THE HALFAX HEIMDALL AUGUR

BREAKING: US oil inventories rise, but Brent crude is already testing nearly 80 USD https://www.europesays.com/3116693/ Key inventory changes (weekly) Crude oil inventories: +3.00 million barrels (a decline of about 1.1 to 1.6…

Brent Crude Falls Below $60: Market Crisis Analysis BYMUFLIH HIDAYATON DECEMBER 17, 2025 The global petroleum landscape has entered a phase of dramatic realignment, with theBrent crude price dropaccelerating through traditional support levels that previously provided market stability. December 2025 witnessed Brent crude futures falling to$59.96 per barrel, marking the first breach below the psychologically critical $60 threshold since May 2025. This decline represents a continuation of broader pricing pressures that have characterised the energy complex throughout 2025. Market fundamentals indicate that global oil surplus conditions have reached2.1 million barrels per day, representing a substantial increase from 2024's average surplus of0.8 million barrels per day. These inventory builds occur against a backdrop of storage infrastructure operating at elevated utilisation rates, with OECD inventory levels currently providing95 days of coveragecompared to the 2024 average of88 days coverage. The magnitude of current price pressures becomes apparent when examining the trajectory from 2024 baseline conditions. Brent averaged approximately$79.80 per barrelthrough 2024, establishing…

Oil prices drop about 3% on expected global supply growth - CNBC Oil prices fell about 3% on Monday after Iraq's Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC+ plans another oil output hike in November, adding to global supplies. Brentcrude futures fell $2.16, or 3.08%, to close at $67.97 a barrel after settling at the highest since July 31 on Friday. U.S.West Texas Intermediatecrude settled at $63.45 a barrel, down $2.27, or 3.45%. "Ongoing fears of production increase are limiting gains, but a tight near term outlook has crude prices in a vice as the trading week begins," said Michael McCarthy, CEO of investor platform Moomoo Australia and New Zealand. Crude oil flowed on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2-1/2 years, after an interim deal broke a deadlock, Iraq's oil ministry said. The agreement between Iraq's federal government, the Kurdistan regional government (KRG) and foreign oil producers operating in the region will allow 180,000 to 190,000 barrels per day of crude to flow to Turkey's Ceyhan port, Iraq's oil minister told Kurdish broadcaster Ruda…

IMF outlines oil price resilience as Brent crude trades 3 percent above ... Published:Fri 5 Jun 2026, 12:23 PM Last updated:Fri 5 Jun 2026, 12:30 PM The International Monetary Fund (IMF)stated that oil prices are currently only about 3 percent higher than the levels used in its baseline global growth forecast in April. However, physical spot prices remain highly volatile, and global reserves continue to fall. Benchmark Brent crude futures prices have fallen in recent days, dropping to about $94.79 for August delivery on Thursday, while contracts for December delivery were trading at $86.18. The IMF’s World Economic Outlook global growth “reference forecast” issued in April, which projected a 3.1 percent global real GDP growth in 2026, was based on an average oil price of $82.22 per barrel for the year. The April forecast, issued after prices spiked higher in March, assumed a quick end to the conflict, with prices projected to fall to about $76 for 2027. On the exact date that the forecast was released, Brent crude was trading at $94.80. IMF spokesperson Julie Kozack told a regular news briefing that stability in oil prices remains heavily dependent on reopening the Strait of …

Brent crude tops $91 in biggest weekly oil rally since 2022 Brent breaks $90 as war premium takes hold Brent crude blew past $90 a barrel on Friday after President Donald Trump demanded unconditional surrender from Iran, adding fresh fuel to a rally that has already rewritten the record books this week. The global benchmark climbed 5.65% to $91.06, while WTI crude shot up 7.97% to $88.98. The numbers for the week tell the story. Brent gained roughly 26% and WTI about 30%, the steepest weekly advance for both benchmarks since the early months of the Russia-Ukraine war in 2022. Hormuz shutdown grinds into second week Shipping through the Strait of Hormuz, the 21-mile-wide chokepoint between Iran and Oman, has all but stopped. Tanker tracking data shows a 70% plunge in vessel traffic since Operation Epic Fury began on February 28, and more than 150 ships are anchored outside the strait waiting for safe passage that may not come soon. About 20.5 million barrels of oil pass through the waterway on a normal day. That is roughly one-fifth of global consumption. With that flow choked off, the market has scrambled to reprice risk at a speed not seen in years. Iran's Islamic Revolutionary G…

🛢️ #Oil "Brent crude is heading for its biggest weekly drop in two months as markets bet on a 60-day ceasefire extension and partial reopening of the Strait of Hormuz. ICE Brent is set to post its largest weekly loss in two months, dropping by almost 10%, as media reports present a 60-day…"

