Brent crude prices fell to their lowest level since August 19, while U.S. West Texas Intermediate (WTI) reached their weakest level since August 17 as concerns over immediate military escalation between the United States and Iran eased.
Tanker traffic through the Strait of Hormuz remained weak over the weekend, with fewer than 20 vessels crossing the key oil route as Iran and the United States exchanged threats.
Permian Basin Royalty Trust (NYSE:PBT) declared an August 2026 cash distribution of $871,663.17, or $0.018701 per unit, based on production from its underlying royalty properties.
Petrobras (NYSE:PBR) submitted an expression of interest to explore four offshore blocks in Ghana’s Keta Basin as part of efforts to expand its oil and gas reserves.
PermRock Royalty Trust (NYSE:PRT) declared a monthly cash distribution of $265,001.53, or $0.021782 per Trust Unit, based mainly on June 2026 production.
Brent crude futures and West Texas Intermediate crude futures moved lower on Friday but remained higher for the week as supply concerns linked to the U.S.-Iran conflict supported prices.
Brent crude futures for October delivery rose $1.20, or 1.3%, to $92.82 per barrel, while October West Texas Intermediate (WTI) crude futures increased $1.13, or 1.3%, to $85.52 as concerns over Middle East supply disruptions pushed prices higher.
Oil prices moved higher for a fourth straight day on Wednesday as investors assessed conflicting statements from the United States and Iran over shipping conditions in the Strait of Hormuz.
Flex LNG (NYSE:FLNG) reported Q2 2026 vessel operating revenue of $106.8 million, up from $80.5 million in Q1, as fleet-wide TCE rates increased to $86,119 per day.
CBL International (NASDAQ:BANL) reported H1 2026 revenue of $395.59 million, up 49.2% year over year, as higher marine fuel prices and increased sales volume supported growth.
Brent crude futures rose $0.89, or 1%, to $91.76 a barrel by 0641 GMT Tuesday, while U.S. West Texas Intermediate gained $1.05 to $85.55 as supply concerns increased.
Offshore and onshore Brazilian oil production infrastructure representing Ecopetrol’s US$1.2 billion acquisition of a controlling stake in Brava Energia.
