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Crude oil
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Goldman Sachs raises oil price forecast, citing Strait of Hormuz hostilities, crude prices could reach $120/barrel.
Goldman Sachs analysts have shifted their oil price outlook from a downgrade to an upgrade within three months. The previous downgrade was due to a memorandum of understanding between the US and Iran,
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US equity futures and Treasuries weaken, Brent crude approaches $100.
U.S. equity futures and Treasuries weakened in early European trading, weighed down by rising oil prices impacting market sentiment. Brent crude prices approached the $100 mark, following the Japanese
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Houthi attacks on multiple Saudi energy facilities disrupt operations, Brent crude rises 1.65% intraday, nearing $100 mark.
Yemen's Houthi rebels launched attacks on September 8 against multiple cities in southern Saudi Arabia, including Abha, Khamis Mushait, Najran, and Jizan. These attacks resulted in fires at several en
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China's integrated circuit exports surged by 129.83% year-on-year in August, while crude oil imports increased by 6.2% month-on-month.
China's integrated circuit exports surged by 129.83% year-on-year in August, while crude oil imports increased by 6.2% month-on-month.
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Escalation of the US-Iran conflict has disrupted traffic in the Strait of Hormuz, sending oil prices soaring to a six-week high, with Brent crude futures rising to $97/barrel on Monday.
According to Al Jazeera, escalating attacks between the US and Iran in the Strait of Hormuz have disrupted traffic in the critical waterway. Global benchmark Brent crude futures rose to around $97 per
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OPEC+ maintains October production quotas, shifts strategic focus to 2027 capacity cap allocation
OPEC+ decided on September 6 to maintain October production quotas, in line with market expectations, marking the completion of the gradual exit from the voluntary production cut agreement initiated i
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Oil prices rose to a six-week high on Monday after exchanges of fire between the US and Iran and an attack on Saudi Aramco facilities.
Brent crude futures rose 1.3% to $97.52 a barrel on Monday, after touching $97.93 a barrel earlier in the session, their highest since July 23. U.S. WTI crude futures rose 1.3% to $92.68 a barrel, bri
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Iraq struggles to find crude buyers in the Persian Gulf this month due to significant price hikes.
Iraq's State Organization for Marketing of Oil (SOMO) last week cut crude discounts, leading to higher prices. This follows Iraq's strategy several months ago to lower prices in response to high shipp
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Saudi Aramco's Jizan facility hit by new round of attacks.
Saudi Aramco's Jizan facility, located near the Saudi-Yemen border, has been hit by a new round of attacks, according to the Financial Times. Houthi rebels have previously targeted Jizan multiple time
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China's Oil Demand Revival Spurs Price Spikes for African, Canadian and Latin American Crudes
A rebound in Chinese oil buying is driving up prices for African, Canadian and Latin American crudes, as disruptions in the Strait of Hormuz lead refiners to seek alternatives farther afield.
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Vanda Insights Founder Hari Says Oil Prices to Keep Grinding Higher Amid US-Iran Escalation Around Strait of Hormuz
Hari noted that crude futures are not fully reflecting the physical market tightness, pointing to diesel prices near $200 a barrel in Atlantic markets and warning of further scarcity in the coming wee
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Brent crude rose 0.4% and WTI rose 0.6% to $92 a barrel as mutual attacks on oil tankers by the US and Iran pushed oil prices higher.
Brent crude rose 0.4% and West Texas Intermediate (WTI) crude climbed 0.6% to $92 a barrel on Monday after the Iranian Islamic Revolutionary Guard Corps Navy claimed responsibility for attacking sever
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Chevron to invest over $7 billion in Venezuela, aiming to double oil output to 600,000 bpd over five years
Chevron has signed a landmark deal to significantly expand its operations in Venezuela, with CEO Mike Wirth stating that the company's patience in the region has paid off. The agreement will see Chevr
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Data shows that crude oil exports through the Strait of Hormuz in August decreased by 39% year-on-year, and Iran's exports may fall to zero.
Middle Eastern crude oil exports in August were down 39% from the January-February baseline of 18.5 million barrels per day (bpd), with a current deficit of 7.2 million bpd, according to data released
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US Treasury Secretary Scott Bessent says Iran has about 30 million barrels of crude left for potential Chinese buyers
The Trump administration is intensifying economic pressure on Iran through sanctions and a blockade. Bloomberg News Middle East Reporter Dan Williams notes this strategy also amounts to a test of endu
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U.S. Central Command: U.S. Forces Attacked Three Iranian Crude Oil Tankers
U.S. Central Command: U.S. Forces Attacked Three Iranian Crude Oil Tankers
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Donald Trump calls the blockade on Iran "unbelievable" as Brent crude surpasses $90 and US strategic petroleum reserves fall to their lowest since 1982.
Former U.S. President Donald Trump stated in an August 30 interview with Fox News that his administration's blockade on Iran was "incredible" and placed "very severe" economic pressure on Iran. Meanwh
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Strong demand from Asian refiners is driving up Middle Eastern crude oil prices, with DME Oman crude approaching $100.