Citi Warns Oil Could Plunge to $60 by Year-End as Wall Street Turns ... After a dramatic reversal in international oil prices during the second quarter, major Wall Street investment banks have turned increasingly pessimistic on the outlook. Citigroup's latest report forecasts that as shipping through the Strait of Hormuz gradually normalizes, Brent crude prices could fall further to the $60 to $65 per barrel range by year-end, and recommends investors take advantage of any summer rallies to sell into strength. Citi analyst Francesco Martoccia stated explicitly in the report that global energy markets are rapidly returning to normal, with fundamentals reasserting control over price movements. He wrote: "Shipping flows are normalizing, Chinese buyers remain absent, physical crude markets have softened substantially, and inventory draws are far below expectations." The report emphasized that both the U.S. and Iran are showing genuine signs of conflict fatigue, while potential disruption sources such as Lebanon are also being constrained by a broader U.S. preference for de-escalation. Citi expects the current Memorandum of Understanding to be converted into a formal agreement in the …

Oil hits $90 per barrel, has biggest weekly gain on record Add NBC News to Google Oil prices surge at record pace 01:43 Get more news Live on Share Add NBC News to Google March 6, 2026, 9:36 AM EST / Updated March 6, 2026, 4:16 PM EST By Steve Kopack U.S. crude oil recorded its biggest weekly gain on record, dating back to the inception of the West Texas Intermediate oil contract in March 1983, as the escalating Iran war threatens global energy supplies. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. On Friday alone, U.S. crude oil spiked more than 12% to more than $91 per barrel, its highest price since late 2022. Since the start of the year, the price of U.S. crude has risen nearly 60%. Brent, the international oil benchmark, broke $94 per barrel as it jumped more than 9% to its highest level since late 2023. The move in prices came amid growing fears that the Iran war could lead to long-term energy supply issues. A report from The Wall Street Journal said that Kuwait had "begun cutting production at some oil fields after running out of room to store its bottled-up crude." NBC News was not immediately able to verify the repor…

Brent Crude Oil Prices Could Hit $130/Barrel This Summer As Hormuz Disruption Nears Breaking Point https://www.europesays.com/3060700/ Crude oil prices have held below $100 per barrel despite prolonged disruptions to flows through the Strait of…

Brent slips on US-Iran deal, situation may ease for India Brent crude slipped to nearly $83 per barrel Monday, a significant development for India, which imports nearly 88% of its crude oil requirement. The rate at which Indian refiners procure crude, was recorded at $86.77 per barrel Friday, the latest available price, and is expected to decline following the fall in global energy prices.

🔴 [MIDEAST] FITCH PREDICTS BRENT CRUDE WILL REMAIN AT USD 100-110 PER BARREL IN JUNE AND JULY DURING HORMUZ CLOSURE, THEN DROP TO AROUND USD 70 PER BARREL BY SEPTEMBER. ... - $SOURCE$ ⚡ Live alerts: https://t.me/tickertap_alerts

Brent unlikely to fall below $70 after reopening of Strait of Hormuz — expert "If Middle Eastern oil supplies return quickly, a reasonable target range through the end of the year would be $70-75 per barrel," Research Director at Implementa Maria Belova said

Oil prices ease as OPEC+ increases production, Hormuz traffic rebounds Brent crude, the international benchmark, fell 0.15% to $71.87 a barrel as of 8:07 a.m. EDT after dropping as low as $71.09 earlier in the session, its lowest level since before the US-Israel-Iran war began on Feb. 28.

oil price today: Why are oil prices down now, and will Brent, US WTI ... ETMarkets.com Why are oil prices down now, and will Brent, US WTI crude futures continue to drop or rise again? Traders react to supply risks after UAE exits OPEC and Hormuz blockade impacts global shipping. Why are oil prices down now, and will Brent, US WTI crude futures continue to drop or rise again? Oil markets moved lower after several days of gains as traders assessed fresh geopolitical and supply signals. Brent and US West Texas Intermediate crude dipped slightly as investors reacted to new developments. The decision of the UAE to exit OPEC raised expectations about future supply levels. At the same time, tensions involving the United States and Iran continue to affect shipping and exports. Statements linked to Donald Trump and reports by The Wall Street Journal added new uncertainty for traders across global markets. Why are oil prices down now, and will Brent, US WTI crude futures continue to drop or rise again? Oil prices slipped slightly on Wednesday after a strong rally. Traders began to digest the impact of the UAE decision to exit OPEC. Brent crude for June dipped slightly after seven sessions …

