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21:47:49

The Ukrainian military claims its troops attacked a Russian gas processing plant in the Samara region and caused a fire.

07:40:23

Iran lowered the price of its light crude oil sold to Asia in March.

07:39:23

Trump considers strikes against Iran; traders heavily bet on call options; geopolitical premium supports oil prices. Details>

04:31:20

According to data from the U.S. Commodity Futures Trading Commission (CFTC), in the week ending February 17, oil speculators reduced their net long positions in West Texas Intermediate (WTI) crude oil by 2,904 contracts, bringing them down to 67,884 contracts.

04:31:18

According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending February 17, natural gas speculators on the four major markets—the New York Mercantile Exchange (NYMEX), the Intercontinental Exchange (ICE), and the New York Mercantile Exchange—reduced their net long positions by 19,927 contracts to 124,810 contracts.

04:15:00

Pacific Gas and Electric Company agreed to pay $575 million to settle claims related to the California wildfires.

03:47:02

Brent crude futures settled at $71.76 a barrel, up 10 cents, or 0.14%, from the previous day.

03:32:02

U.S. crude oil futures settled at $66.39 a barrel, down 4 cents, or 0.06%, from the previous day.

02:15:28

In the week ending February 17, ICE Brent crude oil speculators reduced their net long positions by 17,876 contracts to 263,186 contracts.

02:04:12

[London Stocks Rise on the 20th] On the 20th, the FTSE 100 index in London closed at 10686.89 points, up 59.85 points, or 0.56%, from the previous trading day. All three major European stock indices rose on the day. The top five gainers among London Stock Exchange constituents were Diageo (up 3.90%), Burberry (up 3.32%), Antofagasta (up 3.02%), British American Tobacco (up 2.15%), and Lloyds Banking Group (up 2.11%). The top five losers were BP (down 2.38%), Associated British Foods (down 1.16%), Monde Paper (down 0.92%), Convair (down 0.78%), and Reckitt Benckiser (down 0.62%).

02:03:04

Baker Hughes reports that the number of oil and gas rigs operated by U.S. drilling companies remained unchanged for the second consecutive week.

02:01:56

According to Baker Hughes, the number of U.S. natural gas drilling rigs remained unchanged at 133 in the week ending February 20.

02:00:18

Wells Fargo raised its price target for Occidental Petroleum from $40.00 to $47.00 per share.

01:02:27

The U.S. Environmental Protection Agency (EPA) has officially repealed the mercury emission control regulations for coal-fired power plants established during the Biden administration.

01:00:01

U.S. natural gas futures extended gains to 3.00% on the day, currently trading at $3.086 per million British thermal units (MMBtu).

20:01:48

War premium returns, oil prices rebound, WTI retests January high near $67. Details>

19:46:04

India's crude oil production fell 5.8% year-on-year in January, while its coal production rose 3.1% year-on-year.

19:35:06

[Iranian Oil Minister: Oil Cooperation Between Iran and the US Is Not Impossible] On the 20th local time, regarding the ongoing negotiations between Iran and the US, Iranian Oil Minister Paknejhad stated that cooperation between the two countries in the oil and gas sector is "all possible." However, he pointed out that it is currently unclear whether oil and gas cooperation between Tehran and Washington will officially commence. Previously, Iranian Foreign Ministry officials revealed that the negotiations with the US included shared interests in the oil and gas sector, joint venture oil fields, mineral investments, and aircraft purchases. (CCTV)

19:10:12

A spokesperson for the German Ministry of Economic Affairs stated regarding the conflict with Iran that Germany's natural gas supply is guaranteed under any circumstances.

19:09:35

A spokesperson for the German Ministry of Economic Affairs stated: "We are optimistic that the market has recognized that gas injection into natural gas storage facilities must return to a market-based operating model."

18:55:38

[Tullow Oil Launches Comprehensive Capital Restructuring, Simultaneously Advancing West African Expansion and Debt Extension] ⑴ Tullow Oil announced a broad capital restructuring plan on Friday, along with several deals to deepen its West African operations. The heavily indebted independent oil producer is seeking stable operations and long-term growth. ⑵ The company has reached a refinancing agreement with Glencore and major holders of its May 2026 senior secured notes, extending the debt maturity by more than two years to November 2028. The notes total $1.3 billion, with approximately two-thirds of the holders participating in the restructuring. ⑶ Tullow Oil has long faced the dual pressures of declining production and delayed government payments, resulting in persistently tight cash flow. Amid rising debt, the company has been forced to cut costs to maintain operations. This debt extension will provide it with breathing room. ⑷ The company also signed two significant asset transactions. One is the acquisition of a floating production storage and offloading (FPSO) unit serving Ghana's TEN oil field for $205 million. The CEO stated that this move will reduce fixed costs and improve long-term cash flow. Second, an agreement was reached with the Ghanaian government to extend the terms of the West Point Three and Deepwater Tano oil agreements. (5) Clear expectations for financial improvement. After completing the refinancing, the company expects to have over $200 million in free cash flow and undrawn credit lines as a liquidity buffer. This provides a financial runway for executing its business plan and creating additional value for stakeholders. (6) Production guidance indicates a slight short-term decline. The company expects average daily production in 2026 to be between 34,000 and 42,000 barrels of oil equivalent, lower than the 40,400 barrels in 2025. This guidance reflects the natural decline in the asset base and the phased nature of the investment cycle. (7) Market reactions are mixed. After rising by about 23% in the previous trading day, the company's stock price showed mixed performance in early trading on Friday. With a full-year decline of over 70% in 2025, it remains to be seen whether the capital restructuring can reverse the long-term downturn.