Asian refiners' robust demand for Middle Eastern crude is driving a rapid surge in benchmark prices, Bloomberg reported on September 5. The UAE's benchmark Murban futures are currently trading at $106
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US CFTC Nasdaq 100 Speculative Net Positions 26k, prior 10k
CFTC Nasdaq 100 Speculative Net Positions: 26,000, Previous 10,000 CFTC Gold Speculative Net Positions: 228,000, Previous 243,000 CFTC Crude Oil Speculative Net Positions: 130,000, Previous 123,000 CF
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Iraq Seeks Oil Tankers for Hormuz Strait Transits
Iraq is in the process of trying to hire multiple tankers to transit the Strait of Hormuz, as Baghdad steps up efforts to get its crude to global markets.
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Bass Oil confirms new oil pay at Bunian 6 in Indonesia, expects production to triple to 750 bopd
The company identified oil pay in three separate reservoirs, including the M sand, where oil pay was encountered for the first time in the Bunian field. Bass Oil expects the new well to increase field
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Japan's Mitsui O.S.K. Lines Warns: Shipping in Strait of Hormuz Unlikely to Recover This Year, No Immediate Plans to Return
Jotaro Tamura, CEO of Mitsui OSK Lines, one of the world's largest tanker operators, said on Thursday that given the renewed escalation of tensions between the US and Iran, it is difficult to foresee
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Goldman Sachs: Oil Exports Through Strait of Hormuz Recover to Two-Thirds of Pre-War Levels, But 5 Million Barrels Per Day Are "Dark Fleet" Flows
Goldman Sachs strategists Yulia Zhestkova Grigsby and her team informed clients on Wednesday that Gulf oil exports have rebounded to 15-16 million barrels per day, roughly two-thirds of pre-war levels
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Tesla will hold its Cybercab robotaxi unveiling after the market closes on Thursday.
Tesla will hold its Cybercab robotaxi unveiling event after the market closes on Thursday. Additionally, Dow Jones futures edged higher in early Thursday trading, and oil prices continued to climb; Sn
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China's A-shares: Shenzhen Component Index rose 0.26% in early trading, with the semiconductor industry chain experiencing a surge. Hong Kong stocks: Hang Seng Tech Index rose 0.72%. Crude oil surged over 6%.
On September 15, China's A-share market rebounded after a volatile morning session, with the Shenzhen Component Index rising 0.26%, the Shanghai Composite Index falling 0.07%, and the ChiNext Index ga
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China's crude oil output grew steadily by 0.8% in August, while crude oil processing saw a narrowing decline.
China's National Bureau of Statistics reported that in August, crude oil output for industrial enterprises above designated size was 18.43 million tons, a year-on-year increase of 0.8%, maintaining th
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Oil market sends warning on gas prices as Iran conflict threatens global supplies, driving up immediate crude costs
Oil market sends warning on gas prices as Iran conflict threatens global supplies, driving up immediate crude costs
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Oil Tanker Daily Hire Rate Tops $1 Million for First Time Amid Iran War and Hormuz Strait Ship Shortage
The cost of hiring an oil tanker on the industry’s benchmark trade route reached $1.035 million a day on Monday, according to data from the Baltic Exchange in London. This marks the first time the dai
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Brent crude rises above $100 as Iran war disrupts Hormuz shipping and Houthi capture of Mayun Island raises Bab al-Mandeb concerns
Al Jazeera reports that Brent crude has risen above $100 a barrel due to the war in Iran disrupting shipping through the Strait of Hormuz. Additionally, the Houthis' capture of Mayun Island is raising
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Houthi rebels launched a large-scale attack on a Saudi airbase and oil pipelines, causing international oil prices to surge over 4%, with Brent crude trading at $109.18 per barrel.
Yemen's Houthi rebels launched dozens of ballistic missiles and drones at Saudi Arabia's King Khalid Air Base in Khamis Mushait, southwestern Saudi Arabia, on September 14, and attacked a pumping stat
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Prediction market traders expect U.S. gas prices to hit new highs for the year, with a 71% chance of surpassing $4.60/gallon
Traders on Kalshi also place 57% odds that prices will top $4.80 a gallon, and just over a 40% chance that they cross $5.00. This comes as U.S. oil prices are again above $100 per barrel, driven by es
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S&P 500 falls as Brent crude jumps over 3% to $106 on Middle East hostilities, AI stocks decline
Markets started the week defensively, with escalating Middle East hostilities and hawkish central bank expectations weighing on risk appetite. Brent crude surged over 3% towards $106, having gained ne
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Costco rations Kirkland Signature motor oil and raises price to $57.99, citing global lubricant shortage and rising crude oil prices
The retailer has limited purchases to two units per customer per week for its Kirkland Signature full-synthetic motor oil, which jumped from approximately $30 to $57.99 per 10-quart case. This move co
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U.S. Energy Secretary Wright: Expects Saudi East-West oil pipeline to be operational "soon"
U.S. Energy Secretary Chris Wright stated on Bloomberg Surveillance that the East-West oil pipeline in Saudi Arabia, which runs to the Red Sea, is expected to be operational "soon." He also discussed
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U.S. crude oil futures extended gains, hitting an intraday high of $104.95 per barrel, the highest level since mid-May.
