Crude Oil

The International Energy Agency announced on Friday that global oil demand and supply will be lower than originally thought. This is because the Iran War has not been resolved, and the return to 'normal Middle East flows' until 2027 is delayed. Fuel prices are also expected to rise as a result. Crude prices have reached $110 per barrel for the first week since May due to an increase in attacks on oil tankers along Middle East shipping routes. This increase is overshadowed, however, by the record-breaking price of diesel. The IEA has now predicted that the world's oil supply will...

Stella Qiu gives us a look at what the future holds for European and global markets. Maybe promising to borrow $1.3 billion to 'give' to each American who votes for your party wasn’t a good idea. This fiscal excess at a time of high inflation may not have directly caused the latest bond market 'rout', but it sure did not help. Bond markets are sending a message to governments around the world: If you want to continue borrowing, you will have to pay more. Much more. The benchmark 10-year U.S. Treasury Yield hit a three-year high in Asia of 4.9708%,...

The price of oil rose on Friday, and both major benchmarks will 'end the week above $100 per barrel for the first time since mid-May. This is due to the increasing number of attacks on key shipping routes across the Middle East. Brent crude futures rose $1.05 or 1% to $108.68 per barrel at 0045 GMT. U.S. West Texas Intermediate Crude rose 95 cents or 1% to $103.45 per barrel. Both benchmarks were up over 6% Thursday. The benchmarks gained nearly 13% on a weekly basis - the biggest gain since the week ending July 17. The Houthis, who are...

According to four sources in the industry, Nigeria's Dangote Refinery has purchased at least 16,000,000 barrels of Nigerian crude oil for arrival in October. This is consistent with previous months, and significantly higher than average last year as Africa's biggest refinery ramps-up processing. Dangote has 16 million barrels of?oil, which is a combination of monthly allocations by Nigerian National Petroleum Company, and volumes purchased in a tender. This amounts to around 520,000 barrels / day. This is the majority of the refinery's?700,000.bpd monthly intake. Investors are focusing on the feedstock in preparation for an initial public offer. The purchases will...

Donald Trump has said that he expects the war against Iran to end following the midterm elections in November. He also threatened to 'again' attack a nuclear site linked to the Islamic Republic after both sides launched their 'biggest wave of strikes on shipping since the beginning of the six-month war. Saudi civil defense authorities issued emergency alerts on Thursday in Khamis Mushait, a city in southwest Yemen, for the fourth consecutive day, after clashes with the Houthis, who are backed by Iran. Brent crude prices were above $100 per barrel, as both supply routes through the Strait of Hormuz...

A researcher from the state-owned oil company Sinopec stated on Thursday that the penetration rate of electric vehicles in China is expected to rise, but at a slower pace towards the end of the decade. Continued growth in this sector will reduce oil demand from the largest crude oil importer in the world. Fairy Wang, vice president of Sinopec’s Economics and Development Research Institute, said at the APPEC Conference in Singapore that EVs are expected to displace 56?metric tonnes, or approximately 1.2 million barrels a day?of oil demand?in China. She said that "it is equivalent to about 15% of China's...

Aster Chemicals & 'Energy, Singapore's energy company, has run its naphtha cracker between?75% and 80% over the last five months. The company plans to increase utilisation rates even further. Andre Khor told the APPEC Conference that Aster will continue to ramp up and start supplying petrochemicals. Aster, a joint venture of Indonesia's ?Chandra Asri and trading major Glencore, operates a 1.1-million-metric-ton-per-year ?steam cracker on ?Singapore's Bukom Island. He added that the naphtha cracker resumed its operations in September's first week after being shut down for maintenance in August. Khor said the company is using naphtha ?from its 237,000-barrel-per-day refinery and...

Ankur Banerjee gives us a look at what the future holds for European and global markets Investors may be starting to realize that higher oil prices and elevated bond yields are the new norm as the Middle East war spreads in advance of central bank meetings, where policymakers might'struggle' to quell the markets' inflation anxiety. The European Central Bank is expected to kick off the central banking bonanza with a rate hike later today. Next week, the Federal Reserve will be followed by the Bank of Japan and the Federal Reserve. The focus will be on what comes next as...

