United States

U.S. Secretary of Energy Chris Wright announced on Wednesday that the U.S. would release 172,000,000?barrels?of oil?from its strategic 'petroleum -reserve? in an effort to lower oil prices, which have soared because of supply shocks caused by the U.S. and Israeli war against Iran. Wright said that the'release' is part of the 400 million barrels of oil released by the International Energy Agency earlier in the day. Wright stated that the release of the film will start next week, and it will take?about 120 days for delivery. On February 28, the U.S., Israel and other countries began to attack Iran. Iran...

Even if the Iran War ends soon, U.S. oil prices will be structurally higher this year. Investors may have to reconsider their optimistic 2026 earnings estimates. The consensus oil outlook for 2026 was quite bearish while Wall Street's earnings forecasts were very optimistic. This has not changed. According to LSEG 'data, the full-year earnings growth estimate for 2026 was nearly 16% as of?Friday. This is up from 14% a year ago and 12% a year before. These 'rosy forecasts' assume that oil prices will average $60 per barrel this year, but those expectations have disappeared with the U.S. and Israeli...

According to three sources, the commodity trader Mercuria intends to remove large volumes of aluminum from LME storage facilities, as the closure of the Strait of Hormuz has 'frozen' Middle East shipments, and put further pressure on supplies in Europe, and the United States. Around 9% of global primary aluminium is produced in the Middle East. Since last week, the U.S. and Israeli war on Iran has closed the Strait of Hormuz. Mercuria, a Swiss company, cancelled or designated for delivery on Monday nearly 100,000 tons?of aluminium in LME-approved Port Klang warehouses. The sources who are familiar with the issue...

Investors might need to reconsider their optimistic 2026 earnings estimates for U.S. corporations, even if Iran's war is over soon. The consensus forecast for 2026 for oil was a bit bearish while Wall Street's earnings predictions were surprisingly optimistic. This has not changed. According to LSEG data as of Friday, the full-year earnings growth estimate for 2026 was nearly 16%. This is up from 14% in 2017 and 12% last year. Those rosy forecasts assumed an average 'oil price' this?year of $60 per barrel – an expectation that vanished into thin air when the U.S. and Israeli strikes on Iran...

The price of British government bonds?fell dramatically in early trade on Tuesday, as the markets questioned if the plans for a record releasing?of oil reserve could offset any potential supply shocks resulting from the U.S. and Israeli war against Iran. As of 0906 GMT the short-dated gilt yields were up around 12 basis points, completely erasing Tuesday's large drops. Investors have also reduced their bets for a Bank of England rate cut in this year. The probability is now?roughly 20 percent, down from 50 percent a day ago. The British public is more vulnerable to a shock in energy prices...

Indian benchmark shares fell Wednesday - after a recovery in the previous session - as investors were uncertain about the impact of the Middle East War on inflation and growth. Oil prices were also fluctuating. As of 10:40 a.m. IST, the Nifty?50 dropped 0.7% to 24,087 while the BSE Sensex fell 0.8% to 77.556.77. In early trading, the indexes were unchanged. Devarsh Vakil is the head of Prime Research for HDFC Securities. He said: "There's still considerable geopolitical unrest and that's why markets are on edge." Israel and the United States launched what some have described as the war’s most...

Investors bought down stocks and worries about oil supplies due to the Middle East conflict were eased. The Nikkei rose 2.3% as of 0220 GMT to 55,512.21, while the Topix increased 1.8% to 3,513.66. Naoki Fukuwara, Shinkin Asset Management's senior fund manager, said that investors were buying at lower prices, especially in areas that had been heavily sold off and where there are signs of a rebound. Price action has also been strong. Artificial intelligence-related shares, which suffered a heavy loss on Monday due to pessimism about the U.S. and Israeli war against Iran, were the top performers of the...

The Wall Street Journal, citing sources familiar with the issue, reported that the 'International Energy Agency' has proposed the 'largest release in oil reserves history to lower a soaring crude price? due to the U.S./Israel war against Iran. WSJ reported that the release of oil would be greater than the 182,000,000 barrels?of crude oil that IEA members countries released in two releases in 2022, when Russia began its full-scale 'invasion' of Ukraine. The Wall Street Journal reported that the IEA will convene an extraordinary meeting with its member states 'on Tuesday. They are expected to 'decide on the proposal -...

