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02:48:36

Crude oil prices have seen a slight upward trend. Recently, the crude oil market has experienced increased volatility due to multiple factors, including changes in market supply and demand, international geopolitical situations, and policy moves by major oil-producing countries. This slight increase is a short-term fluctuation, and future trends will depend on further changes in these influencing factors.

02:37:00

The World Trade Organization, together with the International Monetary Fund, the International Energy Agency, and the World Bank, is discussing relevant solutions and plans to further strengthen cooperation and increase support through a combination of multilateral cooperation and bilateral actions.

01:41:44

The total number of U.S. drilling rigs for the week ending May 29 was 562, compared to 558 in the previous week. The number of U.S. natural gas drilling rigs for the week ending May 29 was 125, the same as in the previous week. The number of U.S. oil drilling rigs for the week ending May 29 was 429, the same as in the previous week.

00:00:59

Data released by the U.S. Energy Information Administration (EIA) shows that U.S. natural gas condensate production averaged 7.864 million barrels per day in March 2025, up 210,000 barrels per day month-on-month, compared to 7.654 million barrels per day in February. Natural gas condensate, as an important byproduct of oil and gas production, is widely used in chemical feedstocks, fuel processing, and other fields; fluctuations in its production can significantly impact the supply and demand dynamics of related industries.

23:34:27

The Energy Information Administration (EIA) reported that North Dakota's crude oil production fell to 1.21 million barrels per day in the month, the lowest level since December 2025.

23:33:44

The U.S. Energy Information Administration (EIA) reported that total U.S. refined product exports rose to 3.409 million barrels per day in March, compared to 2.986 million barrels per day in February. U.S. crude oil exports fell to 4.043 million barrels per day in March, compared to 4.345 million barrels per day in February.

23:32:58

Data from the U.S. Energy Information Administration (EIA) shows that U.S. crude oil and petroleum product supply fell to 20.38 million barrels per day in March, the lowest level since November 2025.

23:29:35

[China Draws on Stockpiles to Delay Oil Supply Shortage] China's supply and demand balance indicates that the Chinese government is depleting its oil reserves, thus postponing a broader oil market supply shortage into the third quarter. Hamad Hussain of Capital Economics stated, "Estimated Chinese crude oil imports and refinery throughput so far this month suggest that Chinese refiners are relying more heavily on stockpiling in May compared to April." Despite weak crude oil imports and declining refinery throughput, China's underlying oil demand remains relatively resilient, indicating that commercial inventories are being used to bridge the gap between supply and consumption. The economist added, "If China's crude oil demand situation in May is repeated in June, the 'tipping point' for the global oil market could be pushed back from June to July."

23:13:49

Brent crude oil futures, the most active contract, just broke through the $90.00 per barrel mark and was last quoted at $89.96 per barrel, down 2.64% on the day.

23:07:37

Nymex crude oil futures for the most active contract have just broken through the $87.00/barrel mark, currently trading at $86.93/barrel, down 2.22% on the day.

22:53:03

Brent crude oil futures, the most active contract, just broke through the $91.00/barrel mark, last trading at $90.94/barrel, down 1.57% on the day; US unleaded gasoline futures, the most active contract, just broke through the $3.0600/gallon mark, last trading at $3.0593/gallon, down 1.34% on the day.

22:36:27

Brent crude oil futures, the most active contract, just broke through the $92.00/barrel mark and was last quoted at $92.04/barrel, down 0.39% on the day.

22:22:15

[Report: Oil Prices Continue to Decline on Hopes for a US-Iran Deal] Crude oil futures extended their losses as markets anticipated a deal to open the Strait of Hormuz might be reached soon. "Expectations of more oil shipments passing through the strait this weekend are continuing to pressure prices as a peace agreement is brewing," said Dennis Kissler, an analyst at BOK Financial, in a report. "While global crude supply remains tight, concerns about a prolonged supply shortage are continuing to dissipate from the price curve," he added. West Texas Intermediate (WTI) crude fell 1.7% to $87.40 a barrel and Brent crude fell 1.7% to $92.12 a barrel before the July contract expired today.

22:01:29

[Trump Ceasefire Agreement Waiting Period Triggers Volatility in US Treasuries, Canadian Recession News Sparks Buying] ⑴ US Treasuries fluctuated overnight, falling in the Tokyo session due to month-end profit-taking and weekend risks. Prices rebounded in the London session as short covering pushed prices higher due to Trump's failure to sign a ceasefire extension agreement that would open the Strait of Hormuz. ⑵ Crude oil fell 19% this week, its biggest weekly drop since 2020. Month-end buying continued into the US session, with strong buying at the CME opening, followed by hedge funds. News of a second consecutive quarter of GDP contraction in Canada, indicating a recession, triggered spillover buying from Canadian bond traders, providing additional support for US Treasuries. ⑶ Continued buying from bank trading departments, mortgage accounts, and hedge funds drove the overall buying bias, but some traders were unwilling to hold positions ahead of weekend events. Overseas speculative accounts and intraday long positions sold at higher levels, while domestic traders also took profits on their auction long positions. (4) The two-year yield was 4.018%, down 0.7 basis points, and the ten-year yield was 4.453%, down 0.2 basis points. The spread between the two-year and ten-year yields was positive 43.52 basis points, and the spread between the two-year and thirty-year yields was 96.90 basis points.