Sethuraman, N. R. NEW DELHI, September 10 - Oil prices held steady on Thursday, after Brent crude surpassed $100 per barrel. Traders braced for further supply disruptions, as 'Iran and United States launched their biggest attacks?on shipping since the six-month conflict began. Brent crude futures fell by 0.1%, to $101.10 per barrel at 0256 GMT. U.S. West Texas Intermediate Crude was $96.24 per barrel, an increase of 0.2%. Brent prices are up nearly 30% since the lows of early August. A permanent agreement between the U.S.A. and Iran on a cease-fire never materialised. Iran announced on Wednesday that it had...

The Venezuelan opposition-controlled boards that have supervised U.S.-based refiner Citgo Petroleum for ?the last seven years are preparing to ?wind down as soon as this ?month, ?following a shake-up by Venezuelan interim President Delcy Rodriguez, two sources involved in the preparations said. Rodriguez started preparing to take control of the refinery owned by Venezuela earlier this year after Washington recognized her government. Her government replaced Nicolas Maduro’s administration, after he had been captured by U.S. troops in January. According to U.S. courts filings, the interim president's administration replaced law firms who had previously?represented Venezuelan and state-run PDVSA oil company in...

The price of oil topped $100 per barrel for the first six-week period on Wednesday, as an escalation of fighting between U.S. forces and 'Iranian forces raised concerns about the supply coming from the region. This also heightened fears over inflationary pressures and increased energy costs. Brent, the global benchmark for oil, has increased by 25 percent since early last week as hope fades of a permanent solution to the six-month old U.S./Iran conflict. This week, the rally intensified after Iran-backed Houthi attacked Saudi energy installations and set them ablaze. The increased risk of disruptions spreading across the Gulf region...

Brent crude, the global benchmark for oil prices, hit $100 per barrel Wednesday. This was the first time this has happened since late July. However the price increase is relatively slow despite the escalating conflict in the Middle East that fuels fears of more disruptions to oil shipments. Russell Hardy, CEO Vitol - the world's largest independent oil trader - told the APPEC Conference in Singapore on Tuesday that the Middle East has exported approximately 9 million barrels of crude per day and another 1 million bpd in refined products in recent days. This compares to roughly 20,000,000 barrels of...

Singapore, Asia's main fuel trading hub, has seen its oil product stockpiles rise to a two-month high, according to government data released Thursday. The increase in stocks of light and middle distillates was also noted. Enterprise Singapore reported that the combined onshore oil products inventories stood at 40.47 millions barrels for the week ending September 9. This compares to 39.04million barrels one week earlier. Multiple?trade sources this week said that September exports to Asia are expected to remain robust for diesel and jet-fuel, but may slow down for gasoline because of margin concerns. Diesel was the major concern in some...

The energy and bond markets have been on edge again after U.S. president Donald Trump stated that the Iran War would not end before the midterm elections in November. This came as the Gulf was hit with the most intense attacks in the conflict to date. Markets are awaiting the likely rise in interest rates by the European Central Bank and the first U.S. On Thursday, we'll have an update on inflation as Treasury Secretary Scott Bessent appears to have failed with his bond-buyback operation. On Wednesday, crude oil reached its highest price since late May, above $100 per barrel,...

Brent crude climbed to $100 per barrel Wednesday, keeping Asian stock markets calm as the attacks intensified in the Middle East. This stoked inflation fears ahead of closely-watched U.S. consumer price indices. As traders exited their short positions, the yen rose to a near seven-month high against the dollar. This was due to expectations of faster Bank of Japan rate hikes as well as a possible rush of Japanese capital repatriation. The euro climbed ahead of Thursday's European Central Bank policy announcement, as markets were expecting an increase amid inflationary pressures due to the Iran War. Iranian-backed Houthis launched attacks...

Brent crude, the global benchmark for oil prices, has risen this month. However it has remained below $100 per barrel despite the recent escalation of the U.S. - Iran conflict which has caused disruptions in Gulf exports via the Strait of Hormuz or the Red Sea. According to Argus, Crude Oil?shipments are now at 11 million barrels a day (bpd), down from 18 million bpd prior to the Iran War seven months ago. What are the factors that influence oil prices? SIGNIFICANT VOLUMES CAN FLOW?THROUGH HORMIZ Claudio Galimberti, Rystad's Chief Economical Officer, stated that in the week prior to fighting...

