WTI

WTI holds near three-week high as Hormuz tensions outweigh US inventory surge

West Texas Intermediate crude oil held near a three-week high at the close of trading on Friday, August 21, as geopolitical supply risks continued to outweigh bearish inventory data from the United States. WTI futures settled at $87.06 per barrel…

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…

Asian refiners ship Middle Eastern crude to California amid Gulf oil glut

Surging Persian Gulf crude output is upending traditional oil trade flows, with Asian refiners redirecting Middle Eastern barrels to destinations as unlikely as California and Hawaii — a sign that the post-war rebalancing of global energy markets is proving more…