Global Tensions Ease Oil Prices; CenterPoint Eyes Data Center Boom
WTI falls on renewed US-Iran talk hopes as Houston utility plans major power expansion for industrial load.
Oil prices fell Friday on renewed hopes for U.S.-Iran peace talks, according to Rigzone. West Texas Intermediate futures dropped 1.5% to settle above $94 a barrel. The decline followed news that the White House was sending envoys to Pakistan with the intention of talking with Iranian officials. Despite the drop, WTI futures were still up 13% for the week—the biggest jump since the war in the Middle East began in late February.
Traders are closely tracking signals for talks that could offer relief for the Strait of Hormuz, which remains largely shut and has blocked all major oil exports from the Persian Gulf except Iran's since the conflict started. Conflicting messaging persists, with Iran sounding a pessimistic tone on talks. U.S. Defense Secretary Pete Hegseth said Friday the naval blockade choking Iranian exports would continue "as long as it takes" unless Iran abandons nuclear weapons.
The U.S. blockade is having a visible impact. According to satellite imagery analyzed by Bloomberg and reported by Rigzone, Iran is loading millions of barrels onto supertankers at Kharg Island, with 13 ships anchored nearby as of Monday. The U.S. Navy has intercepted tankers and forced them back to Iranian ports. Analysts note this activity gives Iran time; consultancy FGE NexantECA said Iran could maintain production at about 3.5 million barrels a day for another two months using storage, even if exports halt entirely.
Goldman Sachs analysts said in an April 23 note that crude production in the Persian Gulf will take "a few months" to mostly restore, assuming a full reopening of Hormuz, with output curtailed by about 14.5 million barrels a day in April.
In a separate development, CenterPoint Energy Inc. announced plans to energize 8 gigawatts (GW) of generation projects for data centers by 2029, according to its quarterly report. The Houston-based utility said it has 12.2 GW of firmly committed industrial load in Greater Houston, with 3.5 GW of the data center capacity already under construction. CenterPoint expects peak demand in its Houston Electric territory to increase nearly 50% to over 30 GW by 2029 compared to 2024.
The company reported a GAAP net profit of $316 million, or $0.48 per diluted share, for the first quarter of 2026, up from $0.45 per share in Q1 2025. It also announced a $500-million increase to its 10-year investment plan, which now totals $65.5 billion.
Source
According to Rigzone reports from April 24 and April 26, 2026.
