Auto Added by WPeMatico
Summary Brent, WTI hit lowest since February 27 Goldman Sachs says no significant pick-up in Iranian production expected Iraq to consider all options if OPEC quota not raised, sources say Iraq also weighed OPEC exit, sources say (Reuters) – Oil prices fell on Thursday to levels last seen before the start of the Iran war …
Oil Touches Pre-War Levels on Rising Middle East Supply Read More »
Venezuelan crude oil exports could rise to 2 million barrels per day by the end of U.S. President Donald Trump’s administration, roughly double current levels, Energy Secretary Chris Wright said on Wednesday at the Reuters Global Energy Forum in New York. (Reporting by Liz Hampton, writing by Richard Valdmanis)
(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 »
HOUSTON, June 24 (Reuters) – U.S. crude stocks at Cushing fell to a near 12-year low last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 6.1 million barrels to 412.1 million barrels in the week ended June 19, their lowest since January 2025, the EIA …
U.S. Crude Stocks at Cushing Hit Near 12-Year Low, Fuel Inventories Rise, EIA Read More »
(Reuters) – Physical crude oil cargoes are selling at discounts across the globe, changing trade flows as markets come under pressure from fast-rising Middle Eastern supply with Iran set to boost sales following a temporary reprieve from U.S. sanctions. The steep drop in prices follows the 60-day interim deal between the U.S. and Iran to …
Global Physical Crude Markets Mired in Discounts as Middle East Ramps Up Supply Read More »
(Reuters) – The latest bout of political turmoil in Britain comes as energy security has moved front and centre following the Iran war, offering the next prime minister a chance to rethink the country’s North Sea oil and gas strategy. Andy Burnham, who is poised to succeed Prime Minister Keir Starmer following his resignation earlier …
Political Turmoil Offers UK Chance to Correct North Sea Course: Bousso Read More »
(Reuters) – Three stranded tankers carrying 5 million barrels of crude oil were exiting the Strait of Hormuz on Wednesday, with two heading to Asia, shipping data showed, as the interim deal between Iran and the U.S. unlocks more supply stuck in the Gulf, bringing down global prices. South Korean-flagged VL Breeze, a Very …
More Stranded Oil Tankers Exit Hormuz, Adding to Global Supply 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 »
(Reuters) – An evacuation plan to enable hundreds of ships with some 11,000 seafarers stranded in the Gulf to sail through the Strait of Hormuz is underway after Iran and the U.S. reached a ceasefire deal, the United Nations’ shipping agency said on Tuesday. “We have now started contacting the ships to start the evacuation,” …
Evacuation Plan Through Hormuz for Stranded Ships in Gulf Underway, UN Agency Says Read More »
(Reuters) – U.S. refiner Phillips 66 CEO Mark Lashier said on Tuesday it would take time for crude supplies to clear through the Strait of Hormuz, as uncertainty remains around a return to normal shipping activity. Passage through the Strait of Hormuz is continuing on a limited basis, easing immediate supply concerns and pushing crude …
Phillips 66 CEO Says Hormuz Supply Disruptions May Linger Amid Shipping Uncertainty Read More »
