Oil Prices Dip as US-Iran Talks Continue; Jersey Oil & Gas Reports Solid Interim Results
Oil prices took a slight hit on Monday, with WTI down by $1.41 and Brent decreasing by $0.79. This has widened the differential to over $13. The US and Iran continue to engage in third-party talks, mediated by Qatar diplomats, who claim that Iran is willing to discuss nuclear issues.
A Reuters report suggests that an average of 12.8 million barrels per day (b/d) are being exported from key states in the Gulf, with Saudi Arabia accounting for around 6 million b/d and the UAE and Iraq making up most of the rest. This would mean that as much as 80% of pre-war demand is being met.
Jersey Oil & Gas (JOG) has announced its unaudited interim results for the six months ended June 30, with a focus on domestic energy production and a solid financial position. The company's CEO, Andrew Benitz, emphasized the need for a supportive regulatory and fiscal system that prioritizes domestic energy.
Petro Matad also released its unaudited interim results, showing a loss of $0.59 million for the six-month period ended June 30. However, production from the Heron-1 and Gazelle-1 wells in Block XX averaged 241 barrels of oil per day (bopd) during the first half of 2026.