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(Reuters) – The extreme volatility of global oil prices has drained liquidity from the market this year at the fastest pace on record, as investors have become increasingly wary of committing cash to an asset that has become hostage to U.S. President Donald Trump’s daily social media posts on the Iran war. Liquidity, or how …
Tired of Chaos, Investors Retreat From Oil Market at Record Pace Read More »
(Reuters) – Since the start of the Iran war and Tehran’s announcement that the Strait of Hormuz was “closed”, the market has grappled to put a figure on lost crude supply and to predict the price of oil. Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 …
Lost Gulf Oil Exports Far Smaller Than Thought, Traders and Shippers Say Read More »
(Reuters) – Chevron is continuing to look at new opportunities in the Middle East and may have more exposure to the region in the future, Chief Executive Officer Mike Wirth said on Friday. Terms of investing in the region are better than they’ve historically been, Wirth said, adding that the Middle East currently accounts for …
Chevron Continues to Look at New Opportunities in Middle East, CEO Says Read More »
(Reuters) – Roughly 7 million barrels of oil are getting out of the Persian Gulf each day with U.S. military help, U.S. Energy Secretary Chris Wright said on Friday at an event in Houston. No Iranian crude is getting out of the Strait of Hormuz, Wright said, adding that he expected to see the free …
US Military Helps Move 7 Million Barrels of Oil Per Day Out of Persian Gulf, Wright Says Read More »
Summary Upside risks remain, seasonal demand could lift prices, analysts say OPEC lowers 2026 oil demand growth forecast to 970,000 bpd, raises 2027 demand growth LONDON, June 12 (Reuters) – Oil prices fell over 3% on Friday to their lowest in nearly two months after U.S. President Donald Trump cancelled new strikes on Iran, reducing fears of …
Oil Falls to Near Two-Month Lows as Trump Calls Off Threatened Strikes on Iran Read More »
By Amanda Stephenson and Arathy Somasekhar Wet weather and Cenovus outage disrupt Western Canada oil supply Cushing inventories near operational lows as U.S. crude stocks fall Western Canadian crude inventories at lowest since 2020 CALGARY, June 11 (Reuters) – Wet weather and a power outage at a major oil sands producer have contributed to crude …
Canada Oil Outages and Bad Weather to Tighten Inventories at Key US Storage Hub Read More »
(Reuters) – U.S. President Donald Trump on Thursday said the United States would hit Iran “very hard tonight” and that he wanted to eventually seize Kharg Island, the export heart of one of the world’s largest oil producers. Following are key facts on Iran’s energy industry: KHARG ISLAND The third-largest producer in the Organization of …
(Reuters) – President Donald Trump said on Thursday he wants to take over Kharg Island, Iran’s oil infrastructure hub. Analysts say the U.S. military could seize the island quickly, but the move could leave U.S. troops in great peril and prolong rather than shorten the war. WHERE IS KHARG ISLAND AND WHY IS IT IMPORTANT? …
Taking Kharg Island Would Pose Risks for US Troops Read More »
(Reuters) – U.S. President Donald Trump said on Thursday he would like to take over Iran’s oil infrastructure hub Kharg Island but he was not sure Americans have the appetite for a major escalation in the war. “We are talking to them and all, but you know, look, my preference has always been – take …
Trump Tells Fox News He’d Like to Take Iran’s Kharg Island Read More »
(Reuters) – Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market. The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas …
Hormuz Reopening Could be OPEC’s Undoing: Bousso Read More »
