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.
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According to Goldman Sachs analysts, Brent crude prices have climbed to $76–77 per barrel, driven in part by heightened geopolitical tensions. The bank estimates the current fuel risk premium to be around $10 per barrel.
19 June
US oil inventories posted record decline last week — EIA
US oil inventories fell by nearly 11.5 million barrels last week, the biggest weekly drop in over a year, according to data from the US Energy Information Administration (EIA). Analysts polled by Reuters had expected a much more moderate decline.
19 June
Iran ramps up oil exports amid Middle East escalation
According to vessel-tracking firm TankerTrackers.com, the country has shipped 2.33 million barrels of crude per day starting June 13. Since last Friday, Iran's average oil exports have surged 44% compared to the 12 months through June 12.
19 June
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
18 June
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
18 June
After rising 4% during Tuesday's trading session, crude oil prices fell due to supply disruption risks stemming from the ongoing Middle East conflict. Fitch analysts warned that significant damage to Iran's production could exert further pressure on oil prices in the near term.
18 June
Trump administration plans to allow oil and gas operations in Alaska reserve
The Trump administration suggested making 82% of the 9.3-million-hectare National Petroleum Reserve in Alaska available for oil and gas extraction. This move challenges ex-President Joe Biden's initiatives to limit drilling in the region.
18 June
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
17 June
China's oil demand will peak in 2027 — IEA
Today, the International Energy Agency (IEA) released a new oil market forecast through 2030. According to the organization’s analysts, oil demand in China will peak in just two years and then begin to decline.
17 June
Russell Hardy, Chief Executive Officer of Vitol, projected a measured decline in US petroleum production for 2025 during his address at the Energy Asia conference. The industry leader attributed this anticipated reduction to the price sensitivity characteristic of US shale operators.
17 June
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.
