Crude Oil

The U.S. Treasury Department approved the production, sale and delivery of Iranian oil on Monday. This was a promise made by Washington and Tehran in an agreement last week. The general license announced by the two sides as they continue their talks to reach a final agreement on peace allows for the production, sale and delivery of crude oil, petrochemicals and petroleum products with Iranian origin through August 21. In a recent post on X, Treasury Secretary Scott Bessent stated that Iran had 'committed' to allowing free and open passage through the Strait of Hormuz as well as allowing?International Atomic...

According to data released by the Joint Organizations Data Initiative (JODI), Crude Oil exports from Saudi Arabia fell for the second consecutive month in April to a new record low. The Iran War?disrupted?shipments?from the Gulf Region. Exports dropped to 3.990 million barrels a day from 4.974 in March. JODI data on Saudi Arabian crude oil exports, and production, dates back to 2002. In April, crude oil production in the country was at its lowest ever level, 6.316 million barrels per day, down from 6.967 in March. Riyadh, along with other members of the Organization of the Petroleum Exporting Countries(OPEC), provides...

Asia's crude oil imports are expected to return to pre-Iran Conflict levels, but the flow of refined products is still constrained. Fuel prices reflect this supply stress. According to data compiled by Kpler, the world's largest energy consumer region is expected to import 22.18 millions barrels of crude per day in June. This represents an increase from 20.35million bpd imported in May. The arrivals in June are still below the 26.76m bpd average for the three months leading up to the United States' and Israel's attack on Iran, which took place on February 28. The figures are still well above...

Dollar remained firm as investors grew optimistic about a possible deal after the first round U.S. Iran talks. The yen remained near a 40-year-low and the pound slipped when UK Prime Minister Keir starmer announced he would resign. Qatar and Pakistan, who act as mediators between the U.S.A. and Iran, said that the two countries had agreed on a roadmap to reach a final agreement to end the conflict in 60 days. Investors were worried about the threats of U.S. president Donald Trump to restart war in the Middle East. They also fretted over the announcement by Tehran that it...

Asia's crude oil imports are expected to return to pre -Iran Conflict? levels, but the flow of refined products is still constrained. Fuel prices reflect this supply stress. According to data compiled by Kpler, the world's largest energy consumer region is expected to import 22.18 millions barrels of crude per day in June. This represents an increase from 20.35million bpd imported in May. The arrivals in June are still below the 26.76m bpd average for the three months leading up to the United States' and Israel's attack on Iran, which took place on February 28. The figures are still well...

Investors assessed the progress made in ending the Middle East war after the U.S. president and Iran's president signed an interim peace agreement, but uncertainties still lingered. The text of the agreement was released by both countries. It had circulated widely prior to its publication. The agreement extends the ceasefire that was announced in April for another 60 days, allowing both sides to negotiate an end to hostilities. Donald Trump, the U.S. president, has threatened to resume his attacks on Iran and to kill Iranian officials who fail to honor their commitments. Kyle Rodda is a senior analyst for Capital.com....

The U.S. Dollar and major stock indexes gained on 'Wednesday, ahead of Kevin Warsh making his debut as Federal Reserve Chair. Oil prices also rose after doubts arose over the U.S. Iran peace deal. At the first Fed meeting, which will be chaired Warsh, the Fed is expected hold the interest rate steady. A new policy statement as well as economic projections are likely to reflect the growing concern over the inflation caused by the Iran War even after the recent peace agreement. In March, most committee members projected that they would cut rates. Adam Sarhan of 50 Park Investments,...

Oil prices dropped more than 5% Tuesday, continuing this week's losses, on hopes that a U.S. Iran deal will end the Middle East war and allow oil to flow through the Strait of Hormuz. Meanwhile, technology shares weighed on the S&P 500 & Nasdaq. The details of the U.S.-Iran interim agreement began to emerge. U.S. president Donald Trump said it would rule out Tehran acquiring a nuclear weapon, and an official from the U.S. stated that it allowed Iran to immediately sell oil after signing. Brent crude futures dropped $4.21 or 5.1% to settle at 78.96 per barrel. U.S. West...

