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WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
Oil prices are higher this morning, shrugging off the well-telegraphed (and practically useless) SPR release.
"Oil prices remain volatile and risk sentiment fragile and trading is on the headlines and rapidly evolving conflict in the Middle East," noted Neil Wilson, Saxo UK investor strategist.
And while, the main drivers of crude prices remain more global, the domestic supply and demand situation remains noteworthy based on its impact on gasoline (pump) prices.
API
Crude -1.7mm (+1.1mm exp)
Cushing
Gasoline -1.8mm
Distillates -2.3mm
DOE
Crude +3.82mm (+1.1mm...
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Mar 6, 2026 / Tyler Durden
Futures, Global Markets Tumble As Oil Soars Amid Fears Of Lenghty Energy Crisis
Futures, Global Markets Tumble As Oil Soars Amid Fears Of Lenghty Energy Crisis
Seven days into the war on Iran and markets are getting increasingly shaky. US equity futures tumbled ahead of the February jobs report, and are on pace to close the worst week for global markets since 2020 deep in the red as the selloff in global bonds deepened after another jump in oil prices fanned fears that the war in the Middle East is fueling inflation. As of 8:00am ET, S&P 500 futures were 0.7% lower while contracts on...
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May 13, 2026 / Tyler Durden
Qatar Asks Vessels At Key LNG Port To Go Dark for Safety
Qatar Asks Vessels At Key LNG Port To Go Dark for Safety
Submitted by Charles Kennedy of OilPrice.com
Qatar has requested LNG vessels near its Ras Laffan LNG port to switch off their transponders as part of safety measures at the key export port of the world’s second-largest LNG exporter before the war, anonymous sources with knowledge of the plan told Bloomberg on Tuesday.
The de facto closure of the Strait of Hormuz has trapped about 20% of daily global LNG flows, mostly those previously shipping out of Qatar and part of...
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Jun 10, 2026 / Kyle Anzalone
Trump Says Iran Refused to Make a Deal, Will Now ‘Pay the Price’
President Donald Trump claimed that Iran has been militarily defeated and will not pay the price for refusing to negotiate. “Iran’s Military is a complete and total mess. Much of it, like their Navy and Air Force, doesn’t even exist anymore – They have been completely defeated. Iran is all talk and no action,” the […]
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