03 Jun Latest oil prices news and expert commentary 03 June 2026
(Oilandgaspress) Ukraine staged a massive attack on a St Petersburg oil port today, ahead of a major economic forum hosted by Vladimir Putin in the city.
The attack occurred just hours before the opening of the landmark St. Petersburg International Economic Forum [SPIEF], involving high profile foreign guests from 76 countries, including the US but not most other NATO states.
The St Petersburg Oil Terminal is one of Russia’s most important Baltic Sea fuel-export hubs, handling millions of tonnes of petroleum products each year through rail-fed storage tanks and sea-tanker berths in the city’s main port. Drones were seen flying in sight of the giant 1,516ft Lakhta Centre, the highest building in the city, before striking targets. … Related News
Japan’s imports of crude oil slumped by 66% in April from a year earlier and will likely fall in May as well. Japan’s imports from Saudi Arabia crashed by nearly 58%, and supply from the United Arab Emirates to Japan plunged by 69.4%, Japanese government data showed last month. Of the total severely reduced crude supply, the Middle East continued to account for more than 90% of Japanese crude imports, at 93.7% in April. .Related News
OVO has agreed to pay into Ofgem’s Voluntary Redress Fund, following an investigation into OVO’s historic policies for supporting prepayment customers between 2018 and 2024.
The settlement includes £7 million paid into the Energy Industry Voluntary Redress Fund and £3.4 million in goodwill payments to customers who may have been put at greater risk due to process weaknesses. OVO has already paid £1.1 million in compensation to customers affected by other compliance cases.
OVO accepts that some of its historic processes fell short of the expected standards and has agreed to settle the case through Ofgem’s Alternative Action process.
Customers who may be eligible for a goodwill payment will be contacted directly by OVO. Customers do not need to take any action in response to this announcement… Related News
SMEs develop hydrogen technology, circular products and company charging infrastructure
Mona Neubaur: Here, international competitiveness is created from regional innovation.
In Detmold, solutions are being developed to power electric cars with exceptional efficiency – directly from the factory next door. In Emsdetten, experts are supporting medium-sized companies in implementing sustainable hydrogen technologies.
And in Herzebrock-Clarholz, light fixtures are designed so that individual components can be easily replaced – fully in line with the principles of a sustainable circular economy. Minister for Economic Affairs and Climate Protection Mona Neubaur is visiting these locations in Münsterland and East Westphalia-Lippe as part of her “NRW Innovation Tour 2026”. Related News
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $96.20 | Up |
| Crude Oil (Brent) | US$/bbl | $98.08 | Up |
| Bonny Light 29/05/26 CBN | US$/bbl | $98.44 | — |
| Dubai | US$/bbl | $103.15 | — |
| Natural Gas | US$/MMBtu | $3.24 | Up |
| Murban | US$/bbl | $97.88 | Up |
| OPEC basket 02/06/26 OPEC | US$/bbl | $101.58 | Down |
| At press time June 03, 2026 |
Octopus Energy has partnered with United Welsh to bring its groundbreaking Tenant Power tariff to social homes in Wales. Tenant Power is the UK’s first green energy tariff where both social housing landlords and tenants share the financial rewards of smart energy tech. Buildings equipped with solar panels and a compatible battery system can generate their own renewable energy. Any excess energy is stored in the battery and automatically sold back to the grid at peak times, helping to balance the grid and provide a return for landlords.
The result: tenants see their electricity unit rate bills fall by 30% – saving around £200 a year – compared to a standard variable tariff, while landlords earn revenue, making clean tech upgrades a smart long-term investment*. Adding a heat pump into the mix could help Tenant Power tenants save even more on their energy bills.
This win-win model removes one of the main barriers to green investment in social housing, paving the way for cleaner, fairer and cheaper energy for all… Related News
Octopus Energy has once again outperformed the market, scoring standout customer satisfaction ratings in Ofgem and Citizens Advice’s latest nationwide survey*. The Customers’ satisfaction with their supplier report confirms that 9 in 10 Octopus customers are satisfied or very satisfied overall (90%), significantly beating the GB average of 81%.
Octopus was the only supplier in the country to score significantly higher than the market average for overall customer satisfaction.
On customer service, Octopus scored a record 86%, outpacing the national average of 77% and once again leading the market.
Only 4% of Octopus customers reported being dissatisfied overall, and just 3% were dissatisfied with customer service – the lowest rates across all large energy companies. Related News
During the period from 28 to 29 May 2026, Eni acquired on the Euronext Milan no. 1,771,356 shares (equal to 0.06% of the share capital), at a weighted average price per share equal to 22.5816 euro, for a total consideration of 39,999,972.68 euro, within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 6 May 2026, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends, resolved by the same Shareholders’ Meeting.
On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Related News
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