
Oil prices at this threshold
Following the United States' threat to impose an unspecified maritime blockade on Iran.
Oil, gas, petrochemicals, Sonatrach, and energy sector developments

Following the United States' threat to impose an unspecified maritime blockade on Iran.

Oil prices recorded a slight increase today, Friday. Brent crude futures rose by nine cents, or 0.1 percent, to reach $87.16 per barrel, while West Texas Intermediate crude futures increased by four cents to $81.29 per barrel. Both contracts fell by more than 2 percent in the previous session, giving up part of the gains they had made after six consecutive sessions of increases for Brent and five sessions for West Texas Intermediate, but they are still on track for weekly gains of about four percent.

The signing of contracts by SONATRACH for engineering, supply, and execution marks a new phase in the realization of the integrated phosphate project, which is a strategic facility that serves as a pillar.

Algerian Prime Minister Saifi Gharib, alongside his Nigerien counterpart Ali Mohamed Lamine Zain, today oversaw the official launch of drilling works for the exploratory well 'Kafra Southeast 1', in a step described as 'a new cornerstone in the strategic partnership between Algeria and Niger, and a preliminary phase for the development and exploitation of the oil potential of the Kafra field.' Saifi Gharib confirmed in a speech delivered on the occasion that his visit to Niger was commissioned by President Abdelmadjid Tebboune, noting that his presence once again in Niger reflects the depth of the relations between the two countries, and conveyed President Tebboune's greetings to the leadership, government, and people of Niger, wishing the country more security, stability, and progress.

Algeria continues to record positive indicators in the oil market, driven by a gradual increase in production levels, alongside the continued performance of Saharan Blend crude.

The Integrated Phosphate Project represents a promising initiative and a pillar with assured added value. This strategic facility forms a cornerstone for the forward-looking vision of the President of the Republic, Mr. Abdelmadjid Tebboune. The signing by SONATRACH on Wednesday of two contracts for engineering, supply, and execution marks a new phase in the realization of the Integrated Phosphate Project.

According to the monthly report from OPEC.

The Prime Minister confirms that the project is the result of a multifaceted partnership.

Oil prices fell by more than a dollar on Thursday, after analysts lowered their forecasts for global oil demand in 2026. Brent crude futures dropped by $1.29 or 1.5% to $87.69, and West Texas Intermediate crude fell by $1.30 or 1.6% to $81.97.

The integrated phosphate project is now entering a new phase, moving towards its effective realization. Two strategic contracts, under the engineering, procurement, and construction (EPC) formula, have been signed between the SONATRACH group and the Algerian Fertilizer company, on one hand, and the Italian company Saipem and the Chinese port engineering company CHEC, on the other hand.

Algeria confirms month after month its growing weight in the Spanish gas market. In July, Algerian exports accounted for nearly 42% of Spain's gas supplies, allowing Algiers to maintain a comfortable lead over the United States and other market suppliers.

Yesterday, Wednesday, August 12, 2026, could have been a normal day. But no! Instead of worrying about evening outing destinations during a summer that turns out to be one of the hottest, the world of Energy faced a problematic situation.