Oil benchmarks recover early losses after Wednesday’s 7% drop amid renewed skepticism over a U.S.-Iran nuclear agreement. Brent crude futures climbed 0.66% to $101.94 a barrel in early Asian trade, while U.S. WTI crude rose 0.74% to $95.78. The gains followed a sharp 7% de
Oil prices retreat as traders bet on eased Middle East tensions and improved supply routes through the Strait of Hormuz. West Texas Intermediate crude fell to $93.25 in early Asian trading Thursday, extending losses below $93.50. The decline reflects market optimism over p
Crude prices rebound modestly as traders reassess supply risks following a 3% decline on eased Middle East tensions. Oil prices recovered marginally in early trading after falling nearly 3% on reports of progress in US-Iran diplomatic talks. The decline followed speculatio
The United States has been playing a vital role as the world’s “swing supplier” of key energy commodities amid the global shortage triggered by the war in Iran, with surging exports helping to cut the energy deficit. According to data from commodities intelligence firm Kpl
Unusual pre-market volume in WTI futures raises insider trading concerns ahead of a market-moving Axios report on U.S.-Iran talks. Over $1.7 billion in front-month WTI crude futures traded in the hour before an Axios report on a potential U.S.-Iran peace deal sent oil pric
A 30% drop in oil imports from the Persian Gulf threatens growth and risks stagflation across Asian economies. Asian economies are grappling with a sharp decline in oil and gas supplies from the Persian Gulf, triggering economic slowdowns and stagflation risks. The region
Oil prices rise after investors weigh potential de-escalation in the Middle East, reducing concerns over supply disruptions. West Texas Intermediate crude futures climbed in early trading as investors reassessed geopolitical risks amid reports of progress toward a Middle E
Oil prices rise after investors weigh potential de-escalation in the Middle East, reducing concerns over supply disruptions. West Texas Intermediate crude futures climbed in early trading as investors reassessed geopolitical risks amid reports of progress toward a Middle E
Governor announces temporary gasoline tax cut to ease inflationary pressure from rising fuel costs tied to geopolitical tensions. Kentucky Governor Andy Beshear will reduce the state’s gasoline tax as fuel prices surge due to the Ukraine war. The move aims to provide relie
As the Strait of Hormuz has now been closed for nearly nine weeks, the oil hub at Fujairah in the United Arab Emirates (UAE) has become an even more prominent oil export and bunkering hub than it has ever been. Thanks to its strategic position on the east coast of the UAE