US crude oil futures climb to $74.55/bbl US crude oil futures rose more than a dollar to $74.55/bbl after the US military launched fresh strikes on Iran. The attacks were launched hours after President Trump announced the end of an eight-week ceasefire. The scope
Canada signs agreement for new oil pipeline The governments of Canada and Alberta have signed a Memorandum of Understanding for a West Coast oil pipeline. The proposed pipeline aims to transport oil to Asian markets, declared a potential project of national interes
Occidental Petroleum up 3.9% on crude oil price surge Occidental Petroleum shares increased 3.9% in Wednesday's trading. The surge in crude oil prices contributed to the rise. Evercore ISI upgraded the shares to Outperform from Underperform, citing improvin
Evercore ISI upgrades OXY to Outperform with a $65 target, driving a 4% gain amid a 5% crude oil rally. Occidental Petroleum (OXY) surged 4% to $53.90 after Evercore ISI upgraded the stock to Outperform from In-Line, raising its price target to $65 from $58. The move contr
A 7% jump in crude oil prices to $75.70 a barrel threatens airline profit margins and 2026 guidance. Airline shares fell sharply Wednesday after crude oil prices surged 7% to $75.70 a barrel, driven by geopolitical tensions. American Airlines led the decline, dropping 5%,
Brent and WTI crude jump to two-week highs as geopolitical tensions escalate in the Strait of Hormuz following US retaliation. Oil prices climbed more than 7% to a two-week peak after the US declared an end to its interim ceasefire with Iran, dismissing a recent memorandum
Crude oil inventories in the United States saw a surprise increase of 3.0 million barrels during the week ending July 3, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday The increase brings commercial stockpiles to 41
U.S. petroleum exports reached a record in April as disruptions to international crude oil and refined product flows through the Strait of Hormuz increased global demand for U.S. exports. Exports increased to 13.6 million barrels per day (b/d) in April, 15% more than the p
United States: Inflation expectations edge higher as oil rises – DBS DBS Group Research’s Philip Wee reports that the New York Fed’s June Survey of Consumer Expectations showed 1-year inflation expectations rising to 3.7%, with 3-year expectations at 3.3% and 5-year unchanged at<
DBS Group Research’s Philip Wee reports that the New York Fed’s June Survey of Consumer Expectations showed 1-year inflation expectations rising to 3.7%, with 3-year expectations at 3.3% and 5-year unchanged at 3%. Despite higher oil and survey readings, futures pricing fo
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