Anna Szymanski is the Editor-in Charge of Open Interest. As markets awaited further details about the terms of the preliminary U.S. Iran deal, and looked for indications that it could?lead a meaningful increase of tanker traffic in the Strait of Hormuz, the global stock rally appeared to?moderate? on Tuesday. The Reserve Bank of Australia and Bank of Japan both kicked off the busy week for monetary policymakers on Tuesday. The BOJ announced a?quarter-point?rate?hike of 1%. This is a new high for 31 years. Below, I'll go into more detail. Listen to the Morning Bid podcast. Subscribe to the Morning Bid...

According to Department of 'Energy data released on Monday, crude oil stocks in the U.S. Strategic Petroleum Reserve have fallen to 340.3m barrels. This is the lowest level since 1983. It signals a?shortage of supplies at a time when?the u.s. Iran and the United States agree to a deal that will end the war in the Middle East and open up the Strait of Hormuz. The government's emergency stock fell by 8.9m barrels. This is the third-largest draw in history. The U.S. agreed to "loan" 172 million barrels to the facility in order to lower fuel prices which have risen...

Anna Szymanski is the Editor-in Charge of Open Interest. On?Monday, oil prices fell and global stocks rose after the United States reached a preliminary agreement with Iran. After more than three months of disruption, the memorandum of agreement should allow the?Strait of Hormuz to reopen. Donald Trump, the U.S. president and Shehbaz Sharif, the Pakistani prime minister announced that a deal was struck late Sunday night. The agreement, which is scheduled to be signed in Switzerland on Friday, leaves many questions unanswered. This may mean that market celebrations are premature. Below, I will go into more detail. Listen to the...

Kommersant reported that the Russian government had authorized a few oil refineries to produce fuels at lower environmental standards for the domestic market. This is because the country has been experiencing fuel supply disruptions. According to data collected by, media reports and social media posts have indicated that there are supply disruptions in Russia in a dozen different regions. Only two regions of Siberia, besides the Russian-held Crimea have formally?confirmed these disruptions. Last week, Deputy Prime Minister Alexander Novak requested fuel market forecasts in order to avoid problems with fuel distribution and meet domestic demand. Ukraine has been targeting Russian...

Sources in the trade said that Abu Dhabi National Oil Company sold "at least 18,000,000 barrels" of crude oil from United Arab Emirates during its third spot tender this month. ADNOC has sold at least 48,000,000 barrels of crude oil in June, according to calculations. ADNOC is also offering more volumes in a 4th?tender due to close this week. Kpler data showed that the UAE exported 101.4 million barrels of oil in January, and 95.2 millions in February before the U.S. - Iran war blocked the Strait of Hormuz. Two trade sources reported that an Indian refiner bought 2 million...

Global shares fell on Friday as U.S. negotiators and Iranian negotiators canceled peace talks. Meanwhile, the possibility of an official Japanese intervention was brewing. The yen traded near a '40-year low. The dollar is on its way to its biggest weekly gain in over a month. This was mainly due to the weakening of the yen. It has been falling for five of the six last weeks, and now trades at its lowest level since late 1986. Officials in Tokyo have warned that they are considering intervening. The MSCI All-World Index was down by 0.15% after U.S. vice president JD...

The global stock market was torn Thursday between optimism and concern over the possibility of an increase in U.S. interest rates?this coming year following the Federal Reserve meeting. The United States and Iran released their agreement on Wednesday, which extends the ceasefire that was announced in April for another 60 days. This will allow both sides to negotiate a peace. The agreement also calls for the full resume of maritime traffic in the Strait of Hormuz "without charge". Oil dropped 2.8% more to $77 per barrel. This is the lowest price since early March. Futures and shares fell in Europe,...

Ankur Banerjee gives us a look at what the future holds for European and global markets Kevin Warsh, Federal Reserve chairman, held his first press conference. He revealed an ambitious review that had broad implications and he was tacitly hawkish in his tone by highlighting the central bank's determination to bring inflation under control. Nine of the Fed’s 19 policymakers expect at least one hike in interest rates by the year 2026. Warsh did not provide a rate prediction of his own. He said that markets should price assets according to their own interpretation of the data, and not second-guess...

