Energy

SPOT GOLD FALLS 1% TO $4,496.47/OZ

ICE and OKX to Launch Perpetual Oil Futures Based on Brent and WTI Bloomberg reported that Intercontinental Exchange (ICE), owner of the NYSE, is partnering with crypto exchange OKX to launch perpetual oil futures tied to Brent crude and W

FED'S BARKIN: COULD TAKE MONTHS FOR GAS PRICES TO FALL EVEN WHEN STRAIT OF HORMUZ IS REOPENED

OPEC+ LIKELY TO AGREE OIL OUTPUT QUOTA HIKE OF 188,000 BPD AT JUNE 7 MEETING, SOURCES SAY

NEWLY FORMED MANHATTAN URANIUM RECEIVES APPROVAL TO DRILL AT NEVADA'S LARGEST PAST PRODUCING MINE

TRUMP TO DELAY PHASEOUT OF REFRIGERANTS, HYDROFLUOROCARBONS

TRUMP: VENEZUELAN OIL COMING TO TEXAS, LOUISIANA AND ALASKA

🚨 *US CRUDE INVENTORIES INCLUDING SPR DROP BY MOST ON RECORD: EIA

U.S. DIESEL FUTURES EXTEND LOSSES, DOWN 3.8%, AFTER EIA STORAGE REPORT U.S. GASOLINE FUTURES LOSSES, DOWN 3.5%, AFTER EIA STORAGE REPORT

OIL REFINING IN CENTRAL RUSSIA HAS BEEN EITHER HALTED OR SCALED BACK IN RECENT DAYS FOLLOWING UKRAINIAN DRONE ATTACKS - SOURCES AND DATA

ADNOC CEO: IT WILL TAKE AT LEAST 4 MONTHS TO GET BACK TO 80% OF PRE CONFLICT FLOWS

ADNOC CEO: HORMUZ SHUT MOST SEVERE SUPPLY DISRUPTION ON RECORD

🇬🇧UK PM STARMER TO EXTEND THE FREEZE IN FUEL DUTY FOR THE REST OF THE YEAR

*UK TO DELAY 5 PENCE FUEL DUTY HIKE DUE SEPT: PERSON FAMILIAR

CITI SAYS THAT FOR A RERUN OF 1970S OIL SHOCK STRAIT OF HORMUZ MAY NEED TO REMAIN CLOSED EARLY 2027

*CITI SAYS OIL UNDERPRICED ON TAIL RISKS *CITI EXPECTS BRENT TO HIT $120 NEAR TERM *CITI FORECASTS 2027 OIL AT $80–90 BASE CASE *CITI SEES BRENT BULL CASE AT $150

🇺🇸 President Trump says the rise in gas prices is "peanuts" and "very temporary."

$TSLA - TESLA IS BUILDING ITS GIANT SOLAR PANEL FACTORY IN HOUSTON - ELECTREK

- TRUMP: THERE MAY BE OTHER INITIATIVES TO KEEP GAS PRICES IN CHECK

NOVAK: RUSSIA TO BOOST OIL SUPPLIES TO CHINA VIA KAZAKHSTAN:IFX

OIL FUTURES TURN POSITIVE IN VOLATILE TRADE AS WORRIES ABOUT SUPPLY DISRUPTIONS OFFSET ECONOMIC CONCERNS

BRENT COULD HIT $90–$130 AS IRAN TENSIONS TIGHTEN SUPPLY Francisco Blanch of Bank of America said Brent crude’s best-case outlook is around $90 per barrel, with higher risks if tensions around Iran persist. He warned that tight global sup

IRAN PLANS TO REBUILD SOUTH PARS GAS FIELD IN TWO YEARS - ISNA

OIL TRADERS BET ON PROLONGED PRICE SPIKE Oil prices rose for a fourth straight day as Donald Trump warned Iran to reach a peace deal or face more attacks. With the Strait of Hormuz still heavily disrupted, traders are increasingly betting

OIL STOCKS FALLING FAST, IEA WARNS The International Energy Agency warned that commercial oil inventories are dropping rapidly and will keep falling in the coming weeks, IEA chief Fatih Birol said at the G7 finance ministers meeting in Par

