Brent reaches $111 on supply concerns Oil prices climbed in early Asian trade on Monday due to drone attacks on the UAE and Saudi Arabia. The lack of a breakthrough on an Iran agreement added to upward pressure for oil prices. WTI front-month futures were t
Geopolitical risks in the Middle East drive oil prices higher as US and Israel prepare potential military action against Iran. West Texas Intermediate crude oil rises for a third straight session, trading near $102.30, up 1.35% on the day. Escalating tensions between the U
Brent crude rises above $90 per barrel while Treasury yields climb amid prolonged U.S.-Iran standoff over Hormuz shipping lanes. Global markets faced pressure Monday as Brent crude prices surged past $90 per barrel and 10-year Treasury yields climbed to 4.3%, driven by sta
Analysts warn prolonged disruptions in the Strait of Hormuz could trigger a severe crude shortage, reshaping energy market expectations. A near-total blockade of the Strait of Hormuz is raising alarms over a potential global oil shortage, as analysts abandon hopes for a sw
US oil inventories fall to 102 million barrels US oil inventories are rapidly approaching minimum tank levels, with stocks falling to around 102 million barrels. The decline in inventories is attributed to high oil prices, which are fueling consolidation in the sha
Strategist Jeff Currie warns inventories at 102 million barrels risk depletion before peak driving season demand. US oil inventories have fallen to approximately 102 million barrels, nearing minimum operational levels as demand outpaces supply. The decline from 120 million
US crude exports to Australia surge as Middle East supply risks tighten global energy markets and lift prices to multi-year highs. West Texas Intermediate crude surged to $114.58 on April 7, 2026, as disruptions in the Strait of Hormuz upended global oil trade routes. The
Venezuela sets flexible tax rates for oil projects The Venezuelan government will set royalty and tax rates for private and foreign investors in oil and gas projects on a project-by-project basis. The law establishes a royalty cap of 30% and a new maximum integrated h
Global oil companies target Argentina’s Vaca Muerta basin amid Middle East supply risks and rising demand for non-conflict zone resources. Energy companies are accelerating exploration in Argentina’s Vaca Muerta shale basin as geopolitical tensions disrupt Middle East supp
Occidental Petroleum underperforms despite Brent crude surging 80% to $110 amid Middle East tensions and tight supply. Occidental Petroleum shares have risen only 30% over the past year, trailing Brent crude’s 80% gain to nearly $110 per barrel. The divergence reflects mar
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