Anna Szymanski is the Editor-in Charge of Open Interest. As markets awaited the first meeting of the new Federal Reserve chair Kevin Warsh at the helm?of the U.S. Central Bank, global stocks were stable on Wednesday. Investors will focus on the message today as policymakers are expected to leave interest rates unchanged. Oil prices stabilized on Tuesday after falling below $80 per barrel for the first time since months, as new details about the U.S. Iran memorandum emerged. This included the possibility of lifting sanctions on Iranian oil. Below, I'll go into more detail. Listen to the Morning Bid podcast....

Two?sources who are familiar with the?matter? said that China had?issued a?second batch of 2026 import quotas. This batch is likely to be lower than the first batch issued for 'this year', as the U.S. and Israeli war against Iran has curtailed imports of petrochemical feedstock. Sources said that the second batch of quotas totaled 9.9 million tonnes (89 millions barrels) bringing the 2026 total import quota for 11 companies to 21.7million tons. One of the sources stated that PetroChina, unlike in the first batch, was not given any volume for the second batch. In the first batch, PetroChina was allocated...

Asian stocks gained modestly on Tuesday, following a rally the previous day?on news of a U.S. peace deal with Iran?. Investors also assessed a widely anticipated Bank of Japan interest rate?increase to a high of 31 years. The Nikkei rose 0.9%, to a record high of 70,000. This was after the Japanese central banks voted to raise its benchmark rate to 1%. S&P 500 futures recovered from early losses and traded flat. MSCI's broadest Asia-Pacific index outside Japan rose 0.4%. Korean shares rose 2.3%. Stocks in Hong Kong weighed down the benchmark index after China's retail sales and fixed asset...

Official data on Thursday showed that oil product inventories in Asia's main trading hub Singapore fell to their lowest level?in almost 13 years. This was due to a'sharp' decline in residual fuel stocks as the Middle East conflict continued. Enterprise Singapore's data shows that the combined onshore oil products stocks fell to 34.41 millions barrels during the week ending June 10. This is the lowest level since July 2013. The oil inventories at global storage hubs are shrinking, as Middle Eastern shipments continue to be curtailed by the U.S. - Iran?war. In the week ending June 10, inventories of residual...

Saudi Arabian crude oil sales to China will likely remain at record lows this month as the high 'prices' in the wake of the U.S. and Israeli war on Iran continue to impact demand. Market participants closely monitor the allocations as a measure of Chinese demand. They indicate that refiners are reluctant to import barrels at high prices after run cuts, and because they have exhausted their domestic stocks. Saudi Aramco will ship 12 million barrels to China customers for July loading. This is about 387.096 barrels a day. Sources'requested anonymity because they weren't authorized to speak with the media....

Hengli Petrochemical in China, which was sanctioned by the U.S. because it allegedly purchased Iranian oil, bought at least 2 million barrels of West African crude and is seeking more mainstream supply. Six people have said that Hengli is seeking to buy oil from sources not sanctioned by Washington. The company was penalised in April for buying Iranian oil and denied doing so. Hengli, a privately owned refinery that operates in Dalian (northeast China) and produces 400,000 barrels per day, inquired recently about purchasing cargoes from West Africa and non-Iranian Middle Eastern oil?for deliveries starting June, according to multiple sources....

Asian stocks dropped on Wednesday, while oil prices surged as escalating Middle East tensions unsettled the markets. Dimming hope for an end to a months-long conflict that has driven commodities higher and stoked concerns about inflation. After President Donald Trump claimed that Tehran had shot down an American Apache helicopter in Strait of Hormuz investors were on edge about a fragile ceasefire. The broadest MSCI index of Asia-Pacific stocks outside Japan fell 0.6%. The Nikkei of Japan fell by 0.9%, while the South Korean KOSPI, which is dominated by tech stocks, dropped 2%. In early trading, oil prices rose about...

The Asian stock markets tried to stabilize on Tuesday. Oil prices fell after Israel and Iran announced that they would halt their attacks against each other for the time being. Ever-hopeful investors, however, bought up the latest dip in semiconductor stocks. Analysts warned that the rebound was only a small one, with 60% of S&P 500 ending in the red over night even though the index as a whole edged upward. In early trading, share futures on Wall Street and Europe also fell. The Strait of Hormuz remains severely restricted, and higher bond yields continue to challenge equity valuations. Analysts...