Oil prices fall as vessel movements through the Strait of Hormuz increase, easing supply disruption fears amid Middle East tensions. West Texas Intermediate crude slid to $69.40, its lowest level in four months, as shipping activity in the Strait of Hormuz rebounded. The d
New UK Prime Minister Andy Burnham faces pressure to choose between North Sea oil expansion or renewables as global supply disruptions intensify. The UK’s next government will confront a critical energy policy decision as global oil supply disruptions heighten security con
Oil prices fell sharply in the second quarter as traders bet on a US-Iran peace deal, though tanker traffic in the Strait of Hormuz remains subdued. Brent crude posted its steepest quarterly decline since 2020, shedding nearly 40% in Q2 amid optimism over a potential US-Ir
WTI oil price remains near $69.50 West Texas Intermediate oil price is subdued for the second day, trading around $69.70 per barrel. The decline in crude oil prices is due to easing supply concerns. Potential peace talks in Doha between the US and Iran are
WTI oil price remains subdued amid US-Iran talks West Texas Intermediate oil price is trading around $69.70 per barrel. The decline in crude oil prices is due to easing supply concerns amid potential peace talks between the US and Iran. The reopening of the
India's crude imports hit 5 million b/d in June India's crude imports reached a record high of 5 million barrels per day in June. Russian oil accounted for 2.6 million barrels per day, making up 54% of India's total crude imports. This is a significant incr
Energy firms increase drilling plans as domestic gas shortages and Middle East tensions threaten Australia’s fuel security. Australian oil and gas companies are accelerating exploration efforts to address domestic supply risks. The move follows warnings from regulators abo
US crude oil inventories fell by 6.072 million barrels The decline in US crude oil inventories is attributed to a decrease of 6.072 million barrels in the week ending June 26. This drop follows a decrease of 765,000 barrels in the previous week. Over the la
A surprise 4.1M barrel decline in crude stocks fails to offset broader demand concerns, pressuring oil lower. Oil prices fell after a private survey reported a 4.1 million barrel crude inventory draw, exceeding expectations of a 4.1M decline. Distillates rose by 2.9M barre
Crude oil settles down $1.25 at $69.50 Crude oil is settling down $1.25, or 1.77%, at $69.50. The high price for the day reached $71.60, while the low has been extended to $69.22. The price briefly traded above the 100-hour moving average near $70.40, but the breako
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