Oil Markets

Crude shipments have rebounded to 98 percent of pre-conflict volumes, but analyst estimates for Hormuz transit rates vary widely, signaling uncertainty about the durability of the recovery.

WTI crude fell to $100.25 as Saudi Arabia restores pipeline capacity and Libya recovers output, while US stockpiles hit seasonal lows ahead of peak demand season.

Atlantic Basin refining cracks surged to all-time highs in July as global refinery throughput lagged year-earlier levels by nearly 5 million barrels per day.

ONGC Videsh received U.S. approval in July 2026 to resume Venezuelan operations and recover more than $500 million in frozen dividends from two major projects.

Record supertanker earnings and relay shipping enable Middle East producers to maintain exports despite Iranian attacks, pushing Brent crude to $88 a barrel.

Diesel crack spreads hit $102 a barrel Monday—nearly triple pre-war levels—as attacks on Middle Eastern and Russian refineries, Chinese export restrictions, and Hormuz shipping disruptions leave American refineries as the sole functioning major supply source.

West Texas Intermediate dropped to near $85 and Brent to around $93 as profit-taking hit a market awaiting Washington's full sanctions announcement targeting Iran's economy.

TotalEnergies CEO Patrick Pouyanne puts the all-in freight and insurance cost at $10 per barrel—far below the $25-$30 discount Iraqi crude commands, keeping the arbitrage profitable despite war risk.

Brent crude at $88 reflects market confidence in near-term resolution, but analysts say prices could spike 35 percent if the strait stays closed past early Q4.

Crude advances for a sixth session as U.S.-Iran talks over Strait traffic collapse, sustaining supply shocks that extend duration risk across fixed-income portfolios

The Strategic Petroleum Reserve dropped to 298.7 million barrels last week, its lowest level in four decades, raising questions about the nation's emergency energy cushion.

Global oil supply losses of 11.1 million barrels per day failed to trigger a price surge as demand collapsed, but China's finite stockpiles signal a winter crunch.

Crude prices advanced as Strait of Hormuz supply concerns revived inflation fears, pushing Treasury yields higher ahead of Friday's U.S. employment report.

President Trump's announcement of U.S.-Iran talks beginning Monday eased supply fears, pushing crude lower while coordinated intervention lifted the Japanese yen.

Brent crude rose 4.2 percent this week to $95 per barrel, pushing the U.S. 10-year Treasury yield up 18 basis points as markets price in a longer stretch of restrictive policy.

Declining transit volume through the world's most critical oil chokepoint is tightening supply expectations and lifting inflation risk premiums across rates markets.

President Trump authorized U.S. military strikes on multiple Iranian targets Thursday, sending oil prices sharply higher and triggering a broad market selloff.

Tehran's defiance of international demands raises stakes for global oil markets and defense spending as diplomatic options narrow

Energy Select Sector SPDR Fund offers exposure to major oil and gas producers benefiting from seasonal consumption increases and stable crude prices above $80 per barrel

Tehran's state media declared the Strait of Hormuz will stay under Iranian management, asserting leverage over the 21 million barrels of oil transiting daily

President announced agreement to open critical oil transit route after calls with regional leaders, with details coming soon

Secret Oman talks target lifting sanctions for Iranian oil exports and $10 billion in frozen funds, but Capitol Hill opposition mounts

The overnight conversation focused on escalating tensions with Iran, revealing a rift between Washington and Jerusalem on regional strategy

President's dismissive comment highlights White House tightrope walk: pressure Tehran without sending crude markets soaring

The clandestine outpost in the Iraqi desert provided critical support for Israeli air campaigns, deepening regional instability and complicating U.S. security interests

The Revolutionary Guards announced missiles and drones are locked on U.S. targets, pushing crude oil higher and boosting defense shares

One-page proposal would unlock $60 billion in frozen assets and flood markets with 1.5 million barrels daily, threatening U.S. shale profits

The deteriorating health of Nobel laureate Narges Mohammadi in Iran escalates regional tensions, forcing bond investors to price in higher energy inflation and safe-haven demand.