Biden's ban on offshore drilling protects 625 million acres of US waters, prioritizing climate goals, but may face legal challenges from future administrations.

Shell successfully appeals a 2021 ruling, avoiding a requirement to reduce its emissions by 45% by 2030, marking a setback for climate activists.

Oil prices are rising due to recent conflicts between Israel and Hezbollah, with fears of Iranian retaliation potentially disrupting global oil supplies and pushing Brent crude to $75-$85 per barrel in September.

World's largest oil company, Saudi Aramco, reported a 3% decline in second-quarter profits to $29.1 billion due to lower crude production but still plans to pay $124.2 billion in dividends this year.

The US Energy Department plans to buy up to 4.5 million barrels of oil to replenish the Strategic Petroleum Reserve (SPR).

Chinese authorities are reviewing an investigative report which alleged the practice of using fuel tankers to carry cooking oil, rocking the country into a major food safety scandal.

The Texas energy industry is assessing the damage from Hurricane Beryl after the storm struck the US Gulf Coast.

Oil prices surged on Thursday, June 20, driven by a rally in equity markets and a decline in US crude stockpiles, reaching $75 per barrel for Brent crude and $72 per barrel for West Texas Intermediate.

Two Texas men were sentenced to 45 months in prison for trying to sell Iranian oil to a refinery in China in violation of US sanctions.

Oil prices surged as Goldman Sachs predicted a supply deficit due to summer demand, aiming for Brent crude to hit $86 per barrel despite OPEC+ production increase.