Oil & Gas 24 February 2026 - 11 March 2026

Santos Limited greenlights $357 million Moomba Central Optimisation project to cut costs, extend Cooper Basin gas output
···

Santos Limited greenlights $357 million Moomba Central Optimisation project to cut costs, extend Cooper Basin gas output

Santos Limited and Beach Energy approved a $357 million investment to overhaul the Moomba gas hub in South Australia’s Cooper Basin, replacing seven compressor stations with a single electric-driven facility. Santos expects over $600 million in savings and a 40,000-tonne annual cut in Scope 1 emissions. The project’s economics partly depend on finalising a gas supply deal with South Australia. Completion is targeted in three years.
March 11, 2026
Sable Offshore Corp shares jump as Trump weighs emergency powers for stalled California oil restart
···

Sable Offshore Corp shares jump as Trump weighs emergency powers for stalled California oil restart

The Trump administration may invoke emergency powers to help Sable Offshore Corp bypass California permitting delays, Interior Secretary Doug Burgum said Thursday. Sable’s oil remains stored at Las Flores Canyon, blocked by a court injunction and lacking pipeline or tanker access. Shares jumped 37.3% after the news. No Defense Production Act order has been issued, and legal challenges continue.
March 6, 2026
Standard Chartered raises 2026 Brent forecast as Hormuz shock keeps oil above $80
···

Standard Chartered raises 2026 Brent forecast as Hormuz shock keeps oil above $80

Standard Chartered raised its 2026 Brent crude forecast to $70 a barrel, citing risks from Middle East conflict and disrupted shipping. Brent traded at $83.84 early Thursday as trade through the Strait of Hormuz remained halted and Iraq cut output by 1.5 million barrels a day. War-risk insurance costs have surged five-fold. Goldman Sachs and UBS also lifted oil price forecasts, warning prices could top $100 if disruptions persist.
March 5, 2026
Heating oil price jumps above $3.25 as Hormuz disruption keeps fuel traders on edge
···

Heating oil price jumps above $3.25 as Hormuz disruption keeps fuel traders on edge

NYMEX April ULSD futures rose 2.2% to $3.2584 a gallon Wednesday as Middle East tensions stalled shipping through the Strait of Hormuz for a fifth day. U.S. distillate inventories increased by 0.4 million barrels last week but remain 3% below the five-year average, according to the EIA. Traders are watching Gulf shipping, Friday’s U.S. jobs report, and next week’s EIA update.
March 4, 2026
Shell stock price slips as Iran conflict pushes oil higher; buyback and LNG legal loss in focus
···

Shell stock price slips as Iran conflict pushes oil higher; buyback and LNG legal loss in focus

Shell’s U.S. shares fell 2.2% to $82.33 Tuesday despite oil prices rising on escalating conflict involving the U.S., Israel, and Iran. The company announced new share buybacks and lost a New York court challenge in an LNG dispute with Venture Global. Brent crude rose 3.3% early Wednesday to $84.07 a barrel. The Dow dropped 0.8% as energy prices fueled inflation concerns.
March 4, 2026
Chevron stock slips after hours despite oil spike — what CVX investors are watching next
···

Chevron stock slips after hours despite oil spike — what CVX investors are watching next

Chevron shares fell 0.4% to $188.77 in after-hours trading after Israel ordered the temporary shutdown of the Leviathan gas field. Oil prices surged, with Brent settling at $81.40 a barrel, the highest since January 2025. Citi raised its Chevron price target to $210, citing valuation support. Chevron options volume spiked, with heavy activity in upside calls.
March 4, 2026
Heating oil price today: ULSD futures jump 13% above $3 as Hormuz disruption squeezes diesel
···

Heating oil price today: ULSD futures jump 13% above $3 as Hormuz disruption squeezes diesel

NY Harbor ULSD futures jumped 13.45% to $3.29 a gallon Tuesday as Middle East shipping disruptions tightened distillate supplies. Brent crude rose 7.8% to $83.81 a barrel, and U.S. diesel futures topped $3 for the first time since November. Tanker traffic slowed in the Strait of Hormuz after attacks on ships. President Trump was set to review U.S. policy options to address rising energy prices.
March 3, 2026
Exxon Mobil stock price slips even as oil hits 19-month high on Hormuz threat
···

