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
Federal Reserve Governor Lisa Cook warns rising crude prices could complicate inflation expectations and monetary policy decisions. Federal Reserve Governor Lisa Cook identified oil prices as a critical risk to inflation expectations, stating that adverse movements in crud
Brent and WTI crude fell 3-4% after Iran claimed a draft deal with the US, which Washington denied as fabricated. Crude oil prices tumbled after Iran’s state media reported a 14-point draft agreement with the US to reopen the Strait of Hormuz and lift naval blockades. The
May’s Conference Board confidence index fell to 93.1, defying expectations, but risks from Iran and fuel prices may pressure sentiment ahead. US consumer confidence edged down to 93.1 in May from an upwardly revised 93.8 in April, outperforming forecasts of 92.0. The margi
Analysts warn fuel costs could spike further this summer if oil flows through the Strait of Hormuz remain disrupted amid tight inventories. US gasoline prices could climb to $5 per gallon this summer if oil shipments through the Strait of Hormuz do not resume soon, accordi
Japan’s industry ministry will officially switch the benchmark for calculating gasoline price subsidies back to Dubai crude prices from Brent crude, effective June 4, after Dubai crude prices stabilized and the gap between Dubai and Brent has narrowed, allowing for more accurate...</stron
The French energy firm extends gasoline and diesel price limits amid sustained crude oil volatility linked to Middle East tensions. TotalEnergies will maintain its fuel price caps at all French service stations through June, citing ongoing geopolitical instability in the M
Total energy exports from the United States reached a record 31 quadrillion British thermal units (quads) in 2025, 2% more than the previous record set in 2024. U.S. energy imports were 21 quads, down 5% from 2024 Taken together, net trade—total imports less total e
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