21:59:46

Is the oil price around 87 a sign of risk release or the start of a new round of pricing? Details>

21:56:13

[US-Iran Agreement Hopes to Drive US Treasury Yields Down for Fourth Consecutive Day; Bowman Warns Energy Shock Could Lead to Policy Shift] ⑴ US Treasury yields fell for the fourth consecutive trading day on Friday, as reports this week of progress in efforts to reach a ceasefire between the US and Iran boosted market optimism. The 10-year yield fell 0.8 basis points to 4.447%, and the 30-year yield fell 0.4 basis points to 4.981%. ⑵ Federal Reserve Vice Chairman Bowman said on Friday that it was too early to judge the economic impact of the Middle East war, but a prolonged energy shock could require central banks to change their monetary policy stance. Commerce Department data showed that the Fed's preferred inflation gauge hit a three-year high last month. ⑶ Institutional strategists pointed out that the fragile ceasefire since last month has eased upward pressure on oil prices and inflation expectations, helping to push US Treasury yields lower. However, oil prices may not end their rally simply because an agreement has been reached, as has happened before. (4) The yield on two-year U.S. Treasury bonds fell 1.1 basis points to 4.014%, and the spread between two-year and ten-year yields was positive 43.1 basis points. The breakeven inflation rate for five-year bonds was 2.529%, and for ten-year bonds it was 2.391%, indicating that the market expects inflation to average about 2.4% per year over the next ten years.

21:55:31

[US-Iran Agreement Hopes to Drive US Treasury Yields Down for Fourth Consecutive Day; Bowman Warns Energy Shock Could Lead to Policy Shift] ⑴ US Treasury yields fell for the fourth consecutive trading day on Friday, as reports this week of progress in efforts to reach a ceasefire between the US and Iran boosted market optimism. The 10-year yield fell 0.8 basis points to 4.447%, and the 30-year yield fell 0.4 basis points to 4.981%. ⑵ Federal Reserve Vice Chairman Bowman said on Friday that it was too early to judge the economic impact of the Middle East war, but a prolonged energy shock could require central banks to change their monetary policy stance. Commerce Department data showed that the Fed's preferred inflation gauge hit a three-year high last month. ⑶ Institutional strategists pointed out that the fragile ceasefire since last month has eased upward pressure on oil prices and inflation expectations, helping to push US Treasury yields lower. However, oil prices may not end their rally simply because an agreement has been reached, as has happened before. (4) The yield on two-year U.S. Treasury bonds fell 1.1 basis points to 4.014%, and the spread between two-year and ten-year yields was positive 43.1 basis points. The breakeven inflation rate for five-year bonds was 2.529%, and for ten-year bonds it was 2.391%, indicating that the market expects inflation to average about 2.4% per year over the next ten years.

21:03:40

Nymex crude oil futures for the most active contract have just broken through the $87.00/barrel mark, currently trading at $86.99/barrel, down 2.15% on the day.

21:01:31

China's INE crude oil futures main contract has just broken through the 580.0 yuan/barrel mark, and is currently trading at 580.2 yuan/barrel, down 1.63% on the day.

20:44:12

[Canada's Q1 GDP Contracts by 0.1% Annualized, Marking Second Consecutive Quarter Decline; Trade and Tariffs Drag Down Growth] ⑴ Statistics Canada data released Friday showed that the country's GDP contracted by 0.1% annualized in the first quarter, marking the second consecutive quarter of annualized decline after a 1% drop in the fourth quarter of last year. Some market observers have termed this a technical recession. ⑵ On a quarter-on-quarter basis, Q1 GDP was flat compared to the previous quarter, narrowly avoiding the definition of a technical recession at the quarterly level. Analysts and institutions had previously expected annualized growth of 1.5%. ⑶ Statistics Canada stated that the Canadian economy has largely withstood the impact of trade uncertainty and tariffs over the past year. However, the ripple effects of tariffs have weakened investment, hiring, and spending, and pushed up prices. The upcoming review of the North American Free Trade Agreement (NAFTA) and the oil price shock caused by the Middle East wars have added further uncertainty. ⑷ Q1 GDP was negatively impacted by high import levels, but this was largely offset by high inventory accumulation. Household spending, particularly on financial services and food, increased, but this was offset by declines in business and government investment. Business capital investment declined for the fifth consecutive quarter. (5) March GDP fell 0.1% month-on-month, worse than the expected flat reading. Statistics Canada's advance forecast indicated that April growth might be 0.4%, suggesting a strong start to the second quarter. The Bank of Canada had previously projected this year's growth at 1.2%, lower than last year's 1.7%, and will update its forecast in July.

19:52:52

Nymex crude oil futures for the most active contract have just broken through the $88.00/barrel mark, currently trading at $88.01/barrel, down 1.00% on the day; US unleaded gasoline futures for the most active contract have just touched the $3.0700/gallon mark, currently trading at $3.0700/gallon, down 1.00% on the day.

19:40:36

Naftogaz, Ukraine's state-owned gas company: The Russian attack caused significant damage.

19:22:19

[Hormuz Becomes Strategic Trump Card, Iran Unlikely to Relinquish Control, Oil Stalemate May Be Protracted] ⑴ A chief commodities analyst at an institution stated that Iran is unlikely to relinquish control of the Strait of Hormuz, as the waterway remains a key source of strategic leverage in any future nuclear negotiations with Washington. ⑵ Analysts point out that for a long time, the possible path out of this war has been an agreement that is not essentially a deal, but rather an agreement to further negotiations and resolve disputes later—essentially postponing the issue.

19:20:05

According to institutional surveys, the average price of U.S. crude oil in 2026 is projected to be $84.63 per barrel, up from the $80.07 forecast in April. The average price of Brent crude oil in 2026 is projected to be $90.44 per barrel, up from the $86.38 forecast in April.

18:52:44

The underlying logic behind the oil price crash: The market has figured out both sides' true intentions. Details>

18:51:13

[Shanghai International Energy Exchange Adjusts Price Limits and Margin Ratios for Crude Oil and Low-Sulfur Fuel Oil Futures] Shanghai International Energy Exchange announced that, after careful consideration, it has decided to adjust the price limits and margin ratios for crude oil and low-sulfur fuel oil futures contracts as follows, effective from the closing settlement on Tuesday, June 2, 2026: the price limit for crude oil and low-sulfur fuel oil futures contracts will be 17%, the margin ratio for hedging positions will be 18%, and the margin ratio for general positions will be 19%.

