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Crude oil fell toward $90.5 a barrel on Tuesday after the US ordered another release from its emergency reserves and as Saudi Arabia’s crude exports recover. The US will offer up to 40 million barrels from the SPR in an exchange, effectively a loan that companies repay with interest. The Energy Department said the prog
Reuters lists regional market factors including oil, gold, Gulf stocks, Iran talks, sanctions waivers and company briefings.
ADNOC and Kuwait Petroleum Corp have increased naphtha shipments to Asia in recent months via ship-to-ship transfers outside the Strait of Hormuz. Trade data and traders said the flows are helping Asian petrochemical producers lift output.
ADNOC and Kuwait Petroleum Corp increased naphtha shipments in August and September via ship-to-ship transfers outside the Strait of Hormuz, helping Asian petrochemical producers raise output. Trade data showed combined Gulf exports rose to about 5 million tons in the two months.
The Nasdaq hit a record closing high, boosted by AI stocks, while falling oil prices and retreating Treasury yields improved risk sentiment. European shares rallied, led by banks and tech, and Asian markets were mixed, with Japan higher and China/Hong Kong up on hopes of a trade truce.
Global stocks rose, led by AI-linked tech shares, while oil fell on reports more supply was leaving the Gulf than previously thought. The note also listed closing levels for major equity, bond, currency and commodity markets.
() -- Kuwait's crude oil production surged to 1.65 million barrels per day in June, up from 580,000 b/d the previous month, as the OPEC member ramps up exports following a US-Iran peace deal, Reuters reported Thursday, citing industry sources. The increase indicates that oil flows through the Gulf are rebounding after
Iranian crude exports are surging via the Hormuz Strait as activity picks up