UBS Chief Economist Paul Donovan expects May United States (US) headline consumer price inflation to rise as higher Oil-related costs are passed through to consumers. He notes firms can protect profit margins by raising prices while demand holds, with US consumers drawing
Key Points - EnQuest plans to acquire four Malaysian assets from Petronas Carigali in a deal executives call “transformational,” with production expected to rise above 100,000 barrels of oil equivalent per day and more than double the company’s scale. - The transaction carries a...</stron
Beijing taps strategic stockpiles to offset Middle East supply disruptions, avoiding spot market premiums for crude imports. China has started releasing approximately 1 million barrels per day from its oil reserves, responding to prolonged Middle East supply disruptions th
An American company is preparing to send a cargo of diesel and gasoline to Cuba in what, if successful, would be the biggest U.S. shipment of fuel to the island nation since the start of the U.S. embargo, Bloomberg reported. Florida-based Vanguard Energy is already exporti
Evidence suggests the US Navy is moving more crude through the Strait of Hormuz than official data indicates, easing supply concerns. Oil prices fell after the US energy secretary reported a meaningful increase in Hormuz transits, with indications the US Navy is facilitati
ING analysts Warren Patterson and Ewa Manthey note that WTI and Brent fell sharply but see upside for Oil prices as US–Iran tensions persist and no peace deal is in sight. They highlight tightening global and US Oil markets, falling inventories, and sharply lower Chinese O
Oil prices remain subdued near two-month lows amid Middle East tensions and upcoming US inflation data. West Texas Intermediate crude trades near $87.50, nearly flat for the day, as renewed US-Iran hostilities and the Strait of Hormuz closure support prices. The commodity
Oil prices increase after US strikes Iranian targets The US launched self-defense strikes against Iranian military targets near the Strait of Hormuz. Brent crude was up 1.03% at $92.39 per barrel, while West Texas Intermediate gained 0.91% to trade at $89.00 per ba
WTI oil price stabilizes around $87.40 per barrel WTI oil price experiences volatility after registering over 2.5% losses in the previous day. The conflict in the Middle East has renewed severe supply anxieties, causing crude oil prices to advance. Industry
13 million barrels per day wiped off global supply The oil market has been guided by sentiment and hopes of an imminent peace deal. About 13 million barrels per day have been wiped off global supply due to the closed Strait of Hormuz. The oil futures market
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