18:49:27

[Shanghai International Energy Exchange Adjusts Trading Limits for Crude Oil and Low-Sulfur Fuel Oil Futures Contracts] Shanghai International Energy Exchange announced that, in accordance with the "Shanghai International Energy Exchange Risk Control Management Rules" and other relevant regulations, it has decided that, starting from June 2, 2026 (i.e., the night session of June 1), the trading limits for non-futures company members, overseas special non-brokerage participants, and clients in relevant futures contracts will be adjusted as follows: The maximum number of intraday open positions for crude oil futures contracts SC2609, SC2610, SC2611, SC2612, SC2701, SC2702, SC2703, SC2704, SC2705, SC2706, SC2709, SC2712, SC2803, SC2806, SC2809, SC2812, SC2903, and SC2906, as well as subsequent newly listed contracts, will be 800 lots. The maximum number of intraday open positions for low-sulfur fuel oil futures contracts LU2609, LU2610, LU2611, LU2612, LU2701, LU2702, LU2703, LU2704, LU2705, LU2706 and subsequent newly listed contracts is 3,000 lots.

18:45:38

Brent crude oil futures fell 2.01% on the day, closing at $90.54 per barrel.

18:32:22

A spokesperson for the German Ministry of Economic Affairs stated that natural gas inventory levels have risen further since last Wednesday, currently reaching 31%, and that this market-driven process requires no state intervention.

17:57:47

Commerzbank: Brent crude oil prices are expected to reach $90 per barrel by the end of September and then fall to $85 per barrel by the end of the year. Copper prices are projected to rise to $14,250 per ton by mid-2027.

17:29:20

Nymex crude oil futures for the most active contract have just broken through the $87.00/barrel mark, currently trading at $86.98/barrel, down 2.16% on the day.

17:20:27

Brent crude oil futures, the most active contract, just broke through the $91.00/barrel mark and is currently trading at $90.95/barrel, down 1.57% on the day.

17:19:37

Nymex crude oil futures for the most active contract fell 2.02% to $87.10 per barrel on the day.

17:19:10

[Middle East crude oil spot trading is intensifying, with India making multiple purchases of Upper Zakum, Oman, and WTI crudes; Qatar Energy's monthly auction for al-Shaheen crudes reaches 6 vessels] ⑴ Several Indian refineries have recently made intensive purchases: IOC bought Upper Zakum crudes (multiple transactions, including 2 million barrels from Mercury and 1 million barrels from Totsa) and WTI crudes (2 million barrels from Vitol); BPCL bought 1 million barrels from Oman and 500,000 barrels from Upper Zakum (Totsa Dubai + 70-80 cents/barrel); MRPL bought a total of 2 million barrels from Kisanjah and Mostada (Exxon supply). ⑵ In Qatar Energy's April auction, six al-Shaheen crudes, each 5 million barrels, were purchased by Totsa (1 vessel), Reliance (3 vessels), and Shell (2 vessels) at a price of Dubai futures + 87 cents/barrel. Qatar sold 5 million barrels each of land-based and sea-based crude oil to Reliance (Dubai + $1.10) and Eneos respectively. ⑶ India's BPCL signed a long-term contract with Trafigura from April 2026 to March 2027, supplying four shipments of Oman crude oil (75 cents/barrel lower than Dubai price) and one shipment of Basra medium crude oil (40 cents/barrel lower than official selling price) per quarter. ⑷ Thailand's IRPC purchased two shipments of Das crude oil, each 500,000 barrels, supplied by Glencore and Totsa, at Dubai + approximately $1.50. ⑸ Qatar Energy's March shipment tender included four shipments of al-Shaheen crude oil, each 5 million barrels. Totsa purchased one shipment at -32 cents/barrel, and Unipec purchased three shipments at -35 cents/barrel, with a long-term price of -33 cents/barrel.

17:08:15

Nymex crude oil futures for the most active contract have just broken through the $88.00/barrel mark, currently trading at $87.98/barrel, down 1.03% on the day.

16:58:53

[Indian Oil Corporation Purchases 5 Million Barrels of West African and Middle Eastern Crude This Week; West African Crude at a Premium of Approximately $4 Per Barrel over Brent] ⑴ Trade sources revealed on Friday that Indian state-owned oil refining company Indian Oil Corporation (IEC) purchased 5 million barrels of crude oil from West Africa and the Middle East this week through a tender process. ⑵ The sources stated that the company purchased Angolan Kisanjae and Nemba crude oil, which will be shipped to the Paradeep refinery. It also purchased Nigerian Ussane crude oil from ExxonMobil and UAE Abu Dhabi Murban crude oil from Mercuria, which will be shipped to the Waddin Nair refinery. ⑶ The company also purchased Murban crude oil from Total Energy's trading subsidiary, which will be shipped to the Chennai refinery. ⑷ The sources added that this batch of West African crude oil was priced at a premium of approximately $4 per barrel over spot Brent crude oil; the price of Murban crude oil was flat or slightly at a premium to spot Brent crude oil.

16:37:45

According to GME data, the official selling price of Omani crude oil in July was calculated at $102 per barrel, a decrease of $2.73 from $104.73 per barrel in June.

