Oil prices declined this week as geopolitical tensions eased, with Brent crude falling after Israel and Hezbollah agreed to a ceasefire and the U.S. and Iran digitally signed a memorandum of understanding on ending the war. Iran resumed exports, reportedly shipping 20 million barrels following the agreement, while momentum built around the reopening of the Strait of Hormuz as tanker traffic resumed and shipping flows gradually normalized. In the LNG sector, reports surfaced that ExxonMobil is evaluating Woodside as a potential acquisition target, and QatarEnergy indicated it could restore LNG output within a month. Global clean energy investment reached $2.2 trillion, nearly double fossil fuel investment levels, even as U.S. electric vehicle adoption slowed. The market is shifting from pricing disruption to pricing normalization, though capital continues to flow toward long-term energy infrastructure.
Exxon Mobil CorpQatarEnergy indicated it could restore LNG output within a month, but no direct impact on its own price or operations.