US OIL HITS INTRADAY HIGH, TRADES NEAR $105.50/BBL

OIL PRICES RISE MORE THAN $3/BBL ON FEARS OF RENEWED US-IRAN COMBAT

ENERGY SECRETARY CHRIS WRIGHT SAYS US COULD 'EASILY' DOUBLE NATURAL GAS EXPORTS WITH NO IMPACT ON DOMESTIC PRICES

U.S. ENERGY SECRETARY WRIGHT: WILL LIKELY SEE MORE PIPELINES IN THE MIDDLE EAST

IRAN FOREIGN MINISTER: IRAN INTERESTED IN CONTINUING ENERGY BUSINESS WITH INDIA

BESSENT: IRAN OIL STORAGE FULL, PRODUCTION CUTS LOOM Scott Bessent said Iran’s oil storage is effectively full, warning Tehran may soon need to cut production amid disrupted exports. He said Iran has been unable to load tankers at Kharg I

HAPAG-LLOYD HIT WITH $60M WEEKLY COSTS FROM HORMUZ DISRUPTION Shipping giant Hapag-Lloyd says the Strait of Hormuz disruption is costing the company up to $60 million per week. CEO Rolf Habben Jansen said higher fuel costs and rerouting c

US EMERGENCY OIL STOCKPILE SEES RECORD DRAWDOWN The U.S. Strategic Petroleum Reserve fell by 8.6 million barrels last week, the largest weekly drop on record, as the Trump administration responds to ongoing energy market stress. The drawd

BRENT, US CRUDE FUTURES EXTEND GAINS AS EIA DATA SHOWS BIGGER-THAN-EXPECTED DROP IN CRUDE STOCKS

IMF WARNS $120 OIL COULD TRIGGER GLOBAL RECESSION IMF Managing Director Kristalina Georgieva warned that sustained oil prices of $120–$130 per barrel through 2027 could push the global economy into a technical recession. Speaking in Pozna

IRAN’S STANDOFF COULD PUSH OIL MARKETS TO THE EDGE Global oil inventories are falling toward 10-year lows, increasing the risk of sharp price swings and supply disruptions, according to UBS. The bank estimates global stockpiles dropped fr

EIA: OIL MARKET TO NORMALIZE BY 2027 DESPITE HORMUZ RISKS The U.S. Energy Information Administration expects global oil output and trade flows to return to pre-conflict levels by late 2026 or early 2027, even if disruptions in the Strait o

*COPPER HITS $14,000 A TON ON LME, NEARING ALL-TIME HIGH

TRUMP: SHIPS ARE COMING TO TEXAS, LOUISIANA TO LOAD UP WITH OIL

$TSLA - TESLA: TO INVEST EXTRA 250 MLN USD FOR ANNUAL PRODUCTION OF 18 GWH OF BATTERY CELLS IN GRUENHEIDE, GERMANY

UAE GAS MEGA PLANT SLASHED BY IRAN STRIKES, FULL RECOVERY NOT EXPECTED UNTIL 2027 A major UAE gas facility will not return to full capacity until 2027 after Iranian strikes damaged production, according to operator ADNOC Gas. The Habshan

PREMIUMS FOR RUSSIAN URALS OIL FALL TO $2-4/BL VS BRENT FOR JUNE DELIVERY CARGOES IN INDIAN PORTS ON WEAK REFINING MARGINS, SOURCES SAY

BRENT CRUDE FUTURES SETTLE AT $104.21/BBL, UP $2.92, 2.88 PCT

TRUMP: "AS SOON AS THIS IS OVER WITH IRAN, GASOLINE AND OIL WILL DROP LIKE A ROCK"

GERMANS SLASH ENERGY USE AMID PRICE SPIKE FROM MIDDLE EAST CRISIS About two-thirds of Germans are cutting energy consumption as prices rise due to the Middle East conflict, according to Verivox. A survey shows 52% are using less electrici

OPEC OUTPUT HITS 20-YEAR LOW AS HORMUZ CRISIS CHOKES EXPORTS OPEC oil production fell 830,000 barrels a day in April to 20.04 million bpd, the lowest level in more than two decades, as the Iran conflict and Strait of Hormuz disruption slas

TRUMP SAYS WE HAVE MASSIVE OIL

HORMUZ CLOSURE COULD REMOVE 100M BARRELS WEEKLY, SAYS ARAMCO CEO Saudi Aramco CEO Amin Nasser warned that a continued closure of the Strait of Hormuz could cut global oil supply by about 100 million barrels per week. He said the market ha

IRAN PROPOSES TO TRANSFER SOME URANIUM TO 3RD COUNTRY: WSJ

JUST IN: 🇸🇦 World's largest oil company Saudi Aramco reports higher profits in Q1 2026 despite Iran war.

