Crude Oil








Asia

North America

Energy Markets

US dollar falls as shares rise on hopes of trade between China and the US

The European stock market indexes rose on Friday on the back of signs of progress in U.S. China trade talks. Meanwhile, the dollar fell to its lowest level in over three years. The global stock markets reached record highs in the past week as traders gained confidence following a ceasefire agreement between Iran and Israel, and markets increased bets on U.S. interest rate cuts. Markets also viewed the U.S.-China agreement on rare earth shipment expediting to the U.S. on Thursday as a positive development, in the midst of efforts to end the trade war between the two largest economies. Early...

Energy Markets

The biggest weekly drop in oil prices since two years is expected as the war premium disappears

The oil price fell to its lowest weekly level since March 2023, Friday, due to the lack of supply disruption caused by the Iran-Israel conflict. Brent crude futures gained 35 cents or 0.52% to $68.08 a barge by 0429 GMT, while U.S. West Texas intermediate crude rose 40 cents or 0.61% to $65.64. Both contracts are now on track for a weekly decline of around 12%. The benchmarks have now returned to the level they were before Israel began the conflict on June 13 by firing missiles against Iranian military and nucleonic targets. Prices reached a five-month-high after the U.S....

Crude Oil

Weekly oil loss due to fading Mideast supply risk

The price of oil is expected to drop this week as the Iran-Israel ceasefire holds and eases concerns about Middle East supply risk. However, prices increased on Friday due to the summer driving season in the United States. Brent crude futures were up 34 cents or 0.5% to $68.07 per barrel at 0111 GMT. U.S. West Texas Intermediate Crude gained 33 cents or 0.51% to $65.57 per barrel. The benchmarks had been set to drop about 12% in a week. Tuesday, oil futures fell to their lowest level in over a week after U.S. president Donald Trump announced that a...

Energy Markets

Nour News reports that the damaged unit of Iran's South Pars Refinery is now back in operation.

Nour News, the Iranian state news agency, reported that a damaged unit of South Pars refinery Phase 14 has been returned to service. Israel had struck the refinery in its first attack on Iran's oil sector. South Pars is the largest gas field in the world. It is located off the coast of Iran's Bushehr Province, which is the southernmost province. This gas field is responsible for a large part of the gas produced by the country. Iran is the third largest gas producer in the world after the United States of America and Russia. The agency said that gas...

Crude Oil

EIA: US crude and fuel inventory falls due to higher demand

Energy Information Administration (EIA), a government agency, reported on Wednesday that crude oil and fuel stocks in the United States fell last week due to increased refining and demand. The EIA reported that crude inventories dropped by 5.8 millions barrels, to 415.1 million in the week ended June 20. This was more than analysts expected in a poll. The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 464,000 barils in the past week. This week's report is all about supply and demand. The market is likely to stabilize following all of the geopolitical news reports if...

Energy Markets

Investors' reactions after Trump announces ceasefire between Iran & Israel

Donald Trump, the U.S. president, said that on Monday a "completely and totally" ceasefire will be implemented between Israel and Iran in order to end the conflict between these two nations. Trump wrote about his Truth Social website that "I would like to congratulate Israel and Iran on their stamina, courage, and intelligence to put an end to what we should call, 'THE 12-DAY WAR.'" After Trump's announcement that came after Wall Street closed trading, U.S. crude oil futures fell. S&P 500 futures rose slightly after trading resumed. Comments JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS, PALM BEACH, FLORIDA...

Energy Markets

U.S. officials warn that Iran could soon retaliate against U.S. troops.

Two U.S. officials stated on Monday that the United States believes Iran will soon launch a retaliatory attack against American forces in the Middle East, but the U.S. still seeks a diplomatic solution whereby Tehran would refrain from any attacks. Unnamed officials who discussed the assessment under condition of anonymity said that Iran's retaliatory strike could occur within the next two days. Iran has threatened retaliation after the U.S. bombed their nuclear sites on the weekend. U.S. officials warned Iran not to retaliate against the U.S. President Donald Trump stated after the strikes that any retaliation from Iran against the...

