Who says price isn't a rationing mechanism? Rather than sink billions into long-term oil sands projects, Alberta energy companies are increasingly chasing the Clearwater formation, a conventional heavy oil field that allows producers to capitalize on rising crude prices fa
ING cuts Brent forecasts to $80 in 3Q26 and $74 in 4Q26 after faster-than-expected Persian Gulf supply recovery weakens prices. Oil prices declined after a US-Iran agreement accelerated Persian Gulf supply recovery, exceeding demand growth. The deal enabled swifter normali
State-owned Pakistan LNG issues emergency tender for mid-July delivery following Strait of Hormuz tensions disrupting Qatari supply. Pakistan has launched a spot tender to secure an LNG cargo for July 15-16 delivery after a Qatari shipment was canceled due to renewed hosti
Oil prices retreat after two days of gains, with geopolitical risks in the Middle East capping deeper losses. West Texas Intermediate crude fell nearly 2% to around $73.10 on Thursday, retreating from recent highs as traders locked in profits after a two-day rally. The dec
Oil prices retreat after a two-day rally but remain supported by US-Iran tensions and supply concerns in key shipping lanes. West Texas Intermediate (WTI) crude fell 1.95% to $73.10 on Thursday as investors locked in gains after two days of sharp increases. The pullback fo
Oil prices retreat after Wednesday’s spike while chip stocks lead gains in European markets amid stabilizing sentiment. Brent crude fell more than 0.5% on Thursday as markets adjusted to the latest Middle East tensions, reversing Wednesday’s sharp gains. The pullback refle
Wednesday’s jump in oil prices to a two-week high suggests that market participants were too complacent about the U.S.-Iran ‘deal to make a deal’ and that the ceasefire would hold and oil flows through the Strait of Hormuz would only increase, analysts at ING said on Thursday.</p
Middle East output remains 10.5 million barrels per day below pre-war levels amid renewed Persian Gulf tensions. Goldman Sachs has shifted its oil outlook, warning that escalating hostilities in the Persian Gulf could disrupt supply recovery. The bank previously forecast a
Oil prices retreat from a two-week high as technical resistance at $75.69 curbs upward momentum amid mixed signals. West Texas Intermediate crude trades near $74.00, down 0.65% in Asian trading, after failing to extend a two-day rally. The commodity hit resistance at the 2
WTI crude oil price holds above $74.00 WTI crude oil price is currently holding above $74.00. The price had previously reached a two-week high of around $75.75. The current price stability is attributed to hesitation among bears due to US-Iran and Hormuz risks.</
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