Geopolitical risks in the Strait of Hormuz and a smaller-than-expected US crude inventory draw lift WTI above $78.70. West Texas Intermediate crude trades near $78.70, up nearly 10% this week, as Middle East tensions sustain supply concerns. The latest US strikes against I
2.25% and holding: Why the BoC, not the barrel, moves the Loonie The Bank of Canada (BoC) held its policy rate at 2.25% on Wednesday and published a Monetary Policy Report (MPR) whose entire disinflation path rests on one assumption: Brent falls to $75 and stays
Oil prices spike after U.S. reimposes naval blockade on Iran and Tehran retaliates with tanker strikes in the Strait of Hormuz. Brent crude jumped above $85 a barrel after the U.S. reinstated a naval blockade on Iranian ports and struck coastal targets, prompting Tehran to
China’s ‘Secret’ 1.4 Billion Barrel Oil Reserve Is Keeping Your Gas Prices Down, But It Won’t Last Forever Quick Read - China cut crude imports to 7.8 million bpd in May, accounting for 74% of the entire global trade decrease, while keeping its 1.4 billion barrel reserve intact....</stron
EIA data shows commercial crude inventories fell to 409.7 million barrels, 6% below the five-year average for mid-July. U.S. crude oil inventories declined by 1.7 million barrels in the week ended July 10, the Energy Information Administration reported. The drawdown pushed
Ukraine’s refinery strikes cut Russia’s processing capacity to 3.91 million barrels per day, stranding record offshore crude volumes. A 135 million-barrel backlog of Russian crude oil is stuck offshore after Ukraine’s drone strikes crippled domestic refining capacity. The
The weekly crude oil inventory from the EIA shows: Crude Oil -1.692 million vs -2.594M estimate Gasoline -1.533 million vs. -0.760 M estimate Distillates +4.556 million vs. 0.084M estimate Cushing 0.430 million vs -0.0052M estimate. The private data released late yesterday
“Compute Is the New Oil”: Kalshi Just Launched a Way to Bet on the Future Price of AI Computing Power Quick Read - CME and ICE are racing Kalshi to own compute futures, with both incumbents posting operating margins near 70% as the prize. - Kalshi's new CRO Uday Shah defected...<
Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended July 10: 409.7M barrels. - Crude inventory change: -1.7M barrels vs. +3M barrels for the week ended July 03. - Consensus estimate: -1.800M. - Crude oil futures (CL1:COM
Marathon Petroleum, Valero, and HF Sinclair surged over 80% this year as refining spreads hit $59 per barrel amid global fuel shortages. Marathon Petroleum (MPC), Valero (VLO), and HF Sinclair (DINO) have each gained over 80% in 2026, significantly outperforming the S&P 50
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