crude oil
33articles
Goldman Sachs: $100 Brent Is Curbing China's Crude Demand
Goldman Sachs forecasts China's crude imports will rise only slightly in Q4 as $100 Brent suppresses buying, potentially capping further upward pressure on global oil prices.
Russia's $118 Billion Arctic Oil Bet Pushes Ahead Despite Sanctions
The Kremlin's Vostok Oil project in Russia's Far North advances despite Western sanctions, as Moscow prioritizes Arctic dominance and crude export capacity through the Ukraine war.
Aramco Suspends European Crude Deliveries After Pipeline Attack
Saudi Aramco is halting October crude oil deliveries to some European refiners following an attack on Saudi Arabia's East-West Pipeline, Bloomberg reported Friday.
Oil Surges 2% After New Strikes on Saudi Arabia, Strait of Hormuz
Reuters reports crude climbed more than 2% on September 13 after new strikes hit Saudi Arabia and the Strait of Hormuz region escalated, following an earlier naval attack off Oman.
OPEC Projects Oil Demand Growth to Surge Sixfold in 2027
OPEC now expects global oil demand growth to jump from 380,000 barrels per day this year to 2.36 million bpd in 2027, a more than sixfold increase in twelve months.
OPEC Cuts 2026 Oil Demand Growth Forecast for Fifth Straight Month
OPEC trimmed its 2026 global oil demand growth estimate to 380,000 barrels per day in its September report — the fifth consecutive monthly downward revision.
China Oil Demand to Fall 8.9% in 2026, Sinopec Research Finds
Sinopec's research arm projects China's oil demand will fall 8.9% in 2026, a contraction that would reshape global energy markets as geopolitical tensions keep supply uncertain.
China, Not OPEC, Controls Global Oil Markets, Rosneft CEO Says
Igor Sechin argues Beijing's crude buying behavior this spring and summer has stabilized oil prices, effectively supplanting OPEC's traditional role as price setter.
China's Shrinking Oil Appetite Drives Emissions Cut for First Time
China's oil demand is falling fast enough to cut national emissions for the first time ever, Reuters reports, reshaping energy markets as Hormuz tensions keep crude prices high.
Hormuz Tanker Traffic Plunges as U.S.-Iran Strikes Rattle Oil Markets
Tanker crossings at the Strait of Hormuz dropped to four Tuesday, per Kpler, as U.S.-Iran strikes prompt shipping operators to reconsider the world's key oil passage.
Oil Tops $91 as Reports Emerge of Two Tankers Struck in Hormuz
Brent crude hit $91.48 Tuesday after reports of two tankers struck in the Strait of Hormuz, extending the market shock following the first US-Iran exchange of fire in weeks.
Oil Prices Fall as Iran and Oman Weigh Temporary Hormuz Deal
WTI and Brent crude drop nearly 7% and 9% in five days as Iran and Oman explore a temporary Hormuz deal while Washington pivots from airstrikes to economic sanctions.
Oil Falls as U.S. Prepares to Announce New Iran Sanctions
Crude prices declined Monday ahead of a U.S. announcement on new sanctions against Iran, with traders pricing in the prospect of tighter restrictions on Iranian oil exports.
Oil Bulls Surge as Iran Deal Collapses, Hormuz Stays Restricted
October WTI crude futures jumped 5.91% to $86.31 as the collapse of Iran nuclear talks and ongoing Hormuz shipping restrictions pushed oil bulls back into control.
Iranian Oil to China Nearly Dries Up as US Blockade Tightens
Independent Chinese refiners face a near-collapse in Iranian crude supplies as Washington's oil blockade tightens, pushing prices higher and squeezing Tehran's revenues.
Hengli Group Named Top Buyer of Sanctioned Iranian Crude, Analysts Say
China-based Hengli Group is the top importer of sanctioned Iranian crude oil, analysts say, part of a teapot refinery network shielding Tehran from U.S. economic pressure.
