JPMorgan forecasts China will resume large-scale crude oil purchases in August, boosting demand as the Hormuz Strait reopens to normal traffic.
Tag: Oil
Oil Prices Head for 8% Weekly Fall as Iran Ceasefire Calms Markets
Crude oil dropped toward $77 a barrel on June 20, erasing nearly all gains since the Iran-Israel war began, as ceasefire news eased supply fears.
India Rupee Expected to Strengthen on Iran Peace Deal as Oil Price Drop Cuts Import Bill
Indian markets anticipated a significant drop in global crude oil prices following news of the U.S.-Iran memorandum of understanding which would benefit the rupee significantly.
US Inflation Driven by Iran-Related Oil Price Surge
US gas prices surged due to the conflict with Iran helping push overall US inflation to its highest level in three years.
US Imposes New Iran-Related Sanctions Targeting Entities Individuals and LPG Tankers
The US Treasury Department announced fresh sanctions against Iranian-linked entities and oil tankers as pressure on Tehran continued.
Saudi Arabia Announces New Oil Production Quotas as OPEC+ Navigates Iran War Uncertainty
Saudi Arabia set new production targets as OPEC+ nations struggled to coordinate strategy amid the volatility caused by the US-Iran conflict.
Global Oil Prices Fall on Iran Deal Optimism Offering Temporary Relief to Indian Refiners
Brent crude slipped as diplomatic signals from the US-Iran talks reduced near-term supply disruption fears.