Oman crude oil price crossed the $70.38 per barrel mark on Friday (June 4, 2021) comprising an increase by 24 cents from the price of Thursday, according to the DME. The Dubai Mercantile Exchange (DME) is the leading energy focused commodities exchange in the Middle East and home to the benchmark sour crude oil futures .
A potential revival of the Iran nuclear deal could lift the sanctions that have crippled the country’s oil exports since 2018. The timing of such an agreement is uncertain, as is the nature of potential sanctions relief. But if a deal is reached in the next month, Iran could raise its oil exports in the second half of the year and into 2022. Iran’s return to the market could
Number of active U.S. drilling rigs decreases this week
Xinhua
05 Jun 2021, 07:49 GMT+10
HOUSTON, June 4 (Xinhua) The number of active drilling rigs in the United States decreased one to 456 rigs this week, up by 172 year on year, according to the weekly data released Friday by Houston-based oilfield services company Baker Hughes. These active drilling rigs included 359 oil rigs operating in the U.S. oil fields, unchanged from the previous week; 97 gas drilling rigs, down by one from the previous week. There was no miscellaneous rigs, down by one from last week. The 456 rigs included 442 land drilling rigs and one inland water rig both unchanged from last week. There was 13 offshore drilling rigs, down by one from last week.
Delaware Business Now
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Gas averages around the Delaware Valley stayed within a penny of the price drivers were paying on Memorial Day.
Delaware’s gas prices rose a penny over the past week. But, thanks to the state’s lower gas taxes, the average price remained below $3 a gallon.
In its latest weekly report, the Energy Information Administration released new data that shows demand dropped while total domestic gas stocks increased last week. The demand decrease and supply increase helped stabilize prices, and likely help prices remain stable through the weekend and summer.
Today’s national gas price average is $3.04, unchanged from one week ago, 13 cents higher than one month ago, and $1.05 above the same period a year earlier.