TD Securities’ Senior Commodity Strategist Ryan McKay argues the recent easing in the Oil market is temporary, warning that Brent could still reach $150/bbl or higher if supply risks materialize. He highlights constrained speculative flows, Chinese storage draws, tightenin
Oil prices recovered losses after US-China leaders discussed economic cooperation and Strait of Hormuz security, reducing supply risks. West Texas Intermediate crude oil erased earlier losses to trade at $97.30, up 0.34%, following volatile sessions tied to US-China diplom
India requests a further US waiver on Russian oil sales already in transit, as imports reach new highs ahead of the May 16 deadline. India has formally asked the United States to extend its waiver on Russian oil sales already loaded onto tankers, set to expire on May 16. T
Technical analysis suggests crude oil is approaching the final wave of a corrective triangle structure after March's spike to $119. Crude oil prices have traded within a broad corrective pattern since peaking at $119 in early March. The market completed an impulsive declin
A tanker carrying 1.9 million barrels of crude passed the Strait of Hormuz, marking only the second such transit to Japan since late February. A tanker owned by Eneos has successfully navigated the Strait of Hormuz, carrying 1.2 million barrels of Kuwaiti crude and 700,000
Tokyo explores additional fiscal spending to mitigate rising energy costs for households amid elevated oil prices. The Japanese government is weighing a supplementary budget for fiscal year 2026 to alleviate pressure from higher oil prices on households. The move aims to c
The tanker’s transit marks the third Chinese supertanker passage through the strait amid heightened regional tensions and oil trade shifts. A Chinese very large crude carrier (VLCC) carrying nearly 2 million barrels of Iraqi Basrah Medium crude exited the Strait of Hormuz
Oil prices retreat ahead of high-stakes US-China talks amid tariff reduction talks and geopolitical tensions in the Middle East. West Texas Intermediate crude fell to $96.80 per barrel in Asian trading, extending a two-day decline as investors awaited a critical meeting be
Legislation lifts seasonal restrictions on higher-ethanol fuel, boosting demand for corn and ethanol producers after repeated prior failures. The US House of Representatives passed a bill allowing year-round sales of E15 gasoline, which contains 15% ethanol, across the cou
OPEC lowers 2026 oil demand growth expectations Crude oil futures fell after OPEC lowered its oil demand growth expectations for this year. The near-shutdown of the Strait of Hormuz forced Middle East producers to cut output. OPEC forecast global oil demand
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