Energy Markets

Saudi Arabian crude exports rose to 6,166 mln Bpd in April

Official data released on Monday showed that Saudi Arabian crude oil exports rose in April to 6,166 million barrels a day (bpd), up from 5.754 millions bpd. The crude oil output of the world's biggest oil exporter for April increased from 8,957 million to 9.005 millions bpd. The data revealed that the crude oil throughput of Saudi refineries was 2.704 million barrels per day (bpd) in April. This is down by 0.24 million barrels per day from March's figure of 2.944. In April, the direct crude burn decreased by 6,000 barrels per day to 377,000 barrels per day. JODI publishes...

Crude Oil

Oil reaches five-month high following US strikes on key Iranian nuclear sites

The oil prices rose on Monday, reaching their highest level since January. This was due to the supply concerns caused by Washington's decision to attack Iran's nuclear sites with Israel. Brent crude futures were up $1.88, or 2.44%, at $78.89 per barrel as of 1122 GMT. U.S. West Texas Intermediate Crude advanced $1.87, or 2.53% to $75.71. The two contracts had risen by over 3% in the previous session, to respective highs of $81.40 and $79.40 (five-month highs), before reversing some gains. Prices rose after U.S. president Donald Trump announced that he had "obliterated", Iran's nuclear sites with strikes last...

Energy Markets

Oil prices to rise as US strikes against Iran increase supply risk premium

Market analysts say that oil is expected to increase by $3-5 per barrel when trading resumes Sunday evening, after the U.S. launched an attack on Iran over the weekend. Gains are only expected to accelerate if Iran responds harshly and disrupts the supply of oil. Donald Trump, the U.S. president, said that he "obliterated", Iran's nuclear sites with overnight strikes. He joined an Israeli assault on an escalation in conflict in the Middle East. Tehran pledged to defend itself. Iran is OPEC’s third largest crude producer. Jorge Leon, former OPEC official and head of Rystad's geopolitical research, said that a...

Crude Oil

Oil prices to rise as US strikes against Iran increase supply risk premium

Market analysts say that oil is expected to increase by $3-5 a barrel on Sunday night after the U.S. launched an attack against Iran over the weekend. Gains are only expected to accelerate if Iran responds harshly and disrupts the supply of oil. Donald Trump, the U.S. president, said that he "obliterated", Iran's nuclear sites with overnight strikes. He joined an Israeli assault on a Middle East conflict in an escalation as Tehran pledged to defend itself. Iran is OPEC’s third largest crude producer. SEB analyst Ole Hvalbye wrote in a report that Brent crude, the global benchmark for oil...

Crude Oil

Investors rush to safe havens as oil prices spike after US bombs Iran's nuclear sites

Investors said that a U.S. strike on Iranian nuclear sites could trigger a knee-jerk response in global markets upon their reopening, sending oil costs higher and triggering an exodus to safety. They were assessing how this latest escalation would affect the global economy. The attack announced by Donald Trump via the social media website Truth Social deepens U.S. participation in the Middle East conflict. Investors were considering a variety of market scenarios as they headed into the weekend. They expected that the U.S. involvement would cause a selloff of equities, and possibly a bid for the dollar or other safe-haven...

Europe

Crude Oil

The Russian rouble is flat against the US dollar following central bank's announcement of forex sales

On Friday, the Russian rouble was flat against the U.S. Dollar and slightly lower against Chinese Yuan after the central bank decided to increase its forex purchases in the second half. According to LSEG, based on quotes over the counter, by 1335 GMT the rouble was trading at 78.37 US dollars. Since the beginning of the year, the Russian currency has gained 45% on the dollar. The Russian central banks announced on June 26th that they will increase their foreign currency sales from 8.86 billion to 8.94 billion (113.53 millions) per day for the remainder of the year. Analysts at...

