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