15:55:45

According to a CNN report on May 28, local time, the US strategic petroleum reserves are declining at an unprecedented rate in recent years, and commercial crude oil inventories are also approaching multi-decade lows, due to the ongoing geopolitical conflicts in the Middle East. (CCTV International News)

15:48:12

[Poland's May Inflation Rate Slightly Drops to 3.1%, Fuel Prices Surge 12.3% Year-on-Year] ⑴ According to preliminary data, Poland's annual inflation rate fell slightly to 3.1% in May from 3.2% in the previous month. ⑵ Despite the slowdown, price pressures in key categories remained high. Electricity, natural gas, and other fuels rose 5% year-on-year, while fuel and lubricant prices for private transportation equipment surged 12.3% amid geopolitical tensions related to the Middle East conflict. ⑶ During the same period, food and non-alcoholic beverage prices rose at a more modest rate of 0.5%. ⑷ On a month-on-month basis, consumer prices fell 0.3% in May, the first monthly decline in a year, reversing the previous month's 0.6% increase.

15:43:12

Nymex crude oil futures for the most active contract have just broken through the $89.00/barrel mark, currently trading at $89.01/barrel, up 0.12% on the day.

15:39:18

Preliminary plans indicate that Nigeria's exports of its four main crude oil grades are expected to average 847,000 barrels per day in July, compared to 827,000 barrels per day in June.

15:05:05

[A-Share Market Closing] ⑴ At the close, the Shanghai Composite Index fell 0.73%, the Shenzhen Component Index fell 1.81%, the ChiNext Index fell 2.11%, the Beijing 50 Index fell 3.24%, and the STAR Market 50 Index fell 5.04%. ⑵ Total market turnover was 3.3409 trillion yuan, an increase of 353.5 billion yuan from the previous day. Nearly 3,900 stocks declined. ⑶ In terms of sectors and themes, liquor, coal mining and processing, power, retail, and airport and shipping sectors led the gains; semiconductors, MicroLED concepts, new metal materials, military electronics, optoelectronics, and memory chips sectors led the declines. ⑷ The liquor sector fluctuated higher, with Jiugui Liquor hitting the daily limit, and Jinshiyuan, Shede Liquor, and Yingjia Gongjiu leading the gains. The power sector opened lower but closed higher, with Jinkong Power, Huaneng International, Shannan Electric A, Guangdong Electric Power A, Huaneng Mengdian, and many other stocks hitting the daily limit, and Jiawei New Energy rising more than 11%. (5) The retail sector performed strongly, with multiple stocks including Dongbai Group, Guofang Group, Baida Group, Ningbo Zhongbai, and Bubugao hitting their daily limit. The semiconductor sector opened higher but then declined continuously, with multiple stocks including Parex Technology, Yongxi Electronics, Cansun Semiconductor, Fudan Microelectronics, and Lihe Microelectronics falling by more than 10%. (6) The optoelectronics sector also performed weakly, trending lower throughout the day, with stocks such as BOE Technology, Rainbow Optoelectronics, and Asia Optoelectronics hitting their daily limit down.

13:59:22

Kazakhstan's Ministry of Energy: Maintenance work on the Kashagan oil field is expected to be delayed until 2027.

13:33:19

[Norway Pressures EU to Lift Arctic Oil and Gas Drilling Ban, Using Hormuz Blockade as New Argument] (1) Norway is pressuring the EU to lift the new ban on oil and gas drilling in the Arctic region, which holds nearly two-thirds of Norway's oil and gas resources. The EU plans to announce a new Arctic policy by the end of September, and Norwegian politicians, civil servants, and lobbying groups are traveling to Brussels to try to influence the decision. (2) Although not an EU member state, Norway is the largest oil and gas exporter in Western Europe, and its continental shelf production meets about 30% of the EU and UK's natural gas needs. The blockade of the Strait of Hormuz provides Norway with a new argument, as the EU is increasingly reliant on Norwegian natural gas exports. (3) The core of the controversy lies in climate and the environment: the Arctic is warming three to four times faster than the global average, making it more vulnerable to exploration activities; expanding drilling will also hinder the energy transition away from fossil fuels. Critics argue that the short-term energy crisis is not sufficient justification for opening up Arctic drilling.

13:15:10

Record U.S. crude oil exports raise concerns about future supply shortages. Details>

12:28:25

Brent crude oil futures fell 1.05% to $91.43 a barrel on the day.

11:34:10

【A-shares fell across the board in the morning session, with trading volume exceeding 2.1 trillion yuan. Power, retail and real estate bucked the trend and strengthened】 (1) The three major indices fell across the board in the morning session: As of midday, the Shanghai Composite Index fell 0.37%, the Shenzhen Component Index fell 1%, the ChiNext Index fell 1.14%, the Beizheng 50 Index fell 2.46%, and the STAR Market 50 Index fell 3.63%. The total market turnover was 2.1323 trillion yuan, an increase of 337 billion yuan from the previous day, with more than 3,400 stocks falling. (2) In terms of sector gains: power, retail, liquor, real estate and coal mining and processing performed the best. The power sector opened lower and rose higher, with Jin Kong Power, Guangdong Power A and Shenzhen Nanshan Power A and many other stocks hitting the daily limit; the retail sector continued to strengthen, with Dongbai Group, Guofang Group and Baida Group hitting the daily limit; the real estate sector opened higher and strengthened, with Vanke A, Financial Street and Guangda Jiabao hitting the daily limit. (3) In terms of sector declines: MicroLED concept, semiconductor, optoelectronics, new metal materials and BC battery led the decline. The semiconductor sector opened higher but closed lower, with Fudan Microelectronics and Lihe Microelectronics among the biggest losers; BC batteries continued to decline, with Delong Laser and GRINM Powder Materials falling by more than 10%; the optoelectronic sector underwent a deep correction, with Hengtai Lighting falling by more than 20%, and many other stocks such as Fuguang Shares and Bayi Space experiencing sharp declines.

11:33:27

Ship tracking data shows that at least three empty liquefied natural gas (LNG) carriers are heading toward the Gulf of Oman outside the Strait of Hormuz, suggesting they may be preparing to load natural gas cargo from the Persian Gulf.

