In a BMI report sent to Rigzone by the Fitch Solutions team early Friday, analysts at BMI, a unit of Fitch Solutions, revealed that their base case still assumes a preliminary agreement to reopen the Strait of Hormuz by the end of the third quarter.
The average U.S. diesel price hit a record high late on Thursday, exceeding the previous record from 2022, as the Middle East crisis tightened global fuel markets and sent prices soaring this summer.
Curious Minds Corner
What is the main use of hydraulic fracturing in oil and gas?
To improve flow of hydrocarbons from low-permeability formations.