A cadre of Greek shipping magnates has stepped back into the fold as the go-to distributors of Moscow's crude to the world.
Oil prices were on track to end the week down more than 1% on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output hike.
Oil prices were mixed in the early Asian session, but may be weighed by a larger-than-expected decline in U.S. crude inventories.
The oil market got a dose of predictability this week
Eight OPEC+ members have been rapidly unwinding a set of voluntary production cuts in recent months. These output trims were implemented separately from the broader OPEC+ group's production policy.
Crude oil prices rally as OPEC+ weighs supply hikes and U.S. tariffs ease—bullish oil outlook supported by tightening inventories and geopolitical risks.
Natural gas and oil prices surge as OPEC+ supply cuts and geopolitical tensions stoke market volatility and fuel a bullish price outlook.
Oil rises amid positive market sentiment after a federal trade court struck down President Trump's tariffs.
Market focus has shifted toward potential supply hikes from eight OPEC+ members that have been carrying out separate voluntary production cuts.
Chevron, ConocoPhillips and other companies are locked in a dispute with six Central African countries over fossil-fuel projects.
The crude oil markets continue to see a lot of buyers on dips, and we have seen more of the same on Wednesday in the early hours of trading.
Crude oil holds steady as traders await OPEC+ output decision and supply risks mount from Venezuela sanctions and Canadian wildfires.