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By Shariq Khan Oil falls after rallying earlier in the week, analyst says sign of market exhaustion Iran tells Houthis to close Red Sea gateway if US hits power network, sources say US strikes Iranian coastal defenses, missile sites Fewer vessels have traveled through Hormuz strait after US resumed its blockade NEW YORK, July 16 …
Oil Settles Lower, But Remains Near One-Month High on U.S.-Iran Tension Read More »
(Reuters) – Renewed disruptions to Persian Gulf oil exports could keep upward pressure on prices in the near term, Goldman Sachs said in a note on Tuesday, adding that the next phase of recovery in flows remains uncertain and could be slower than the initial rebound even after geopolitical de-escalation. Goldman estimates that Gulf exports …
Goldman Sachs Says Gulf Oil Flow Recovery Uncertain Amid Renewed Attacks Read More »
By Erwin Seba Tanker traffic through Strait of Hormuz has slowed IEA says US-Iran escalation undermines oil surplus forecast Russia’s gasoline output covers 65% of demand after Ukrainian strikes, sources say HOUSTON, July 10 (Reuters) – Oil prices settled lower on Friday after the latest round of U.S.-Iran fighting as traders grew hopeful that shipping …
Oil Prices Settle Lower on Hopes for Smoother Shipping in Strait of Hormuz Read More »
(Reuters) – Saudi Arabia has set the August official selling price (OSP) for its flagship Arab Light crude to Asia at $1.50 a barrel below the Oman/Dubai average, an $11 cut from the previous month and the biggest drop in more than two decades, according to a Saudi Aramco pricing statement released on Monday. Reuters …
Saudi Arabia Cuts August Arab Light Asia OSP, Biggest Drop in Over Two Decades Read More »
By Amanda Stephenson and Robert Harvey Benchmarks touched pre-war lows on Thursday Saudi Aramco shifts to spot sales in Asia Brent spread contango signals fading shortage concerns CALGARY/LONDON, July 3 (Reuters) – Oil prices were little changed for the week as traders held on to hopes for a successful outcome from attempts to secure peace …
Oil Prices Little Changed as US-Iran Peace Efforts Hold Read More »
By Scott Disavino Two U.S. officials told Reuters Iran fired on the cargo ship near the Strait of Hormuz The UN maritime agency paused its Hormuz ship evacuation effort after the suspected attack Rystad says Gulf storage is 50%-60% full, risking output curbs if traffic lags NEW YORK, June 25 (Reuters) – Oil prices rose …
Oil Prices Climb 2% After Cargo Ship Hit by Projectile Near Oman Read More »
(Reuters) – Peace in the Gulf may ease pump prices, but not the Federal Reserve’s bigger problem: a U.S. economy that may already have been overheating before the Iran war. If oil retreats to pre-war levels, it could even spur demand at a critical juncture and worsen cost-of-living fears. That sounds like a “damned if …
Iran Peace Deal No Silver Bullet for Fed’s Inflation Dilemma: Mike Dolan Read More »
(Reuters) – J.P. Morgan on Wednesday lowered its second-half 2026 Brent crude oil price forecast due to lower-than-expected OECD commercial inventory draws and lower demand for oil. The bank sees Brent averaging $86 per barrel in the third quarter, $80 in the last quarter, and expects to exit 2026 at $78, according to a research …
JP Morgan Lowers Brent Crude Price Forecast for Second-Half 2026 Read More »
Summary CFOs cut expected US economic growth to 1.8% from 2.1% in quarterly Fed poll Firm-level optimism rose while hiring plans remained steady, the survey showed Firms saw little hit to demand during months of high oil prices PCE data on Thursday expected to show inflation jumped in May (Reuters) – The U.S.-backed war against …
US CFOs in Survey Say Firms Mostly Absorbed Oil Price Shock Read More »
By David Wethe The US Department of Interior is slashing the bonds oil and natural gas companies must provide when drilling on federal land by 95% in a move to encourage more energy exploration. The bond required in onshore federal drilling leases will be cut to $25,000 from the $500,000 imposed during the Joe Biden …
Trump Administration to Slash Oil-Drilling Bond Amount by 95% Read More »
