Crude stabilizes near a key trendline after dropping on optimism over potential progress in Iran conflict negotiations. Crude oil prices fell sharply today amid speculation that diplomatic efforts could ease tensions in Iran, pushing the market to a low of $90.32. Buyers e
Iraq’s crude production hit a two-decade low last month, down nearly 66% from its recent three-month average. Iraq’s average crude oil production fell to 1.389 million barrels per day in April, the lowest level since the early 2000s. The drop follows a pre-war average of 4
Quick Read - S&P 500 futures surged above 7,500 for the first time following reports of a potential U.S.-Iran framework agreement to reopen the Strait of Hormuz after weeks of disruption that sent Brent crude above $100/barrel and triggered stagflation concerns across... e
Oil prices slide nearly 6% as easing Middle East tensions reduce fears of supply disruptions and inflation pressures. Brent crude futures fell 5.9% to $97.44 per barrel in early trading Monday, breaking below $100 for the first time in nearly three weeks. West Texas Interm
A leading energy consultant forecasts a potential oil price surge next month due to prolonged Strait of Hormuz disruptions. Oil markets may face a sharp price spike in July if the Strait of Hormuz remains closed for four months, according to a top energy analyst. Such a sc
China’s largest refiner boosts shale oil production amid efforts to enhance energy security and reduce crude import reliance. Sinopec’s Jiyang shale oil base in Shandong province has produced over 2 million tons of oil, marking a significant increase in domestic output. Th
Beijing's growing control over lithium supply chains raises concerns over EV and battery market geopolitical risks. China's expanding dominance in lithium markets is reshaping global supply chains, increasing its influence over electric vehicle and battery production. The
The U.S. will deal with Iran “another way” if it does not reach a good deal with the Islamic Republic, U.S. Secretary of State Marco Rubio said on Monday, playing down hopes that an agreement is imminent Following signals from Washington during the weekend that the
State-owned refiners raise diesel and gasoline prices for the fourth time in May, lifting costs amid disrupted oil flows. India’s state-run fuel retailers increased pump prices for the fourth time this month, pushing diesel up 8.6% and gasoline 7.8% since May 1. The hikes
West Texas Intermediate (WTI), futures on NYMEX, are down 6% to near $90 in the European trading session on Monday, the lowest level seen in over two weeks. The oil price clings to opening losses amid hopes that energy supply disruptions due to the prolonged closure of the
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