Karoline Leavitt, White House Press Secretary, said on Tuesday that the American public would see oil and gas prices fall rapidly once the joint Israeli-U.S. war against Iran is fully accomplished. Leavitt told reporters that the increase in gas and oil prices was temporary and the operation would result in lower prices over the long-term. Prices of oil on Monday soared to $119 per barrel, their highest level?since June 20, 2022. Supply cuts by Saudi Arabia and other producers have stoked concerns about major disruptions in global supply. Leavitt said that Trump's energy team was closely monitoring the markets and...

Exxon Mobil wants to abandon its corporate registrations in New Jersey and relocate in Texas, where its "headquarters" is located. This move could strengthen its defenses against climate activists and activist shareholders. Exxon made the announcement in a proxy file. If shareholders approve the move, Exxon will become the latest high-profile company to register in Texas, joining SpaceX, Tesla, and Coinbase. A new Texas law improved legal protections for business through several mechanisms. This included reducing shareholder litigation threats by allowing businesses to set stock ownership levels for lawsuits. The company stated in a filing that "the Board believes Texas...

'Britain and its allies are working on a variety of options to support commercial shipping in the Strait of Hormuz despite iranian threats. The spokesman for Prime Minister Keir 'Starmer said that Tuesday, as the U.S. - Israel war against Iran is roiling oil prices. Donald Trump, the U.S. president, has said that the war will end "soon." He also stated that the U.S. would escalate its attack if Iran attempted to block tanker traffic in the Strait of Hormuz. Downing Street read out a statement after speaking with the leaders of Germany, Italy and France late on Monday. They...

Each financial market crisis differs, but they all rhyme. Parallels are emerging between the 'tremors' now rippling across private credit and the subprime housing in the U.S. that led to 2007-09 Global Financial Crisis. It's not to say that a replay of the historic crash is imminent. There is a growing danger that the increasing stress in the private credit market - i.e., the lack of liquidity, the opaque pricing and the soaring redemptions – could spill?over into the public markets. BlackRock, with its $14 trillion in assets under management, announced?on? Friday that it had limited withdrawals after an influx...

Donald Trump hoped to reassure Americans on a visit to Kentucky and Ohio, Wednesday, that the rising prices of 'gasoline' were temporary. Republican colleagues worried that these increases were causing voter anxiety over the economy. Trump's first campaign trip since the U.S. and Israeli military operation against Iran began on February 28, was a successful one. He could use the trip to hone his economic message, and highlight his achievements ahead of the midterm elections in November. His fellow Republicans are defending a narrow?majority in both chambers of Congress. Trump's first remarks at his stop in Cincinnati, Ohio were centered...

Oil prices dropped sharply on Tuesday after U.S. president Donald Trump predicted that the Iran War could be over soon. Dealers stated that the market was focused on the degree to which high energy costs could reduce sugar production in Brazil, where mills are able to adjust their factories to produce more sugar or ethanol depending on the market price for each. The ICE exchange's raw sugar price?futures settled at 14.38 cents per lb after dropping nearly 3% earlier, while the white sugar futures dropped?0.5%, to $418.40 a metric tonne. Petrobras is Brazil's state controlled oil company. It supplies around...

The U.S. and Israel war against?Iran is likely to hit consumers hard across the United States' economic spectrum. This could undermine a key component of the economy that was?expected? to boom this year due in part because of a hefty income tax refund, low unemployment and rising asset prices. Analysts felt that both "spurs", of the U.S.'so-called K-shaped economic model, could maintain or even increase spending in the upcoming months. Wealth effects would lead better-off families and service industry workers to spend more, while windfall tax refunds due to 'new exemptions on overtime and tip income, helped hourly workers. Both...

Chicago Mercantile Exchange feeder cattle and live cattle futures declined?on Monday, as rising gasoline and a'stock market decline' stoked broader concerns and fueled fears about?consumer expenditure on beef. Managed funds exited their long positions for the?second straight day and technical selling has accelerated the decline of the market as actively traded contracts have fallen below recent lows, and broken through key technical chart resistance levels. The feeder cattle market was further impacted by the high feed corn prices. Since the U.S. President Donald Trump, and his allies in Israel, attacked Iran over a week ago, the markets, including commodities, are...