10:35:34

[International Energy Agency: Solar Project Investment to Reach $365 Billion in 2026] (1) The International Energy Agency (IEA) projects that global investment in renewable energy projects will reach approximately $665 billion in 2026, according to its World Energy Investment 2026 report. (2) Of this, investment in solar energy projects alone will reach $365 billion, accounting for more than half of the total renewable energy investment. (3) Nuclear energy investment is also continuing to recover, with annual investment exceeding $80 billion. Currently, 15 countries are building nearly 80 gigawatts of new nuclear power capacity.

10:29:01

Mexico's state-owned oil company, PEMA, said the fire at its ammonia plant in the Kosole-Acaque petrochemical complex has been brought under control.

10:23:02

Inflation is outpacing income growth, putting increasing financial pressure on Americans. Details>

09:59:09

[US-Iran Framework Agreement Approaching, Trump Caught Between Hawks and Oil Prices] (1) US President Trump is caught in a dilemma as he seeks to end the war against Iran: on the one hand, he wants to reopen the Strait of Hormuz and lower domestic oil prices; on the other hand, any concessions to Tehran could provoke strong opposition from Iranian hawks within his party. (2) According to sources, a framework agreement is being drafted that includes extending the current ceasefire and removing Iran’s control over key oil shipping routes, but postpones the nuclear issue to be discussed in subsequent negotiations. If approved, the agreement would be the most important step toward peace since the US-Israel joint strike against Iran and could alleviate soaring energy prices. (3) However, influential hawks within the Republican Party (such as Graham and Cruz) are urging Trump to “get the job done” and resume strikes to cut off Iran’s nuclear capabilities. Trump countered that he is in no hurry and will only accept a “great” agreement. (4) Leaked memos show that the proposed agreement avoids the most difficult issues, such as the long-term status of the Strait of Hormuz, the disposal of Iran’s enriched uranium stockpile, and details of the lifting of sanctions. Critics argue that Iran may benefit more, only promising to continue nuclear negotiations in the future. (5) Analysts point out that Trump is trying to get Iran to make key concessions while only making limited compromises in order to portray the outcome as a victory. But reopening the Strait is merely a restoration of the pre-war state, not a real achievement. (6) Trump faces dual political and economic pressures: his approval rating has plummeted to a new low, the midterm elections are approaching, and high oil prices could damage the Republican Party's chances. Iran, on the other hand, has shown greater resilience, able to withstand a military strike and the cutting off of one-fifth of the world's oil supply. (7) For a president who promised not to get involved in unnecessary wars but has dragged the United States into conflict, how he ends this war will determine his foreign policy legacy for his second term.

09:50:55

[South Korean Government Decides to Release Private Oil Reserves] South Korean government officials said on the 28th that the government has decided to relax oil reserve requirements for private companies starting from the 29th, releasing private oil reserves into the market. The country has not yet decided when to release national oil reserves, reserving them as a "last resort" to deal with a potential oil crisis. Yang Ki-wook, an official from the Ministry of Trade, Industry and Energy, announced that starting from the 29th, the government will reduce the mandatory oil reserve requirement for private oil companies from 40 days to 20 days, releasing the equivalent of 20 days' worth of oil reserves. He stated that this measure is to fulfill commitments made to the International Energy Agency. (Xinhua)

09:18:15

Brent crude oil futures, the most active contract, just broke through the $92.00/barrel mark and was last quoted at $92.03/barrel, down 0.40% on the day.

02:49:06

Brent crude futures closed at $93.71 a barrel, down 58 cents, or 0.62%, from the previous trading day. As one of the important benchmarks for global crude oil pricing, fluctuations in Brent crude prices usually have varying degrees of transmission effects on the global energy market, transportation costs, and inflation trends in many countries. This slight decline has also attracted widespread attention from market participants.

01:19:28

Oil Market Game Under the Shadow of Hormuz: WTI Prices Fluctuate by Over $5 in a Single Day Details>

00:18:19

Data from the U.S. Department of Energy shows that U.S. crude oil imports decreased by 804,000 barrels per day to 5.212 million barrels per day; gasoline imports increased by 8,000 barrels per day to 555,000 barrels per day; and U.S. gasoline demand increased by 489,000 barrels per day to 9.256 million barrels per day.

00:08:43

The EIA crude oil production implied demand data for the week ending May 22 in the United States was 19.402 million barrels per day, compared with 20.841 million barrels per day in the previous week.

00:08:42

The U.S. EIA refinery utilization rate for the week ending May 22 was 94.5%, compared to an expected 92.3% and a previous reading of 91.6%.

00:08:39

U.S. EIA crude oil inventories for the week ending May 22 decreased by 3.327 million barrels, compared with an expected decrease of 4.143 million barrels and a previous decrease of 7.863 million barrels.

00:08:38

U.S. EIA reported crude oil production of 652,000 barrels per day for the week ending May 22, compared to a decrease of 80,000 barrels per day in the previous week.

00:08:38

U.S. crude oil inventories at Cushing, Oklahoma, reported a decrease of 2.794 million barrels in the week ending May 22, compared with a decrease of 1.604 million barrels in the previous week.

23:28:33

[Total Energy CEO: Company Made Huge Middle Eastern Oil Deal After Noticing US Military Deployment in the Gulf in February] Patrick Pouyanne, CEO of French oil giant TotalEnergies, told the French newspaper Le Figaro that the company's traders noticed the US Navy's deployment of warships near the Persian Gulf in February, prompting the company to make a large-scale purchase of Middle Eastern crude oil in March. "Our oil traders—that's their job—noticed the US Navy's deployment of warships around the Persian Gulf in February. They decided to build a position against the trend because the market was in a downtrend at the time. They bought and believed that something big was about to happen."

