Crude Oil

The yields on bonds rose, and the stock market fell Monday due to a jump in oil prices of more than 2%. This was accompanied by a return of military conflicts between the U.S. Worries about inflation are exacerbated by the resumption of military clashes between the?U.S. U.S. President Donald Trump promised to "hit them hard" on Monday after Iran launched missiles at two U.S. bases in Jordan overnight in response to an attack by the U.S. on Iran's Larak island. Brent crude futures rose by $2.39 or 2.71% to settle at $90.59 a barrel. U.S. West Texas Intermediate Crude...

?U.S. Donald Trump stated on 'Monday' that Venezuela is responsible for deciding whether or not it wants to leave the Organization of Petroleum Exporting countries (OPEC), which it has belonged to for over 60 years. "Well, I'm not sure." It's their decision. That's up to them. Washington has maintained strict 'oversight' of Venezuelan oil industry ever since U.S. troops?captured the then President Nicolás Maduro, in January. Both countries signed an oil supply agreement involving major trading houses shortly after. This allowed Venezuela to increase its crude exports to America. Trump announced on Friday a 'larger deal' for the U.S. that...

On Monday, bond yields rose and stocks fell as oil prices surged with the return of military clashes in the United States. The resumption of military clashes between the?U.S. and Iran has added to concerns about 'inflation. Donald Trump, the U.S. president was quoted as saying on Monday that he would "hit them hard". This came after Iran fired missiles at two U.S. bases in Jordan overnight in response to an attack by the U.S. on Iran's Larak island. U.S. crude climbed 2.54% to $85.51 per barrel. Brent rose to $90.34 a barrel, up by 2.54% for the day. This...

Wayne Cole gives us a look at what the future holds for European and global markets. This week began with a bang in Iran, as U.S. troops struck two missile launchers in the Strait of Hormuz on Larak Island. Meanwhile, Tehran attacked U.S. Forces in Jordan. The post by President Trump that Kharg Island was Iran's main oil port, "was being blown to smithereens" did not help, though the military had not confirmed this. It seems that Iran tried to use rockets for laying naval mines in strait. This is a challenge to U.S. Military who claimed last week they...

Oil prices fell for the first time in three weeks last Friday as investors weighed Gulf developments and awaited Kevin Warsh's potentially market-moving comments. Brent fell 0.6% to $89.2 per barrel, close to the middle of its range since mid-June. The benchmark was still on track to drop more than 5% this week. Attention is focused on an upcoming deal between Iran, Oman, and the U.S. on the management of traffic through the Strait of Hormuz. The fall in oil prices combined with the rally in technology shares after Nvidia’s results on Tuesday helped the?MSCI all country world share indices...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. Investors are focused on what Federal Reserve Chair Kevin Warsh says about inflation, and how he plans to bring it down to the target. Warsh is unlikely to meet expectations given his reluctance to provide forward guidance. But at least, markets are hoping for a more definite?reconciliation' between recent policy and inflation rhetoric. Although the steep selloff in U.S. Treasuries is now over, the yields are still well above what they were at the start of the year. This partly reflects investors' doubts...

Sources with knowledge of the negotiations said that Trump administration officials were working on a deal to secure long-term?access to a part?of Venezuela’s crude reserves. This could lower the price of crude imports. Sources said that the agreement, which may be signed soon and made public, will allow the U.S. to lock in a grouping of Venezuelan oilfields that are to be developed by American firms. They added that the U.S. would receive a guaranteed supply. One source said, "This is a real issue and it's being discussed at the highest level of the U.S. government and Venezuelan government." Separately,...

Sources familiar with the negotiations confirmed on Thursday that officials in the Trump administration are working to reach a long-term agreement to give the United States, which oversees Venezuela's oil exports, access to a part of Venezuela's crude reserves. Sources?said that the agreement, which is expected to be signed and made public soon?, would allow the U.S. Government to lock in?a group Venezuelan oilfields that will be developed by American firms, and that the supply would be?guaranteed for? the U.S. One of the sources stated that "this is real and being discussed on the highest level of the U.S. government...

Brent crude prices rose by 2.1% Thursday, ending a losing streak of three sessions, following a Wall Street Journal report that said U.S. president Donald Trump was 'not interested' in returning to the terms of an agreement reached with Iran in July. The report cited people who were familiar with the issue to say that the Trump administration had repeatedly told mediators that it was not interested in reviving June's agreement. This has complicated a flurry diplomatic efforts this past week to restart the talks. Brent crude futures ended up $1.86 or 2.1% higher at $89.70 per barrel. U.S. West...

Asia's crude oil imports in August were still far below levels before the Iran conflict began, which raises questions about how much crude actually leaves the Middle East. According to Kpler's data, the top-importing continent will see arrivals of 23,12 million barrels a day (bpd). This is a slight decrease from July, when 23.36 million bpd was recorded. Imports are also down by almost 4 million barrels per day (or 14%) from the average of 26.91 million barrels per day in the three-month period ending February. The United States and Israel launched an attack on Iran on 28 February, prompting...

The oil prices fell 2% Wednesday, adding to the previous session's losses. This was due to renewed hopes that?the Strait of Hormuz? could be reopened after Iran announced it had resumed discussions with Oman about managing this strategic waterway. Brent crude futures dropped $1.78 or 2.0% to $86.80 a barge by 0027 GMT. U.S. West Texas intermediate crude futures were also down $1.49 or 1.8% at $80.87. Both benchmarks fell more than 3% Tuesday. Mitsuru Muraishi is an analyst at Fujitomi Securities. He said that the market has continued to react to developments regarding navigation through the Strait of Hormuz...