Investors were on edge Monday as rising?oil costs, the conflict in the Middle East, and political unrest in Europe kept them on edge. Stocks drifted lower ahead of important U.S. data on inflation later this week. Tehran announced that it would declare a restricted area outside the Strait of Hormuz within days after U.S. forces struck three Iranian tankers, and Iran's Islamic Revolutionary Guard Corps fired ballistic missiles on two U.S. Navy vessels. Brent crude futures have risen 1.3%, to $97.5 per barrel, the highest in seven weeks. Oil prices rose almost 8% in the last week, and are now...

Treasury yields, the dollar and S&P?500 all rose on Friday as U.S.?job creation?accelerated and unemployment rate remained steady. Investors are looking forward to the consumer inflation report next week as a key factor in this determination. The nonfarm payrolls increased by 162,000 positions last month, following a 21,000-job increase that was upwardly revised in July. Economists surveyed by predicted an increase of '56,000 following a previous reported decline of 23,000 jobs in July. Last week, the yield on 10-year benchmark U.S. notes increased by 1.21 basis points to 4.774%. Just after the report, it was 4.792%. The yields on two-year...

Bond yields fell on Thursday, as Federal Reserve Governor Christopher Waller's comments signaled a willingness for the Fed to be patient in raising interest rates. Waller said in remarks at a NEXT Newsmaker event that if upcoming data?confirmed?inflation pressures were cooling off, he was inclined to argue for keeping interest rates steady at the next policy meeting of the U.S. central bank. In remarks for a NEXT Newsmaker, Waller said that if upcoming data 'confirmed' a cooling of inflation pressures, he would be inclined to advocate keeping interest rates constant at the next meeting of the U.S. Central Bank. After...

Energy Secretary Chris Wright of the United States said that after arriving in Venezuela on Tuesday, the oil companies in the U.S. as well as?other countries will sign deals in Caracas tomorrow that will result in a more-than-doubling in crude production over the next few year. Wright is in Venezuela for a day-long visit, his second trip since U.S. troops seized Venezuelan leader Nicolas Maduro's office in January. Venezuelan oil production peaked at over 3 million barrels a day in the late 90s, but then plummeted due to a lack investment, poor management and U.S. sanction. In recent months, it...

In August, the crisis caused by the conflict in Iran in Asia's supply of refined fuels continued. The region that imports the most refined fuels dropped to its lowest level since the start of the war. According to data compiled by Kpler - a commodities analyst - Asia's imports for light and middle distillates in August were estimated at 5,10 million barrels a day (bpd), down from 5.61 millions bpd during July. Imports have dropped by about 2 million bpd from the 7.06 million bpd average in the three months prior to February 28, when Israel and the U.S. launched...

Investors worried about inflation and a new wave of interest rate increases were prompted by renewed fighting in the Middle East, which boosted oil prices. Japan's benchmark?10-year? has hit 3% for a first time in generations. The 10-year U.S. Treasury Yield, which is used as a benchmark to determine prices in all asset classes, broke resistance at 4.75% and now stands at 4.78%, its highest level since early 2025. The futures market for French and German bonds extended the selling, which drove yields up to 15-year highs. Australia's 10-year bond yield rose at the fastest rate in five months. Ryutaro...

As renewed fighting in the Middle East pushed oil prices above $90 per barrel, selling drove global bond yields to new highs. This put pressure on stock markets all over the world. The 10-year U.S. The 10-year?U.S. Treasury yield, which is used as a benchmark to set prices for all asset classes, increased 2.2 basis points, reaching a 20-month high of 4.78%. Japan's benchmark 10-year yield was close to 3%, the highest level in a generation. U.S. Futures stabilized after Wall Street Indexes recorded modest overnight drops, but the mood remained nervous as the U.S. Jobs data due on Friday...

Japan's crude oil imports increased by 17% from the previous year in July, as a result of a surge in U.S. Official data released on Monday showed that?shipments, a resurgence in Saudi Arabian purchases and lower supplies from Middle Eastern producers were offset by a rise in?supplies. The Ministry of Trade, Economy and Industry reported that imports increased to 2,38 million barrels a day (11.72 millions kilolitres) for the second consecutive month despite disruptions caused by the U.S./Israeli war against Iran. Imports to?the Middle East dropped 21.4% from July. The United Arab Emirates, Japan's two largest suppliers, and Saudi Arabia...