Venezuela’s oil exports inched up from April to hit a fresh seven-year high in May as shipments to the United States and India continued to rise. Venezuela exported an estimated 1.25 million barrels per day (bpd) of oil in May, up by 0.7% compared to April’s 1.23 million b
Rabobank’s Senior Macro Strategist Bas van Geffen highlights that Brent futures near the mid-$90s per barrel, down from a recent peak of $108, still reflect only a relatively optimistic scenario for the Iran conflict. A prolonged disruption in the Strait of Hormuz could ke
INEOS Energy is expanding its global LNG business into Asia after signing a long-term supply agreement with Japan's Marubeni Corporation for deliveries beginning in 2029. Under the deal, INEOS will supply LNG on a Delivered Ex-Ship (DES) basis, meaning the company will be
Rebound in liquefied natural gas shipments signals preparation for peak cooling season amid prior supply constraints and price pressures. China imported 4.9 million tons of liquefied natural gas in May, marking a year-over-year increase as demand ramps up ahead of the summ
A potential US-Iran agreement could reopen the Strait of Hormuz, easing oil prices to $86 per barrel in late 2026. Brent crude could retreat to $86 per barrel in Q4 2026 if a US-Iran deal reopens the Strait of Hormuz, according to a baseline scenario. The outlook assumes s
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.35 during the early European trading hours on Tuesday. WTI price declines as traders have treated any progress toward ending the Iran conflict with caution, given the fragility of a US–Iran ce
Tighter fuel supply boosts refining margins Goldman Sachs forecasts significantly higher refining margins throughout 2026 due to tighter petroleum product supply. The war in the Middle East has pushed refiners’ margins two to three times higher than the average for th
Crude oil futures turned mildly bearish after sellers blocked a rally near $94.20, pressuring prices toward a key support zone at $91.37-$91.78. Crude oil futures reversed course after buyers failed to sustain gains above the $94.20 resistance level, signaling a mildly bea
Oil prices retreat slightly despite heightened Middle East tensions after Iran halts talks and threatens key shipping routes. West Texas Intermediate crude oil trades near $90.60 per barrel, paring earlier gains after a 4.71% surge on Monday. The pullback occurs despite es
Oil traffic may not recover to pre-war levels The war in the region is affecting oil and gas traffic via the Strait of Hormuz. Traffic has partially recovered but remains below pre-February 28 levels. Big Oil warns of a looming supply shortage set to hit gl
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