Oil Posts Weekly Gains as US Threatens Indefinite Iran Blockade, Two Ships Attacked in Hormuz
Crude prices rose on the week after Washington threatened an indefinite naval blockade on Iran and warned of stepped-up economic pressure, as two more vessels were attacked in the Strait of Hormuz.
OPEC Lowers 2026 Oil Demand Growth Forecast Again as Supply Risks Mount
OPEC lowers its 2026 oil demand growth forecast again as Red Sea supply disruptions mount and Iran deal talks show no progress, keeping markets caught between opposing forces.
Oil Rises as Iran Deal Doubts Heighten Supply Concerns
Crude climbed Wednesday as traders priced in a longer-than-expected stalemate in US-Iran talks, keeping a risk premium on Persian Gulf supply disruptions.
Sanctioned Tanker Grounds Off Oman, Oil Leak Spreading
A sanctioned oil tanker has run aground off the Omani coast and is leaking crude, satellite images confirm, adding environmental risk to an already strained Gulf energy corridor.
Turkey and Iraq Sign One-Year Oil Pipeline Deal
Turkey and Iraq have signed a one-year agreement to resume operations on the Iraq-Turkey Pipeline, reopening a crude export route through Ceyhan that has been shuttered since 2023.
Iran Halts Ships in Hormuz Strait, Sending Oil Prices Higher
Tehran said it is stopping vessels in the Strait of Hormuz, sending crude prices higher and raising alarms about a chokepoint that carries one-fifth of global seaborne oil.
China's Oil Output Hits Record High at 216 Million Tons
China's National Energy Administration reports crude oil production reached 216 million tons last year, a national record, as natural gas output also climbed substantially.
China's Oil Imports Plunge 41 Percent, Tempering Fuel Price Surge
China's crude oil imports fell 41 percent in June to a near-decade low, keeping energy prices in check even as US-Iran fighting pushed oil briefly toward $79 per barrel.
OPEC Cuts 2026 Oil Demand Growth Forecast Again
OPEC again lowered its 2026 global oil demand growth forecast, a bearish demand signal landing just as conflict around the Strait of Hormuz drives supply-side anxiety higher.
Oil Jumps 3% as U.S.-Iran Strikes Escalate Over Hormuz
Crude oil surged more than 3 percent after the United States and Iran traded fresh strikes Sunday, with Tehran accusing Washington of breaching a June ceasefire pact.
Oil Tops Two-Week High After U.S. Launches Fresh Strikes on Iran
Crude prices jumped more than a dollar per barrel after the U.S. launched fresh strikes against Iran, exposing market complacency about the conflict's supply risks.
Oil Falls to Pre-War Levels as Markets Price a Hormuz Deal
Crude erased its war-risk premium Thursday, falling to pre-conflict levels — a market bet that the Versailles framework delivers a deal before IRGC enforcement resumes.
China Delays 500,000 Bpd of Refining as Hormuz Disruption Deepens
Chinese refiners have pushed back roughly 500,000 barrels per day of new processing capacity as Strait of Hormuz disruptions from the Iran-Israel war squeeze crude supply.
Oman Oil Terminal Blast Halts Crude Loading
A drone attack on Oman's Mina Al Fahal terminal halted crude oil loadings and pushed Brent above $95, signaling regional instability is spreading beyond the Iran-US corridor.
Iran Oil Exports Crash to Six-Year Low Under US Blockade
Iran's crude exports fell to 209,000 barrels per day in May, down 84 percent from April, as the US naval blockade chokes off shipments and strands tens of millions of barrels at sea.
US Crude Exports Hit Records as SPR Drawdowns Cool Brent
US crude exports have surged to all-time highs and SPR releases keep flowing as Brent eases off recent highs on rising bets that a Hormuz deal is near.
Satellite Images Show 45 km² Oil Slick Near Kharg Island
Copernicus Sentinel data shows a suspected 45-square-kilometer oil slick off Iran's Kharg Island, which handles 90% of the country's crude exports. Iran denies the spill.