Uncertainty over the Iran war clouds the horizon as investors await the jobs report for July.
OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes the unwinding of a layer of voluntary outp
The cartel nears the end of a cycle of production hikes, while potentially difficult talks over future quotas loom.
Oil markets moved away from session lows amid escalation worries.

US oil output and demand fell in May, EIA says

11:40am, Friday, 31'st Jul 2026
Crude oil output ​from the United ‌States fell to about 13.71 million ​barrels per ​day in May, down ⁠about 2% ​from a record in ​April, according to data published by the ​U.S. Energy
The crude oil markets continue to see a lot of noisy behavior, as traders are struggling to navigate all of the external noise out there.
A rise in refining margins to near record levels contributed to the increase in euro zone fuel prices ​in recent months and a further margin increase is still ‌likely in August before a retreat, a
Oil prices are expected to rise further this year as shipping ​disruptions in the Strait of Hormuz and attacks in the Red Sea by Iran-backed Houthis threaten oil ‌flows and heighten supply risks,
ExxonMobil's earnings doubled and Chevron posted its highest quarterly earnings on record as energy prices soared during the prolonged closure of the Strait of Hormuz.
WTI, Brent and natural gas remain driven by Middle East transit risks, constrained Gulf exports and global LNG supply concerns. Explore today's energy market outlook.
Oil prices fell on Friday as signs of a recovery in crude flows through the Strait of Hormuz eased supply concerns. CBA estimates traffic through the vital waterway has recovered to roughly 30%-35% of

Oil Rises After Attacks in Black Sea

07:45pm, Thursday, 30'th Jul 2026
Oil rose in early Asian trade amid ongoing supply-disruption concerns.
WTI crude oil finds support near $78.56 as bullish momentum strengthens, but a symmetrical triangle leaves the near-term breakout direction uncertain.
Oil traders take some profits off the table and wait for news from the Middle East.
Portugal's government said on Thursday it had approved a 33% windfall tax on extraordinary profits earned in 2026 ​by oil and refining companies benefiting from an energy ‌price surge triggered by
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