Oil Prices (Latest) WTI Crude $96.84/bbl, Brent $101.05/bbl.

09 Apr Oil Prices (Latest) WTI Crude $96.84/bbl, Brent $101.05/bbl.

(Oilandgaspress) Petrol prices in Germany have risen more sharply than in neighbouring EU countries in recent days, according to European Commission data as of Wednesday afternoon.

Between March 30 and April 6, the price of petrol in Germany increased by around 11 euro cents (12 US cents) per litre, while prices in most neighbouring countries rose only by a few cents. Denmark recorded a similarly strong increase of about 9 cents, while prices in Poland and Austria declined due to government measures. Related News

The EU imports 80–85% of its oil, according to Eurostat, from a wide range of suppliers. The US is the largest, accounting for 15.1% by value, followed by Norway and Kazakhstan.

Most global crude trade is priced against Brent crude, the main international benchmark.

Prices for next month’s delivery rose from $72–$73 per barrel before the war to nearly $120 at the peak, before the ceasefire was agreed upon. Even after the ceasefire, the price was around $93 on Wednesday.

European gas prices have also climbed since 28 February, when the war started. Futures rose to €50 per MWh from about €35.5 before the war, peaking at €61.93/MWh on 19 March. The price settled around €44/MWh on Wednesday, after the ceasefire. Fixed contracts and government support can delay or soften the impact. In Germany, wholesale gas prices linked to TTF influence electricity prices by around 40% and household gas prices by roughly 50–60%, with the rest made up of taxes, network charges and policy costs. Related News

Chevron’s annual performance at a glance
$324 billion total assets, 3.7 million barrels of oil equivalent per day and $184 billion in revenue—2025 marked major milestones for Chevron, as the company worked to strengthen energy security and invested in innovative technology.

“The link between energy and human progress has never been clearer. People around the globe desire a world of energy abundance and the rising prosperity and opportunity it creates. The world needs what we provide, and Chevron has never been better positioned to deliver it.” Mike Wirth, CEO, Chairman of the Board

Chevron’s strategy is to leverage our strengths to safely deliver lower carbon energy to a growing world. Our objective is to safely deliver higher returns, lower carbon and superior shareholder value in any business environment. We are leveraging our capabilities, assets, partnerships and customer relationships as we aim to grow our oil and gas business, lower the carbon intensity of operations and grow our new energies business. Shale and tight portfolio spotlight: The Permian Basin For more than a century, Chevron has been a trusted partner in the Permian Basin – America’s most prolific oil field and a cornerstone of U.S. energy security. 2025 marks the centennial anniversary of Chevron’s operations in the Permian, a legacy built on scale, efficiency and innovation.

This year, Chevron achieved a historic milestone. Production in the Permian Basin averaged 1 million barrels of oil-equivalent per day (BOED), a target introduced more than five years ago and delivered on schedule. 6 Our position is unmatched – Chevron has a revenue interest in one of every five Permian wells, giving us visibility into operations and data across the basin. Legacy mineral rights, joint ventures and operated assets across our more than 2-million-acre footprint make Chevron’s position uniquely valuable.

Chevron’s Permian strategy has shifted from rapid growth to disciplined value delivery, with production now plateaued at more than 1 million BOED for the long term. This pivot prioritizes free cash flow generation while maintaining resilient, capital- efficient operations. Since 2020, Chevron has nearly doubled Permian production organically, driven by continuous technology and execution improvements – including advanced completion designs such as triple-frac development, surfactant deployment, inventory depth and the expanded use of digital and AI-enabled tools.

At mid-cycle prices, the Permian is expected to generate approximately $5 billion in annual free cash flow,* reinforcing Chevron’s commitment to higher returns and lower carbon. As global demand for affordable, reliable energy grows, our shale and tight portfolio – anchored by the Permian – is expected to remain a critical engine of value creation for decades to come. Related News