Crude Oil

Four sources with knowledge of the matter have confirmed that India's Reliance industries Ltd, the operator of the largest refinery in the world, will'receive' sanctions-compliant Russian crude oil between February and March, after a one month pause. Reliance received its last shipment of Russian crude in December, after it secured a U.S. concession allowing it to extend the deadline for ending business with Rosneft (a Russian oil company sanctioned by the U.S. government) beyond November 21. Sources said that Reliance, like other Indian refiners will purchase Russian oil from non sanctioned sellers. They did not elaborate on how many cargoes...

Indian refiners are changing their crude import strategies in order to move away from Russia, the top supplier of crude oil. They will instead 'boost' imports from the Middle East. This could help New Delhi clinch a deal with the United States for lower tariffs. India was the largest buyer of discounted Russian crude oil after the outbreak of the Ukraine war in 2022. However, the trade brought backlash from Western nations who targeted Russia's energy industry with sanctions because they claimed that oil revenues helped it fund the conflict. As Middle?East producers keep global markets well supplied, prices are...

The oil prices fell on Monday, after increasing during the previous session. Civil unrest in Iran has subsided and the likelihood of an attack by the United States to disrupt the Middle Eastern major's supply has decreased. Brent crude traded at $63.85 per barrel at 0734 GMT. This is a?28-cents-or-0.44% decrease. U.S. West Texas Intermediate fell 36 cents or 0.61% to $59.08 per barrel. The contract expires Tuesday, and the March contract, which is more active, was $59.10 down 24 cents or 0.40%. The unrest was quelled by the violent crackdown in Iran on protests sparked by economic hardship. Officials...

U.S. Stock Futures fell on Monday, after President Donald Trump threatened to slap additional tariffs on 8 European nations until Greenland was allowed by the U.S. The?dollar dropped against the safe haven currencies of the Swiss franc and yen. Concerns about the impact of a full-blown trade war between Europe and the U.S. on global growth and demand led to a gold and silver price jump. The holiday on the U.S. equity markets and bond market led to thin trading, which likely contributed to a drop of 0.7% in S&P futures and 1.0% in Nasdaq. EUROSTOXX Futures and DAX Futures...

Martin Luther King Jr. Federal holiday on Monday, 19th January will affect the release of major economic, energy, and commodities reports during the week beginning January 18. The schedule is below. The times are in GMT/EST. Some Treasury announcements may be subject to change. Monday, January 19, 2019 Martin Luther King Jr. Day. Closed federal government offices, Federal Reserve and International Monetary Fund. Stock and bond markets. Tuesday, January 20, 2019 The U.S. Department of Agriculture publishes weekly U.S. Export Inspections for Grains, Oilseeds, 1110/1600. NOTE: Delay from Monday due holiday Treasury Department announces weekly sale of 4-, 8, and...

The oil prices were unchanged on Friday, with Brent and U.S. West Texas Intermediate only moving a few cents compared to their closing prices. Brent fell 3 cents or 0.05% to $63.73 a barrel while U.S. West Texas Intermediate rose 4 cents or 0.07% to $59.22 a barrel at 0223 GMT. Brent and WTI both reached multi-month highs after protests in Iran and the U.S. flared up this week. President Donald Trump also signaled the possibility of strikes against the nation. On?Thursday night, Trump stated that the crackdown by Tehran on protesters had slowed, easing fears of a possible military...

US officials have announced that the United States has taken another Venezuelan-linked tanker. Officials told reporters on Thursday that the United States had seized another Venezuela-linked tanker, before a meeting with?U.S. Donald Trump and Venezuelan Opposition Leader Maria Corina Machado. The seizure marks the sixth vessel that has been targeted in the last few weeks, either for carrying Venezuelan oil in its cargo or having done so previously. Officials, who spoke on condition of anonymity said that the seizure occurred in the Caribbean. Southern Command of the U.S. Military confirmed that U.S. Forces apprehended Motor/Tanker Veronica without incident. The Veronica...

On Thursday, oil prices fell from their multi-month highs and gold, a safe-haven asset, eased from its record high after U.S. president Donald Trump 'calmed the market's anxiety over a possible U.S. war against Iran. Investors have been looking for bargains elsewhere in the market as they move away from high-flying names in chip and artificial intelligence. Currency markets paused to catch their breath after the yen fell overnight against the U.S. Dollar to its lowest level since July 2024. The yen then rebounded sharply amid warnings about possible Japanese intervention. Japanese bond yields have eased from record highs following...

