UBS lifts Brent year-end forecast to $110 as Houthis claim Ras Tanura strike
UBS now expects Brent to stay near $110 a barrel to the end of the year, up from its earlier $100 call. Oil eased on Tuesday as talks in Tehran went on,…
Energy Insight · page 3
BrentFront-month futures, Jan 27
$103.60 $/bbl
−$1.17 (−1.1%) on prior
Close 3 November 2026
WTIFront-month futures, Dec 26
$96.09 $/bbl
−$0.37 (−0.4%) on prior
Close 3 November 2026
Henry HubFront-month futures, Dec 26
$2.895 $/MMBtu
+$0.039 (+1.4%) on prior
Close 3 November 2026
TTF (Dutch gas)Front-month futures, Dec 26
$30.05 $/MMBtu
−$0.97 (−3.1%) on prior
Close 3 November 2026
Front-month futures, previous close; contract month on each box. Brent: NYMEX Brent Last Day Financial futures, which settle on ICE Brent. WTI and Henry Hub: NYMEX. TTF: Dutch TTF futures, converted to US$/MMBtu at the daily EUR/USD rate. Data: Yahoo Finance, delayed.
TotalEnergies completes $800mn sale of Nigerian oil stake but keeps LNG gas
TotalEnergies has completed the $800mn sale of its 10% non-operated stake in Nigeria's Renaissance JV oil licences to Vaaris. It keeps three gas licences that supply half of Nigeria LNG's feed gas.
Brent crude slips to $115.81 on Tehran talks as Houthis claim new pipeline strike
Brent crude settled 0.8% lower at $115.81 a barrel on Monday, as talks in Tehran raised hopes of easing tension. The Houthis said they struck Saudi East-West pipeline pumping stations again.
IEA’s Birol sees no return to pre-war energy markets in 2027
IEA chief Fatih Birol said he sees no credible path for energy markets to return to pre-war conditions next year. He warned of a tough winter for diesel and European gas.
BPCL to cut Russian crude in November as Middle East grades win on price
BPCL expects to buy less Russian crude in November because higher freight and weaker offers make Middle East grades cheaper. Russian oil made up about 37% of its crude in the September…
Saudi Arabia to store crude in Singapore’s Jurong Rock Caverns from 2027
Saudi Arabia plans to store crude at Singapore's Jurong Rock Caverns from the second half of 2027, the two countries' energy ministers said. The move brings supply closer to Asian buyers after…
Houthis claim strikes on Saudi East-West pipeline, Yanbu and Rabigh refinery
Yemen's Houthis said they targeted the Saudi East-West pipeline, its pumping stations, an Aramco facility in Yanbu and the Rabigh refinery. Saudi Arabia did not confirm the claims.
Brent crude settles at $116.72, its highest since April, as Houthi attacks go on
Brent crude rose $3.55 to settle at $116.72 a barrel on Friday, its highest close since 29 April. It gained 6.24% over the week as Houthi attacks on Saudi Arabia continued.
BPCL Q2 results: profit falls 21% to INR48.6bn as LPG losses offset refining gains
Bharat Petroleum's September-quarter profit fell 21% to INR48.6bn ($512mn) as below-cost sales of petrol, diesel and LPG offset strong refining margins. It also set up a company for its Ramayapatnam refinery.
Samudra Manthan: India to fund half of deepwater well costs under $8.9bn scheme
India's oil ministry has issued guidelines for the INR841bn ($8.9bn) Samudra Manthan offshore scheme. It will fund up to half the cost of deepwater wells, including in blocks already awarded.
HPCL shifts to delivered Middle East crude as freight hits $9 a barrel
HPCL now buys almost all its Middle East crude on a delivered basis, as tanker rates double and sellers with stranded cargoes offer discounts. Its LPG losses per cylinder are set to…
Eni Q3 results: profit doubles to €2.8bn, with extraordinary dividend and €3.8bn buyback
Eni's adjusted net profit more than doubled to €2.8bn ($3.1bn) in the third quarter. The Italian major added a €0.46-a-share extraordinary dividend and raised its 2026 buyback to €3.8bn.
Oil India strikes gas in Krishna-Godavari basin, with test flow of 200,000 cubic metres a day
Oil India has found gas in a previously unappraised formation in the shallow-water Krishna-Godavari basin. Its Godavari-1 well flowed up to 200,000 standard cubic metres a day in tests.
Reliance wins Gujarat High Court case against GAIL over Dahej gas transmission charges
The Gujarat High Court has struck down contract clauses that made Reliance pay GAIL transmission charges, although Reliance built its own pipelines to Dahej. GAIL must refund charges with 8% interest.
Petronas, TotalEnergies and Mitsui sign joint venture for 5 mtpa CO2 store off Malaysia
Petronas, TotalEnergies and Mitsui have signed a joint venture agreement to develop carbon storage off Peninsular Malaysia. The first phase could inject up to 5 mtpa of CO2 from as early as…
Shell and ExxonMobil weigh $8bn sale of chemicals venture Infineum
Shell and ExxonMobil are exploring a sale of Infineum, their 50:50 fuel and lubricant additives venture, at about $8bn, the Financial Times reports. Bank of America is advising.
UK approves Shell and Equinor’s Jackdaw gas field, with first gas due this month
The UK has cleared Adura's Jackdaw gas field in the North Sea, with gas due from the end of October. It should lift UK gas output by around 6% at peak.
Trump invokes Defense Production Act to fund US oil production and refining
President Trump has declared US oil production, refining, pipelines and storage essential to national defence under the Defense Production Act. The move could open federal funding for fossil fuel projects.
ONGC names executive director Sunil Kumar as next chairman from 7 December
The Appointments Committee of the Cabinet has named ONGC executive director Sunil Kumar as the company's next chairman. He succeeds Arun Singh for a combined three-year term from 7 December.
European Parliament backs three-year delay to EU methane rules for importers
The European Parliament voted to delay EU methane rules for oil, gas and coal importers by three years, two more than the Commission proposed. Talks with member states come next.
