Oil inventories fall, tightening market outlook Oil inventories in Europe and Singapore are declining, which could intensify market tightness. The decline in inventories, combined with stronger third-quarter demand, may require higher prices to trigger demand destr
First-quarter data shows Malaysia's crude production fell to 28.1 million barrels, offset partly by a 3% rise in condensate output. Malaysia's total oil production declined 5.5% year-over-year to 43 million barrels in the first quarter of 2026, driven by a 9.4% drop in cru
Persistent geopolitical risks in the Persian Gulf keep oil prices elevated, raising inflation concerns and reinforcing ECB tightening expectations. Oil prices are expected to hover near $100 due to ongoing geopolitical tensions in the Persian Gulf, particularly restriction
Oil prices fall as 4 million barrels per day of demand destruction and strategic reserves counterbalance lost Strait of Hormuz supply. Brent crude futures declined 2.84% despite the Strait of Hormuz being effectively closed, as markets downplay supply risks. Analysts cite
Indian energy firms explore investments in Venezuela’s oil sector following a 51% monthly rise in crude imports, officials say. Indian energy companies are in talks to expand their presence in Venezuelan oil fields after crude imports from the country surged 51% in a month
Brent crude rises to $95.37 per barrel A blast at Oman's main terminal has disrupted oil loadings, pushing benchmark prices higher. The incident has raised concerns about an end to Persian Gulf hostilities. Brent crude was trading at $95.37 per barrel, and
Mina al Fahal, a key Omani oil export hub, suspends operations following an explosion near its mooring berths amid rising regional tensions. An explosion near the single-buoy mooring berths at Oman’s Mina al Fahal crude terminal has forced a suspension of oil loading opera
Oil prices edge lower in Asian trade as traders weigh geopolitical risks against market fundamentals. West Texas Intermediate crude fell to $90.85 in early Asian trading Friday, extending losses below $91.00. The decline comes despite heightened tensions involving Iran, as
Oil prices retreat despite Iran threats after US signals progress on a potential peace deal with Tehran. West Texas Intermediate crude fell to $90.85 in early Asian trading Friday, paring three days of gains. The decline comes as investors weigh Iran’s warnings over the St
Brazil and Guyana drive regional oil export growth South America has increased its oil exports more than the US so far this year. Key producers in the region have boosted production and shipments to meet global demand. Brazil has started production at sever
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