Saudi Arabia, the world's biggest oil exporter, may raise its August crude oil prices for buyers in Asia to the highest in four months, after spot prices surged during the Iran-Israel conflict and on robust summer fuel demand, trade sources said.
WTI and Brent crude oil are consolidating after dropping from their respective resistance levels and appear poised for further declines, while natural gas shows a consolidation pattern above $3
OPEC+ eyes a 411k bpd output hike in August—can WTI hold above $65 as demand weakens and triangle support faces pressure?
Oil prices fell 1% on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August boosted the supply outlook.
Bearish oil outlook ahead as OPEC+ output jumps, demand growth slows, and geopolitical premiums fade, keeping crude oil futures under sustained pressure.
The fraught politics of carbon capture are dividing the oil industry.
Russian President Vladimir Putin said on Friday the OPEC+ group of leading oil producers including Russia projects rising global demand especially in the summer months, in comments suggesting the bloc may continue with large output hikes.
WTI crude rebounds to $65.65 after $13 drop but faces resistance near $67. Oil markets await OPEC meeting and U.S.–China trade signals.
Alexis Crow, Chief Economist at PWC U.S. says higher Treasury yields are a "very clear perspective" this year and going into 2026. She also talks about how structural changes in demand could push oil prices back up again.
The Israel-Iran truce fails to permanently reduce geo-political uncertainties weighing on an already subdued economic outlook for Europe, but the crisis's impact on Europe's economy is limited for now.
Oil prices have tallied steep losses so far this week, pulling back sharply from gains seen at the start of the Israel-Iran conflict less than two weeks ago.
DAX holds firm near 23,550 as traders monitor Iran-Israel ceasefire, tariff threats, and Fed rate signals ahead of key US economic data.