Commercial crude oil stocks increased by 6.9 million barrels to 456.2 million barrels last week amid a drop in exports.
The light sweet crude oil market initially fell on Wednesday as US and Iranian officials are starting o communicate. However, we are still very much in the same range overall.
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Shell CEO Wael Sawan warns Europe will be next to face an energy supply crunch. TotalEnergies CEO Patrick Pouyanné says the current oil products market is "dislocated.
Iraqi oil production has slumped as the Iran war rages, with storage tanks reaching high and critical levels while the country is unable ​to export crude via the Strait of Hormuz, three Iraqi energy
Investors will be looking for updates from Burgum, who also chairs Trump's energy dominance council, on the state of the U.S. war against Iran
If ​oil ​prices rise to $150 ⁠a ​barrel ​it could trigger a ​global ​recession, BlackRock CEO ‌Larry ⁠Fink told the BBC ​in ​an ⁠interview published ​on ​Wednesday.
US stock futures are pointing to a firm open on Wednesday as falling oil prices and tentative diplomacy around the Middle East conflict lift sentiment, reversing some of Tuesday's losses. Nasdaq futur
Optimism trickled into the stock market Wednesday morning on reports that the U.S. and Iran are accelerating efforts for peace talks. "Be cautious," argues Kevin Green, at least until Iran itself conf
Hungary will gradually stop sending natural gas to Ukraine until crude ‌oil flows on the Druzhba pipeline resume, Prime Minister Viktor Orban said on Wednesday, escalating a standoff with Kyiv over
Oil prices are lower this morning; Brent Crude dipped back under the widely watched US$100/barrel mark and is down 3.6% to reach US$96 as of writing.
Global stocks jumped as tentative hopes for a diplomatic resolution to end the conflict in the Middle East grew.
Brent crude traded 5% lower on reports of U.S. ceasefire proposal.
Oil retreated while Asian equity markets rose early Wednesday amid improving risk sentiment on hopes of a resolution to the Middle East conflict.
Stocks rose and oil fell on Wednesday on reports the U.S. is seeking a month-long ceasefire in its war on Iran, and had sent a 15-point plan to Iran for discussion, raising hopes for a resumption of o
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