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Oil Prices
Everything Briefed has filed against Oil Prices, most recent first.
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North Sea regulator threatens £1m fines over well backlogMore than 500 wells in UK waters have already missed their decommissioning deadlines, and the North Sea Transition Authority says 940 remain to be shut down, warning operators face fines of up to £…Oil holds near recent range as traders watch OPEC+ supply signalsBrent is drifting sideways again this morning with no fresh catalyst, leaving traders parked between soft demand data and OPEC+ discipline. Nobody's forcing a breakout either way today.Markets barely blink at Middle East riskVolatility gauges have dropped sharply even as regional tensions persist, suggesting traders have priced geopolitical risk out faster than the risk itself has faded.Shandong's tanks are running dry and Iran is the cheapest refillIndependent Chinese refiners in Shandong saw inventories fall to 360 million barrels in July, the lowest in eight months, according to Energy Aspects data cited by Bloomberg. These teapots already …ConocoPhillips CEO Ryan Lance to retire, CFO takes overLance leaves after a decade running one of the largest independent US oil producers, handing the reins to his finance chief just as the sector rides a strong run on Middle East supply risk pricing.Oil majors are having a very good warDiamondback Energy just raised production guidance and reported surging profit, and the mechanism is simple: Middle East conflict has pulled non-OPEC supply into the gap, with Brazil's oil output h…Shell's profits doubled on the same volatility hurting driversShell's trading division profiting from Middle East-driven oil price volatility while UK motorists and bill payers absorb the same volatility as higher costs is the uncomfortable mechanism behind e…Oil traders are stuck waiting on OPEC+ and Iran, againCrude is holding in a tight range this week with no fresh catalyst, leaving traders parked on the same OPEC+ supply decisions and Iran sanctions questions that have driven the last month of price a…Sir Ian Wood, who built Wood Group into a North Sea giant, dies at 84Wood turned his father's fishing business into an energy services group worth billions and later gave away much of his fortune through the Wood Foundation, including funding Aberdeen's regeneration…The peso's record low is an oil story wearing a currency maskThe Philippine peso's fresh record low tracks almost exactly with crude's climb this month, because the Philippines imports nearly all its oil and pays for it in dollars. Every dollar oil rises pus…Crude's rally is a bigger threat to the Fed than to TrumpOil climbing back toward levels that feed straight into petrol prices arrives just as the disinflation narrative was gaining credibility in Washington and London alike. Every sustained $10 move in …The rupee's rebound story just got run over by an oil price it can't hedgeIndia imports roughly 85% of its crude, so every dollar Brent adds to the barrel price is a direct hit to the current account that no amount of portfolio inflow enthusiasm can offset. Traders had b…Asian tech stocks rally while oil keeps climbing, and both can't be bullish signalsA tech rally usually reflects risk appetite and cheap money expectations, while rising oil reflects supply tightness or geopolitical risk, and having both at once means investors are pricing two di…Ryanair's profit warning is what happens when hedging runs outRyanair's fuel hedges were built for a calmer Middle East, and the Iran conflict has pushed jet fuel costs past what those contracts were priced to absorb. US petrol crossing $4 a gallon again is t…Brent above $90 and London's earnings season is the first casualtyProfit warnings from FTSE-listed firms are running well ahead of last quarter's pace, and the common thread in every one of them is the same line about fuel costs and freight disruption through the…Chevron shops for a Hormuz workaround as US strikes widenOil majors don't quietly explore pipeline routes through Syria unless they think the Strait of Hormuz is a genuine liability, not a temporary scare. Chevron and Iraqi officials are looking at bypas…Brent above $85 puts today's CPI print under more pressure than usualOil at $85 a barrel doesn't just squeeze margins, it drags straight into the inflation print markets are watching today, and traders are already repricing rate expectations ahead of the data rather…A Qatari LNG tanker struck near Hormuz. Oil is up 1.5 percent. The real number to watch is the insurance premium.Every time a ship takes a hit near the Strait of Hormuz, the market reprices two things simultaneously: the barrel and the route. Yesterday's strike on a Qatari gas tanker pushed oil up roughly 1.5…Oil heads for a quarterly loss and Morgan Stanley's glut warning has teethBrent crude is on course for a quarterly decline, with Morgan Stanley citing OPEC+ production increases, weaker Chinese industrial demand, and a US economy consuming less energy per unit of output …US equity futures edge higher as Iran risk coolsS&P 500 futures advanced modestly in Asian hours, tracking the Iran ceasefire signal and a constructive