Topic
crude
60 stories related to this topic, newest first.
cnbc.combusiness7 hrs ago
Saudi Arabia Considers East-West Pipeline Expansion by 2 Million Barrels Daily
Saudi Arabia is evaluating an increase of up to 2 million barrels per day in the capacity of its East-West crude pipeline. The project would route additional volumes from eastern fields to the Red Sea terminal at Yanbu. Preliminary talks have included Kuwait and other neighbors.
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middleeasteye.netfinance15 hrs ago
Two Saudi crude tankers head toward Strait of Hormuz while most traffic remains blocked after Iranian warnings
Two very large crude carriers owned by Japanese companies are approaching the Strait of Hormuz with 4 million barrels of Saudi oil. The movement follows a partial reopening of the waterway after a mid-June ceasefire between the U.S. and Iran.
middleeasteye.netfinance17 hrs ago
Saudi Arabia Cuts Oil Prices to Asia by Up to $11 per Barrel After Record May Highs
Saudi Arabia reduced its official selling prices for crude oil to Asian customers by as much as $11 per barrel on July 6. Other Gulf exporters made deeper cuts to move stored barrels while Iranian supplies returned to the market. Weak Asian demand has shifted leverage toward buye…
South China Morning Postworld18 hrs ago
China's Crude Oil Demand Expected to Peak This Year
Executives from the country's largest oil firm said demand will slow as electric vehicle use cuts transport fuel consumption. The shift follows disruptions in the Strait of Hormuz that moved the market into a supply deficit.
freepressjournal.infinance18 hrs ago
India's June fuel use fell 3.7% from May while crude imports hit a record 5 million barrels a day
India's total fuel consumption declined to 19.24 million metric tons in June 2026, down 3.7% from May and 3.1% from June 2025. Gasoline and diesel sales rose year-on-year while crude imports hit a record 5 million barrels per day. OilPrice.com reported the figures from India's oi…
middleeasteye.netfinance1 day ago
Saudi Arabia Lowers July Crude Price for Asian Buyers After Hormuz Flows Resume
Saudi Arabia reduced its key crude oil price for Asian customers on July 6 amid resumed flows through the Strait of Hormuz and higher OPEC+ output.
freepressjournal.infinance15 hrs agoUpdated
Russian Urals Crude Averages $41.66 per Barrel in Early July
Russian Urals crude averaged $41.66 a barrel during the first three days of July. The price matches pre-conflict levels and removes the revenue increase Moscow recorded after shipping through the Strait of Hormuz resumed.
pbs.orgworld1 day ago
Saudi Aramco Cuts Arab Light Price by $11 per Barrel for August
Saudi Aramco will sell Arab Light crude at a $1.50 discount to the benchmark, the first such move since 2020. The record reduction follows a surge in global supply after the mid-June US-Iran peace deal reopened the Strait of Hormuz.
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business1 day ago
Court Bars Broadcaster From Publishing Athletes' Group Chat Messages
Three professional athletes obtained a temporary court order preventing the ABC from reporting on private messages that included crude descriptions of sexual acts and domestic violence. The messages were obtained after an ex-partner photographed the group chat and shared it with…
livemint.comfinance2 days ago
OPEC+ to Raise Output Quotas by 188,000 Barrels per Day in August While Keeping Part of 2023 Cut in Place
Seven core OPEC+ members will add 188,000 barrels per day to production targets starting next month. The step continues five straight months of increases as Brent crude prices sit near $72 a barrel.