Energy Markets

Dollar weakens but shares rise as Fed's independence is threatened

Asia shares reached their highest level in over three years on Friday, as they followed a Wall Street rally. However, the dollar suffered on fears about the Federal Reserve’s independence and on expectations of early rate cuts. The stock indexes around the world are expected to close the week in a positive manner, as worries over tensions in the Middle East along with uncertainty about tariffs and trade agreements have been put on hold for the time being. Early in the session, MSCI's broadest Asia-Pacific share index outside Japan reached its highest level since November 20, 21. It was last...

Crude Oil

Demand for crude oil is strong as the drawdown of US crude stocks signals a rise in prices

Oil prices edged higher on Thursday, continuing gains made the day before, as an unexpectedly large drawdown in U.S. crude inventories signaled a strong demand. Investors, however, were cautious due to the Iran-Israel ceasefire, and the stability of the Middle East. Brent crude futures were up 15 cents or 0.2% to $67.83 per barrel at 0330 GMT. U.S. West Texas Intermediate crude (WTI), gained 20 cents or 0.3% to $65.12 per barrel. The benchmarks both rose by nearly 1% Wednesday after recovering from losses in the first part of the week. This was due to data showing a resilient U.S....

Western Europe

East Asia

Energy Markets

China's Iran Oil Imports Surge in June due to a rise in shipments and teapot demand

Analysts said that China's imports of Iranian oil surged in June, as shipments increased before the recent conflict and the demand from independent refineries improved. According to data from ship-tracking firm Vortexa's, the world's largest oil importer, and biggest buyer, of Iranian crude, imported more than 1.8 millions barrels per day between June 1-20. This is a new record. Kpler data puts the average month-to date of China's Iranian condensate and oil imports to 1.46 million barrels per day as of June 27. This is up from 1 million barrels per day in May. Kpler data revealed that the rise...

Crude Oil

Stocks extend record run despite Fed pressures as dollar falls to 3-year low

The dollar fell to its lowest level in three years, while the world stock market reached its second record high within three days after a report that Donald Trump planned to select the next Federal Reserve Chief early fueled fresh bets about U.S. interest rate cuts. Dollar selling continued as U.S. trade picked up after Wall Street Journal reported that the U.S. President - who had been urging Fed to reduce rates faster – was toying with idea of choosing Chair Jerome Powell’s successor in the next few month before his formal departure in May. The greenback was down by...

Oil Refineries

Russell: Higher prices will affect Asia's crude imports in June.

Asia's crude oil imports rose in the first six months of 2025, as an increase in arrivals in June overcame the slow start of the year. According to LSEG Oil Research, the world's largest import region has seen arrivals of 27,36 million barrels a day (bpd), up by 620,000 bpd compared to the 26,74 million bpd of the same period in last year. The performance improvement was primarily due to the fact that June imports soared from 27.3 million bpd and 26.42 millions bpd last June, respectively. This is the highest LSEG data recorded since January 2023. China was the...

Crude Oil

Russell: Higher prices will affect Asia's crude imports in June.

Asia's crude oil imports rose in the first six months of 2025, as an increase in arrivals in June overcame the slow start of the year. According to LSEG Oil Research, the world's largest import region has seen arrivals of 27,36 million barrels a day (bpd), up by 620,000 bpd compared to the 26,74 million bpd of the same period in last year. The performance improvement was mainly due to the fact that June imports soared up to 28,65 million bpd. This is the highest LSEG data recorded since January 2023, and a significant increase from 27.3 millions bpd and...

Energy Markets

Asia markets stabilize, dollar drops following Middle East truce

The Asian stock market stabilized on Wednesday, as crude oil hovered at multi-week lows. A ceasefire between Israel & Iran boosted sentiment even though hostilities were threatening to flare up. As oil prices fell, the bond market was less exposed to inflation. Israel has said it will take strong action against Iranian missile attacks that followed after U.S. president Donald Trump announced the end of hostilities. According to an initial U.S. Intelligence Assessment, the U.S. airstrikes didn't destroy Iran's nucleonic capability, but only pushed it back a few months. This contradicts Trump's previous comments that Iran’s nuclear program had been...