Exxon Mobil stock price slips even as oil hits 19-month high on Hormuz threat

Exxon Mobil shares fell 1.1% to $152.50 Tuesday despite Brent crude surging 7% on supply fears from the U.S.-Israeli conflict with Iran and attacks on Gulf energy sites. Qatar halted LNG output after drone strikes, impacting 20% of global supply. Wall Street indexes dropped over 2%. Exxon declined to comment on its Middle East operations, which account for about 20% of its output.
March 3, 2026
Strait of Hormuz shock: Oil and shipping costs surge as Iran warns ships could be set ablaze
···

Strait of Hormuz shock: Oil and shipping costs surge as Iran warns ships could be set ablaze

Oil and gas prices surged as the Strait of Hormuz stayed closed for a fourth day following Iranian attacks, stranding tankers and driving freight rates to records. Marine insurers canceled war-risk cover, and Qatar halted LNG output after drone strikes, tightening global supplies. India and China sought alternatives as container lines suspended Middle East bookings. Brent crude jumped 7.8% to $83.79 a barrel.
March 3, 2026
BP share price rises as Brent jumps above $80; traders watch Hormuz risk and OPEC+ next
···

BP share price rises as Brent jumps above $80; traders watch Hormuz risk and OPEC+ next

BP shares rose 1.1% to 493.1 pence in early London trading Tuesday, following a 2.1% gain Monday as Brent crude climbed above $80 a barrel amid supply fears linked to the U.S.-Israeli conflict with Iran. OPEC+ agreed to a modest output increase, but analysts say Gulf shipping risks outweigh supply changes. BP paused its $750 million buyback in February after $4 billion in charges on renewables and biogas assets.
March 3, 2026
Chevron stock price rises as oil jumps on Iran conflict; CVX traders eye March 5 shipping insurance trigger
···

Chevron stock price rises as oil jumps on Iran conflict; CVX traders eye March 5 shipping insurance trigger

Chevron shares rose 1.3% to $189.12 after oil prices surged on Middle East strikes and shipping disruptions in the Strait of Hormuz. Brent crude jumped as much as 13% before settling up 8.6%. Chevron temporarily shut Israel’s Leviathan gas field, while QatarEnergy halted LNG output. About 3.1 million Chevron shares traded by late morning.
March 2, 2026
Exxon stock watch: Oil jumps 10% on Iran conflict, setting up a big Monday for XOM
···

Exxon stock watch: Oil jumps 10% on Iran conflict, setting up a big Monday for XOM

Brent crude traded near $80 a barrel in weekend deals after U.S. and Israeli strikes on Iran, with at least 150 oil and LNG tankers halting near the Strait of Hormuz. Exxon Mobil closed Friday at $152.50, up 2.7%. OPEC+ agreed to raise output by 206,000 barrels per day from April. Several tankers and shipping firms suspended Hormuz transits after Tehran said it closed navigation.
March 1, 2026
BP share price could swing at the open as Iran talks and an OPEC+ decision put oil back in focus
···

BP share price could swing at the open as Iran talks and an OPEC+ decision put oil back in focus

BP shares closed at 470.25 pence in London, down 0.2%, while U.S.-listed shares rose 0.6% after hours. Brent crude traded near $71 as markets watched U.S.-Iran nuclear talks and awaited the March 1 OPEC+ meeting. Rising U.S. crude inventories limited oil price gains. BP’s buyback pause and focus on debt reduction continue to weigh on its stock.
February 26, 2026
Chevron’s Iraq oilfield gamble: one-year exclusive talks for West Qurna 2 after Lukoil sanctions
···

Chevron’s Iraq oilfield gamble: one-year exclusive talks for West Qurna 2 after Lukoil sanctions

Chevron has secured a one-year exclusive window to negotiate new terms for Iraq’s West Qurna 2 oilfield after U.S. sanctions forced Russia’s Lukoil to exit. Any transfer of the field requires Iraqi cabinet approval and clearance from U.S. sanctions authorities. West Qurna 2 produces about 480,000 barrels per day, nearly 10% of Iraq’s oil output.
February 25, 2026
1 2