Donald Trump, President of the United States, said that he believed it would be best for Venezuela to stay in the Organization of the Petroleum Exporting Countries (OPEC) but he added he wasn't sure if he thought the United States would benefit from this. In an interview, Trump replied that it would be better for Venezuela to remain in the cartel. Trump continued, "I'm not sure that it's better... but they're a member of OPEC and we've never discussed this with them at all." Venezuela, the founding member of this oil cartel, is home to some of the largest reserves...

This week, Venezuelan crude was offered to the?U.S. Gulf Coast refiners are getting barrels from Canada at a premium, according to two traders. A trader said that Venezuelan Merey-16 crude oil was being offered at a discount around $6 to Brent futures for U.S. Gulf Coast deliveries earlier this week. West Canadian Select settled at Houston on Tuesday at a discount of approximately $12.50 to Brent. Last week, global commodities?traders Vitol & Trafigura reached agreements with the U.S. government to help sell Venezuelan oil that was stranded. This came after the interim Venezuelan government agreed to export 50 million barrels...

Asian stocks rose Wednesday, boosted by Japanese shares. Investors?prepared for a quick election in Japan, which could lead to fiscal stimulus. Worries about central bank independence, and 'benign U.S. data on inflation, whipsawed currencies. Gold prices reached a new record high as geopolitical tensions erupted across the globe. Oil prices also rose after U.S. president Donald Trump encouraged Iranians to continue protesting and said that help was on its way. Iran accused Trump, in turn, of inciting violence and encouraging political instability. Early Asian hours saw the Japanese yen at its lowest level since July 20,24, at 159.415 to the...

Analysts and traders said that the discount between U.S. Crude Futures and the global benchmark Brent, has increased by about $1 per barrel, since the U.S. ousted Venezuelan president Nicolas Maduro in January and took control over the South American nation's oil flow. The U.S. has redirected millions of those?barrels? to U.S. port, a move which is likely to boost U.S. Crude exports in the months to come. According to LSEG, U.S. Crude futures traded at a $4.76 a bar discount to Brent Futures on Tuesday. This was the largest since April. Investors believe that the possibility of more Venezuelan...

Asian stocks continued to lose ground on Wednesday. This was largely due to the heightened tensions surrounding U.S. threats of acquiring Greenland in advance of President Donald Trump’s Davos address, while Japanese bonds bounced back sharply after a recent meltdown. The fear of the "Sell America" trade, which emerged in the wake of last year's "Liberation Day tariff announcements" in April, gripped the markets overnight as Wall Street fell over 2% and the U.S. Dollar suffered its largest fall in more than a month. This sent investors running to gold. It soared by 2.1%, reaching a record high of $4,865...

By Anna Szymanski What Mike Dolan, the ROI team and I are looking forward to reading, watching and listening to this weekend. From the Editor Hello Morning Bid readers! The week began with a bang and it is yet to be seen if it will end on a whimper. Federal Reserve Chair Jerome Powell revealed that the Justice Department threatened to indict him on Sunday, drawing widespread condemnation. In a wide-ranging, multifaceted interview with President Donald Trump on Wednesday, Trump stated that he did not plan to fire Powell and also hinted at a possible delay in intervening in Iran....

China's crude imports increased 17% in December compared to a year earlier, and total imports for 2025 will rise 4.4%. The daily volumes of crude oil imported in December 2025 and throughout the year will be at all-time records. According to the General Administration of Customs, the world's biggest crude importer imported 55.97 millions metric tons of petroleum in December. This is equivalent to 13,18 million barrels of oil per day. The increase was 10% compared to 50.89 in November. The data shows that China will import 557.73 millions tons of crude oil by 2025 or 11,55?million barrels per day,...

Wayne Cole gives us a look at what the future holds for European and global markets. Tokyo is back from its holiday in a big way, with the stock market rising by 3% and reaching a record high. Investors are 'welcoming a weakening of the yen as well as the possibility of more aggressive fiscal stimulus. Taiwan and South Korea also set records, while China reached a four-year high. The yen also hit multi-year lows against the Swiss franc, euro and a variety of other currencies. Shorting the yen saved the dollar from embarrassment as it rose to 158.65 after...

