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PetrolOilPrice.com

China’s Oil Giants Begin Selling Crude as Refinery Cuts Deepen

The trading arms of some of China’s biggest state-owned oil giants have started selling crude for May loadings in a rare move from the majors that have cut refinery rates in response to soaring oil prices and constrained crude supply from the Middle East. Sinopec, the world’s biggest refiner by capa

CRUDE
PetrolFXStreet News

Brent: Pullback phase and key levels – Societe Generale

Societe Generale strategists note that Brent has retreated from recent highs after President Trump extended the Iran ceasefire indefinitely, with Oil prices still seen on an uncertain path back toward normalisation.

BRENT
PetrolFXStreet News

EUR/CAD steadies below 1.6050 as improved oil prices lift Canadian Dollar

EUR/CAD extends its losing streak for the sixth consecutive day, trading around 1.6040 during the European hours on Wednesday.

BRENTWTI
PetrolOilPrice.com

Iran’s Covert Oil Trade Persists Despite U.S. Blockade

Iran continues to export its oil out of the Persian Gulf via the Strait of Hormuz using dark mode on tankers to move past the U.S. blockade outside the world’s most vital oil chokepoint. At least two Iran-flagged supertankers fully laden with an estimated about 4 million barrels of crude have exited

CRUDE
PetrolFXStreet News

WTI Oil eases to $87.50 amid a fragile US-Iran ceasefire

Crude prices edged lower on Wednesday following US President Donald Trump's unilaterally announced extension of the ceasefire on Tuesday.

WTICRUDE
PetrolFXStreet News

Oil: Brent supported near USD100 on Hormuz risks – MUFG

MUFG's Senior Currency Analyst Lloyd Chan notes that stalled US–Iran talks and an extended United States (US) ceasefire have shifted the conflict into a prolonged standoff, with a continued blockade of Iranian ports.

BRENT
PetrolFXStreet News

USD/CAD Price Forecast: Holds above 1.3650 as softer Oil prices counter USD weakness

The USD/CAD pair fails to capitalize on the previous day's modest recovery from the 1.3630 region, or its lowest level since March 13, and remains on the back foot during the Asian session on Wednesday.

BRENTWTI
PetrolFXStreet News

Asian stocks mixed, Hang Seng falls on US–Iran talks, oil worries

Asian equities perform mixed amid uncertainty over US–Iran peace talks. US Vice President JD Vance canceled his visit to Islamabad after Tehran declined talks via Pakistan.

BRENTWTI
PetrolFXStreet News

UK inflation set to jump to 3.3% in March due to higher energy prices

The United Kingdom (UK) Office for National Statistics (ONS) will publish the high-impact Consumer Price Index (CPI) data for March at 06:00 GMT.

BRENTWTI
PetrolFXStreet News

US Treasury Secretary Bessent says blockaded Kharg Island will be 'full' of oil in days

US Treasury secretary Scott Bessent said on Wednesday that the United States Navy will continue the blockade of Iranian ports, warning that constraints on maritime trade are aimed at targeting Iran’s main revenue sources.

BRENTWTI
PetrolFXStreet News

WTI drifts lower to mid-$88.00s; bears seem hesitant amid US-Iran peace talks uncertainty

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the previous day's strong rally and trades with a mild negative bias during the Asian session on Wednesday.

WTICRUDE
PetrolOilPrice.com

Iraq Turns to Risky Overland Routes as Oil Exports Collapse

Iraq has been facing a critical oil export crisis since tanker traffic through the Strait of Hormuz largely seized up. About a month ago, Iraq reached a temporary agreement with Iran to allow its ships to sail through the waterway; however, additional war risk premiums for Persian Gulf transits have

BRENTWTI
PetrolOilPrice.com

Iran War Has Cost The World $50 Billion of Lost Oil Supply, So Far

Seven weeks after the war in the Middle East began, the world has already lost 500 million barrels of oil supply, equal to around $50 billion at an average price of $100 per barrel, around which futures prices have been hovering since February 28. The losses are enormous and continue to pile up as t

BRENTWTI
PetrolOilPrice.com

Qatar LNG Disruption Triggers Power Crisis in Pakistan

Pakistan has been at the center of media coverage of the Middle East war as the country that took up the initiative to moderate peace talks. It also happens to be the country arguably most hurt by the war without being directly involved in the hostilities. Pakistan is a big importer of liquefied nat

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