18:39:40

The Norwegian Petroleum Authority reported that preliminary oil production in Norway for January was 1.998 million barrels per day. Natural gas production was 11.3 billion cubic meters.

17:51:36

Brent crude oil futures fell 1.00% to $71.17 per barrel on the day.

17:51:06

Nymex crude oil futures for the most active contract have just broken through the $66.00/barrel mark, currently trading at $65.99/barrel, down 0.62% on the day.

16:57:50

[The Geopolitical Game Behind the US-India Energy Deal] ⑴ The US is using energy supply as a core bargaining chip in its trade negotiations with India. By directly linking India's reduced purchases of Russian crude oil to tariff preferences, Washington is attempting to establish a new balance between energy flows and trade interests. Venezuelan oil's access to the Indian market has been granted by the US, becoming one of the alternative options. ⑵ As the world's third-largest oil importer, India faces a dual struggle between external pressure and internal demand in diversifying its energy sources. On the one hand, becoming Russia's largest customer for seaborne crude oil after the Russia-Ukraine conflict exposes it to compliance risks under Western sanctions; on the other hand, maintaining low import costs is crucial for its domestic economy. ⑶ The US's licensing of Venezuelan oil supplies is selective. Following the political changes in Venezuela, sales licenses were issued only to specific trading companies, rather than being fully opened. This targeted authorization allows the US to influence the flow of Venezuelan crude oil to some extent while avoiding direct involvement in energy supply negotiations with India. ⑷ The pace of the US-India interim trade agreement is linked to energy purchase commitments. The US envoy has clearly stated that India will purchase more oil from the US and may also purchase from Venezuela. This dual-track approach aims to systematically dilute Russia's share of India's energy imports, rather than simply seeking a substitute for a single supply source. (5) For India, accepting oil from the United States and Venezuela, which is licensed by the US, represents a compromise between trade preferences and diplomatic balance. Its refineries have already begun placing orders for Venezuelan crude oil while maintaining existing supply relationships with Russia. This multi-pronged procurement strategy allows it to maintain a certain degree of strategic maneuvering among major powers.

15:36:39

[US-Iran Showdown looms, oil market senses tension] ⑴ The sudden escalation of tensions between the US and Iran is dominating short-term sentiment in the crude oil market. With the US setting a deadline for nuclear negotiations and Iran conducting joint military exercises with Russia and closing the Strait of Hormuz, market concerns about conflict have intensified. On Friday, oil prices climbed to a six-month high and are on track for their first weekly gain in three weeks. ⑵ The strategic waterway faces the risk of blockade, directly impacting supply expectations. Approximately 20% of global crude oil transportation passes through the Strait of Hormuz. If conflict breaks out in the region, the channel for crude oil to enter the global market could be blocked, becoming the core logic behind bullish bets. Analysts point out that although investors are still debating whether supply will actually be disrupted, geopolitical premiums have once again become the main driver of the market. ⑶ On the supply side, fundamental data provides additional support. Latest data shows a significant decrease of 9 million barrels in US crude oil inventories, mainly due to increased refinery utilization and exports. Meanwhile, discussions within OPEC+ favoring a resumption of production increases starting in April are interacting with the bullish factors brought about by the current tensions. (4) However, macroeconomic pressures limited further upside potential for oil prices. The market is focused on the interest rate path of the world's largest oil consumer. The Federal Reserve meeting minutes suggested that if inflation persists, interest rates may be maintained or even raised further, which could suppress medium- to long-term demand. Institutional views indicate that the supply glut that began in the second half of 2025 continued in January, and this trend is likely to continue. If demand fails to keep pace, the market will face a significant supply glut later this year, requiring substantial production cuts to prevent a large increase in inventories. In the short term, geopolitics plays a role; in the long term, the balance of supply and demand matters. The game for oil prices is far from over.

14:45:17

According to an official statement, the Hungarian government will release 250,000 tons of crude oil from its strategic petroleum reserves after the Friendship pipeline is shut down.

14:29:25

Nymex crude oil futures for the most active contract have just broken through the $67.00/barrel mark, currently trading at $67.01/barrel, up 0.92% on the day.