U.S. crude oil futures extended gains, hitting an intraday high of $104.95 per barrel, the highest level since mid-May.
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QatarEnergy launches tender to sell crude for Oct-Nov loading from ports inside Strait of Hormuz, with 500,000-barrel cargoes
QatarEnergy has launched a tender to sell Al-Shaheen, Qatar Marine, and Qatar Land crude for October and November loading from Qatari ports located inside the Strait of Hormuz. The offer includes 500,
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GasBuddy Analyst: Americans have spent an additional $109.2 billion on gasoline and diesel since March, with the daily increase currently around $730 million.
According to Patrick De Haan, head of petroleum analysis at GasBuddy, U.S. consumers and truckers have spent an estimated $109.2 billion more on gasoline and diesel since March 1 compared to the same
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Asian equities were under pressure on Monday as slowing AI development and soaring oil prices rekindled inflation concerns, with SK Hynix falling over 5% and SoftBank plummeting 11%.
Asian equities broadly opened lower on Monday, impacted by AI giants' calls to slow the pace of frontier model development and renewed inflation concerns fueled by soaring oil prices. South Korea's KO
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U.S. equity index futures are down, and crude oil prices are up, as investors weigh AI warnings.
U.S. equity index futures are down, and crude oil prices are up, as investors weigh AI warnings.
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Iran-Gulf States' Planned Sept 14 Hormuz Talks Postponed, Omani FM Says
Omani Foreign Minister Badr Albusaidi announced on Sunday that a planned September 14 meeting in Oman between Iran and Gulf states, aimed at discussing possible Strait of Hormuz arrangements, has been
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Iranian MP Mohseni-Sani Declares Tehran No Longer Bound by Nuclear Treaty, Driving Brent Crude to $110
Mohammadreza Mohseni-Sani, a member of Iran's parliament's National Security and Foreign Policy Committee, stated on September 12 that Tehran no longer considers the Nuclear Non-Proliferation Treaty (
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Energy Aspects warns of oil prices heading for an "upward spiral," as Chinese regulators raise crude oil futures' daily price limits and adjust refined oil prices.
The global crude oil market is at a "turning point," with energy analysis firm Energy Aspects warning that oil prices are heading for an "upward spiral" due to accelerated global inventory drawdowns,
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US stocks rebound on Friday, S&P 500 up 0.9% and Nasdaq 1%, as Brent crude falls 2.8% to $104.61
US stocks rebounded on Friday, regaining much of their weekly losses, as Brent crude oil prices eased 2.8% to settle at US$104.61 per barrel after nearing US$110 overnight. The S&P 500 climbed 0.9%, s
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Crude oil prices climbed back above $100 a barrel this week, with US diesel surging past $6 a gallon for the first time.
Crude oil prices climbed back above $100 a barrel this week, with US diesel surging past $6 a gallon for the first time.
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Brent crude futures fell 3.58% to $103.78 per barrel on Friday, while WTI crude dropped 2.17% to $99.23 per barrel, after both recorded their first double-digit weekly gains in months, breaking above $100.
Brent and WTI crude futures ended their respective five- and eight-day winning streaks. This followed a surge in oil prices driven by geopolitical factors such as escalating conflict in the Middle Eas
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Global bond sell-off intensifies, with Germany's 10-year government bond yield breaking above 3.5% on Friday, reaching its highest level since April 2011. Oil prices remain above $100, fueling stagflation concerns.
Global bond sell-off intensifies, with Germany's 10-year government bond yield breaking above 3.5% on Friday, reaching its highest level since April 2011. Oil prices remain above $100, fueling stagfla
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Middle East Tensions Show Signs of Easing: Iran and GCC to Meet on September 14 to Discuss Strait of Hormuz Agreement, Houthis Announce Ceasefire on Red Sea West Coast
Iran's Foreign Minister and the foreign ministers of the six Gulf Cooperation Council (GCC) countries are scheduled to meet on September 14 (next Monday) in Salalah, Oman, to seek support for an inter
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Multiple negative factors have triggered a "stock and bond sell-off" in the US financial market: soaring oil prices, US Treasury Secretary's buyback falling short of expectations, and Donald Trump's trillion-dollar "money-printing" promise have collectively led to a sharp rise across the board in US Treasury yields, with the 30-year yield hitting a 19-year high of 5.37%, while the stock market simultaneously declined.
On Thursday, the U.S. financial markets experienced a rare shock as multiple negative factors converged, leading to a sharp rise across the board in Treasury yields. The 30-year Treasury yield jumped
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