India’s crude oil inventories climbed to 104 million barrels in June, nearing levels last seen a year ago amid surging imports. India’s crude oil inventories reached 104 million barrels at the end of June, up from 90.5 million barrels in April, driven by record-high import
Citigroup analysts predict Brent prices could fall to $60 by year-end as Strait of Hormuz traffic stabilizes and U.S.-Iran tensions ease. Brent crude prices may decline to $60 per barrel by the end of 2024 as traffic through the Strait of Hormuz normalizes and a potential
Oil futures were on track to post their fourth consecutive weekly loss early on Friday as the tentative reopening of the Strait of Hormuz and the uptick in oil flows weigh down prices. In Asian trade early on Friday, with U.S. markets closed for the July 4 weekend, both be
Oil prices remain under pressure near $68.00, extending weekly losses amid technical oversold signals and sustained downside risks. West Texas Intermediate crude trades near $68.50, up 0.3% on the day but poised for a fourth straight weekly decline. Sellers re-emerged afte
Utilities shift to cheaper coal amid high LNG prices, reducing gas-fired generation by 16% year-on-year. Japan’s gas-fired power generation fell to 17.3 terawatt-hours in June, a 16% decline from the same month last year. The drop reflects a broader shift toward coal as ut
Weaker-than-expected US jobs data and falling oil prices spur risk appetite, lifting Asian equities with KOSPI up nearly 6%. Asian stock markets surged Friday after US Nonfarm Payrolls data showed only 57K jobs added in June, well below the 110K estimate. May’s figure was
Oil prices dip slightly in Asian trading, reflecting reduced geopolitical risks in the Middle East and broader market cooling. West Texas Intermediate crude trades near $68.40, extending a modest decline after a brief rebound in the prior session. The drop follows easing g
Diplomatic progress and restored shipping routes reduce geopolitical risk premium, pressuring oil prices near $68.40. West Texas Intermediate crude trades at $68.40 in Asian hours, extending losses after easing Middle East tensions cut the geopolitical risk premium. Diplom
Iran exports millions of barrels after US blockade lift Iran has ramped up oil exports following a 60-day negotiating window with the US. The country has exported millions of barrels since the agreement, raising revenue as discounts on Iranian crude narrow.
Saudi Arabia shipped 34 million barrels via the Strait of Hormuz in two weeks, signaling a rebound in export logistics post-conflict. Saudi Arabia’s oil shipments through the Strait of Hormuz reached 34 million barrels over the past two weeks, more than double the 15 milli
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