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At Close: Jun 03, 2026
Hope Beneath the Headlines
02:47pm, Wednesday, 29'th Apr 2026
SUMMARY US' energy independence has helped mitigate negative economic effects of the oil price shock. Unit labor costs are growing at a slower rate, suggesting core inflation should moderate over time
Oil majors eye resurgent Canadian energy in wake of Middle East upheaval
02:39pm, Wednesday, 29'th Apr 2026
Canada's oil and gas producers are drawing renewed interest from global energy majors as the Middle East conflict has heightened the country's attractiveness to the world's biggest operators, with
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 7% As Trump Rejects Iran's Proposal
02:34pm, Wednesday, 29'th Apr 2026
Oil markets tested new highs amid worries about escalation in the Middle East.
Why United Arab Emirates Has Unshackled Its Oil Production From OPEC
01:55pm, Wednesday, 29'th Apr 2026
The United Arab Emirates - one of the world's leading producers of crude oil - has decided to quit the Organization of Petroleum Exporting Countries.
OPEC+ set to agree another oil output hike without UAE, sources say
01:39pm, Wednesday, 29'th Apr 2026
Seven members of OPEC+ are likely to agree another increase in oil output targets when they meet on Sunday, three sources with knowledge of discussions told Reuters, lowering the size of the
Fed expected to hold as soaring oil prices keep rate cuts off the table
11:58am, Wednesday, 29'th Apr 2026
With oil flirting near $120 a barrel and inflation refusing to cool, the Federal Reserve is expected to do the only thing it can on Wednesday: nothing. The decision would also mark what is likely Jero
U.S. Crude Oil Stockpiles Fall on Record Weekly Exports
11:16am, Wednesday, 29'th Apr 2026
Commercial crude oil stocks fell by 6.2 million barrels, and were about 1% above the five-year average for the time of year, the EIA said. Crude inventories were seen down by 100,000 barrels in a surv
US crude oil exports rose last week to record high, EIA says
11:11am, Wednesday, 29'th Apr 2026
U.S. crude oil exports rose to 6.438 million barrels per day last week, the highest on record, data from the Energy Information Administration showed on Wednesday.
Jet fuel bidding war breaks out as airlines confront ‘global stress test' over shortages and cancellations
09:03am, Wednesday, 29'th Apr 2026
Europe faces an acute logistics problem as the Iran war severely restricts flows from the Middle East. The International Energy Agency earlier this month warned that Europe could run out of jet fuel i
Russian oil exports steady in April despite attacks, may rise in May, sources say
08:43am, Wednesday, 29'th Apr 2026
Russia has managed to keep crude oil loadings at its key western ports in April at March levels despite ongoing drone attacks, and May could see even an increase, according to trade and industry �
The key global oil contract tops $115 as Strait of Hormuz impasse continues
07:44am, Wednesday, 29'th Apr 2026
Oil futures rallied further Wednesday, with the key contract nearing its highs reached in the early days of the Iran war with little progress made on getting oil tankers through the Strait of Hormuz.
Trump meets with oil executives as Iran stalemate drags on, Axios reports
05:40am, Wednesday, 29'th Apr 2026
U.S. President Donald Trump and his top officials met with oil and gas executives including Chevron CEO Mike Wirth at the White House on Tuesday to discuss the energy fallout of the
Spot crude premiums ease from record highs despite Hormuz closure
05:36am, Wednesday, 29'th Apr 2026
Spot premiums for physical crude have slipped from record highs reached earlier during the Iran war as refiners are drawing on inventories and cutting back processing to cope with lost Middle East
Oil prices extend multi-day rally as Trump issues new threat to Iran; Brent tops $115 per barrel
05:29am, Wednesday, 29'th Apr 2026
Oil prices rose on Wednesday amid fears about prolonged shipping disruption through the strategically vital Strait of Hormuz. Brent crude futures briefly topped $115 per barrel, while WTI futures clim
Russia says UAE's exit from OPEC will increase global production, bring down oil prices in future
05:14am, Wednesday, 29'th Apr 2026
Russian Finance Minister Anton Siluanov said on Wednesday that the decision by the United Arab Emirates to leave OPEC will mean the oil-producing countries will boost production, bringing down g
