US Oil Rigs Rise, Offsetting Decline in Natural Gas Drilling
The number of active U.S. oil drilling rigs increased for the week, while natural gas rigs fell by the same amount, leaving the total count unchanged, according to data from Baker Hughes.
Latest by Elena Volkova
Trump Expected to Sign Executive Order on Beef Industry, Sources Say
President Donald Trump is anticipated to sign an executive order concerning the U.S. beef industry on Friday, according to a Reuters report citing two sources familiar with the plan. The White House has not yet commented, and the order's specific contents are currently unknown.
Northwest European Gasoline Margins Ease but Remain Near 2022 Highs
Gasoline refining margins in Northwest Europe fell to $60.20 a barrel but stayed close to record levels from the 2022 energy crisis amid tight regional supplies and rising inventories.
US Sanctions Turkish Bank Over Alleged Iran Oil Revenue Scheme
The U.S. Treasury Department has placed a Turkish investment bank and two subsidiaries on its sanctions list, alleging they helped Iran transfer oil revenues. The move is part of a broader U.S. campaign to exert economic pressure on Tehran.
European Gas Prices Climb for Fourth Straight Week Amid Hormuz Tensions
European natural gas futures are on track for a fourth consecutive weekly gain, driven by a significant geopolitical risk premium after US-Iran military actions disrupted LNG tanker traffic in the Strait of Hormuz.
Global Bond Yields Surge to Multi-Decade Highs on Rate and Supply Pressures
Government bond yields across major developed economies have surged to their highest levels in decades, as investors demand greater compensation amid persistent inflation, rising deficits, and expectations for higher-for-longer interest rates.
European Gas Prices Hit 2023 High on Strait of Hormuz Tensions
European natural gas futures are set for a fourth straight weekly gain, reaching their highest levels since 2023, as a US-Iran conflict effectively chokes off LNG shipments through the Strait of Hormuz, tightening global supply.
Citigroup Calls Gold Price Pullback a Buying Opportunity, Reiterates $5,000 Target
Citigroup analysts maintain a bullish outlook on precious metals, suggesting the recent drop in gold prices presents a strategic entry point for investors and reiterating a 6-to-12-month forecast of $5,000 per ounce.
Citi, ANZ Raise Brent Crude Forecasts on Middle East Supply Disruptions
Citi and ANZ have both increased their price targets for Brent crude oil, citing sustained supply disruptions in the Middle East, falling global inventories, and geopolitical tensions impacting key shipping lanes.