20 Feb Energy Price, news updates and expert commentary
(Oilandgaspress) The U.S Supreme Court delivered a major blow to President Donald Trump, ruling Friday that he exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency.
The justices, divided 6-3, held that Trump’s aggressive approach to tariffs on products entering the United States from across the world was not permitted under a 1977 law called the International Emergency Economic Powers Act (IEEPA). The ruling invalidates many, but not all, of Trump’s tariffs. He could still seek to reimpose some tariffs using other laws.
The White House had no immediate comment on the ruling Related News
The European Commission is seeking clarification from the White House after the US Supreme Court struck down sweeping tariffs imposed by President Donald Trump in a landmark ruling that could have a knock-on effect on the European Union. “We remain in close contact with the U.S. Administration as we seek clarity on the steps they intend to take in response to this ruling,” the European Commission’s deputy chief spokesperson Olof Gill said on Friday after the ruling was made public.
The EU-US deal, inked last July by Commission President Ursula von der Leyen and President Donald Trump, set a blanket 15% tariff on EU exports while cutting duties on US industrial goods to zero in an agreement in favour of Washington. Related News
Hamid Ghanbari, Iran’s deputy foreign minister, reportedly said that Iran has formally proposed economic arrangements that would have been unthinkable even weeks ago.
“Mutual interests in the areas of oil and gas, joint fields, mining investments and even aircraft purchases have been included in the text of negotiations,” Mr Ghanbari said. Iran’s oil minister also said on Friday that cooperation with the United States in the oil and gas sectors is possible as part of the nuclear deal.“This time, for the sustainability of the agreement, it is necessary that America also be able to benefit in areas with high and rapid economic returns,” Mr Ghanbari said. Related News
In the February Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) now forecasts U.S. natural gas inventories to end the withdrawal season in late March at less than 1.9 trillion cubic feet. This is 8% below previous forecasts, prompting the forecast for the Henry Hub spot price for February and March to be 40% higher than last month’s STEO. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $66.28 | Down |
| Crude Oil (Brent) | USD/bbl | $71.58 | Down |
| Bonny Light 19/02/26 CBN | USD/bbl | $73.98 | — |
| Dubai | USD/bbl | $68.50 | Up |
| Natural Gas | USD/MMBtu | $3.12 | Up |
| Murban | USD/bbl | $71.83 | Down |
| OPEC basket 19/02/26 OPEC | USD/bbl | $69.79 | Up |
| At press time February 20, 2026 . |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
energy ,news ,oil market ,gas prices,oil price ,oil trends,crude oil market,automotive electrification,EV industry ,electric vehicle trends,automotive, forecast,
Sorry, the comment form is closed at this time.