. Gavin Newsom slammed President Donald Trump as the ongoing tensions with Iran over the Strait of Hormuz continue to affect oil and fuel prices in the U.S.

Benzinga

Heightened Middle East Tensions Boost Crude Oil Prices

September WTI crude oil (CLU26) closed up +0.89 (+1.05%) on Wednesday, and September RBOB gasoline (RBU26) closed down -0.0466 (-1.41%). Crude oil and gasoline prices settled mixed on Wednesday, with crude oil posting a 4-week high. Wednesday’s sharp decline in the dollar index ($DXY ) to a 2.5-month low was...

Barchart

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Barchart

Crude Prices Supported by Dollar Weakness and Middle East Tensions

September WTI crude oil (CLU26) is up +1.42 (+1.67%) on Tuesday, and September RBOB gasoline (RBU26) is down -0.0122 (-0.37%). Crude oil and gasoline prices are mixed today, with crude oil posting a 3-week high. Today’s sharp decline in the dollar index ($DXY ) to a 2.5-month low is bullish...

Benzinga

The Iran War Sent Gas Prices Skyrocketing, but the US Now Faces a Diesel Problem

Diesel refining margins have surged to unprecedented levels as the Iran war tightens global fuel supplies, raising concerns that elevated diesel costs could ripple through trucking, agriculture and the broader U.S. economy.

Barchart

Crude Prices Gain on Reduced Middle Eastern Oil Supplies

September WTI crude oil (CLU26) closed up +0.44 (+0.52%) on Tuesday, and September RBOB gasoline (RBU26) closed up +0.0316 (+0.97%). Crude oil and gasoline prices extended Monday’s sharp rally on Tuesday and posted 3-week highs as the US and Iran remain deadlocked over control of the Strait of Hormuz, limiting...

Barchart

Crude Prices Supported as Strait of Hormuz Remains Closed

September WTI crude oil (CLU26) is up +0.80 (+0.95%) today, and September RBOB gasoline (RBU26) is up +0.0232 (+0.71%). Crude oil and gasoline prices extended Monday’s sharp rally today and posted 3-week highs as the US and Iran remain deadlocked over control of the Strait of Hormuz, limiting crude supplies...

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Benzinga

Trump Energy Secretary Chris Wright Says Clean Energy Policies Are ‘At Least as Responsible’ for High Prices as Iran War—Touts Texas Oil Boom

President Donald Trump‘s Energy Secretary, Chris Wright, says former President Joe Biden-era Clean Energy policies also share some blame for the high fuel prices at the pump amid ongoing tensions with Iran.

The Economic Times

US to announce steps to help refiners produce more fuel, energy chief Wright says

US Energy Secretary Chris Wright announced steps to increase refinery fuel output soon. High gasoline prices are a concern for President Donald Trump's party. Refineries are running at record rates while Middle East facilities are turned down. Wright stated increasing output is key to lowering gasoline prices. He added that…

Barchart

Crude Prices Jump as US-Iran War at a Standstill

September WTI crude oil (CLU26) closed up +2.10 (+2.55%) on Monday, and September RBOB gasoline (RBU26) closed up +0.0860 (+2.70%). Crude oil and gasoline prices rallied to 3-week highs on Monday and settled sharply higher. Concerns that the US-Iran war will remain unresolved and keep Middle East oil supplies limited...

Fortune

U.S. strategic reserves are getting so low it threatens damaging the 60 underground salt caverns storing American oil

“We should be highly concerned about the integrity of the caverns anytime crude inventories drop below 300 million barrels,” one petroleum engineering professor warned.

The Guardian - US

Fossils show huge carbon emissions harm forests, not ‘green the planet’

Study of 56m-year-old leaves counters claims from Trump administration members of ‘benefits’ of fossil fuel pollution

The Economic Times

US says more oil is leaving Middle East. Is it really?

US Energy Secretary Chris Wright claims nearly nine million barrels daily leave the Strait of Hormuz. Vessel tracking services, however, report volumes closer to half this amount. Total Middle East crude exports remain below pre-conflict levels, according to tracking data.

Benzinga

Trump Says US Has ‘Total Control’ of Strait of Hormuz, Iran’s PGSA Says Waterway Remains 'Blocked'

The Persian Gulf Strait Authority (PGSA) pushed back against President Donald Trump‘s claims that the U.S. was in control of the Strait of Hormuz, saying that the waterway remains closed.

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