Crude Oil

Brent crude oil prices for second-month delivery traded higher than the price for immediate delivery on Wednesday for the first since the start of the Iran war in late February. This signals an 'increased supply near-term. Brent crude oil, the global benchmark traded 12 cents more for contracts with September delivery than those with August deliveries, suggesting the market has priced in a large supply of crude in the near-term. We have the 'prospect of a rush of physical supply coming out of the Arab Gulf. Neil Crosby is the head of Sparta Commodities' research. "We are currently in a...

On Wednesday, oil prices dropped more than 1%, continuing this week's losses and trading at near four-month highs. This is on signs that more oil tanks stranded in the Gulf will be moving out of the Strait of Hormuz. Brent crude futures were down 78 cents or 1.0% at $76.30 per barrel as of 3:50 GMT. U.S. West Texas Intermediate fell 78 cents or 1.1% to $72.43 a barrel. On Tuesday, both benchmarks fell by around 1% and reached their lowest levels since March. Positive signals from the Persian Gulf are fueling optimism regarding oil flow through the Strait of...

Investors were looking for more clear signs of progress regarding the restoration of crude flow through the Strait of Hormuz following the U.S. Iran peace talks. Brent crude 'futures' fell 20 cents or 0.3% to $77.70 per barrel. U.S. West Texas Intermediate dropped to $73.74 per barrel, down by 12 cents or 0.2% as of 0323 GMT. Prices dropped more than 3% after the United States granted Iran 60-days of sanctions waiver following the initial peace talks. Officials also reported a lull between hostilities and the wider agreement in Lebanon. The gradual increase in oil flow through the Strait of...

Tuesday, oil prices recovered after a sharp drop the previous session. This was supported by a tempered optimism about the U.S.-Iran Peace Talks. Investors awaited more clear signs of progress on restoring crude flow through the 'Strait Of Hormuz. Brent crude futures rose 24 cents or 0.38% to $78.15 per barrel. U.S. West Texas Intermediate was up 33 cents or 0.46% at 0026 GMT. Prices dropped more than 3% after the United States granted Iran 60 days of sanctions relief following initial peace talks. Officials also reported that the hostilities had ceased in Lebanon as a result of the wider...

As expectations for a rise in interest rates pushed up U.S. Treasury Yields, global stocks were mostly flat Monday. Oil prices fell as optimism about progress?in U.S.Iran talks was offset. U.S. Vice-President JD Vance stated in Switzerland that Iran has agreed to let nuclear inspectors enter the country. The conversations about the inspections could begin as early as this week. Treasury Department of the United States authorized Iranian crude oil, petrochemicals and petroleum products sales through August 21. This eases decades-old sanctions as the United States moves toward a final deal with Iran in exchange for nuclear inspections and a...

The U.S. Energy Department announced on Monday that a single energy 'firm' had borrowed 500,000 barrels of crude oil, or 1.25% of all the barrels available in the latest allocation under the Trump Administration's efforts to reduce fuel prices. In March, the Trump administration released 172 million barrels of oil from the SPR as part of a coordinated effort with the International Energy Agency. The goal was to reduce fuel prices which spiked following the U.S. and Israeli war against Iran that began on February 28. U.S. has so far granted contracts for the loan of approximately 133 million barrels....

The?stocks of crude oil in the United States have fallen to their lowest level since June 1983. The Strategic Petroleum Reserve dropped to 331.2 million 'barrels' last week. This is the lowest level since June 1983, according data from the Department of Energy. Supplies continued to tighten as a result of the U.S. - Iran war. The government's emergency stock fell by 9.05?barrels. This is the third-largest draw ever recorded. The drawdowns were a part of an agreement between the U.S. and Canada to release 172 millions barrels from the facility in order to lower fuel prices. U.S. crude oil...

The dollar rose on Monday, as the first round U.S.-Iran negotiations boosted?optimism about a possible peace deal. Meanwhile, the pound gained in choppy trade after British 'Prime Minister Keir?Starmer announced his resignation. JD Vance, the U.S. vice president, said that talks with Iranian officials held in Switzerland laid "a good foundation" for an eventual peace agreement despite tensions surrounding the Strait of Hormuz. U.S. crude dropped 2.61%, to $74.60 per barrel. Brent was down to $77.98 a barrel, a 3.21% drop on the day. However, the declines were kept in check by threats made by U.S. president Donald Trump to...

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...

The stock market rebounded Wednesday, despite a drop in technology stocks. This was partly due to concerns over stretched valuations. Meanwhile, the dollar reached a new high. The technology stocks that were hard hit on Tuesday started to rise ahead of Micron's earnings, whose chips are a key component in the AI boom. Investors priced in at minimum one rate increase from the Federal Reserve for this year, but sentiment was still fragile. All three Wall Street indexes rose, with gains driven by consumer discretionary, materials and industrial stocks. The biggest losers were energy stocks as the flow of crude...

On Wednesday, Asian stocks struggled to find direction as 'crude oil' prices continued their declines near a?four-month low. Analysts warned of renewed volatility due to the stretched AI valuations. MSCI's broadest Asia-Pacific share index outside Japan closed up 0.4%, after swinging between gains and losses. South Korean shares, that plunged 10% in Tuesday's sharpest drop since March, rallied by 3.5%. Japan's Nikkei fell 0.4%, and Taiwan stocks lost 1,9%. Michael McCarthy, a market analyst with Moomoo Securities Australia, said that the price action on markets in the past seven trading days has been alarming. Not only when it fell, but...

Analysts warned about the possibility of a new bout of volatility after the?day-long global selloff? in technology and semiconductor stocks. MSCI's broadest Asia-Pacific share index outside Japan fell 0.02%. South Korean shares, that plunged 10% in one day, their biggest drop since March, rose 2.2%. Japan's Nikkei fluctuated between gains and losses. It was last down 0.8%. Michael McCarthy, a market analyst with Moomoo Securities Australia, said that the price action on markets in the past seven days was alarming. Not only when it fell, but also when it rose. When markets are moving so quickly, either in one direction...

After the Iran conflict, when oil flows were disrupted and costs rose, India began to buy Russian coal and crude oil to boost its energy supplies. According to Kpler, commodity analysts, the world's third largest oil importer will see Russian crude arrivals surge to a new record of 2,55 million barrels a day (bpd). The imports of Russian goods in June?would have been higher than the 2.13million bpd recorded in May. This was?the?third-highest record, and only behind the 2.16million bpd registered for May 2023. In June, Russia's share will be slightly less than 50% of India's total crude oil imports...

What's important in U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets Big Tech began the week on a downhill slope, with Alphabet and Amazon each falling around 5%, due to a combination of worries: rising debt, interest rate expectations, and lofty AI expenditure. Even SpaceX, who began debt-raising plans 'of their own on Monday, clocked a loss of 16%. Below, I'll go into more detail. Check out my most recent column about why Britain's new government must deliver or risk further political instability and economic woe. Listen to the most recent episode of Morning Bid's...

After the U.S. lifted sanctions against?Iran on Tuesday, oil prices rose and traders were concerned that the Federal Reserve might take more aggressive measures to combat inflation in the second half of the year. S&P 500 futures and MSCI's broadest Asia-Pacific index outside Japan both fell by 0.5%. Brent crude rose 0.2% to $78.03 a barrel. The Nikkei was down 0.6%. This is a reversal of some losses. Data showed that Japan's manufacturing industry experienced robust growth in the month of June. New orders surged at their highest rate in over four years. South Korean stocks fluctuated between gains, losses,...

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...