The U.S. has halted oil extraction from its Strategic Petroleum Reserve for the first time due to conflicts with Iran. Meanwhile, the Department of Energy sanctioned 4 million barrels of additional oil, and BP's Azeri Deepwater Reservoir project achieved 11.8 million tons. Oil markets are watching refinery operations, shipments, and SPR transactions following storm effects. Bacalhau celebrated its first year of production, while Petrobras signed to deals for Berbigão and Sururu joint projects.