A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
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Fatih Birol, the head of the International Energy Agency (IEA), says the energy sector is experiencing a new wave of instability due to escalating trade tensions, as reported by the Financial Times.
Chevron is moving forward with plans to ramp up oil production and reduce costs. In 2026, the company intends to boost energy output in the Gulf of Mexico by up to 300,000 barrels per day. The $1.6 billion Ballymore project will play a key role in Chevron achieving this goal.
Oil prices climbed higher in early trade on Tuesday. According to Reuters, investors took advantage of the previous day's price drop to cover short positions. However, concerns over a potential US recession driven by President Donald Trump’s tariff policies continue to weigh on the market.
Donald Trump plans to increase American energy production. The US Interior Department is drafting a new five-year leasing program, taking public input for offshore oil and gas development projects, but has not yet disclosed specific locations or timelines for these projects.
Event announcement Brent
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