Oil Markets

Aside from a handful of high-profile deals, merger and acquisition activity in the US oil and gas sector has been tepid in recent months even as war in the Middle East pushed oil prices to multi-year highs.
In this episode, S&P Global Energy's Christopher van Moessner, editor, oil futures, is joined by Americas news editor Ashok Dutta and senior reporter Eamonn Brennan to discuss the outlook for M&A activity in the sector and how it has been impacted by a White House that from the start has positioned itself as pro-oil. They dig into how the administration's deregulation efforts have so far failed to manifest in a wave of oil and gas dealmaking that has been seen in other industries, and how capex discipline and general price uncertainty have presented headwinds to M&A activity in the sector.

The effective closure of the Strait of Hormuz following escalating tensions in the Middle East sent European fuel oil imports from the Gulf plummeting 95% in the first half of 2026. Supply chains faced unprecedented disruption while risk premiums skyrocketed across the bunker market.
In this episode, S&P Global Energy's Emma Kettley, associate director, price reporting, is joined by reporters Joseph Jaffe, Iman Rezig and Awa Bobb in examining how different fuel oil grades responded to the crisis, from high sulfur fuel oil cracks surging into positive territory to bunker-barge spreads widening over 200% from pre-war levels. They dissect how the June peace agreement between the US and Iran has reshaped fuel oil fundamentals, why VLSFO markets proved more resilient than HSFO during the crisis, and what the current contango structure signals for European fuel oil supply as summer demand patterns emerge.

Asia's energy security has always rested on a difficult bargain -- deep reliance on Middle Eastern crude in exchange for scale, proximity and established commercial relationships. The recent conflict tested that bargain in real time, forcing refiners, traders and governments to reroute supply, reassess risk and confront the true cost of dependence. As risk premiums fade and markets move from crisis response to post-war recalibration, the bigger question is no longer just where the next cargo comes from -- it is whether Asia can build a more resilient energy supply system. In this  episode of Platts Oil Markets podcast by S&P Global Energy, Asia Energy Editor Sambit Mohanty discusses with Calvin Lee, head of Asia content at Platts, and Nick Sharma, head of global upstream insights at CERA, how the supply shock is reshaping Asia's crude sourcing and refining economics, as well as building a case for more investment in domestic oil and gas production.

As summer travel is getting into its stride, European supply chains for diesel and gasoline are geared to meet the seasonal uptick in road fuel demand. However, with production operating near capacity, demand may outpace available supply, possibly altering consumption patterns and prompting end-users to switch to alternative modes of transport.
In this episode, Gary Clark, Friedrich Gutsche, Sophia Aung, and Elza Turner uncover how recent price developments in European road fuel markets amid easing supply tightness have been providing relief for end-consumers. Tune in to find out how the World Cup, government policy, and the Middle Eastern conflict are shaping local fuel prices.

With Strait of Hormuz constraints reshaping global supply routes, Latin America is stepping into the spotlight. In this episode, Jeff Mower, Kate Winston, Sheky Espejo and Charles Newbery unpack how producers across the region are positioned for upstream expansion. What are producers learning from Argentina's drive to boost Vaca Muerta oil output and exports? What does Colombia's upcoming election mean for oil growth? What will it take for investors to spend in Venezuela? Let's dive into what could drive the next wave of growth.