Crude prices rebound from this week’s selloff, nearing critical technical levels that could signal a shift in market bias. Crude oil futures settled at $71.92, rising $1.58 or 2.25%, as buyers attempted to recover from a sharp midweek decline. The earlier drop pushed price
WTI crude futures rise as traders cover short positions amid geopolitical risks in the Strait of Hormuz. West Texas Intermediate crude futures rebound to $71.50, up more than 2% on Thursday, ending a three-day decline. The move follows a selloff to a three-month low, promp
Oil prices rise over 2% to $71.50 after three-day decline, as geopolitical risks in key shipping lanes show mixed signals. West Texas Intermediate crude rebounded more than 2% to $71.50 on Thursday, halting a three-day slide as short covering lifted prices from a three-mon
Saudi Arabia's biggest oil export terminal is finally stirring back to life, and that's a much bigger deal than another headline about the Strait of Hormuz reopening. After sitting largely idle since early March, Saudi Aramco is preparing to resume crude loadings at Ras Ta
TD Securities commodity strategists Ryan McKay and Bart Melek note that crude Oil flows through the Strait of Hormuz are gradually normalizing, but around 10–11m b/d of Middle East production remains offline. With US inventories drawing rapidly and CTAs (Commodity Trading
August Brent futures drop to $73, the lowest since late February, as near-term supply glut weighs on prompt prices. August Brent futures fell to $73 a barrel on Thursday, the lowest level since February 27, as a surge in Middle East exports pushed the market into contango.
For most of 2026, Exxon Mobil (XOM) and Chevron (CVX) investors enjoyed good gains as the Middle East crises pushed crude price to record highs. The Iran war had throttled the Strait of Hormuz, the narrow passage through which roughly a fifth of the world's oil normally tr
Ukrainian drone attacks on Russian refineries trigger nationwide fuel rationing and supply disruptions through at least 2026. Russia has imposed fuel rationing in at least 17 regions, with shortages reported nationwide as Ukrainian drone strikes disable key refineries. The
The Abu Dhabi National Oil Company reduced its flagship crude price by $2.96 per barrel for July amid softer regional benchmarks. Abu Dhabi National Oil Company set its July official selling price for Murban crude at $101.48 per barrel, down from $104.44 in June. The cut f
WTI Oil extends decline as Hormuz traffic normalizes, US Iran waiver lifts supply West Texas Intermediate (WTI) US Oil trades around $69.30 at the time of writing, down 0.65% on Thursday. The American benchmark Crude is now posting a fourth consecutive day of losses, weigh
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