India's state-run Hindustan Petroleum has bought 2 million barrels of Angolan oil via a tender, three trade sources said, as reduced availability of costly Middle Eastern oil leads Indian refiners to shift to West African and Asia-Pacific grades.
Crude oil continues to watch the war and the latest shipping obstructions in the Persian Gulf.
Yields on the 2-year note suggest the Federal Reserve won't be cutting rates for a very long time.
Removing oil sanctions on stranded Iranian oil would get supplies to Asia within three or four days, U.S. Energy Secretary Chris Wright said on Friday.
Israel said it would not target energy infrastructure anymore after being told by the U.S. president not to.
Oil benchmarks may have found a ceiling so long as the conflict in the Middle East doesn't cause damage to key energy infrastructure.
Prediction market traders are pricing in a 65% chance that crude oil will still be above $100 a barrel at the end of this month, with Brent already trading at $103.54 following the closure of the Strait of Hormuz. The data comes from Polymarket, a blockchain-based prediction platform where users bet real money on outcomes, giving its probability readings unusually high credibility as a market signal.
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WTI holds $93 as Middle East risks sustain a price premium. Will a move into the Strait of Hormuz push Brent toward a $114 breakout?
The U.S. Treasury Department has extended a sanctions waiver for Serbia's Russian-owned NIS until April 17, giving the Balkan country more time to import crude oil amid the U.S.-Israeli war on Iran, Serbia's energy minister said on Friday.
Japan may start stockpiling U.S. oil domestically, Prime Minister Sanae Takaichi said during her visit to the United States, as it looks to diversify procurement and strengthen energy security.
Oil prices fell and Asian equities were mixed Friday, amid easing concerns over oil supply disruptions