Traders believe that the risks of a U.S. strike against Iran persist.
Donald Trump's comments indicated that U.S. should not attack Iran in the near term.
Here is how National Energy Services Reunited (NESR) and W&T Offshore (WTI) have performed compared to their sector so far this year.
Oil markets wait for the potential U.S. attack on Iran.
Rising geopolitical tensions pushed oil prices to multi-week highs.
Protests in Iran provide additional support to oil markets.
U.S. hunt for Venezuela-linked tankers and unrest in Iran raise supply worries.
Oil and natural gas prices slide on oversupply fears as 30–50M barrels loom. Traders eye key support in WTI, Brent, and natural gas near $3.40.
U.S. crude fell more than 1% on Wednesday after U.S. President Donald Trump said Venezuela will be "turning over" 30 million to 50 million barrels of sanctioned oil to the United States.
WTI crude oil tests the 50-day average as futures traders weigh real buying, Oil Demand signals, and resistance levels in a cautious Oil Outlook.
Saturn Oil & Gas expects strong free cash flow in 2026, even at $60 WTI, supporting continued net debt reduction. SOIL:CA guides for 39,000-41,000 boe/d production in 2026, with 81% liquids, and C$350M adjusted funds flow at $60 WTI. Despite a net debt target of C$645-695M, SOIL:CA maintains a manageable leverage ratio just over 1.5x EBITDA and prudent capital allocation.
Oil markets are losing ground as traders focus on rising supply and ignore geopolitical risks.