Japan Timesbusiness1 day agoUpdated
UAE Restores Pre-War Crude Exports Through Hormuz Before Final US-Iran Deal
The United Arab Emirates restored its crude shipments through the Strait of Hormuz to pre-war volumes by the time the US and Iran signed their interim peace deal. Fortune reported that the UAE used dark transits with tankers leased from Sinokor Group to achieve the recovery. Sino…
forexlive.comfinance2 days ago
CME Group to offer 10-barrel crude contract after Iran war draws retail traders
The exchange will introduce a smaller contract size following increased retail trading activity in crude oil futures. The change comes after the Iran conflict prompted more individual investors to place bets on oil prices.
politics4 days ago
Oil companies report second-quarter profits
Exxon Mobil and Chevron are expected to post second-quarter earnings more than triple their first-quarter results. The gains follow a rise in crude prices after supply disruptions in global energy markets.
finance4 days agoUpdated
Justice Department Urges State Probes Into Gasoline Price Practices
Federal agencies sent a letter to state attorneys general asking them to examine whether oil companies are keeping pump prices high. The letter cites recent crude price drops and existing antitrust statutes.
cnbc.comfinance4 days ago
India Crude Stocks Reach 104 Million Barrels After Record June Imports
India's total crude inventories reached 104 million barrels by the end of June 2026. Imports hit a record 5 million barrels per day that month, with 2.6 million barrels per day sourced from Russia.
moneycontrol.comfinance4 days ago
Oil prices hold near $71.76 a barrel
Brent crude futures traded near $71.76 a barrel on Friday after slipping only slightly during the week. Traders cited expectations of a U.S.-Iran agreement as the main factor supporting prices.
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dailyalert.orgworld4 days ago
TotalEnergies Offers Millions of Barrels of Iraqi Crude for Prompt Delivery to Asia
TotalEnergies is offering unspecified volumes of Basrah Medium and Basrah Heavy crude for loading from Basrah and delivery to buyers in China, South Korea, and Taiwan this month and next. Traders who received the offers told Bloomberg on Friday that the French company is also see…
benzinga.comfinance4 days ago
Alberta and Ottawa Approve New Oil Pipeline to Pacific Coast
Alberta Premier Danielle Smith and Prime Minister Mark Carney announced a new pipeline that will carry Canadian crude to southwestern British Columbia. The project aims to increase access for Canadian producers to Asian markets.
moneysense.caworld4 days ago
Canada Advances Plan for New Oil Export Route to Asia
Canadian officials moved Thursday to develop a new export corridor that would carry crude oil from domestic reserves to Asian buyers. The step opens a potential alternative to existing Pacific shipping lanes.
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news.google.comfinance5 days ago
UAE Shifts Offshore Crude Pricing to Dubai Benchmark
The UAE is linking some offshore medium-sour grades to the Dubai benchmark instead of Murban futures. The change removes destination restrictions and uses the Habshan-Fujairah pipeline to reach Asian buyers.
bloombergquint.comfinance5 days ago
Oil Prices Hold Near $68 per Barrel as Hormuz Traffic Recovers to About Half Pre-Conflict Levels
Crude oil remained steady near $68 a barrel with tanker traffic through the Strait of Hormuz recovering after an interim U.S.-Iran peace deal. Saudi exports reached about 90 percent of pre-war levels while UBS cut its Brent forecasts.
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cnbc.comworld5 days ago
Iranian Crude Tankers Lack Buyers After Sanctions Waiver
More than 58 million barrels of Iranian oil remain on the water with over 90 percent lacking a confirmed destination. Chinese refiners have reduced purchases amid lower run rates and financing concerns.
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theiranproject.comfinance5 days ago
Saudi Arabia Crude Exports from Persian Gulf Reach Highest Level Since Strait Blockade
Saudi Arabia is shipping the largest volume of crude oil from inside the Persian Gulf since the Strait of Hormuz was blocked during the Iran conflict. The increase follows an interim peace agreement between Washington and Tehran.
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theiranproject.comfinance5 days ago
Four Supertankers Carry 8 Million Barrels of Saudi Crude Through Gulf of Oman
Four supertankers loaded at Ras Tanura appeared in the Gulf of Oman on Thursday. The vessels are moving crude through a U.S.-administered corridor in Omani waters as traffic through the Strait of Hormuz increases.
