Oil benchmarks surge over 1% after U.S. military action and Iranian missile launches heighten Middle East tensions. Brent crude futures climbed 1.09% to $97.05 a barrel in early Asian trade Wednesday, while WTI rose 1.19% to $94.88. The gains follow U.S. strikes on an oil
Oil climbs to one-week high after inventory draw Oil prices rose as inventory data showed a larger-than-expected draw. Brent settled at $96.00 and WTI at $93.76, one-week highs. The draw was driven by a decline in crude oil stocks, with expectations centered on a 3.
API data shows a larger-than-expected decline in crude inventories, though gasoline stocks rise unexpectedly for the week. US crude oil inventories fell by 6.75 million barrels in the week ending May 29, exceeding analysts' forecast of a 3.6 million barrel draw. The declin
India’s LNG purchases rise as supply disruptions cut regional volumes by 5.5 million-6 million tonnes monthly amid high costs. India’s liquefied natural gas imports are increasing despite soaring Asian gas prices, bucking a regional trend of reduced demand. Supply disrupti
Fuel price shocks affect electricity markets The Strait of Hormuz disruption is exposing vulnerabilities in electricity markets to fuel price shocks. Despite investments in renewable energy, crude oil prices still dominate headlines and impact the sector. T
Crude recovers from a low of $90.12 to $93.23, reclaiming key technical levels and shifting momentum to buyers. Crude oil prices reversed early losses, climbing to $93.23 after finding support near the 100-hour moving average at $90.10. The rebound followed a drop to $90.1
Beijing permits teapot refiners to cut run rates as high inventories and losses outweigh supply concerns amid Middle East tensions. China has eased a directive requiring independent refiners to maintain high fuel output despite financial losses. The move follows two months
Hyperliquid captured 80% of oil market moves before conventional exchanges opened, signaling a shift in trading dynamics. Perpetual futures platforms like Hyperliquid are increasingly leading price discovery in commodities and equities, capturing 80% of oil market movement
Most oil producers in the Middle East will see their crude oil production surge by double-digit percentages next year, rebounding from this year's shut-ins due to the Iran war and the closed Strait of Hormuz. OPEC's second-largest oil producer, Iraq, which was the first to
Declining inventories and strategic reserve drawdowns may sustain oil prices despite easing Middle East tensions, analysts say. Oil prices remain supported by a sustained drawdown in US crude inventories and Strategic Petroleum Reserves, even as geopolitical risks ease. An
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