Citigroup Projects Brent Crude Could Fall to $60 Per Barrel Citigroup’s call for Brent crude to fall toward $60 per barrel by year-end is less a directional price forecast than a statement that geopolitical risk premiums are proving transient while underlying market fundamentals remain decisively bearish. The rapid normalization of shipping through the Strait of Hormuz suggests that the market is moving beyond pricing disruption risk and returning to a framework dominated by supply-demand balances, inventory dynamics, and physical market conditions. The key institutional signal is that energy markets continue to distinguish between headline risk and sustained impairment of global supply. The recent conflict temporarily elevated crude prices by embedding a geopolitical insurance premium into futures markets. As commercial shipping resumes, insurance markets recalibrate, and logistical bottlenecks clear, that premium is disappearing far faster than many participants anticipated. Price action increasingly reflects confidence that the global energy system retains significant operational resilience, even after periods of acute geopolitical stress. Citigroup argues that several fundamen…

Citi sees Brent crude sliding to $60 as supply fears ease Listen to this article in summarized format Listen Loading... × × Subscribe to Unlock AI Briefing and Premium Content New Year Offer 24 Hours Left Subscribe Now Already a member? Sign In What's Included Exclusive Stories Daily ePaper Access Smart Market Tools Curated Investment Ideas Ad-lite Experience Subscription ETMarkets.com Citi expects brent crude to slide towards $60 a barrel by year-end as geopolitical tensions around the Strait of Hormuz ease, Bloomberg reported. Global energy markets are gradually returning to normal as shipping through the Strait of Hormuz resumes, improving near-term crude supplies after refiners scrambled to secure alternative sources during the conflict. As supply concerns eased, oil prices tumbled, with Brent crude erasing all the gains made during the war after a 30% fall. US Markets Powered By As on 03 Jul 2026, 01:30 AM IST S&P 500 Top Gainers Genuine Parts 132.57 (12.92%) Moderna 79.76 (10.01%) Equifax 172.07 (6.10%) Vertex Pharmaceuticals 528.04 (6.03%) Gainers » S&P 500 Top Losers Teradyne 369.09 (-13.63%) KLA 235.55 (-11.51%) Corning 196.79 (-10.81%) Seagate Technology Hldgs 820.16 (-1…

Saudi Aramco Slashes Asian Oil Prices in Steepest Cut for 26 Years July 06, 2026Ahmet Koçak Aramco tanks and oil pipe at Ras Tanura oil refinery in Saudi Arabia, May 21, 2018 - Reuters Editor Saudi Aramco is set to implement its deepest oil price reduction for Asian buyers in at least 26 years as mounting global supply pressures intensify market competition. The state-owned producer will slash the August price of its Arab Light crude by $11 a barrel. This adjustment applies a $1.50 discount to the grade relative to the regional benchmark. Industry analysts surveyed by Bloomberg had initially anticipated a smaller reduction of just $8. Global crude markets have faced intense downward pressure since mid-June. A diplomatic agreement between the U.S. and Iran halted regional combat operations, reopening the vital Strait of Hormuz. The strategic maritime chokepoint had been effectively sealed since the outbreak of hostilities. Brent crude valuations have subsequently plummeted to approximately $72 a barrel. Prices have now retreated to levels last seen in late February, immediately prior to the military campaign launched by the U.S. and Israel against Iran. An impending inf…

BREAKING: US oil inventories rise, but Brent crude is already testing nearly 80 USD https://www.europesays.com/3116693/ Key inventory changes (weekly) Crude oil inventories: +3.00 million barrels (a decline of about 1.1 to 1.6…

Citi expects oil prices to fall to $60 as the situation in the Strait ... Home · News 03.07.2026 18:46 Share Citi expects oil prices to fall to $60 as the situation in the Strait of Hormuz returns to normal The bank advises investors to take profits on any summer rallies Yana Zakomoldina Reporter Citigroup analysts recommend taking profits on oil during any summer rallies. Photo: Leka Sergeeva/Shutterstock Citigroup forecasts that the price of Brent crude could fall to $60 per barrel by the end of the year as shipping traffic through the Strait of Hormuz returns to normal. This forecast adds to a series of “bearish” expectations regarding the global commodities market, according to Bloomberg. What Citi Expects Citigroup analysts recommend taking profits on oil during any summer rallies, as they expect the price of Brent to fall to $60–65 per barrel by the end of the year, according to Bloomberg. As of Friday, July 3, the price is holding steady at $71.92. Brent has not fallen below the psychological threshold of $60 since January. The resumption of shipping through the Strait of Hormuz boosted short-term supplies, providing refineries with additional volumes of feedstock, Bloomber…