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theiranproject.comfinance5 days agoUpdated
Saudi Arabia Routes More Crude Through Strait of Hormuz While Also Using Bypass Pipeline
Saudi Arabia has raised crude oil shipments by loading tankers inside the Persian Gulf while also increasing flows through its East-West pipeline. About 10 million barrels cleared the strait in recent days, with multiple supertankers heading to buyers in Asia.
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ndtv.comfinance5 days ago
Chinese Private Refiners Buy Saudi, Emirati and Iraqi Crude Cargoes
Three unnamed Chinese private refiners purchased Middle East crude on the spot market this week as benchmark prices fell. Bloomberg reported the transactions citing trading sources.
dailywire.comfinance5 days ago
Russia Begins Seaborne Gasoline Imports From India to Ease Shortages
Russia has started receiving gasoline shipments from India by tanker after Ukrainian drone strikes damaged refineries and created fuel shortages. At least 60,000 metric tons have already been dispatched in two tankers. India simultaneously set a record for crude oil imports from…
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investopedia.comfinance6 days ago
U.S. Crude Oil and Petroleum Output Reached Record in April
Total U.S. production of crude oil and petroleum products rose 254,000 barrels per day in April to 21.84 million barrels per day. Crude oil production alone increased 216,000 barrels per day to a record 13.93 million barrels per day.
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theiranproject.comfinance6 days ago
Oil Prices Fall After Iran Declines Direct Talks With U.S. in Qatar
Brent crude futures traded 0.3 percent lower at $72.72 per barrel on Wednesday. West Texas Intermediate futures fell 0.5 percent to $69.17. The moves followed Iran's statement that it would not meet U.S. delegates for talks in Qatar.
benzinga.comfinance6 days ago
Brent Crude Falls Nearly 40 Percent in Second Quarter
Crude oil prices recorded their steepest quarterly drop since 2020 as Brent shed close to 40 percent. Traders cited optimism over a potential U.S.-Iran peace deal, though tanker traffic through the Strait of Hormuz remained below pre-conflict levels.
indiatoday.intoday.infinance7 days ago
India Crude Imports Hit June Record With Russian Share at 54 Percent
Indian refiners took in about 5 million barrels per day of crude in June. Russian volumes reached 2.6 million barrels per day, the highest share on record.
themarketherald.com.aufinance7 days ago
U.S. Crude Oil Production Reached Record 13.934 Million Barrels Per Day in April
Monthly data from the U.S. Energy Information Administration showed output rose 216,000 barrels per day above March. The increase followed a temporary price spike tied to the Iran conflict and Hormuz closure.
cnbc.comfinance7 days ago
Brent Crude Heads for 30% Quarterly Drop as Hormuz Traffic Recovers
Brent crude prices are on track for a 30.4% decline in the second quarter of 2026, the largest quarterly drop since the first quarter of 2020. The decline follows a U.S.-Iran agreement that allowed tanker traffic through the Strait of Hormuz to resume.
thegatewaypundit.comfinance7 days agoUpdated
Retailers May Maintain Elevated Prices as Crude Costs Fall
President Trump posted on Truth Social on June 30 demanding immediate price reductions at gasoline retailers. The national average price stood at $3.85 per gallon.
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rigzone.comworld7 days ago
India State Refiners Plan to Cut Middle East Crude Share and Increase Other Sources After Iran War
India’s state oil refiners intend to cut dependence on Middle East supplies after the Iran war supply shock. They will shift toward alternative sources. @business reported the development.
moneycontrol.comfinance8 days ago
WTI Crude Oil Rises 2.2 Percent to Settle at 70.75 Dollars a Barrel
WTI crude settled at 70.75 dollars a barrel after gaining 2.2 percent. Brent crude rose 1.6 percent to 73.15 dollars a barrel following the U.S.-Iran agreement.
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rigzone.comfinance8 days ago
U.S. Crude Oil Stocks in Strategic Petroleum Reserve Drop to Lowest Level Since 1983
Crude oil inventories held in the U.S. Strategic Petroleum Reserve declined by 5.5 million barrels last week to 325.7 million barrels. The total is the lowest recorded since 1983.