close from last Friday. Gains are thin given residual uncertainty on the Fed path and this we…Oil extends its slide as Hormuz traffic resumes post-peace talksBrent is falling again this morning as tanker traffic through the Strait of Hormuz picks up following the Iran-US ceasefire diplomacy. The risk premium that briefly pushed oil higher when Hormuz lo…Hormuz reopens. Oil heads for its worst week since the crisis began.The largest oil supply shock since the 1970s is unwinding faster than most traders priced in, and crude is paying the price. Brent has dropped roughly 27% over the past month, falling toward the mi…India's EV sales are up 30% since the Gulf crisis. The structural shift is now self-reinforcing.A 50-60% oil price spike was, it turns out, all India needed to tip its EV market into a new gear. The Financial Times reports EV sales up as much as 30% since the Hormuz crisis began, with the sur…Saudi supertankers are moving again. The oil market is pricing the deal before it is signed.Saudi supertankers heading for the Gulf of Oman is the physical confirmation of what crude futures already priced on Thursday: the US-Iran preliminary framework is real enough that shipping operato…The oil shortage narrative just inverted. A glut is already formingThe market spent months pricing a sustained supply crisis. The mechanism that would have caused it is now unwinding faster than the consensus assumed. A preliminary US-Iran deal includes an immedia…US futures bounce after tech selloff as Iran strikes endUS equity futures rebounded in early Thursday trading after Wednesday's sharp tech-led pullback, with confirmation that US military strikes on Iran had been completed swiftly helping to cool oil pr…Alberta proposes 1m barrel pipeline 'corridor' to bypass tanker banThe province will submit a general corridor concept to Ottawa's Major Projects Office by July 1 rather than a fixed route for its proposed northern BC pipeline. Indigenous Relations Minister Rajan …Southeast Asian yield curves may steepen on oil-driven fiscal pressureRising energy prices are widening the spread between short and long-term government bond yields across Indonesia, Thailand, Malaysia and the Philippines as markets price higher inflation and larger…India scrambles to stem oil shock damageOil at $115+ per barrel is hammering India's currency and equity markets as foreign investors pull billions from Indian assets. The rupee hit a record low of ₹93.41 per dollar while the Nifty 50 dr…UK cuts Russian oil cap as US eases sanctionsThe UK lowered its oil price cap on Russian crude from $60 to $47.60 per barrel while the US temporarily loosened restrictions for 30 days to contain fuel prices amid Iran-related supply disruption…Hong Kong hedge fund dumps AI for oil tankersA Hong Kong-based hedge fund is rotating out of AI stocks into oil tanker equities, arguing that artificial intelligence companies are overspending on capex while shipping offers better risk-adjust…European airfares set to rise as fuel refining capacity tightensIATA's Willie Walsh called higher European airfares "inevitable" as Middle East refining constraints push jet fuel premiums above crude oil gains. Aviation Week reports fuel typically represents 20…Iran rejects nuclear halt, keeps Hormuz closedTrump's 14-point peace proposal died yesterday after Iran's counterproposal ignored every nuclear concession the White House demanded. Tehran's response, delivered after a 10-day wait, focused enti…Oil crashes 10% as Iran reopens Hormuz, but Trump keeps the squeezeIran declared the Strait of Hormuz fully open Friday after seven weeks of closure, triggering the sharpest oil sell-off since March 2022. WTI fell to $84.95 per barrel while Brent dropped to $90.87…Gold steadies after two-day drop as oil stokes inflation fearsGold's safe-haven appeal is losing to inflation fears as US-Iran talks stall and the Strait of Hormuz remains closed. Higher oil prices from the supply disruption are driving expectations of prolon…Goldman raises oil forecast as Hormuz disruption drags onGoldman expects Brent crude to hit $71 per barrel in Q4, up from its previous $66 forecast, but warns of $140 spikes if the Strait stays closed. The bank models 21 days of low flows followed by 30-…Stocks extend rally on Iran peace talk reportsThe S&P 500 stayed on track for its fourth straight weekly gain, the longest streak since October 2024, as reports emerged of Trump sending envoys to Pakistan for weekend talks with Iran's foreign …Trump extends Iran truce as oil markets stay skepticalTrump extended the Iran ceasefire while maintaining naval blockades, sending oil prices into whipsaw trading around $82 per barrel. Peace talks have stalled over sanctions relief, with Iran demandi…Iran closes Strait of Hormuz as oil breaks $80Twenty percent of global oil flows through the Strait of Hormuz, and Iran just shut it down again. European gas futures jumped 12 percent overnight after Iranian forces seized what Trump claims was…Indian officials warn Iran war oil shock could match Covid disruptionSenior Indian government officials privately estimate a full Iran conflict could push oil to $150 per barrel, matching the economic disruption of Covid lockdowns. India imports 85 percent of its cr…