Dollar fell and U.S. Equity Futures?eased after Federal Reserve chair Jerome Powell claimed that the Trump administration had threatened him with criminal?indictment. This stoked concerns about the independence of the central bank. S&P futures fell 0.5%, and gold reached a?another?record?high as a reaction to the intensification of the dispute between U.S. president Donald Trump and Fed. The Swiss Franc gained 0.4%, to 0.7979 dollars. The euro rose 0.17% at $1.1656. The news is unsettling for traders, but the immediate impact on interest rates is not clear. Fed funds futures has added about three basis point more in cuts in this...

Ankur Banerjee gives us a look at what the future holds for European and global markets Investors still can't wrap their minds around the latest escalation of the fight between U.S. president Donald Trump and the Federal Reserve. Chair Jerome Powell is fighting back against the "effort" to control interest rates and the Fed. The growing unrest in Iran where, according to an international rights group, more than 500 people were killed, underscored also the geopolitical issues that markets will be navigating by the beginning of 2026. This is why safe-haven assets are well supported. The markets opened trading on...

Two trading sources familiar with the matter confirmed on Friday that China has granted crude oil import quotas to three'refineries' in Shandong Province, which were sold last year to independent operators by'state-run Sinochem Group. One source said that the quotas were given to Zhenghe Group, Huaxing Petrochemical and Shandong Changyi Petrochemical. The total annual volume was around 12 million metric tons (240 000 barrels per day). The quotas were not clear whether they covered the "full" annual amount or only a portion of it. Changyi, Zhenghe and Huaxing are now controlled by Shandong Qicheng Petrochemical. The new quotas require that...

Friday, the premium for high-sulfur fuel oil in Asia over the West reached its highest level in eight months as traders expect more Venezuelan crude oil and fuel oil to be shipped to the United States than to Asia in the coming months. LSEG data show that the East-West 380cst HSFO swap for the first month of 2026, a measure used to compare HSFO prices in Asia, Europe and America, has risen above $27 a barrel, a price last seen in May 2025. This value has nearly doubled since the beginning of 2026. It is more profitable for traders to...

Oil prices stabilized on Thursday, after their recent decline. Stocks were off to a rough start as investors assessed implications of deepening?geopolitical tensions and mixed U.S. labor market data. The top U.S. officials stated on Wednesday that the country "needs" to control Venezuela's oil revenue and sales indefinitely in order to stabilize the economy of the country, rebuild its oil industry and ensure the nation acts in America's best interests. As part of Donald Trump's aggressive campaign to control oil flows in America, the U.S. also seized on the same day two Venezuelan-linked oil tanks in the Atlantic Ocean, including...

Crude futures fell and resource shares rose in Asian trading, as the?markets digested the political turmoil in Venezuela and its fate with regard to its petroleum reserves. Oil prices continue to'slide' after U.S. president Donald Trump announced that Venezuela would "turn over" 50 million barrels to be sold at market value following the toppling of its leader. Japanese shares led to a decline in regional equity benchmarks while commodity shares rose after a surge overnight in industrial metals. Dollar gains were made as geopolitical tensions erupted from South America through to China. Investors waited for data coming out of the...

Kevin Buckland gives us a look at what the future holds for European and global markets. The global stock market's march to higher peaks shows no sign of slowing down. Tokyo, Taipei, and Seoul were among the markets that soared to new peaks on Tuesday. This was after the Dow made the same move overnight on Wall Street. Once trading begins, the FTSE 600, DAX 100 and STOXX will likely extend their record-breaking runs. The political turmoil in Venezuela has not slowed the market. Investors have been grabbing oil and defense shares with a risk-free attitude. Crude oil traders are...

Oil prices dropped on Tuesday, as traders assessed the possibility of increased Venezuelan crude production following the capture by the U.S. of President Nicolas Maduro. This added to expectations that global supplies would be ample this year due to weak demand. Brent crude futures fell by 0.2% at $61.62 per barrel as of 0103 GMT, while U.S. West Texas Intermediate crude crude dropped 0.3% to $58.15 per barrel. Ed Meir, Marex analyst, said: "I believe that if even a small part of the Trump playbook comes true, Venezuelan crude production should increase... If it increases, this will put more pressure...