IRAN URGES ENERGY SAVING AS US BLOCKADE BITES Iranian officials have urged people to cut electricity, gas and fuel use as US blockade measures disrupt shipments and deepen economic pressure. President Masoud Pezeshkian warned that lower e

JUST IN: Major oil and gas CEOs warn the global energy system will change significantly due to the war with Iran.

BRENT CRUDE FUTURES CLIMB $2/BBL ON FUTURE OF US-IRAN CEASEFIRE

RUSSIA SAYS IT IS MONITORING RADIATION SITUATION AFTER FIRES NEAR CHORNOBYL NUCLEAR POWER PLANT - RIA

JUST IN: 🇺🇸 President Trump says US has a lot of oil and is not facing any energy crisis.

*WTI CRUDE OIL OPENS 4% HIGHER ON FRESH US, IRANIAN CLASHES

SUSPICIOUS OIL TRADES BEFORE IRAN WAR HEADLINES TOPPED $7B: REUTERS Well-timed bets on oil markets ahead of major Iran war announcements totaled at least $7 billion, far more extensive than previously reported, according to Reuters. The t

OIL FUTURES EXTEND GAINS, BRENT CRUDE UP $1 A BARREL AND US CRUDE UP $2

OIL FUTURES PARE LOSSES; BRENT BACK UP OVER $100 A BARREL, US CRUDE TURNS POSITIVE AFTER WSJ REPORT SAYS IRAN REJECTS U.S. DEAL ON STRAIT OF HORMUZ AS UNREALISTIC

SHELL CEO SAYS THERE IS REAL POSSIBILITY THAT WE SEE CONTINUED BULLISHNESS ON OVERALL ENERGY PRICES FOR NEXT 6-12 MONTHS

CME Group to launch physical uranium futures contract in coming months

CME GROUP PLANS TO LAUNCH NEW PHYSICALLY BASED URANIUM CONTRACT IN COMING MONTHS, SOURCES SAY

SHELL WARNS OF 1 BILLION-BARREL CRUDE SUPPLY GAP Shell says the global oil market is facing a growing supply shortage of nearly 1 billion barrels, with the gap widening daily. CEO Wael Sawan said tight supply is driving high prices and we

U.S. CRUDE OIL FUTURES SETTLE AT $95.08/BBL, DOWN $7.19, 7.03 PCT

US GRID UNDER PRESSURE: AI DEMAND FORCES REDESIGN The US power grid overseen by PJM Interconnection (serving 67M people across 13 states) is no longer fit for purpose amid surging electricity demand from data centers, according to CEO Davi

FRENCH FINANCE MINISTRY: MOTOR FUELS CONSUMPTION IN FRANCE DROPPED 11% IN APRIL DUE TO DEMAND REDUCTION

*OPEC OUTPUT FELL TO NEW 36-YEAR LOW IN APRIL ON WAR: SURVEY

U.S. FUEL EXPORTS HIT RECORD HIGH U.S. oil product exports jumped to a record 8.2 million barrels per day, driven by surging diesel demand. With the Strait of Hormuz disrupted, global markets are increasingly relying on U.S. fuel supplies.

OIL RECOVERY WILL LAG ANY IRAN DEAL Even with a U.S.–Iran breakthrough reopening the Strait of Hormuz, oil markets may take 6–8 weeks to normalize. Rystad Energy says insurance repricing, shipping access, and rebuilding confidence will del

JAPAN TO BUY ANOTHER 20M BARRELS OF UAE OIL TO BYPASS HORMUZ BLOCKADE - NIKKEI

Brent crude oil crashes over 11% to $101.

U.S. GAS SURGES TOWARD RECORDS U.S. gas prices hit $4.54 per gallon—the highest since July 2022—after rising 30 cents in a week and over 50% since the Iran conflict began. Prices are nearing the $5.02 record. Oil fell on signs of diplomati

JUST IN: 🇺🇸 Average US gas price rises over $4.50 per gallon for the first time since 2022.

