Oil Markets Whipsawed by Conflicting U.S.-Iran Signals
Claim Deputy Minister Helped Iran’s Oil Sales Companies are prioritizing dividends, buybacks,… International companies are flocking back… Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.… Oil prices head for a 7% weekly loss as traders struggle to price in conflicting signals from U.S.-Iran talks and ongoing Middle East attacks.
Oil prices are set for a 7% weekly loss after markets remain confused about the outlook of a potential US-Iran negotiated settlement.
ICE Brent is set to close the week at $101 per barrel, even as missile strikes and drone hits continue to sap any quick diplomatic breakthrough between Washington and Tehran.
Meanwhile, the CFTC announcing it would investigate Trump’s war-related Truth Social posts will most probably lower the likelihood of yet another Friday price plunge.
Iranian Navy Arrests Its Own Tanker.Iran has seized the oil tanker Ocean Koi that was routinely sending Iranian fuel oil to the UAE's port of Fujairah,claimingan alleged attempt to 'disrupt the country's oil exports by exploiting regional conditions', escorting the vessel to the southern coast of Iran.
Chinese Tanker Gets Into US-Iran Crossfire.Marking the first instance that a Chinese-owned ship wastargetedin the ongoing conflict between the US and Iran, Chinese media reported that an oil product tanker was attacked on Thursday off the UAE coast, despite the ship signalling 'China owner & crew'.
BP Pulls the Trigger on Company Reorganization.Meg O'Neill, the incoming chief executive of UK oil major BP (NYSE:BP),reportedlytold staff that her suggested reorganization plan to carve the company into two main business units - upstream and downstream - would start as early as this June.
Beijing Asks Banks to Halt Loans to Sanctioned Refiners.China's financial regulator NFRA hasaskedthe country's largest banks to temporarily suspend new loans to the five refineries recently sanctioned by the US over their alleged imports of Iranian oil, contrasting earlier mandates to disregard sanctions.
Europe Unlikely to Meet Its Own Restocking Target.According to Europe's largest natural gas supplier, Equinor, the continent will not be able toreplenishits depleted natural gas inventories - currently only 34% full - to reach a targeted 80% filling level before the start of next winter, pushing prices higher.
Saudi Arabia Disappoints Buyers with Small Price Drop.The Saudi national oil company Saudi Aramco (TADAWUL:2222) has set the June-loading formula price for its Asian deliveries at a $15.50 per barrel premium to Oman/Dubai, marking a $4 per barrel drop despiteexpectationsof a $10-15 per barrel cut.
Australia to Reserve 20% Domestic Gas Supplies.Australia’s governmentconfirmedits new gas reservation policy this week, requiring LNG exporters to reserve at least 20% of their natural gas output for the domestic market from July 2027 onwards.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | ▲ +0.34% |
| WTI Crude | $96.90/bbl | ▲ +0.21% |
| EN590 Diesel | $846/MT | ▲ +0.18% |
| Jet Fuel A-1 | $1090/MT | ▲ +0.55% |
| Mazut M100 | $450/MT | ▼ -0.15% |
| Bitumen 60/70 | $470/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $470/MT | ▼ -0.44% |
| Urea 46% Gran | $650/MT | ▲ +1.12% |
| NPK 16-16-16 | $460/MT | ▼ -0.28% |
| Nat Gas TTF | $15.42/MMBtu | ▲ +0.92% |
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