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Today Markets Analysis: WTI crude oil fell sharply before recovering part of its losses as reports of diplomatic efforts surrounding the Strait of Hormuz reduced some of the immediate supply-risk premium in oil markets. However, severely depleted global inventories, disrupted Gulf production and elevated freight costs continue to provide an important floor beneath prices. WTI […]
Today Markets Analysis: US natural gas futures edged lower on Friday as a larger-than-expected weekly storage build reinforced concerns over adequate supply, although persistent heat across parts of the United States and strong electricity demand continue to provide underlying support. October Nymex natural gas futures (NGV26) closed 0.003 lower, or 0.11%. The latest developments are […]
Today Markets Analysis: WTI crude oil prices retreated on Friday following Thursdayโs sharp 6.7% rally, as traders weighed deteriorating global demand expectations against mounting concerns over Middle East supply disruptions. October WTI crude oil futures (CLV26) closed $2.43 lower, or 2.37%, while October RBOB gasoline (RBV26) fell 8.60 cents, or 2.53%. For the latest energy-market […]
Brent crude slipped below $105 a barrel on Friday but remained almost 9% higher for the week as investors weighed diplomatic efforts to ease tensions around the Strait of Hormuz against continued fighting across the Middle East. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts […]
US heating oil prices climbed to around $5.12 per gallon, their highest level on record, amid persistent tight distillate supplies. EIA data showed that US distillate stockpiles, which include diesel and heating oil, rose by 2.1 million barrels in the week ended September 4, but remained 13% below the five-year average, indicating that inventories remain […]
European natural gas prices rose above โฌ82/MWh on Friday, their highest level since December 2022, amid persistent disruptions to LNG supplies from the Persian Gulf. Fighting between the US and Iran has intensified over the past two weeks, centering on who controls the Strait of Hormuz. The ongoing blockade has already disrupted around 20% of […]
European gas prices are rising, with the front-month TTF contract climbing above โฌ79/MWh on Wednesday morning to its highest level since December 2022. The USโIran war is restricting LNG availability as Europe prepares for winter with unusually low inventories. At the same time, high near-term delivery prices are making storage less profitable and hampering efforts […]
European natural gas prices steadied at โฌ79/MWh on Thursday, hovering close to its highest level in more than three years, amid rising concerns over the regionโs gas supply outlook. European gas inventories remain below historical norms as escalating attacks in the Middle East continue to disrupt LNG shipments through the Strait of Hormuz, a critical […]
Crude prices maintain their bullish tone on Wednesday, as the situation in the Middle East risks escalating into an all-out regional war. The US Benchmark West Texas Intermediate (WTI) has retraced previous losses to hit fresh three-month highs at $92.70, with the early-June highs of $94.87 in sight. The war in Iran escalated to a […]
Brent crude rose above $99 a barrel on Wednesday, reaching its highest level in nearly seven weeks and approaching the key $100 threshold after Iran said it had struck two American vessels and eight oil tankers in the Gulf. The escalation heightened concerns over further disruptions to global oil supplies. Tehran also launched ballistic missiles […]
