Mizuho raises 2026 and 2027 oil price outlooks by up to 25%, citing prolonged Iran crisis impact and refining margin strength. Mizuho increased its price target for Exxon Mobil (XOM) to $175 from $159 while maintaining a Neutral rating. The adjustment follows revised oil p
Two supertankers and an LNG carrier have passed through the Strait of Hormuz this week and are currently en route to their destinations in China and India, Reuters reported today, citing data from Kpler and LSEG. One of the tankers is loaded with 2 million barrels of Saudi
Equities retreat 0.5-1% in early trading as geopolitical risks and profit-taking weigh on momentum stocks after a 30% monthly gain. Global equities are poised to open 0.5-1% lower as oil prices and bond yields climb following renewed US-Iran tensions. Futures point to decl
MUFG’s Lloyd Chan reports that Brent has fallen below earlier May lows, with prices dropping to around $94 per barrel. He attributes the move to growing optimism over a potential US‑Iran deal, though he stresses that uncertainty over an imminent breakthrough remains <p
Oil prices rise after US strikes on Iran Oil prices have increased due to fresh US strikes on Iranian military targets. The jump in oil prices comes after a decline of over 7% earlier in the week. WTI is trading at $90.51, up 2.06%, while Brent crude has cl
Oil prices climb as geopolitical risks escalate following US airstrikes in Iran, lifting WTI above $89.00. West Texas Intermediate crude futures advanced to $89.35 in early Asian trading Thursday, recovering from earlier losses. The move follows fresh US military strikes i
Asia and Europe face operational minimum inventories, raising risks of a prolonged energy shortage, industry advisors warn. Global oil inventories are declining rapidly, with Asia approaching minimum operational levels and Europe following closely. The trend heightens conc
The decline follows a larger draw of 9.1M barrels the prior week, signaling potential shifts in crude demand or supply. U.S. crude oil stockpiles fell by 2.8 million barrels for the week ending May 22, marking a second consecutive weekly decline. The drawdown suggests tigh
Crude oil inventories fell by 2.8 million barrels The US crude oil inventories decreased by 2.8 million barrels in the week ending May 22. This decline follows a 9.1 million barrel drop in the prior week. US crude inventories have risen by 22 million barrel
Spot gold tests $4,370 support as geopolitical tensions and Federal Reserve policy weigh on investor sentiment. Gold prices fell to $4,433, nearing the $4,370 support level, as concerns over Iran and hawkish Fed signals pressured markets. Traders are eyeing a potential dro
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