Keywords: Crude oil
The average price of diesel fuel in the United States has risen above $6 per gallon for the first time, marking a new record as higher crude oil prices and growing geopolitical tensions put additional pressure on the American energy market. According to fuel price tracking data, the sharp increase comes......
Global oil demand could decline by around 1.5 million barrels per day in 2026 compared with the previous year, according to Russell Hardy, chief executive of global energy trading company Vitol. Hardy made the forecast during the Asia-Pacific Petroleum Conference in Singapore, as geopolitical tensions......
Goldman Sachs has raised its oil price forecasts for 2026 and 2027, citing the possibility that disruptions to shipping and energy supplies in the Middle East could continue into next year. The investment bank now expects Brent crude to reach $85 a barrel in December 2026, while US West Texas Intermediate......
Goldman Sachs has warned that crude oil prices could surge to as much as $120 a barrel if attacks on commercial vessels in the Middle East intensify, highlighting the growing risks facing global energy markets amid mounting geopolitical tensions. Dan Struyven, co-head of Global Commodities Research......
Initial shipping data indicates that commercial traffic through the Strait of Hormuz remains significantly below normal levels amid heightened tensions and renewed fighting between the United States and Iran. Four commodity-carrying vessels crossed the strategic waterway on Thursday, down from nine......
U.S. President Donald Trump has said oil shipments passing through the Strait of Hormuz have almost recovered to the levels recorded before the latest escalation with Iran, pointing to a significant improvement in commercial traffic through the strategically important waterway. In a post on his Truth......
The United States' Strategic Petroleum Reserve has fallen to its lowest level in more than four decades, according to the latest data released by the U.S. Department of Energy. The reserve held approximately 286.6 million barrels on August 28, marking its lowest recorded level since November 19,......
More than 660 million barrels of crude oil have reportedly crossed the Strait of Hormuz aboard commercial tankers since early May, despite continuing security concerns and threats to maritime traffic in one of the world's most important energy corridors. According to U.S. Central Command, American......
The International Monetary Fund is preparing to send a team to Uganda in September for renewed discussions on a potential financial support programme, as the East African economy seeks to strengthen its public finances while preparing for a major shift linked to the expected start of crude oil production. The......
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