Indonesia's Finance Minister?said? on Monday that the country will absorb the shock of a rise in oil prices by increasing the allocation to fuel subsidies and using the state budget. Indonesia has budgeted 381.3 billion rupiah (22.50billion dollars) for energy subsides and to compensate Pertamina, the state energy company and PLN, the utility company for their efforts to maintain some fuel and electricity prices at an affordable level. The budget is based on assumptions that Indonesian crude oil prices will average $70 per barrel in 2026 and the average rupiah rate of exchange for dollars will be 16,500. Oil prices...

South Korean President Lee Jae Myung announced on Monday that the government would cap domestic gasoline prices for the first time in nearly 30 years to contain a price spike after the Middle East conflict sent global crude oil prices sharply higher. At an emergency meeting to discuss the Middle East Crisis, Lee stated that the government would "boldly and swiftly" implement a maximum pricing system on petroleum products which have seen recent price increases. In his opening remarks, Lee stated that the current crisis is "a significant burden" on our economy which is heavily dependent on global trade as...

On Sunday, Trump administration officials defended the 'decision' to temporarily lift sanctions on Russian oil and predicted that gasoline prices would spike sharply in response to the Iran War. Chris Wright, the Energy Secretary of the United States and U.S. The Ambassador to the United Nations Mike Waltz stated that a waiver granted last week allowing Indians to purchase Russian oil will ease pressure on the global markets. Waltz told NBC's 'Meet 'the Press' that the 30-day pause would allow millions of barrels of crude oil, sitting on ships, to be sent to Indian refineries. Wright said on CNN's "State...

U.S. Crude Futures increased more than 20% during early trading on Monday. They reached their highest level since July 2022, due to the escalating U.S. - Israeli 'war with iran. As of 2220 GMT, U.S. West Texas Intermediate crude futures were up as much as $20.34 per barrel and were $14.83 or 16.31% higher at $105.73. The price of WTI crude futures rose by as much as $22.4%, to $111.24 in the early part of the session. The benchmark contract rose 12% on the Friday, and it has gained 36% in the last week. Iran named Mojtaba Khamenei, the son...

A government order revealed that India has invoked emergency powers to increase production of LPG in order to prevent a shortage after supply disruptions caused by the Middle East Crisis. Last year, the world's second largest importer of LPG consumed 33.15 millions metric tons of LPG. This is a mixture between propane and butane. About two-thirds (or 85-90%) of LPG is imported, and most of it comes from the Middle East. The order, issued late Thursday night, asked all oil refiners to "maximise their propane and butane supplies and use them for the production of LPG". The government has asked...

A senior White House official stated that the U.S. Treasury Department will announce measures to combat 'rising energy prices' as early as Thursday. This could include potential actions involving the oil 'futures market. Washington's potential move would be an unusual attempt to influence energy costs through financial markets, rather than through physical oil supplies. Officials are racing to reduce the political and economic impact of rising fuel prices. The global oil price has risen by 16% as the conflict in the Middle East continues to spread. According to AAA, the U.S. travel agency that tracks fuel prices, the national average...

The price of heavy crude oil produced in Americas reached multi-year-highs on Wednesday as a result of the U.S. and Israeli attacks against Iran, which slowed down the exports similar oil produced elsewhere in the Middle East. Brent crude is at its highest level since January 2025, and benchmark crude oil has surged ever since the first attacks last week. Iran has threatened that it will fire at any vessel passing through the'shipping lanes' of the Strait of Hormuz near its southern coast as a retaliation to the U.S. and Israeli attacks. This has effectively shut down the Strait of...

The price of oil rose by more than $1 Wednesday, as the U.S. and Israeli war on Iran disrupted Middle East production and stopped exports from the region. Brent rose $1.11 or 1.4% to $82.53 per barrel after Tuesday's closing price at its highest level since January 2025. U.S. West Texas Intermediate Crude rose by 79 cents or 1.1% to $75.37 after closing at its highest level since June. Israeli and U.S. troops struck targets in Iran on Tuesday. This prompted Iranian strikes against the energy infrastructure of a region which accounts for less than a third global oil production....