MSCI's global equity gauge rose on Monday as investors awaited?economic data, and Nvidia financial results. Meanwhile,?bond yields fell and oil prices dropped following a U.S. The threat to extend sanctions against Iran. The yields on U.S. 30-year and 10-year bonds fell for a second day in a row as traders weighed up the implications of U.S. Treasury Sec. Scott Bessent’s decision to increase Treasury buybacks last week. Bessent warned on Monday that countries would face secondary sanctions if they did not cut financial ties to Iran as part of the "economic D-Day." Oil prices dropped to a 1-week low on...

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...

The Ministry of Economy, Trade and Industry announced on Monday that Japan's crude imports increased 17.0% from a year ago to 2.38 million barrels a day (11.72 millions kilolitres). The data revealed that Japan's domestic oil products?sales fell by?2.4% last month compared to the same period a year ago, falling to?2.16 million barrels per day. 1 kilolitre equals 6.2898 barrels The data revealed that gasoline sales fell 3.3%, to 791.233 bpd. Kerosene, however, was up 5.5%, to 54.238 bpd. Below is a table that shows Japan's July product sales, imports, and other statistics. Figures are converted from kl to bpd...

Asia's crude oil imports in August were still far below levels before the Iran conflict. This raises further questions about how much crude actually leaves the Middle East. According to Kpler's data, the top-importing continent will see an arrival of 23,12 million barrels per day (bpd) this August. This is a slight decrease from July, when 23.36 million bpd were expected. Imports have also fallen by almost?4 million bpd or 14% from the average of 26,91 million bpd for the three-month period ending in February. The United States and Israel launched an attack on Iran on 28 February, prompting Tehran...

Six months after the 'Iran War,' the world’s most powerful oil coalition, OPEC+ finds itself in a new position. It is unable to influence a marketplace it?once shaped. The war has eroded OPEC's share of the market and its ability to influence prices. The group's policy decisions and statements barely affect oil markets any more. Analysts describe the worst ever supply disruption as a major factor in balancing oil markets. OPEC+, the Organization of the Petroleum Exporting Countries (and its allies, including Russia), accounted for 40% of the global oil production in July. Calculations based on data from the International...

Iran and Oman reached an agreement over their share of the Strait of Hormuz, and its revenues. However, the waterway won't reopen if the U.S. doesn't accept their conditions. Iran and Oman held intermittent talks about the control of traffic through the Strait. The strait handled one-fifth the global oil and LNG shipments prior to the start of the war in February. Tehran and Washington both imposed separate blockades to try to gain control of the channel. This has led global energy prices up. The Strait of Hormuz is owned by Iran and Oman... After a month of negotiations, we...

Rae Wee gives us a look at what the future holds for European and global markets. The?session began in Asia with a muted tone, as stocks drifted ahead of Nvidia’s upcoming?earnings, where high expectations are being placed on the artificial intelligence darling. Alibaba's $10.2 billion sale of shares at a steeply discounted price to fund its AI plans and Samsung Electronics disappointing shareholder-return program in the previous session weighed on technology shares. A roughly 45% drop in?the share price of Unitree after a five-fold increase on its Shanghai debut triggered concerns over bubble risk, retail investors losses, and flaws within...

Ryosei Akazawa, Minister of Economy, Trade, and Industry, said that Japan will not release any more crude oil in September or October. He said that the amount of crude oil purchased in September will be about 80% less than the average monthly volume last year. This is because tankers which would normally travel through the Bab el-Mandeb Strait, are now being rerouted to the 'longer Suez route. Akazawa, a Japanese?press officer, said that Japan expects the August purchase to be the same as last year, but the September?volumes are expected to decline. This is because shipments via Suez take 55...

Scott Bessent, U.S. Treasury secretary, invoked the 1944 D-Day landings of Allied forces in?France when announcing sanctions against Iran. The measures taken are superior to the much less successful Anzio Beachhead landing in Italy, which was another amphibious landing during World War II. Anzio was a battle that began with a successful landing of the Allies, but a lack of leadership led to the campaign stalling and turning into a long campaign of attrition. Bessent’s new measures are designed to choke Iran economically. They target companies and countries that do business with Iran in five different sectors: digital assets, technology...

Wayne Cole gives us a look at what the future holds for European and global markets. Investors are awaiting details about President Trump's economic 'war' on Iran. This has led to a nervous start for the Asian markets. The main move was a drop of 1.5% in the oil price. Treasury Secretary Scott Bessent will hold a press briefing at 2 pm EST (1800 GMT) on Wednesday to announce even more severe economic sanctions against a country which has been subjected to near-continuous sanctions since 1979's Islamic Revolution. Trump said that sanctions would also be imposed on any country that...

Investors began to question the effectiveness of the Treasury's support on Thursday, as bond prices slid and stocks were under pressure. The yield on the 30-year U.S. Government Bond rose by 3.05 basis points, to 5.2235%. It had fallen to 5.1765% a day earlier. This was after the Treasury announced that it would buy back additional longer-dated bonds. Prices and yields are inversely related. The bond market was closely watching the moves to see if they were able to stop a downturn that had sent shockwaves through multiple asset classes. The MSCI global stock index fell for four straight sessions,...

Rae Wee gives us a look at what the European and global markets will be like today. The markets were calmer on Thursday after the U.S. Treasury put a stop to an ugly bond selloff that occurred this week. However, the respite could be short-lived. U.S. - Treasury yields in Asia were stable, while Japanese government bonds yields dropped after the U.S. Treasury announced that it would double the buyback size for 10- to 30 year Treasury debt securities up to at least 4 billion dollars per operation. Scott Bessent, the U.S. Treasury secretary, intervened again in the currency markets...