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moneycontrol.comfinance8 days ago
Brent Crude Falls More Than 20 Percent in a Month as Hormuz Shipping Resumes
Brent crude prices dropped from triple digits to around $72 a barrel after the Strait of Hormuz reopened to commercial traffic. OilPrice.com reported that an interim U.S.-Iran agreement and recent strikes have left shipping under daily quotas with elevated insurance costs.
moneycontrol.compolitics8 days ago
WTI Crude Oil Falls Below Pre-Denuclearization Levels to $69 per Barrel
Oil prices have declined in recent trading sessions and now sit at $69 per barrel. The current level is lower than prices recorded before the start of the denuclearization of Iran.
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moneycontrol.comfinance8 days ago
Middle East Oil Output Rebounds to 15 Million Barrels Daily After Ceasefire, but New Strikes Reported
Crude production across the region recovered to between 14.6 million and 15 million barrels per day earlier this month. Rystad Energy now projects a quicker return to pre-war levels than previously expected.
finance8 days ago
Nigeria Fuel Regulator Tells Sellers to Maintain Prices
The Federal Competition and Consumer Protection Commission said it found only marginal price cuts at pumps despite lower global crude prices. The commission stated it will investigate any evidence of anti-competitive conduct. Petrol import costs fell to N983.92 per litre while ma…
finance9 days ago
Crude Oil Prices Fall as Tankers Exit Strait of Hormuz After U.S.-Iran Ceasefire
Oil prices declined after the United States and Iran reached a 60-day ceasefire. Tankers are leaving the Persian Gulf, and some cargoes are trading at discounts.
finance9 days ago
Oil Prices Rise After Fresh U.S.-Iran Airstrikes
Brent crude gained 1.9 percent at the open while U.S. stock-index futures advanced modestly. Markets reacted to reports of renewed airstrikes between the United States and Iran.
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vanguardngr.comworld8 days agoUpdated
U.S. and Iran Exchange Strikes on Shipping and Coastal Sites; Technical Talks Status Unclear
Iran attacked two cargo ships near Oman on Thursday, including one carrying over 2 million barrels of crude. U.S. forces struck Iranian missile and drone sites on Friday and Saturday, after which Iran launched counterstrikes at U.S. sites in Bahrain and Kuwait.
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america.cgtn.comfinance9 days ago
China Meets Iran Official in New Delhi, Reduces Crude Imports to Nine-Year Low
Chinese Foreign Minister Wang Yi met Iran's deputy national security official in New Delhi. He pledged continued assistance and reconstruction support while China reduced oil imports after the late-February conflict.
news.google.compolitics9 days ago
Ukraine Drone Strikes Cut Russian Refinery Output but Russian Crude Exports Hit 2026 High
Ukraine conducted nearly 70 strikes on Russian energy assets in the first five months of 2026. Russian daily refined oil output fell by up to 700,000 barrels per day in April and May.
The Independentworld9 days ago
Ukrainian Drones Strike Moscow Oil Refinery for Second Time in Three Days
Ukrainian drones hit an oil refinery in Moscow last week in the second such attack in three days, The Independent reported. The strikes form part of a broader campaign that has reduced Russian refining capacity and crude output.
hedgeco.netfinance10 days ago
Hedge Funds Reduce Crude Oil Net Positions to 179 Million Barrels
Money managers trimmed their combined net position across three main crude oil futures and options contracts to 179 million barrels on June 23. The cut follows a memorandum of understanding between Iran and the United States to reopen the Strait of Hormuz. The position sits at th…
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indianexpress.comworld10 days ago
Japan Orders Energy Action Plan by August End After U.S.-Iran Deal
Prime Minister Sanae Takaichi directed industry minister Ryosei Akazawa to complete an energy action plan by the end of August. The move follows a U.S.-Iran memorandum of understanding that has eased global crude oil prices.
theiranproject.comfinance10 days ago
Saudi Aramco Resumes Crude Loadings at Ras Tanura After Four-Month Halt
Saudi Aramco restarted crude loadings at its Ras Tanura terminal on Friday after nearly four months, shipping data showed. Two VLCCs loaded while two more approached or waited nearby. Global oil prices fell more than $1 a barrel the same day.
