Geopolitical risks in the Middle East drive WTI oil prices up 1.57% as OPEC+ output increases take a backseat. West Texas Intermediate crude oil climbed to $89.95, gaining 1.57% on Monday, as escalating tensions between Israel and Iran, along with Houthi-related disruption
WTI oil trades up 1.57% at $89.95 West Texas Intermediate oil prices are rising due to escalating tensions between Israel and Iran. The conflict has raised concerns over potential disruptions to global energy supply. OPEC+ has announced a production increas
Aker BP will receive an additional 2.2 million barrels of oil equivalent after the partners in the Johan Sverdrup field completed a redetermination process that slightly increased the company’s ownership stake. The adjustment raises Aker BP’s interest in Johan Sverdrup to
The Railroad Commission of Texas imposed $1.1 million in fines for compliance violations during its latest enforcement meeting. The Railroad Commission of Texas (RRC) assessed $1,111,897 in penalties against oil and gas operators and businesses for regulatory violations. T
Chinese buyers are being offered Iranian crude at discounts to Brent, compared to a premium in May, as demand from China’s independent producers has weakened in recent weeks amid soaring input costs that dent refining margins. The price of Iranian Light for delivery in Jul
Quick Read - BNO's 258% ten-year return dwarfs USO's 49%, since Brent futures price geopolitical supply disruptions like the Hormuz closure before WTI does. - The EIA projects global inventory draws of 8.5 million b/d in Q2 2026, then sees Brent falling to $89 by Q4 as Middle...<
Oil futures spent much of the spring moving sideways while something very different was happening in the physical market. Inventories were disappearing Strategic reserves were being spent. Tankers that had been at sea when the Iran war began were arriving and emptyi
U.S. gasoline inventories aren’t at record lows, but they are falling fast. The distinction is important The current level of inventories does not point to an immediate shortage. But the speed of the drawdown suggests the fuel market has been burning through its cus
OPEC+ hikes oil output targets by 188,000 barrels per day OPEC+ agreed to raise oil output targets by 188,000 barrels per day in July. The increase is the same size as June's hike, which was adjusted down from the 206,000-barrel-per-day increases in April and May.
The Middle East's largest remaining oil export corridor came under renewed pressure on Monday after Yemen's Houthis announced a complete ban on Israeli shipping in the Red Sea, risking a further widening of the shipping crisis beyond the Strait of Hormuz. The announcement
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