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Daily news and original analysis on the Cyprus and Eastern Mediterranean oil & gas sector.

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OilPrice·Apr 10·1 min read

Strait of Hormuz Constraints Keep Oil Prices Elevated

Oil prices are holding near $100 per barrel despite a U.S.-Iran ceasefire, indicating that factors beyond immediate geopolitical tensions are supporting prices. The Strait of Hormuz, a critical chokep

US Oil, Gas Drillers Take the Foot Off the Gas As Prices Climb

The US oil and gas rig count has decreased, with the total number of active rigs falling to 545, a decrease of 38 rigs compared to the same period last year. Th

OilPrice·Apr 10

Novorossiysk Restarts Oil Loadings at Reduced Capacity After Drone Strike

The Russian Black Sea port of Novorossiysk has resumed limited oil loadings following a drone attack that halted operations earlier in the week. Only one berth

OilPrice·Apr 10

Oil Ignores Escalation, Logs Biggest Weekly Drop Since 2025

Oil prices are experiencing their largest weekly drop since 2025 despite escalating tensions in the Middle East. The market's focus appears to be on the possibi

OilPrice·Apr 10

JP Morgan Warns Oil Could Hit $120 if Hormuz Stalemate Drags Into July

JP Morgan has warned that oil prices could surge to $120 per barrel if the disruption to vessel traffic through the Strait of Hormuz continues until July. This

OilPrice·Apr 10
Apr 10

Drillship comes to Africa for Türkiye’s first deepwater drilling foray abroad

Apr 10

Aphrodite Group Initiates Prelim Deals for Sale of Cypriot Gas to Egypt

Apr 10

Oil Prices Tumble as Traders Unwind Geopolitical Bets

Apr 10

A Shaky Truce and Unclear Goals in the Middle East

Apr 10

Why Oil Traders Are Watching Patterns, Not Politics

Apr 10

The Worrying Feedback Loop Between War, Oil, and Markets

Apr 10

Ventura Offshore’s sixth-gen drillship picks up 135-day extension in Brazil

Apr 10

TotalEnergies’ and Aramco’s SATORP refinery suffers operational shutdown

Apr 10

Subsea7 secures Sépia 2 field contract from Petrobras

Apr 10

Occidental Discovers Oil Near Existing Infrastructure off Louisiana