Bank of America analysts have raised their estimates for Brent crude prices in the second half of 2026, citing ongoing geopolitical tensions. The bank lifted its forecast to $95 a barrel from $83 a barrel
A total of 17 commodity vessels transited the Strait of Hormuz over the weekend, down from 37 a week earlier, shipping data showed, as tension in the Gulf persisted with the US and Iran in stalemate
The Energy Information Administration (EIA) reported that U.S. crude oil inventories decreased last week while gasoline and distillate stocks grew. distillate stocks grew. Crude oil stockpiles dropped by 640,000 barrels to reach 423.4 million barrels during the week that ended on September 11
Brent crude futures for November delivery rose 2.2% to above $108 a barrel in London, as markets continued to monitor tensions in the Middle East
Goldman Sachs said oil prices may rally to as much as $120 a barrel if attacks on shipping in the Middle East rise, and it recommended bets on natural gas and diesel as a way to capture gains
Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said, as renewed hostilities in the Middle East disrupt supplies and plunge the world deeper into an oil-market deficit
OPEC oil output rose further in July, a Reuters survey found, as Gulf members restored supplies that were shut due to the Iran war and effective closure of the Strait of Hormuz
Oil prices edged lower as investors assessed signs that the Gulf states and Iran are moving closer to an agreement to reopen the Strait of Hormuz under a temporary arrangement designed to pave the way for broader negotiations aimed at ending the regional conflict
Russia slightly increased crude and condensate output in July from June by around 100,000 barrels per day (bpd) to above 9 million bpd, supported by strong oil exports and a recovery in refinery throughput
OPEC+ said that seven of its key members agreed to raise oil production by 188,000 barrels per day (bpd) in September as part of ongoing efforts to support market stability
