Natural gas breaks $6.25 as oil holds near $61, with traders eyeing $7 gas and $65 Brent amid geopolitical risk and bullish technical signals.
Russian fuel oil exports to Asia slowed in early 2026 as rising scrutiny due to tighter Western sanctions hampered trade while Ukrainian drone attacks on refining facilities in Russia reduced output, according to shipping data and industry sources.
Oil prices extended gains on Monday after climbing more than 2% in the previous session, as tensions between the U.S. and Iran kept investors on edge even after Kazakhstan's main export pipeline resumed full operations.
South Korea's S-Oil , whose main shareholder is Saudi Aramco , on Monday said it expects first-quarter refining margins to remain robust due to steady demand, supply disruption and the planned closure of a U.S. refinery.
Oil fell in the early morning Asian session on a possible technical correction after WTI and Brent settled 2.9% and 2.8% higher, respectively, on Friday.
A crude tanker chartered by Trafigura departed on Sunday from Venezuela's Jose port to Louisiana Offshore Oil Port (LOOP), LSEG data and documents showed, the first cargo going directly to the U.S. as part of a 50-million-barrel supply deal agreed this month between Caracas and Washington.
Iran supply risk escalates as U.S. sends warships and sanctions target oil exports. Crude oil futures break key average, signaling extended rally ahead.
The United States is in talks with Chevron , other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday citing senior administration officials.
The first naphtha cargo for Venezuela as part of an oil deal agreed between Caracas and Washington this month arrived on Friday in the country's waters in a tanker chartered by trading house Vitol, ship tracking data showed.
U.S. President Donald Trump's renewed threat against Iran have stoked fears of possible supply disruption in the oil-rich Middle East. Oil prices were trading higher on Friday morning after Trump said a U.S. "armada" was heading toward the Gulf region.
U.S. control of Venezuela's oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country's path out of default.
Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against major Middle Eastern producer Iran, raising concerns of military action that could disrupt supplies.