The nation’s numbers of oil and gas rigs declined by two over the past week, reaching a new total of 543, according to the Baker Hughes Rig Count released Friday. Oklahoma’s count was unchanged from the previous week with 42 active rigs. The national number included a loss of one oil rig to 410 while …
Iran’s word that the Strait of Hormuz is open for all commercial oil tankers and commercial traffic and will never be closed again sent crude oil prices plunging Friday at nearly 12%. The news renewed optimism that the U.S. and Israeli led war that devastated Iran’s military sent oil prices into the $80 range weeks …
Oil prices plunged today after after Iran’s foreign minister said passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period and U.S. President Donald Trump said Iran has agreed to never close the strait again. Prices dropped at least 12% for West Texas Intermediate crude and Brent crude, …
