Oil edges up ahead of Trump-Xi meeting in Beijing

08:46pm, Wednesday, 13'th May 2026
Oil prices edged up on Thursday as investors awaited a meeting between U.S. President Donald Trump ​and Chinese President Xi Jinping later in the day ‌as traders focused on the Iran war.
Global oil prices have climbed by nearly 50% since the the end of February, but the rise pales in comparison to an estimated loss of nearly 1 billion barrels since the start of the Iran war 75 days ag
Oil markets are losing ground as traders focus on the upcoming Trump – Xi meeting.
A global oil shock from the Iran war may well require the European ​Central Bank to raise interest rates ‌to stop higher fuel costs from spreading to wages, expectations and broader prices, the EC
Dealmaking in the U.S. upstream oil and gas sector jumped to $38 billion in the first quarter of this year, ​marking the highest quarterly total in two years, analytics firm ‌Enverus said on Wedne
American Petroleum Institute CEO Mike Sommers discusses his outlook for gas prices amid the war in the Middle East and high gas prices in California on 'Varney & Co.' 00:00 Global supply and the Strai
Refinery attacks tied to the wars in Iran and Ukraine have knocked out nearly 9% of global oil refining capacity in recent months, deepening ​a fuel supply crunch and likely delaying recovery by mon
U.S. crude oil inventories fell by 4.3 million barrels in the week ended May 8 and were about 0.3% below the five-year average for the time of year, the EIA said. Analysts expected a drop of 2.3 milli
With the stalemate, and the lack of any real potential progress, one would have to assume that in this market, if there is a pullback, it is likely a buying opportunity.
IEA warns that mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace
It now forecasts global oil-demand growth of 1.17 million barrels a day this year, from 1.38 million previously.
Oil prices could rise further over the summer as rapidly depleting inventories pile more pressure on the market, the IEA said. The energy agency also flagged further demand destruction as a result of

OPEC lowers 2026 global oil demand growth forecast

08:01am, Wednesday, 13'th May 2026
OPEC on Wednesday ​lowered its ‌forecast for world oil demand ​growth in ​2026, a copy of ⁠its monthly ​oil report ​showed, joining other forecasters such as ​the International Energy
Oil and Natural Gas settle into technical ranges as the Middle East truce holds. WTI bounces strongly inside its blue channel, Brent finds solid support, and NatGas builds short-term base near $2.85.
Russia's crude oil production declined by 460,000 barrels per day in April from the same month a year ago to around 8.8 million bpd, the International Energy Agency said on Wednesday, as Ukraine rampe
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