The Hillpolitics11 days ago
Gasoline Prices Remain Elevated as Crude Oil Returns to Pre-War Levels
National average gasoline prices stood at $3.90 per gallon on Friday, nearly $1 above late February levels, while the U.S. benchmark WTI crude oil traded near $69 per barrel. The gap follows a U.S.-Iran memorandum of understanding that reopened the Strait of Hormuz after earlier…
theiranproject.comfinance11 days ago
Tanker Rates for Saudi Crude to China Drop 44 Percent While Hormuz Transits Remain Below Normal After Attack
Rates on the Saudi Arabia-to-China route dropped to $287,000 on June 26 from more than $514,000 three days earlier. Persian Gulf exports reached 75 percent of pre-war levels after an interim U.S.-Iran peace deal, with 75 million barrels shipped since the agreement.
business11 days ago
Kazakhstan Cuts Gas Output at Karachaganak After Drone Strike on Russian Plant
Kazakhstan reduced natural gas production by one quarter at the Karachaganak field following a Ukrainian drone attack on Russia's Orenburg gas processing plant. Energy Minister Yerlan Akkenzhenov confirmed the cut on Friday while stating domestic supplies remain intact. Oil outpu…
benzinga.comfinance11 days ago
Chinese Crude Oil Imports Projected at 6.4 Million Barrels per Day in June 2026
June 2026 imports are forecast to average 6.4 million barrels per day, an 8 percent drop from May. The decline marks the weakest monthly pace in nearly a decade amid reduced demand after the war.
thehindubusinessline.comfinance11 days ago
QatarEnergy Offers First Crude Tender Since February via Transfers East of Strait of Hormuz
QatarEnergy offered buyers three grades of crude for July and August loadings via ship-to-ship transfers east of the Strait of Hormuz. The tender closes June 29 and marks the first such Qatari offering since the Iran war began. ADNOC and Kuwait have also increased Middle East sup…
theiranproject.comfinance11 days ago
Shipping Traffic Through Strait of Hormuz Rises After U.S.-Iran Deal
Transits reached the highest weekly total since February as vessels moved stored crude. An attack on a container ship off Oman prompted the United Nations to pause its evacuation plan.
pravdareport.compolitics11 days ago
Saudi Arabia Reopens Ras Tanura Oil Port After Four-Month Suspension
@MarioNawfal reported that Aramco resumed crude loadings at the world's largest oil port on June 26 following the U.S.-Iran ceasefire. Two supertankers were loading and a third was waiting. Exports had fallen sharply during the closure.
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theiranproject.comfinance11 days ago
Saudi Arabia Loads Four Supertankers at Once in Persian Gulf
Four supertankers are loading crude oil simultaneously at two terminals in the Persian Gulf. Two began loading yesterday at Ju'aymah single-point moorings and two more started this morning at Ras Tanura.
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etftrends.comfinance11 days ago
Oil Prices Fall Toward Weekly Loss Despite Iranian Strike and Persistently Low Hormuz Traffic
Brent crude traded at $73.78 per barrel and West Texas Intermediate at $70.53 on June 26. An Iranian strike on a vessel in the Strait of Hormuz prompted a 2 percent price reversal but did not halt the traffic rebound. Earthquakes in Venezuela raised separate supply concerns.
financialpost.comfinance12 days ago
Asian Refiners Cut Spot Purchases of Middle East Crude for June and July
Asian buyers have reduced spot orders of UAE, Saudi, and Iraqi crude after a three-week period of heavy purchases. High freight and insurance costs linked to Strait of Hormuz uncertainty have reduced the price advantage of Middle Eastern grades.