Brent crude fell under $80 and WTI below $75 despite escalating regional tensions, as markets price in optimism over U.S.-Iran talks. Oil prices extended losses this week, with Brent crude dipping below $80 a barrel and WTI under $75, as traders dismissed geopolitical risk
Citi raises Brent crude forecast to $80 per barrel Citi has increased its third-quarter Brent crude forecast to $80 per barrel from $75 due to the ongoing U.S.-Iran war. The bank still expects the conflict to be resolved, but the prolonged war has kept more geopolitic
The bank revised its outlook higher due to stalled U.S.-Iran negotiations, though longer-term targets remain unchanged. Citi increased its Q3 2026 Brent crude price forecast to $80 a barrel from $75, citing prolonged U.S.-Iran negotiations as the primary factor. Analysts m
The total number of active drilling rigs for oil and gas in the United States stayed the same overall this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 588, up 49 from this same time last year. The number
Oil +3 to 454 Nat gas -3 to 124 The US hasn't been able to bring on much oil production since Trump came to office. The mantra of producer discipline is finally taking hold I'd also be vary wary of adding given how quickly oil has dropped every time there has been a
Fifteen attacks on Abu Dhabi National Oil Company ships since the conflict escalated threaten a key chokepoint for global crude supplies. Abu Dhabi National Oil Company reported 15 attacks on its vessels since the regional conflict began, including three this week. The str
Libya’s National Oil Corporation plans to increase production by 600,000 bpd within six years, backed by a $2 billion budget lifeline. Libya’s National Oil Corporation aims to raise oil production to 2 million barrels per day by the early 2030s, up from 1.4 million bpd cur
Commerzbank’s Carsten Fritsch sees continued volatility in Brent as Strait of Hormuz negotiations remain unresolved and inventories tighten. Fritsch expects energy agency reports to support prices near term but project a significant decline once an agreement emerges, cutti
The latest Saudi oil route looks absurd on a map. Crude moves west across Saudi Arabia to Yanbu, north through the Red Sea to Egypt, across the SUMED pipeline from Ain Sokhna to Sidi Kerir, then west through the Mediterranean before tankers sail around the Cape of Good Hop
ADNOC has bought 11 very large crude and gas carriers for $1.3 billion as the national oil company of Abu Dhabi continues to expand its fleet of supertankers to boost crude and LNG exports. ADNOC’s unit ADNOC Logistics & Services plc on Friday announced it had acquired fiv
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