21:55:54

[US-Iran Clashes Resurge, Brent Crude Nears $97, WTI Reaches $91, Hormuz Stalemate Limits Gains] ⑴ Brent crude futures rose 3% to $97.14 per barrel on Thursday, while US WTI crude rose 3.1% to $91.44 per barrel. Oil prices had earlier this week fallen more than 5% due to expectations of a possible US-Iran deal. ⑵ US officials said the US military launched an attack on a military base in the southern Iranian port of Bandar Abbas, shooting down four Iranian one-way attack drones. The operation was described as defensive in nature and related to protecting the ceasefire. The Iranian Revolutionary Guard subsequently announced an attack on a US military base in response. ⑶ Trump rejected a proposal for Iran and Oman to jointly manage the Strait of Hormuz, stating that the waterway must remain open to everyone and opposing any toll system related to navigation. Oman, as a US ally, was warned by Trump. ⑷ Despite the rebound in oil prices, Brent and WTI are still likely to record their second consecutive weekly decline, as traders continue to weigh military risks against diplomatic negotiations. The American Petroleum Institute reported that crude oil inventories fell by 2.8 million barrels last week.

21:30:03

Record-breaking 78 consecutive days of negative values: Permian natural gas is still "paying to stay afloat". Details>

21:18:31

[US-Iran Conflict Pushes Up Grain Futures, Crude Oil Returns to $90] (1) Grain futures on the Chicago Board of Trade rose in pre-market trading as renewed clashes between the US and Iran raised concerns about the peace process, and risk premiums were re-included in prices. (2) The Hightower Report stated that a 2% rise in crude oil prices, returning to above $90 per barrel, was the driving force behind the increase in grain prices; crude oil is correlated with grain prices because crops are used as feedstock for renewable fuels and are blended with gasoline. (3) In pre-market trading, the most actively traded corn futures rose 0.7%, soybean futures rose 0.6%, and wheat futures climbed 0.4%.

20:10:14

[IEA: Middle East war triggers the world's largest energy security crisis, reshaping the investment landscape] (1) International Energy Agency Executive Director Fatih Birol said that the world is in the midst of the largest energy security crisis in history, with an impact comparable to the reshaping of the energy landscape after the oil crisis of the 1970s; countries are opening up new supply routes and turning to domestic resources. (2) The report points out that producing and consuming countries are accelerating the diversification of trade routes and energy sources, including accelerating the construction of new infrastructure such as pipelines and increasing the development of domestic resources. Despite rising oil prices, global oil investment is expected to shrink to below US$500 billion for the third consecutive year in 2026, constrained by uncertain oil price prospects, long project cycles, and supply chain bottlenecks. (3) Oil-importing countries are turning to renewable energy, nuclear energy and coal: renewable energy investment is expected to reach about US$665 billion in 2026 (US$365 billion for solar energy), over US$80 billion for nuclear energy, and US$180 billion for coal (the highest in a decade).

19:49:53

[National Development and Reform Commission Holds Video Conference to Arrange and Deploy National Energy Supply Guarantee Work for Peak Summer Season] Recently, the National Development and Reform Commission (NDRC) held a video conference on energy supply guarantee for the 2026 peak summer season. The conference focused on studying and implementing the spirit of the 20th National Congress of the Communist Party of China and its subsequent plenary sessions, earnestly implementing the decisions and deployments of the CPC Central Committee and the State Council, and making arrangements for energy supply guarantee work during the peak summer season. The conference required all regions and relevant enterprises to fully recognize the importance, complexity, and long-term nature of the energy supply guarantee task during the peak summer season, closely monitor key regions and important periods, conduct close monitoring, rolling analysis, and strengthen dispatching, fully implement all supply guarantee measures, make full use of supply guarantee plans, and do everything possible to ensure the safe and stable operation of energy during the peak summer season. The conference emphasized ensuring stable power generation and supply. It stressed the need to ensure the production and supply of primary energy sources such as coal and natural gas, strengthen the transportation guarantee of coal for power generation, and meet peak power generation demand. It also emphasized the need to continuously promote the efficient performance of medium- and long-term contracts for electricity, coal, and natural gas. Furthermore, it stressed the need to strengthen the operation and maintenance management of power equipment to achieve stable and reliable output. Finally, it emphasized the need to optimize power dispatching and fully utilize the peak capacity of various power sources. (NDRC)

19:36:22

According to data from the Intercontinental Exchange (ICE), UK wholesale natural gas prices rose 5.1% in recent months to 118.78 pence per kilocalorie.

19:01:55

[EU Energy Directorate: Supply Will Be Tighter if Situation Doesn't Improve in the Coming Weeks] On May 28th local time, the European Commission's Energy Directorate-General issued a statement saying that the closure of the Strait of Hormuz has affected crude oil and all major petroleum products, impacting all EU countries. If the situation does not improve in the coming weeks, market supply is expected to become increasingly tight, especially in the aviation fuel market. The statement noted that the European Commission's Gas Coordination Group held talks with EU countries on May 26th, and the Petroleum Coordination Group also met on May 25th to discuss the security of EU gas and oil supplies given the ongoing tensions in the Middle East. The Gas Coordination Group stated that EU gas storage levels could reach 80% by the end of summer, ensuring gas supplies for the winter of 2026-2027. The organization reiterated the need for regular assessments of gas storage facility fill levels based on actual conditions. (CCTV News)