TRUMP: INCREASE IN FUEL PRICES IS SMALL PRICE TO PAY

Spirit Airlines says in court papers it was forced to shut down due to rising fuel prices.

FOLLOWING 2 SEASONS OF HITTING URANIUM IN 100% OF TARGETS, ATHA ENERGY LAUNCHES LARGEST-EVER CAMPAIGN AT ANGILAK

TRUMP: HUNDREDS OF MILLIONS OF BARRELS OF OIL ARE COMING OUT OF VENEZUELA

CHEVRON CEO SAYS OIL STORAGE 'BUFFERS' BEING DRAWN DOWN

Brent Crude oil rises 7% to $120 following Iranian attack on UAE.

SPOT GOLD EXTENDS FALL, LAST DOWN 2% AT $4,523.15/OZ

UKMTO SAYS THE CARGO VESSEL REPORTED A FIRE IN THE ENGINE ROOM, THE CAUSE OF THE FIRE IS UNKNOWN AT THIS TIME

OIL FUTURES EXTEND GAINS, US CRUDE UP $1 A BARREL, BRENT UP ALMOST $4 A BARREL, AFTER UAE SAID ITS AIR DEFENSE SYSTEMS ARE CURRENTLY RESPONDING TO A MISSILE THREAT

BESSENT: AWARE GAS PRICES AFFECTING AMERICANS BUT EXPECTING PRICES TO COME DOWN QUICKLY WHEN CONFLICT ENDS

*BESSENT: WORLD IN 8-10 MLN BARREL A DAY OIL DEFICIT

U.S. GIVES COMPANIES UNTIL 2 P.M. TO SUBMIT U.S. SPR SOLICITATIONS -ENERGY DEPARTMENT

QATARENERGY EXTENDED FORCE MAJEURE ON ITS LIQUEFIED NATURAL GAS SUPPLY THROUGH MID-JUNE

HORMUZ RISK PUTS GLOBAL JET FUEL SUPPLY ON EDGE Melius warns that any disruption in the Strait of Hormuz could severely hit jet fuel supply—one of the least flexible parts of the oil market. Around 3M bpd of refined products pass through

BRENT, U.S. WTI CRUDE FUTURES EXTEND GAINS, RISE ABOUT 4% AFTER IRAN REPORTS ATTACK ON US WARSHIP

BRENT CRUDE RISES ABOVE $110 PER BARREL, UP 2.27% INTRADAY. WTI CRUDE JUMPS 4% TO $106.26

SPOT GOLD FALLS 1.0% INTRADAY TO $4,572.26 PER OUNCE

US GAS PRICES SURGE NEARLY 50% SINCE IRAN WAR START US regular gas now averages $4.45 per gallon (AAA). Prices are up 35 cents in a week and $1.47 since February 28—marking a 49.3% jump since the conflict began.

TREASURY'S BESSENT: US NOW HAS RECORD LEVEL OF ENERGY EXPORTS

OPEC+ TO RAISE OIL OUTPUT TARGETS BY 188,000 BPD FROM JUNE - DRAFT STATEMENT

SEVEN OPEC+ COUNTRIES HAVE AGREEMENT IN PRINCIPLE TO RAISE OIL OUTPUT QUOTAS FOR JUNE BY ABOUT 188,000 BPD, TWO SOURCES SAY

*TRUMP: US PRODUCING, SELLING MORE OIL RIGHT NOW

*TRUMP: GASOLINE IS HIGH, BUT WILL FALL WHEN WAR IS OVER

BRENT CRUDE FUTURES FALL $2/BARREL ON IRAN PEACE PROPOSAL

VENEZUELA'S OIL EXPORTS ROSE TO 1.23 MILLION BPD IN APRIL -SHIPPING DATA VENEZUELA'S OIL EXPORTS TO US INCREASED TO SOME 445,000 BPD -SHIPPING DATA VENEZUELA'S OIL EXPORTS TO INDIA INCREASED TO SOME 374,000 BPD -SHIPPING DATA

SPOT GOLD TURNS POSITIVE, LAST UP 0.4% AT $4,638.14

EXXON CEO DARREN WOODS ESTIMATES IT WILL TAKE 1-2 MONTHS FOR NORMAL FLOWS TO RESUME AFTER STRAIT OF HORMUZ REOPENS - CONFERENCE CALL