Investors turned back to risk on hopes that a peace deal between the U.S. and Iran would soon be agreed, with the Nasdaq and S&P 500 looking to extend record highs.
Income from production is expected to rise significantly, TotalEnergies said, reflecting a surge in prices during the Middle East tumult.
Crude oil remains range-bound as supply disruptions, geopolitical tensions, and mixed macro signals maintain a risk premium while ongoing US–Iran negotiations keep the market volatile and without a clear direction.
Thai state-owned energy company PTT has offered a larger volume of high-sulphur fuel oil (HSFO) for loading in May than in previous months, according to market sources.
China's crude oil throughput in March dropped 2.2% year-on-year, official data showed on Thursday, as the Iran war curbed refinery runs, while domestic crude output hit a record high.
Oil fell in early trade on prospects of further U.S.-Iran negotiations that could lead to reduced supply disruptions in the Middle East.
Costly repairs in the Middle East point to a slow recovery — a condition that may result in crude prices staying higher for longer.
The U.S. Commodity Futures Trading Commission is investigating a series of oil futures trades that were placed shortly before major policy shifts by U.S. President Donald Trump related to the war in Iran, a person familiar with the matter said on Wednesday.
Economists' forecasts from a WSJ survey on the outlook for growth, inflation, oil prices and recession risks following the Iran war.
Commercial crude oil stocks excluding the Strategic Petroleum Reserve were down by 913,000 barrels, the EIA said. Analysts surveyed by The Wall Street Journal had predicted a 900,000 barrel increase in crude stocks.
Crude prices are mixed after President Donald Trump said the war in Iran is ‘very close to being over'
Oil prices nudged below $95 a barrel and U.S. stock futures were flat in placid early European trade, amid investor optimism around U.S.-Iran peace talks this week.