Energy Markets

Investors ponder Iran risks as they wiggle between oil and shares

Investors awaited a possible Iranian retaliation following U.S. strikes on Iran's nuclear sites. The fallout could have a negative impact on global trade and inflation. The markets remained calm, with the dollar receiving a modest bid as a safe-haven and no signs of a rush towards bonds. Oil prices rose just 0.4% after having risen as high as 5.7% overnight. Paul Jackson, Invesco’s global head for asset allocation research said: "If you keep your head while others around you lose theirs, you may not understand the situation." He said that time would tell whether a lack in market reaction was...

Energy Markets

Now the ball is on Iran's court.

Wayne Cole gives us a look at what the future holds for European and global markets. Trump is adding to the uncertainty of the world by involving the United States in yet another Middle East conflict. The word "bombs", or the announcement of an attack by a president on social media is not something that happens very often. The U.S. government says that it is not at war, and will not escalate its actions if Iran achieves peace. It also claimed it did not aim to change the regime in Iran until Trump made a post on social media about...

Crude Oil

Oil plunges and stocks rise after Trump Middle East pause

The stock markets rose on Friday, while oil was headed for its largest daily drop since April as President Donald Trump delayed a decision about U.S. involvement in the Israel/Iran conflict. This week, the Middle East has again been a major factor in the top world indexes. The main European bourses all rose between 0.5%-1.4% after similar gains in Asia. However, it was still unclear whether this would be enough for MSCI to avoid a second consecutive weekly loss. Israel bombed Iranian targets and Iran fired missiles against Israel overnight, as the war that has been going on for a...

Crude Oil

Oil prices fall, but stocks rise after Trump's Middle East pause

The stock markets rose on Friday, while oil was close to its largest daily decline since April as President Donald Trump delayed a decision about U.S. involvement in the Israel/Iran conflict. This week, the Middle East has again been a major factor in the top world indexes. All of Europe's major bourses rose between 0.5% and 1% following similar gains in Asia. However, it was still up for grabs whether this would be enough to stop MSCI's world index from suffering a second consecutive weekly loss. Israel bombed Iranian targets and Iran fired missiles against Israel overnight, as the war...

Crude Oil

Brent falls as Trump considers military action against Iran

Asian shares rose on Friday, as investors were relieved that the threat of an imminent U.S. strike on Iran had been averted for the time being. This weighed on Brent oil and dollar prices. Israel has bombed Iranian nuclear targets overnight, while Iran has fired missiles and drones towards Israel. The war, which began a week ago, is intensifying, with neither side showing any signs of an end. The White House announced that President Donald Trump would decide within the next two week whether or not the U.S. is going to get involved in Israel-Iran conflict. Some of the MAGA...

Oil & Gas

Trackers report that Iran has adapted to maintaining oil exports in conflict.

Two vessel tracking companies said that Iran maintains crude oil supplies by loading tanks one at atime and moving floating storage closer to China. The country is trying to keep its main source of income while being attacked by Israel. The conflict that erupted between Iran and Israel last week is a new obstacle for Iran. It uses a fleet of shadow tankers to hide their origins and avoid U.S. sanctions imposed in 2018 due to its nuclear program. Iran is the third largest producer of crude oil in OPEC. Most of its exports go to China. The trackers reported...

Crude Oil

Japan re-signs long-term LNG contracts on AI boom and national energy plan

The emergence of artificial intelligence and the rising cost of cleaner energy, combined with a new energy plan and the rise in costs for cleaner energy, has brought Japan back into the limelight for LNG producers. Japan, which is the second largest LNG importer in the world, has secured long-term deals with Qatar, and other buyers are also securing such agreements. Japan's LNG exports have been falling for over a decade, as the nuclear power plants that were idled following the Fukushima catastrophe began to operate again and renewable energy sources grew. The AI boom will require enormous power consumption...