Energy

Iran has issued a stern warning to Gulf Arab states, stating that it would be “unacceptable” for them to permit the use of their airspace or military bases for actions against Iran. This statement comes amid rising tensions following an Iranian missile attack and concerns about possible Israeli retaliation. Key points include: Iranian Foreign Minister […]

According to the Energy Information Administration (EIA), U.S. crude stocks increased by 5.8 million barrels to 422.7 million barrels for the week ending October 4. This rise was unexpected, as analysts had forecasted a smaller increase of 2 million barrels. Key highlights include: Fuel inventories saw a significant drop, with combined gasoline and distillate fuels […]

The U.S. Energy Information Administration (EIA) has revised its oil demand forecasts downward for both the U.S. and global markets for 2025, citing weakening economic activity in China and North America. Key points include: Global oil demand is now expected to grow by 1.2 million barrels per day (bpd) to 104.3 million bpd in 2025, […]

Oil prices fell significantly on Tuesday, with both Brent and U.S. West Texas Intermediate (WTI) crude futures declining over 4% due to news of a potential ceasefire between Hezbollah and Israel. Brent crude settled at $77.18 per barrel, down $3.75 (4.63%), while WTI closed at $73.57, also down $3.57 (4.63%). Key points include: The market […]

Goldman Sachs has projected that Brent crude prices could rise by $10-$20 per barrel in 2025 due to potential disruptions in Iranian oil production. This comes in the wake of escalating tensions between Israel and Iran, following a missile attack by Iran and Israel’s assassination of a Hezbollah leader. The bank’s analysis suggests that if […]

Oil prices experienced a significant rise on Friday, marking their largest weekly gains in over a year, driven by escalating tensions in the Middle East. Brent crude futures climbed by 43 cents, settling at $78.05 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by 67 cents to close at $74.38 per barrel. The […]

A recent strike by dockworkers on the U.S. East Coast and Gulf Coast, which disrupted significant portions of the nation’s ocean shipping, concluded on Thursday. While the strike ended after a tentative agreement on wages was reached, the underlying issue of automation remains unresolved and a key concern for labor unions. Approximately 45,000 members of […]

Exxon Mobil has indicated a potential decrease in its third-quarter upstream earnings, estimating a drop of $600 million to $1 billion due to a significant slump in oil prices. The company highlighted that oil prices fell by 17% during the quarter, marking the largest decline in a year, with Brent futures settling at $71.77 per […]

U.S. crude oil inventories rose by 3.9 million barrels to 417 million barrels for the week ending September 27, according to the Energy Information Administration (EIA). This increase contrasts with analysts’ expectations for a 1.3 million-barrel draw. The rise in inventories is attributed to a decline in refinery utilization rates, which fell by 3.3 percentage […]

OPEC has sufficient spare oil capacity to offset a complete loss of Iranian oil supplies if Israel targets Iranian facilities. However, the group may struggle to manage the situation if Iran retaliates against other Gulf nations’ installations. Recent tensions escalated when Iran launched missile strikes against Israel in response to Israeli airstrikes, prompting concerns about […]