Latest market news
Independent UK financial coverage with full source attribution.
CVX Q2 2026: filings, holdings, and macro context
XOM Q3 2026 update — filings and holdings
COP Q3 2026 update — filings and holdings
CVX Q3 2026 update — filings and holdings
XOM Q3 2026 update — filings and holdings
Drone strikes hit Saudi East-West Pipeline; Saudi Arabia shuts system
Saudi Arabia shut down its 1,200-kilometre East-West Pipeline on 11 September 2026 following drone strikes on multiple pumping stations attributed to Houthi rebels, with drones reported launched from Iraq. The extent of physical damage and production volume impact had not been fully assessed at time of reporting.
Saudi Aramco halts Yanbu loadings after East-West pipeline drone attack; Brent at $108
Saudi Aramco suspended oil loadings at Yanbu on 15 September 2026 after drone attack damage to the East-West pipeline; Brent crude rose to $108 per barrel, the Shanghai Futures Exchange crude contract hit a reported record of $138 per barrel, and TTF natural gas rose 6% to $97.31 per MWh.
COP Q3 2026 update — filings and holdings
XOM Q3 2026 update — filings and holdings
CVX Q2 2026: filings, holdings, and macro context
COP Q2 2026: filings, holdings, and macro context
CVX Q2 2026 update — filings and holdings
XOM Q2 2026: filings, holdings, and macro context
Shell Q2 2026 profits rose; Glencore H1 marketing profit reached $3.3 billion
Shell Plc reported a significant Q2 2026 profit increase, with refining and trading divisions identified as primary contributors. Glencore separately reported a $3.3 billion H1 marketing division profit; both results occurred during a period of Iran-related oil market volatility.
BP initiates North Sea oil and gas business sale process
BP formally began a sale process for its North Sea oil and gas business, as reported on 31 July 2026 by Oilprice, Guardian Business, and Bloomberg Markets. BP.L and BP were identified in the brief as directly affected instruments, though no price moves were reported.
Burnham signals 'pragmatic' North Sea approach after Trump call
UK Prime Minister Andy Burnham said he told Donald Trump he would take a 'pragmatic' approach to North Sea oil and gas, stopping short of the full opening Trump had publicly claimed.
ExxonMobil and Chevron Q2 2026 combined profits exceeded $26 billion
ExxonMobil (XOM) and Chevron (CVX) reported combined Q2 2026 profits exceeding $26 billion, a rise of more than 300% year-on-year, with elevated Brent crude and WTI prices linked to Iran-related geopolitical tensions cited as the underlying driver.
Shell Q2 adjusted earnings double to $9.84bn, best since 2022
Shell plc reported Q2 2026 adjusted earnings of $9.84bn, more than doubling year-on-year and beating the $8.7bn analyst consensus, as higher oil prices, record refinery utilisation and strong trading drove the company's best quarterly result since 2022.
Supertanker Olympic Luck rerouted via Suez after Houthi blockade threat
The supertanker Olympic Luck diverted from the Red Sea to the Suez Canal and Mediterranean route on 27 July 2026 following Houthi threats to Saudi-linked shipping; tanker transits through the Bab el-Mandeb Strait fell to 11 vessels on Sunday, a multi-month low.
US airlines cut profit forecasts as jet fuel prices spike 20%
US airlines including American Airlines (AAL), Delta Air Lines (DAL), United Airlines (UAL), and Alaska Air (ALK) revised earnings estimates and full-year guidance downward in July 2026 after jet fuel prices rose 20%; Brent crude climbed above $100 per barrel and WTI rose alongside it during the same period.