June 18 A recovery in oil flows through the Strait of Hormuz and oil production following the U.S.-Iran interim peace deal will take time, potentially several months, analysts at two banks said. Shipments through the strait, through which about a fifth of global oil supply
Oil prices continued tumbling on Thursday after President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding to end the war and reopen the Strait of Hormuz. The deal starts a 60-day negotiation period centered on Iran's nuclear progra
Crude prices test 200-day moving average at $73.58 after Kuwait accelerates production, pressuring markets. Kuwait increased oil output to over 2 million barrels per day within a week, exceeding earlier expectations. The move aims to capitalize on global demand but adds su
Global oil supply is projected to exceed demand by over 5 million barrels per day in 2027 as Middle East output recovers post-crisis. The International Energy Agency forecasts a 5 million barrel per day oil surplus in 2027 as Middle East production rebounds following the r
India’s oil and gas import bill reached $18.7 billion in May, driven by rising crude and LNG prices and increased shipments. India’s energy import bill climbed 81.6% year-over-year to $18.7 billion in May, as higher global oil and gas prices lifted costs. The country’s cru
WTI Oil hits three-month low at $73.36 WTI Oil prices have declined to a three-month low. The decline is attributed to hopes of a US-Iran peace agreement. The price of a WTI barrel fell to $73.36 on Thursday, on track for a more than 10% weekly decline.
West Texas Intermediate drops to a three-month low as Middle East tensions ease following a US-Iran agreement and Hormuz reopening. West Texas Intermediate crude fell to $73.36, its lowest level in three months, as hopes for a US-Iran peace deal weighed on prices. The decl
Oil prices recover from a five-day losing streak despite reduced Middle East tensions and softer supply risks. West Texas Intermediate crude climbed to $75.10 per barrel in Asian trading, halting a five-session decline. The gain comes as investors weigh potential Federal R
Analysts warn global crude stockpiles have fallen to operational minimums despite easing Hormuz tensions, pressuring prices. Brent crude dropped below $80 per barrel as concerns over depleted global oil inventories overshadowed optimism about a potential reopening of the S
Bank warns upside risks dominate as low inventories and disruption premiums could push oil above $130 by year-end. Goldman Sachs forecasts Brent crude at $80 by year-end and $75 in 2027, citing limited downside as markets have largely priced in supply recovery. The bank hi
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