Iraq plans to triple within three months its exports of crude oil through Kurdistan to the Turkish Mediterranean port of Ceyhan as OPEC’s second-largest producer is one of the Middle East’s producers worst affected by the closed Strait of Hormuz. The Iraqi government has a
Oil prices climb 2.5% as Middle East risks escalate and US inventories decline sharply, tightening supply. West Texas Intermediate crude oil rallied toward $94.00, gaining 2.52% as geopolitical tensions in the Middle East intensified. Iran-related risks in the Gulf region
BNY’s Bob Savage notes that WTI and Brent prices are rising for a third day as United States (US)-Iran tensions escalate, with missile and drone attacks in the Gulf region pushing benchmarks toward and above USD 90. Savage warns that sustained WTI above USD 90 reshapes rat
Quick Read - Kosmos (KOS) ranks first as a takeover target with $3B in debt driving urgency; Magnolia (MGY) ranks last despite premium Eagle Ford acreage. - CEO Andrew Inglis doubled Kosmos's 2026 net-debt reduction target to 20%, flagging an Equatorial Guinea asset sale as the...</strong
Analysts reduce India’s 2024 fuel demand growth estimates by up to 90% due to supply constraints and higher prices. India’s oil demand growth for 2024 is set to slow to its weakest pace since the Covid pandemic, as supply shortages and elevated fuel prices curb gasoline an
Tokyo allocates $19.4 billion to subsidize fuel prices and shield households from Middle East supply disruptions. Japan will deploy $19.4 billion to mitigate rising energy costs driven by Middle East supply disruptions. The package includes a $16 billion reserve fund aimed
Brent crude rises 5% on week to $97.25 Brent crude is trading at $97.25, about 5% up on the week, as fresh hostilities between the US and Iran cast doubt on a fragile ceasefire. The US military announced self-defence strikes on Iranian Qeshm island, following reports
OCBC maintains a gradual easing outlook for oil prices into late 2026 despite near-term support from geopolitical tensions. Brent crude fell below $100 per barrel on ceasefire optimism but remains underpinned by elevated geopolitical risks and vulnerability in the Hormuz S
David Solomon warns tightening crude supply could drive inflation higher and alter spending patterns in H2 2024. Goldman Sachs CEO David Solomon warned that tightening crude oil supply will likely push inflation higher in the second half of the year, prompting shifts in co
Geopolitical risks in the Middle East drive West Texas Intermediate to $92.90 amid stalled US-Iran peace talks. West Texas Intermediate crude oil climbed to $92.90 in early European trading on Wednesday, extending gains as tensions between Iran and the US escalated. The ri
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