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Saudi oil exports to China will surpass two-year high in August—Reuters sources

According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.

Yesterday at 10:29 AM
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from -3.3M to -0.37M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

10 June
Oil prices may spike as short positions unwind — BofA

Bank of America (BofA) analysts warn of a possible surge in oil prices following commodity trading advisors’ (CTAs) actions. A short-term rally could be sparked by short covering, which usually drives up demand in the market of deferred contracts and boosts prices, OilPrice explains.

10 June
Oil prices may spike as short positions unwind — BofA
US energy supplies to Asia declined under Trump's presidency

According to Kpler data, US energy imports to Asia have actually declined in the four full months since Trump returned to the White House compared to the same period last year.

10 June
US energy supplies to Asia declined under Trump's presidency
Oil rises amid global trade optimism and signs of imminent market shortage

Oil prices have been rising for the fourth consecutive day amid investor optimism over the extension of trade negotiations between the US and China. Signs of an impending supply shortage are exerting further upward pressure, Bloomberg reports.

10 June
Oil rises amid global trade optimism and signs of imminent market shortage
Saudi Arabia heightens competition on oil market — Bank of America

According to recent statements by Bank of America Corp's Head of Commodities Research, the OPEC+ alliance's oil production increase, including Saudi Arabia's participation, could intensify market competition.

10 June
Saudi Arabia heightens competition on oil market — Bank of America
United States. OPEC Crude oil Production Saudi Arabia (Barrel). The value of the indicator has increased from 8.97M to 9.1M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

9 June
United States. OPEC Crude oil Production UAE (Barrel). The value of the indicator has increased from 2.91M to 2.94M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

9 June
HSBC warns of Brent price risks as OPEC+ ramps up production

HSBC forecasts OPEC+ to raise its oil production by 411,000 barrels per day in August and by 274,000 barrels per day in September. These factors raise downward risks to the bank's outlook for Brent crude prices at $65 per barrel in the fourth quarter of 2025.

9 June
HSBC warns of Brent price risks as OPEC+ ramps up production
China's natural resource imports declined in May

China's imports of most natural resources fell in May, according to customs data released today. Reuters analysts noted that the decline affected oil, coal, iron ore, and copper.

9 June
China's natural resource imports declined in May
WTI–Brent spread compression puts US oil exports at risk

The price spread between US WTI and Britain’s Brent crude has narrowed to just $2.78 per barrel. This is the tightest level since September of last year.

9 June
WTI–Brent spread compression puts US oil exports at risk

News on oil prices is not just information for specialists. This is an important signal for every experienced trader. This section of the website will help you understand when there’s a "Strong buy" signal for oil and when it is a "Strong sell" signal.

Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.

What determines oil prices?

  • Global events. Political crises, conflicts, and agreements between producing countries have a huge impact on oil prices.
  • Supply and demand. When many consumers try to buy oil that is in deficit – the prices go up. Otherwise, when supply is greater than demand, the prices go down.
  • Russia and Saudi Arabia. These countries are among the leading oil producers. Their decisions on oil output have a direct impact on the global market.
  • OPEC. This is a group of oil-producing countries. Their agreements on production cuts are aided at stabilizing prices.
  • Alternative energy sources. The development of solar, wind, and other power stations can weaken the countries' dependence on oil and put pressure on its prices.
  • Electric cars. The increasing popularity of electric cars reduces the need for gasoline and, consequently, for crude oil.
  • Global tensions. Oil is a strategic resource. Geopolitical events can affect its production and prices.
  • Environmental constraints. Rising environmental awareness may reduce demand for oil, affecting its price.

Why follow the latest oil news?

  • To make informed investment decisions. Being aware of the oil industry news helps you make conscious choices.
  • To assess the impact on the economy. Oil prices can affect inflation, economic growth, and even our wages.