(Oil Price) – Declarations by Iran and the U.S. earlier this week make the prospect of peace in the Middle East even more distant, driving crude oil prices higher. Meanwhile, the diesel crack spread in the U.S. topped $100 per barrel for the first time in history. At the time of writing, Brent crude was trading at $91.33 per barrel, with West Texas
(Oil Price) – Oil prices surged more than 7% on Wednesday as renewed U.S.-Iran hostilities and fresh threats to shipping through the Bab el-Mandeb pushed WTI above $84 and Brent toward $90, confronting the Federal Reserve with another inflation shock just hours before one of its most uncertain interest-rate decisions in years. The rally accelerated after President Donald Trump vaguely told
(BOE Report) – Oil prices fell on Monday, settling at their lowest levels in over a week, after the U.S. abruptly suspended a campaign of air strikes against Iran over the weekend, raising hopes of a diplomatic solution that would allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $8.42, or 8.7%, to settle at $88.36
(Oil Price) – A group of 14 Senate Democrats is pressing the Trump administration to reinstate sanctions on Russian oil after a temporary waiver tied to the Iran war. In a letter to Treasury Secretary Scott Bessent, the lawmakers argued that the policy allows additional revenue to flow to Moscow, at a time when oil prices are already elevated.
(BOE Report) – Iran will only accept “a fair and comprehensive agreement” in its negotiations with the U.S. on ending the war in the Middle East, its foreign minister said on Wednesday, as President Donald Trump cited “great progress” in the process. “We will do our best to protect our legitimate rights and interests in the negotiations,” Foreign Minister Abbas
(BOE Report) – A proposed pipeline for carrying Canadian crude oil to the United States is close to securing the minimum commitments from oil companies that the project needs to go ahead, four sources familiar with the matter told Reuters. The Alberta-to-Wyoming pipeline, proposed by Canadian pipeline company South Bow Corp and its U.S. partner Bridger Pipeline, could increase Canada’s
(Investing) – Venezuelan oil sales to the United States will start immediately with an initial shipment of approximately 30 million to 50 million barrels and will continue indefinitely, a senior Trump administration official told Reuters on Wednesday. Trump on Tuesday unveiled a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been stuck in Venezuela
(Investing) – Oil prices fell Monday, handing back some of the previous week’s gains as traders fretted about Moody’s U.S. credit downgrade as well as slowing economic growth from China, the world’s largest crude importer. At 08:15 ET (12:15 GMT), Brent Oil Futures expiring in June inched 0.7% lower to $64.93 per barrel, while West Texas Intermediate (WTI) crude futures also fell 0.7% to $61.53
(BOE Report) – The Kremlin said on Thursday that Russia is not holding talks with Europe or the United States about Russian gas supplies via Ukraine. Russian gas supplies to Europe have collapsed since the start of the military conflict in Ukraine in February 2022 and blasts at the subsea Nord Stream pipelines. Gas exports to Europe from Russia via
(Investing) – The Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced sanctions against a teapot oil refinery and its CEO for purchasing and refining Iranian crude oil worth hundreds of millions of dollars. The oil was sourced from vessels linked to Ansarallah, a Foreign Terrorist Organization, and the Iranian Ministry of Defense of Armed Forces Logistics (MODAFL). The refinery,
(Oil Price) – American and Vietnamese companies signed this week several agreements in the energy and minerals sectors estimated to be worth $4.15 billion, as the Southeast Asian country looks to avoid U.S. tariffs and boost cooperation with U.S. firms. Vietnam’s Trade Minister Nguyen Hong Dien visited the United States this week and held talks with the US Trade Representative Jamieson
