Brent crude jumps amid Iran’s proposed restrictions on US and Israeli vessels in the Strait of Hormuz, though prices remain under $85 per barrel. Oil prices climbed sharply on renewed geopolitical tensions in the Strait of Hormuz, a critical chokepoint for global crude shi
India’s crude output declined for the third straight year, pressured by aging fields and lower yields, government data showed. India’s crude oil production fell 3% in the fiscal year ended March 31, 2026, marking a third consecutive annual decline. The drop reflects natura
Vessel transits through the Strait of Hormuz dropped to 33 this week from 50 last week amid stalled US-Iran negotiations. Vessel traffic through the Strait of Hormuz declined 34% week-over-week, with 33 ships transiting between Monday and Thursday compared to 50 in the sam
Zero Saudi crude imports to the US in July reflect geopolitical tensions and supply disruptions in the Persian Gulf. The US imported no crude oil from Saudi Arabia in July, the first full-month halt since 1985, according to preliminary government data. The drop follows hei
Brent oil prices to trade in a volatile range Brent oil is currently near $81 and West Texas Intermediate is at $76.30. The forecast for Brent is to trade between $70-$100. Geopolitical tensions and disruptions at the Strait of Hormuz are driving the price
July customs data shows China’s daily crude imports surged to 8.45 million barrels, rebounding from a decade-low June slump. China’s crude oil imports climbed 22% in July to 8.45 million barrels per day, totaling 35.73 million tons, reversing a sharp decline in June. The r
Oil prices rise as Iranian demands over the Strait of Hormuz delay a potential US-Iran deal, lifting ICE Brent above $82 per barrel. ICE Brent crude climbed above $82 per barrel, settling 3.8% higher in yesterday’s session, as US-Iran negotiations face renewed obstacles. I
Attacks on Saudi infrastructure and potential Iranian restrictions in the Strait of Hormuz heighten risks to global oil supply. Oil prices rose after Houthi forces struck Saudi Arabia’s Najran province, killing 11 civilians, amid escalating Middle East tensions. The attack
Oil prices rise 1.5% today amid Strait of Hormuz tensions but remain on track for a near 10% weekly decline. WTI crude oil prices climbed 1.5% today, recovering slightly from recent losses. However, the benchmark is still set for a nearly 10% weekly decline, marking back-t
Geopolitical tensions in the Middle East drive supply concerns, keeping West Texas Intermediate oil prices steady at $77.50 per barrel. West Texas Intermediate crude oil holds near $77.50 per barrel in Asian trading, reflecting investor caution over escalating Middle East
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