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Published 2 days ago • loading... • Updated 2 days ago

Global chaos, local calm: What happens in the Permian after a price surge

Summary by YOURBASIN

MIDLAND, Texas (KMID/KPEJ)- When the world shakes, West Texas often stands still. In June, oil prices briefly surged as tensions escalated between Israel and Iran. The international energy market braced for disruption. But just as quickly, the moment passed. Prices retreated. The boom that some expected? It never came. And here in the Permian Basin, that didn’t surprise anyone. "People were hoping it would stay in the $70s," said longtime oil ex…

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Global chaos, local calm: What happens in the Permian after a price surge

MIDLAND, Texas (KMID/KPEJ)- When the world shakes, West Texas often stands still. In June, oil prices briefly surged as tensions escalated between Israel and Iran. The international energy market braced for disruption. But just as quickly, the moment passed. Prices retreated. The boom that some expected? It never came. And here in the Permian Basin, that didn’t surprise anyone. "People were hoping it would stay in the $70s," said longtime oil ex…

2 days ago

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YOURBASIN broke the news in 2 days ago on Thursday, July 3, 2025.

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