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oil
Gulf oil exports top 10M bpd in June on record UAE flows
Oil prices held steady near recent lows as Gulf oil exports jumped sharply in June, driven by record shipments from the United Arab Emirates, though lingering regional tensions continued to cloud the outlook for the waterway that carries roughly a…
Citi projects Brent crude falling to $60 by year-end
Citigroup analysts are recommending traders sell into any summer oil price rallies, projecting Brent crude will fall to $60–$65 a barrel by year-end as the geopolitical risk premium built up during the Strait of Hormuz crisis continues to unwind.
Wright says U.S. can keep Hormuz open without Iran deal
U.S. Energy Secretary Chris Wright declared on Wednesday that Iran will not be able to close the Strait of Hormuz, asserting that the American military can ensure oil continues to flow through the critical waterway regardless of the outcome of…
Mexico seeks to restart oil shipments to Cuba amid crisis
Mexican President Claudia Sheinbaum announced on Sunday that her country is seeking to restart oil shipments to Cuba, as the Caribbean island faces a humanitarian emergency driven by months of fuel deprivation that has shuttered schools, suspended hospital surgeries, and…
US Treasury issues 60-day license for Iranian oil sales
The U.S. Treasury Department on Monday issued a sweeping 60-day general license authorizing the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products through August 21, in what amounts to the broadest sanctions waiver on Iranian energy…