Over 136 million barrels of non-Iranian crude have transited the Strait despite Tehran’s closure threats, easing supply concerns. Oil markets initially braced for a historic supply shock after Iran declared the Strait of Hormuz closed, with forecasts of lost exports reachi
Quick Read - XLE has surged 31% year-to-date, nearly four times the S&P 500's return, with Exxon and Chevron alone comprising 41% of the concentrated fund. - Exxon beat earnings estimates by 15% and Chevron by 46% as the Strait of Hormuz closure drove Brent crude to $138 per...</
Quick Read - Energy Transfer (ET) yields ~7% with Q1 EBITDA up 20% year over year, while Enterprise Products Partners (EPD) has grown distributions for 27 consecutive years. - Fee-based midstream cash flows stay largely intact even as EIA forecasts Brent fading to $79 by 2027,...
Nigeria reached its OPEC+ quota for the first time in years, boosting production to a 15-month high last month. Nigeria’s crude oil production rose to 1.53 million barrels per day in May, marking a 15-month high. The increase reflects the country’s efforts to meet its OPEC
- US consumer sentiment rose in early June for the first time in four months as lower gasoline prices provided some relief for Americans grappling with a surge in inflation. Most Read from Bloomberg The University of Michigan’s preliminary sentiment index increased to 48.9
Oil prices recover slightly as traders await clarity on a potential US-Iran agreement, though technical indicators signal near-term downside risks. West Texas Intermediate (WTI) crude oil erased some losses, trading near $83.80 per barrel after hitting an intraday low of $
Rising energy import costs and Middle East tensions push India to exceed its budget deficit target for the first time since 2021. India is poised to miss its fiscal deficit target for the current financial year, widening it to 4.8% of GDP. The shortfall reflects soaring en
Oil prices fell over 4% on Iran peace deal optimism Oil prices plunged by more than 4% early on Friday as the market hopes for a peace deal between the U.S. and Iran. The international benchmark, Brent Crude, had slipped by 4.34% at $86.36, extending the losses fro
Oil prices breach key moving averages after Iran reveals terms of a potential US deal, easing sanctions and lifting naval blockades. West Texas Intermediate crude fell more than 4% to break below its 100-day moving average, marking its first drop beneath key daily averages
Bank cites rising non-OPEC output and China’s shift to electric vehicles as key drivers for lower oil prices next year. Goldman Sachs lowered its 2027 Brent crude price forecast to $80 per barrel, citing stronger supply from non-OPEC producers and weaker demand led by Chin
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