18:31:26

[Middle East benchmark crude premiums jump as tensions in the Strait of Hormuz ignite supply concerns] ⑴ On Thursday, premiums for Middle Eastern crude benchmarks such as Oman, Dubai, and Murban rose as escalating tensions in the Persian Gulf fueled supply concerns. The Iranian Revolutionary Guard attacked a US airbase after the US military struck Iranian drone operations near the Strait of Hormuz. Oil prices jumped more than 2% on the day. ⑵ The premium for cash Dubai crude over swaps rose $2.64 to $12.67 per barrel. GME Oman crude was quoted at $103.49 per barrel, with a spread of $16.96 over Dubai, up from $7.10 previously. Cash Dubai was quoted at $99.20 per barrel. ⑶ South Korea's SK Energy has issued a tender seeking Middle Eastern crude and condensate for shipments from the UAE, Oman, and Qatar for July to October. The tender closes on June 2. Data shows that earlier this week, two very large crude carriers and one liquefied natural gas carrier sailed out of the Strait of Hormuz with their transponders off, bound for China and India. (4) Singapore's middle distillate fuel inventories fell to a near two-month low due to continued declines in imports. Analysts pointed out that the US exemption policy allowing foreign-flagged vessels to transport oil between US ports has had a limited impact on stabilizing domestic gasoline prices due to high freight rates and relatively small transport volumes.

17:38:10

[EU Confirms Gas Supply Security for Winter; 80% Storage Expected by Summer End; Jet Fuel Supply to Tighten if Oil Market Doesn't Improve in Weeks] ⑴ The EU Petroleum Coordination Group confirmed that there are no immediate concerns about the security of EU gas supplies for the next winter. The group noted that EU gas storage levels could reach 80% by the end of summer, ensuring gas supplies for the next winter. ⑵ The EU stated that replenishing gas storage to 80% capacity before the end of summer is still achievable. The EU Petroleum Coordination Group also warned that the jet fuel market is expected to tighten if the oil market does not improve in the coming weeks.

17:37:53

The EU Petroleum Coordination Group meeting confirmed that there are currently no pressing issues regarding the security of the EU's gas supply for the next winter.

17:37:43

The EU Oil and Gas Coordination Group stated that it is still possible to restore natural gas storage capacity to 80% by the end of summer.

17:37:30

The EU has stated that it is still possible to restore natural gas storage capacity to 80% by the end of summer.

17:37:25

The EU Oil and Gas Coordination Group will continue to monitor the EU's oil and gas supply situation and coordinate actions as needed.

17:37:21

The EU Oil and Gas Coordination Group will continue to monitor the EU's oil and gas supply situation and coordinate actions as needed.

17:35:21

The EU's oil coordination group meeting confirmed that there are currently no imminent concerns about the security of the EU's gas supply for the next winter.

17:33:18

EU member states have no plans for additional gas market intervention measures.

15:44:41

[US Launches New Strikes Against Iran, Oil Prices Rise Over 2.5%] ⑴ The US launched a new round of strikes against Iran, causing oil prices to rise by more than 2.5%. ⑵ In early European trading, Brent crude futures for July delivery rose 2.6% to $96.74 per barrel, while West Texas Intermediate (WTI) crude futures rose 2.6% to $90.95 per barrel. ⑶ ANZ analysts stated, "Traders are becoming increasingly cautious about holding long positions in the oil market ahead of news indicating progress in ending the conflict." They also noted, "Oil supplies remain constrained, and key sticking points remain unresolved." ⑷ Meanwhile, as supply disruptions triggered a sharp drop in inventories, traders are awaiting official inventory data from the US Energy Information Administration, due later on Thursday.

15:42:18

The Greek Ministry of Energy announced that Chevron and Hellenic Energy Group have formally submitted an application for Chevron to participate in a natural gas exploration project in an offshore block in the Ionian Sea.

15:21:25

Uniper's CEO warned that problems will arise in winter if natural gas storage facilities cannot be injected with gas quickly.

15:18:31

US and Iran exchange airstrikes; Trump makes a tough statement: No one can control the Strait of Hormuz Details>

15:12:38

Sources say SK Energy is procuring Middle Eastern crude oil and condensate for shipment between July and October through a tender process.

15:00:48

The war with Iran is reshaping the global energy landscape, with natural gas investment soaring to $330 billion, a ten-year high. Details>

14:57:19

[International Energy Agency: Middle East Conflict Reinforces Energy Security Strategies] On May 28th, local time, the International Energy Agency (IEA) released its "World Energy Investment Report 2026," which points out that the profound impact of the Middle East conflict is prompting governments and businesses to re-examine their energy investment strategies. With shipping disruptions in the Strait of Hormuz, concerns about energy security and the reliability of global trade have increased significantly. The report states that the current energy crisis, triggered by the de facto closure of the Strait of Hormuz, is changing market perceptions of risk and driving countries to further diversify their energy and transportation routes. This crisis, occurring only a few years after the energy crisis triggered by the Russia-Ukraine conflict in 2022, is expected to have a long-term impact on future global energy investment priorities, particularly in Asia and the Middle East. These regions are most significantly affected by the disruption of shipping in the Strait of Hormuz. IEA Executive Director Fatih Birol stated, "We are in the midst of the largest energy security crisis in world history. I believe this will reshape global energy investment strategies, similar to the major changes the energy industry experienced after the oil crisis of the 1970s." (CCTV)

14:41:50

[Following Gulf Attacks, European Gas Prices Rise] ⑴ New attacks in the Persian Gulf have dampened expectations that the US and Iran might reopen the crucial Strait of Hormuz, causing European gas prices to rise. ⑵ On Thursday, benchmark European gas futures rose by as much as 4%, after falling the previous day. ⑶ The US launched an airstrike on an Iranian military facility and imposed new sanctions aimed at preventing Iran from profiting from ships passing through the Strait of Hormuz. ⑷ The renewed escalation of tensions has jeopardized the already fragile ceasefire agreement; uncertainty about the duration of the conflict has exacerbated market anxiety—European traders are scrambling to replenish their depleted gas reserves.

