Citi expects Brent crude to average $75 in Q3 2026, citing potential US-Iran negotiations and Hormuz reopening as key drivers. Citi projects Brent crude to average $75 a barrel in the third quarter of 2026, reflecting expectations of a US-Iran deal and the reopening of the
Oil prices stabilize after mixed signals from Washington and Tehran ease immediate supply disruption fears. West Texas Intermediate crude trades around $71.75, nearly flat on the day, as investors weigh conflicting geopolitical signals. The US and Iran exchanged strikes ea
Chipmakers lead a market rally as AI-driven demand offsets fading fears of an Iran-related oil supply shock. Global stocks climbed as semiconductor shares surged and crude oil prices retreated, easing concerns over potential disruptions from Iran. The rally in chipmakers w
Brent crude’s rise from $71 to $79 reflects tightening physical inventories despite short-term market distortions. Brent crude prices climbed from $71 to $79 a barrel, signaling a potential structural deficit in oil markets. The rebound extends beyond a short-covering rall
A 12-month extension of the Iraq-Turkey crude pipeline agreement will prevent a July 27 shutdown of Baghdad’s critical export route. Turkey and Iraq are finalizing a 12-month extension of their crude oil pipeline agreement, averting a July 27 expiration that risked halting
Crude oil futures have reversed sharply lower, trading back below the $72.00 level at $71.91, down $1.62 (-2.08%) on the day. Despite another round of heightened geopolitical tensions in the Middle East—including U.S. strikes on Iran and Iranian warnings that oil and gas i
U.S. crude production reached an all-time high last year, reinforcing its position as the world’s top oil producer. U.S. crude oil production averaged a record 13.6 million barrels per day in 2025, according to government data. The figure marks a continued rise in output,
Regulator cites insufficient market infrastructure to support round-the-clock energy derivatives trading as CME shares drop 2.3%. The U.S. Commodity Futures Trading Commission will deny CME Group's request to expedite approval for 24-hour oil futures contracts. Officials r
Indonesia has recently welcomed the first cargo of Russian crude oil under a deal Southeast Asia’s biggest economy struck with Moscow in April. About 770,000 barrels of Russian crude oil was delivered to Indonesia’s port of Balikpapan at the end of June, per customs data b
The United States remained the world’s largest crude oil producer in 2025, according to our International Energy Statistics database, extending a streak that began in 2018 when the United States overtook Russia to become the world’s leading producer. Crude oil production i
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