Brent

Goldman says refiners stock up as oil hits 6-month high

Refiners are buying crude ahead of what they see as "a high probability of a sharp drop in supply," according to Daan Struyven, co-head of global commodities research at Goldman Sachs The Goldman Sachs Group, Inc.. Brent hit its highest…

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Brent dips below $100 as Gulf oil exports rebound

Brent crude fell below $$100 a barrel on Tuesday, October 6. Shipping data showed Gulf oil exports climbing back toward pre-war levels, and a Group of Seven agreement to release emergency reserves added barrels to the market. Brent fell more…

Hormuz tanker crews offered up to $25,000 per trip

Gulf oil producers are paying record amounts to keep crude moving through the Strait of Hormuz. According to The Wall Street Journal, some sailors are being offered as much as $25,000 for a single round trip into the Persian Gulf,…

Oil tanker rates top $1 million a day for the first time

The cost of hiring a supertanker on the world's most heavily trafficked oil route surpassed $1 million a day for the first time on Monday, a marker of how deeply the Iran war has fractured global shipping networks and strained…

Oil drops toward $75-$80 on Iran-Oman Hormuz deal hopes

Oil prices fell for a third consecutive day on Thursday after Iran announced it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, pushing crude toward its lowest levels since the conflict began…

EIA says global oil output to recover to pre-war levels by year-end

The U.S. Energy Information Administration said Tuesday that global crude oil production and trade flows are expected to return to near pre-conflict levels by the end of 2026, with most shut-in production from the Iran war restored during the first…

Saudi Aramco cuts Asia crude prices by most in 26 years

Saudi Aramco cut the August official selling price of its flagship Arab Light crude for Asian buyers by $11 per barrel, setting it at a $1.50 discount to the Oman/Dubai benchmark — the steepest monthly reduction in at least 26…

Saudi oil exports near pre-war levels as Hormuz shipments surge

Saudi Arabia is shipping crude oil through the Strait of Hormuz at its highest rate since the waterway reopened under the interim U.S.-Iran peace deal, with flows approaching pre-war levels in what marks the clearest sign yet that Persian Gulf…

Analysts cut 2026 oil forecasts as Gulf output rebounds faster than expected

Global oil prices have fallen sharply to pre-war levels as production across the Persian Gulf recovers at a pace that has surprised analysts, just weeks after the United States and Iran agreed to a ceasefire and the Strait of Hormuz…