Markets & Oil
How geopolitical events move oil benchmarks, gold, defense equities, currency pairs, and what to watch on the next move.
Russians Withdraw Billions From Banks Amid Fears Putin Could Seize Deposits
Russian citizens have pulled billions from domestic banks, fearing the Kremlin may confiscate private savings as wartime financial pressure mounts on Moscow.
China State Shippers Reroute Oil Tankers to Avoid Gulf Chokepoints
Chinese state-owned shippers are repositioning oil tankers outside the Persian Gulf as Iran's Hormuz closure forces the world's largest oil importer to adapt its supply chain.
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.
Drone Strike Ignites Fire at Libya's Largest Refinery in Zawiya
A drone attack set gasoline ablaze at Libya's 120,000-barrel-a-day Zawiya refinery, the country's largest operating plant, with the National Oil Corporation weighing force majeure.
Brent Crude Tops $90 as Iran-U.S. Deal Hopes Fade
Brent crude climbed above $90 per barrel Tuesday as stalled Iran-U.S. negotiations, a Houthi ship attack, and renewed Chinese demand combined to tighten global oil markets.
Russian Sanctions Tanker Spills Oil Off Oman, Slick Spreads Across Wide Area
A tanker operating under Western sanctions against Russia's oil trade has caused a major oil spill off Oman, with the slick spreading over a large stretch of the Arabian Sea, Reuters reported.
Aramco Jizan Refinery Erupts in Flames; Houthis Claim Drone Strike
A Saudi Aramco refinery in Jizan is burning after a fire the Houthis say they caused with a drone strike; the Saudi energy ministry has not confirmed a cause.
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.
Explosions at Egypt's Damietta Port; Drone Suspected to Hit LNG Tankers
A drone struck the Energos Winter floating storage tanker at Egypt's Damietta Port, sparking a fire that spread to the Gaslog Salem, trading sources said Wednesday.
Ukraine Strikes Major Russian Oil Refinery Hours After Zelenskyy-Trump Meeting
Ukraine struck a major Russian oil refinery hours after Zelenskyy's White House meeting with Trump, as Kyiv escalates its campaign against Russian energy infrastructure.
Houthis Claim Ballistic Missile Strike on Saudi Tanker NCC Ghazal
Yemen's Houthi military spokesman said Tuesday the group targeted the Saudi oil tanker NCC Ghazal with ballistic missiles, forcing the vessel to turn back.
Aramco Halts Abqaiq Oil Operations After Houthi Attack
Saudi Aramco has suspended operations at the Abqaiq oil processing and stabilisation facility following a Houthi drone attack, Middle East Eye reported.
Oil Slides More Than 5% After US Pauses Strikes on Iran
Crude prices fell over 5% on Sunday as US and Iran extended a pause in strikes for a second day, unwinding weeks of war-risk premium built into oil markets, Reuters reported.
The Double Chokehold: How the Houthis Turned Saudi Arabia's Oil Escape Route Into a Second Front
The US-Iran war this week crossed a threshold markets had feared: both the Strait of Hormuz and the Red Sea's Bab el-Mandeb are now simultaneously disrupted, and the Saudi infrastructure built to bypass the first crisis is now the target of the second.
Ukraine Strikes Russian Oil Refineries and Logistics Hubs on War Day 1,611
Ukrainian forces struck Russian oil refineries and logistics hubs on the war's 1,611th day, targeting infrastructure that funds Moscow's campaign as Russian energy revenue surges 60 percent year-over-year.
China Refiners Snap Up Russian Crude as Mideast Supply Risks Grow
Chinese refiners are accelerating September crude purchases from Russia while eyeing Iranian supply as Middle East military tensions drive energy market uncertainty.
Brent Crude Nears $100 After Houthi Strikes on Saudi Tankers
Brent crude climbed above $98 a barrel Thursday after Yemen's Houthis claimed missile and drone strikes on two Saudi oil tankers in the Red Sea, MarketWatch reported.
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.
Iran War Leaves Oil Markets More Vulnerable Than Trump Believes
Depleted strategic reserves and a changed geopolitical landscape mean the US-Iran conflict poses a far greater oil price shock risk than Washington has acknowledged.
UKMTO: Tanker Struck by Projectile in Strait of Hormuz
UK Maritime Trade Operations said Monday it received multiple reports that a tanker was struck by an unknown projectile in the Strait of Hormuz, a fresh maritime incident in the chokepoint.
China's Fuel Oil Exports Hit 2026 High as Shipping Demand Rebounds
China shipped 577,000 barrels per day of fuel oil in June, an 18% year-on-year jump, with bunker exports up 55% from May — the country's highest monthly total this year.
IRGC Claims Strike on Two Oil Tankers in Strait of Hormuz
Iran's Revolutionary Guard says its forces hit two oil tankers transiting the Strait of Hormuz on Sunday, with BBC and ABC reporting explosions aboard two ships in the waterway.
Brent Crude Tops $90 as US-Iran Strikes Intensify Over Hormuz
Brent crude crossed $90 a barrel on Sunday as US strikes on Iran entered a ninth consecutive night and CENTCOM's reimposed naval blockade tightened its grip on Strait of Hormuz shipping.
Ukraine Strikes Russia's Shadow Fleet, Sparing the Black Sea
Ukraine has tailored its Black Sea maritime campaign to disable Russia's sanction-evading tanker fleet without triggering oil spills that would devastate an ecosystem already under wartime stress.
Brent Crude Hits One-Month High as Hormuz Tanker Traffic Collapses
Brent hit $85.92 Friday — a one-month high — as IRGC attacks on Hormuz radar sites and Washington's Iran sanctions deadline drained tanker traffic to two-month lows.
Hormuz Transits Collapse to 3 Vessels; Crude and LNG Tankers Halt
Just three commodity vessels crossed the Strait of Hormuz on Thursday, down from 11 a day earlier, with crude carriers and LNG tankers staying away entirely, Reuters shipping data show.
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.