12:51:52

Kazakhstan's Energy Minister stated that maintenance of the Kashagan oil field has not yet begun, and discussions among shareholders are still ongoing.

12:47:52

Kazakhstan has refused to negotiate with Lukoil on the sale of its business.

12:17:58

[International Energy Agency: Natural Gas Investment Expected to Hit a 10-Year High This Year, Oil Investment May Decline for the Third Consecutive Year] 1. The International Energy Agency (IEA) stated in its latest report that, influenced by the impact of the Iran war on the global energy market, energy companies are accelerating their expansion in other regions. Global natural gas project investment is projected to grow by over 10% in 2026, reaching $330 billion, the highest level in a decade. 2. Meanwhile, upstream oil investment may decline for the third consecutive year. To strengthen supply security, companies are increasing spending on renewable energy, liquefied natural gas (LNG), and coal. 3. The report shows that despite the continued instability in the Middle East, total global energy investment will still grow by 5% in 2026, reaching $3.4 trillion. Of this, approximately $2.2 trillion will be invested in renewable energy, energy storage facilities, grid upgrades, and low-emission fuels. 4. Investment in oil supply is expected to be less than $500 billion. The growth in natural gas investment mainly comes from US LNG projects, but the current crisis has prompted Asian importers to be more cautious about their reliance on natural gas. 5. Coal investment is expected to rise to $180 billion, a 14-year high. Nuclear energy investment is also showing signs of recovery, and is expected to reach $80 billion this year. 6. Oil and gas investment in the Middle East is projected to decline by 1% in 2026, mainly due to factors such as infrastructure damage, reduced revenue, and production disruptions, significantly weakening capital deployment capacity.

10:53:01

On the morning of May 28th, numerous users reported service disruptions on social media platforms. The company's service status page indicated that DeepSeek's web chat and API services were interrupted; the cause has been identified and repairs are underway.

10:44:21

Three oil and liquefied natural gas carriers turned off their transponders and sailed out of the Strait of Hormuz.

10:41:49

[US Strikes Iranian Facility Escalate Geopolitical Risks, Oil Prices Rise by About 2%] 1. International oil prices rose by about 2% in early trading on Thursday. Brent crude futures for July delivery rose as much as 2.3% to $96.50 per barrel, while WTI crude futures for July delivery rose as much as 2.27% to $90.69 per barrel. This followed reports that the US had launched a new round of strikes against an Iranian military facility overnight, further escalating tensions in the Middle East, despite ongoing negotiations between the two sides to end the three-month-long conflict. 2. Oil prices had fallen sharply by more than 5% in the previous trading day, hitting a one-month low, influenced by news that the US and Iran might reach an agreement to end the conflict and reopen the Strait of Hormuz. 3. However, on Thursday morning Beijing time, according to US officials, the US military targeted a military facility in Iran and shot down four Iranian drones operating near the Strait of Hormuz, which were considered a threat to the region. This provided upward momentum for oil prices. 4. ANZ commodity strategist Daniel Hynes pointed out that crude oil supply remains tight, and key disputes have not yet been resolved. 5. Market news indicates that, according to data from the American Petroleum Institute (API), U.S. crude oil inventories decreased by 2.8 million barrels in the week ending May 22. Official inventory data from the U.S. Energy Information Administration (EIA) will be released later on Thursday.

10:18:35

The Governor of the Bank of Korea stated that uncertainties remain regarding the Middle East wars, and that it will take time for crude oil supplies to stabilize. The semiconductor boom is driving South Korea's economic expansion.

09:07:09

Has the EU made a sudden strategic shift towards Russia? Zelensky urgently calls for Europe to sit down at the negotiating table! The US is bogged down in the Iran conflict and has no time to look eastward. Details>

06:58:42

[WTI Crude Oil Rises Slightly as US-Iran Disagreements Continue to Hinder Negotiation Progress] 1. WTI crude oil futures rose about 1% to $89.70 per barrel in early trading on Thursday, weighed down by the ongoing disagreement between the US and Iran over the reopening of the Strait of Hormuz. 2. Trump publicly expressed "dissatisfaction" with the progress of negotiations, and the White House denied reports of a draft agreement for Iran and Oman to jointly monitor shipping in the strait. 3. Despite numerous challenges, the market remains hopeful that the warring parties will reach at least a temporary agreement, putting crude oil prices on track for a second consecutive week of decline. 4. The sticking points in this protracted negotiation include Iran's desire to retain control of the Strait of Hormuz and the ultimate fate of its nuclear program. 5. Rabobank global energy strategist Joe DeLaura noted, "The current oil market is too 'complacent.' The release of strategic petroleum reserves is helping to buffer some of the supply losses caused by the war."

05:17:13

The CEO of Western LNG revealed that Ksi Lisims LNG of Canada is currently in talks with several other European utilities regarding potential LNG cooperation deals. Ksi Lisims has already secured an allocation of 5 million metric tons of LNG per year through signed purchase agreements, and the company plans to increase this supply to 8 million metric tons before making a final investment decision (FID).

04:38:13

International rating agency Moody's has assessed the creditworthiness of the Republic of Congo, noting that the country's liquidity situation remains severe, highlighting its weak economic resilience to fluctuations in oil prices. However, if international oil prices continue their upward trend, coupled with the implementation of the country's own oil and gas capacity expansion plans, it will significantly support economic growth and fiscal revenue increases.

04:31:09

Annand Jagesar, President and CEO of Staatsolie, revealed that Petronas is currently conducting oil exploration operations in Block 52 off the coast of Suriname. Based on the current progress, the assessment of the commercial exploitation value of the block is expected to be officially released within the next 18 months.

04:29:53

Federal Reserve Governor Cook stated that they are currently closely monitoring the movement of crude oil prices.