Hormuz Premium Gone, Eni-Mercuria Eyes LNG Trade, RBL Math Tightens at $67
Hormuz exports recover, WTI opens at $67.66, and the geopolitical premium that ran crude to $110 in April is effectively gone. The RBL reset clock is now ticking at sub-$68.
CIR Research Desk
ExxonMobil Becomes a Texas Company on Q3's Opening Down Day
XOM | NYSE | Source data: ExxonMobil 8-K filed July 1, 2026 (SEC accession 0001193125-26-291986); Yahoo Finance intraday prices; EIA FRED series DCOILWTICO, DCOILBRENTEU, DHHNGSP
Q3 2026 opened with ExxonMobil completing the largest corporate redomiciliation in US energy history — and the market selling off across all three commodity benchmarks
Q3 Opens Below $69: The RBL Reset Season Has Started
Wednesday, July 1, 2026 — WTI opened Q3 below $69, slipping to $68.69 as OPEC+ output additions moved from commitment to barrel. That $2-plus gap from Q2's June 30 close of $71 isn't noise — it's Q3's first data point, and it
Talos Buys Shell's Gulf Deepwater for $850M on Q2's Last Day — What $70 WTI Looks Like From Offshore
Talos Energy acquires Shell's Gulf of America deepwater assets — $850M gross, $450-500M net — on the last trading day of Q2. At $70 WTI, the deal's logic says everything about where offshore operators see the floor.
Q2 Closes at $71: WTI's Quarter-End Print and the Gas Divergence That Isn't Going Away
WTI closes Q2 at $70.95 as OPEC+ supply math resets operator price decks. Henry Hub diverges higher at $3.22. Tuesday Technology beat: EQT and EXE's AI data center positioning.
SandRidge's $65M Bet: Mid-Continent Consolidation Doesn't Wait for $80 Oil
SandRidge Energy (NYSE: SD) moved Monday without waiting for a higher oil price. The Oklahoma City independent filed an 8-K this morning announcing a definitive agreement to acquire producing assets and leasehold in the Cherokee Play — part of its Mid-Continent footprint — for $65 million cash. The deal closes
WTI at $70 and the LNG Bet: Monday's Weekly Setup
WTI opened Monday at $69.92 — a dollar bounce off last week's $68.88 close, but the context hasn't changed. Sub-$70 crude is now the new base case, and the market's first real test of operator resolve arrives this week through Q2 guidance