Traders eye next week’s inflation report for Fed policy clues after crude stabilizes near key support levels. Oil prices have stabilized above $68 after briefly dipping below pre-war levels, with traders now focused on next week’s US CPI data. The unwinding of geopolitical
The Northern Shield Energy Corridor aims to transport 500,000 barrels per day, boosting domestic and export crude supply. Ontario and Alberta have unveiled plans for a 3,300km crude oil pipeline, the Northern Shield Energy Corridor, connecting Hardisty, Alberta, to Sarnia,
India’s state-owned MRPL charters a tanker to import Iraqi oil, signaling renewed Middle East supply reliance despite shipping risks. India’s state refiners have resumed purchases of Iraqi crude, marking the first such move since shipping risks in the Strait of Hormuz ease
Traders adjust positions as crude reclaims 68.70 resistance, signaling a short-term bullish repair above 69.40-69.60. Crude oil futures turned bullish after reclaiming the 68.70 intraday decision zone, a level previously acting as resistance. The shift occurred as buyers p
The headline says that the crude oil tanker is one that is Saudi-flagged and adds to the earlier attack on an LNG tanker struck in the same area. In case you missed it: More on reports Iranian forces strike LNG tanker and commercial ships in Strait of Hormuz The supposed r
The acquisition of bp’s 40% stake gives Equinor 100% ownership of a 400 million barrel development offshore Canada. Equinor has agreed to acquire bp’s non-operated 40% stake in the Bay du Nord offshore oil project in Canada’s Flemish Pass basin. The deal will make Equinor
West Texas Intermediate (WTI), futures on NYMEX, trades 1% higher to near $69.40 during the European trading session on Tuesday. The oil price gains after reports that Iran attacked at least two commercial ships transiting through the Strait of Hormuz, a vital passage to a
Two fully loaded Japanese-operated tankers signal renewed oil transit through the critical chokepoint after Iran temporarily halted traffic. Two very large crude carriers operated by Nippon Yusen KK and Kawasaki Kisen Kaisha are transporting 4 million barrels of Saudi crud
Chips down, Oil up and markets eye RBNZ decision US equity benchmarks were green across the board on Monday. The S&P 500 finished just shy of session highs, up 0.7%, while the Dow recorded a second consecutive positive day and refreshed all-time highs above
Gulf oil exporters slash official selling prices amid oversupply, with Saudi Arabia’s discount the steepest in decades for Asian markets. Saudi Arabia reduced its official selling price for crude to Asian buyers by up to $11 per barrel, the largest cut in decades, as Gulf
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