All articles tagged with #wti crude
Oil futures headed toward a fourth straight weekly loss as the Strait of Hormuz reopens and higher flows ease near-term supply concerns; Brent traded in the low $70s and WTI under $70, with markets weighing a U.S.–Iran MoU to negotiate a deal and rising Gulf shipments, suggesting bearish sentiment but possible oversold conditions.
Goldman Sachs’ commodity team says rising oil prices are already eroding global demand, with May demand destruction estimated around 2 million barrels per day, potentially offsetting the physical tightness of supply. They also flag a possible $10 downside risk to Brent in Q4 as demand weakens, even as Middle East supply concerns remain a source of upside risk; Energy Aspects warns Chinese imports may fall to pandemic-era lows, and current prices hover in the $90s amid ongoing geopolitics and industry warnings of shortages.
Oil prices held near multi-week highs with Brent around $106 a barrel and WTI near $101 as the Trump-Xi meeting opens, set against a stubborn Iran war that has kept global inventories tight; Iran's crude shipments remain constrained by sanctions and a US naval blockade, satellite imagery shows Kharg Island export facilities idle, and analysts say the market will stay undersupplied through October even if diplomacy progresses.
Traders on Kalshi think U.S. WTI crude could reach around $120–$127 per barrel in 2026, with more than a 50% chance of testing roughly $127 and about a 63% chance to cross $120, even as prices hover above $113 and Brent hits post‑war highs. Sentiment has narrowed from earlier bets on prices above $150, reflecting ongoing geopolitical uncertainties and supply dynamics amid the Iran ceasefire, but a price surge remains a focal point for market participants.
California’s average gasoline price topped $6 per gallon as WTI crude rose near $106 a barrel amid fears of a blockade outside the Strait of Hormuz and broader Iran-related instability, pushing the national average to about $4.30 per gallon—the highest since mid-2022.
Oil prices fell after reports that Iranian Foreign Minister Araghchi will travel to Pakistan for peace talks, with Brent down to about $104.63 and WTI near $94.75 as Israel and Lebanon extended their truce by three weeks. The ongoing closure of the Hormuz Strait keeps energy-security concerns front and center, with analysts warning the disruption could raise costs and pressure political concessions, while the IEA warns of a looming energy-security crisis amid these tensions.
A prolonged closure of the Strait of Hormuz and Middle East supply cuts are expected to push oil prices higher, with Brent and other regional benchmarks rising while U.S. WTI remains discounted; Asia is already rationing fuel and paying steep premiums for crude to replace the lost supply, and shortages could spread to Europe by April, potentially driving prices toward $150 per barrel if disruptions persist.
Oil rose as Iran rejected direct talks with the U.S., with Brent up 3.8% to $106.12 and WTI up 3.6% to $93.61 as Tehran said talks via mediators aren’t negotiations; Trump claimed talks are ongoing. TD Securities analysts expect the Fed to stay in wait-and-see mode, with potential rate cuts later in 2026 if inflation remains contained.
Oil prices slipped about 1% as the US and Iran prepared for a third round of nuclear talks in Geneva, easing fears of conflict, while Trump’s tariff hike added growth-uncertainty that weighed on demand. Brent traded around $70.89 a barrel and WTI around $65.63, with analysts noting an Iran risk premium but potential sanctions relief that could boost supply; Goldman Sachs also warned of downside risk to 2026 prices if sanctions relief or other disruptions accelerate supply, though a global surplus is forecast if none materializes.
Brent crude climbed above $71 and WTI traded around $66 as traders priced in the risk of U.S. military action against Iran, citing stalled diplomacy and potential disruptions to Iranian supply and Persian Gulf flows through the Strait of Hormuz; the market appears tighter due to sanctions dynamics and a steeper Brent curve amid stalled Russia-Ukraine talks.
Oil prices fell more than 1% after Trump indicated there may be no immediate attack on Iran, with U.S. crude around $60.20 per barrel and Brent near $64.54, as markets weigh potential supply disruptions from Iran's crackdown on protests.
Oil prices dropped over 2% due to concerns about a global supply glut and ongoing geopolitical tensions, particularly related to the Russia-Ukraine conflict, with the market also watching potential peace negotiations that could impact sanctions and supply.
Oil prices rebounded by about 1% after hitting five-month lows, amid hopes that upcoming US-China talks could ease trade tensions that have recently impacted the energy market, with geopolitical developments and potential negotiations influencing market sentiment.
WTI crude oil prices surged to $80 a barrel, marking the best session in over two months, driven by anticipated demand and supply constraints. Goldman Sachs revised its long-term oil demand forecast upward, predicting peak demand around 2034. Energy stocks rallied, with significant gains in the Energy Select Sector SPDR Fund. Goldman Sachs also highlighted key energy stocks to buy and sell based on free cash flow, growth assets, and refining market exposure.
Oil prices fell by 2% after the US Federal Reserve Chair, Jerome Powell, announced that further interest rate hikes are coming in the second half of the year. The US benchmark, WTI Crude, was trading at $71.12, down by 1.92% on the day, while the international benchmark, Brent Crude, was falling by 1.84% and traded at $75.67. The Bank of England also surprised markets with a large 50-basis-point interest rate hike, the 13th consecutive increase, after inflation data from Wednesday showed the UK’s May inflation was stuck at an annual 8.7%, flat compared to April and higher than expectations.