Rising crude costs drove Japan’s import bill to an all-time high, up 25.4% year-on-year amid a 50% oil price increase. Japan’s import costs reached a historic $89.46 billion in June, driven by a 25.4% annual increase as global oil prices climbed over 50% in the past year.
Geopolitical tensions in the Middle East drive WTI prices higher amid concerns over potential oil supply disruptions. West Texas Intermediate crude oil trades at $84.90, approaching $85.00 as escalating Middle East tensions fuel supply disruption fears. The benchmark remai
Oil prices climb for a second session as risks to key export routes heighten supply concerns globally. West Texas Intermediate crude futures rose above $84.50 per barrel, trading near $84.60 in Asian hours. The gain marks a second consecutive session of increases amid esca
Oil prices climb as attacks on key export routes and Red Sea tensions heighten global supply risks. West Texas Intermediate crude rose to $84.60 per barrel in Asian trading, extending gains amid escalating supply threats across multiple export hubs. The surge follows warni
China’s crude import levels and refined product exports are emerging as key drivers for oil prices amid Middle East supply disruptions. China’s crude oil imports and refined product export trends are set to influence global oil prices for the remainder of the year. Recent
Confirmed tanker reversals signal physical oil supply disruption, pushing gasoline above $4 a gallon amid dual Gulf chokepoint risks. Two Saudi crude tankers bound for China and India reversed course in the Red Sea after Houthi threats, marking a shift from verbal warnings
API data shows a 2.6M-barrel increase in crude stockpiles, ending a 13-week drawdown streak and defying expectations. U.S. crude oil inventories rose by 2.6 million barrels last week, reversing a 13-week trend of declines. The build surprised markets, which had anticipated
API data shows a surprise inventory build, contrasting with a 57 million barrel draw over the past 13 weeks. US crude oil inventories increased by 2.603 million barrels for the week ending July 17, reversing a 564,000-barrel decline the prior week. The build comes despite
Goldman Sachs forecasts Brent crude could surge to $120 per barrel by Q4 2026 if Strait of Hormuz closures persist amid geopolitical tensions. Goldman Sachs warned Brent crude could climb to $120 per barrel by Q4 2026 if disruptions in the Strait of Hormuz continue, tighte
June production exceeded forecasts as maintenance ended, adding supply amid Middle East export disruptions. Norway’s crude oil production averaged 1.827 million barrels per day in June, surpassing official forecasts after offshore fields resumed operations following season
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