13:50:48

As the United States continues to pressure India to reduce its purchases of Russian crude oil, India's crude oil imports from Saudi Arabia are set to rise to 1 million to 1.1 million barrels per day this month, the highest level since November 2019.

10:04:39

Brent crude oil futures, the most active contract, just broke through the $72.00/barrel mark and was last quoted at $72.02/barrel, up 0.17% on the day.

09:25:57

Kimi Claw Beta recently launched on the Kimi website, announcing that it allows for one-click cloud deployment or association with pre-configured OpenClaw. It also supports one-click access to over 5000 community plugins from ClawHub, including development and code plugins, browser-related plugins, office workflow plugins, and expert roles. Along with the launch of Kimi Claw Beta, the platform also provides users with 40GB of free storage space, allowing for on-demand file saving and retrieval. In terms of search capabilities, it supports access to real-time data APIs from professional financial sources, ensuring fast and accurate information. Currently, this feature is in an early experimental phase and will be initially available to Allegretto and higher-level members to gather feedback.

08:31:40

Colombia's national oil company, Ecopetrol, reported that its proven oil equivalent reserves would reach 1.944 billion barrels by the end of 2025.

05:50:43

Trump said oil and gas production is increasing.

05:20:23

Brent crude oil futures, the most active contract, just broke through the $72.00 per barrel mark, and are currently trading at $72.01 per barrel, up 2.61% on the day.

05:09:59

International oil prices rose on the 19th. By the close of trading that day, the price of light sweet crude oil futures for March delivery on the New York Mercantile Exchange rose by $1.24 to settle at $66.43 per barrel, an increase of 1.9%; the price of Brent crude oil futures for April delivery on the London ICE Futures Exchange rose by $1.31 to settle at $71.66 per barrel, an increase of 1.86%.

04:58:04

Sources revealed that Venezuelan refineries are currently operating at approximately 35% of their capacity, corresponding to a daily crude oil processing volume of 450,000 barrels.

04:32:46

Occidental Petroleum shares hit an intraday high and are currently up 10.5% from the previous day, with the latest price exceeding $52 per share.

04:01:46

The price of West Texas Intermediate (WTI) crude oil futures for March delivery on the New York Mercantile Exchange rose $2.14, or 1.9%, to settle at $66.43 a barrel.

03:44:41

Brent crude futures settled at $71.66 a barrel, up $1.31, or 1.86%, from the previous day.

03:31:50

U.S. crude oil futures settled at $66.43 a barrel, up $1.24, or 1.90%, from the previous day.

02:55:40

Occidental Petroleum stated that approximately $100 million in funds invested in the Stratos Capital project will be gradually withdrawn starting in 2027.

02:50:19

Occidental Petroleum said capital expenditures are expected to decline by 2027.

02:43:53

Occidental Petroleum said it expects to have a clearer understanding of the macroeconomic environment in the second half of this year.

02:36:29

Occidental Petroleum expects production to decline in the first quarter.

02:29:05

Occidental Petroleum expects its downstream revenue to decline slightly by 2026.

01:49:02

Oil prices rose 2% to a six-month high amid concerns about a potential conflict between the US and Iran. Details>

00:06:48

U.S. natural gas futures gave back some of their gains after the U.S. Energy Information Administration (EIA) released natural gas storage data, and are currently up 0.4%.

22:26:30

International Energy Agency Executive Director: The supply glut could change if there is significant geopolitical turmoil, but we currently believe the market situation is good.

22:26:29

International Energy Agency Executive Director: We will continue to use multiple prospective scenario analyses.

22:26:27

International Energy Agency Executive Director: OPEC can do whatever it wants on March 1, but we believe demand growth will be less than 1 million barrels per day.

22:26:24

International Energy Agency Executive Director: There is currently a large amount of oil on the market, and the situation is very optimistic.

22:26:24

International Energy Agency Executive Director: We have not yet discussed revising the 90-day inventory rule.

22:24:42

International Energy Agency Executive Director: India’s process of joining the International Energy Agency as a full member has entered its final stage.

21:51:49

International Energy Agency (IEA) Executive Director Fatih Birol: OPEC+'s decision is up to them. We anticipate a significant oil surplus due to supply from the Americas. The IEA is broadening its definition of energy security. We have not yet discussed revising the 90-day inventory rule.

21:31:06

Nymex crude oil futures for the most active contract rose 2.01% to $66.36 per barrel on the day.

21:30:26

Brent crude oil futures rose 2.01% to $71.58 per barrel on the day.

21:28:16

[BP Renews Caspian Platform Drilling Rig Operation Contract, Potential Value Exceeds $1 Billion] ⑴ BP announced on Thursday that it has renewed its contract with Turan Drilling Engineering for the operation and maintenance of drilling rigs on Caspian offshore platforms. The contract, effective from March, has an initial term of five years. ⑵ The contract includes three one-year renewal options. BP stated that if all options are exercised, the total contract value could exceed $1 billion. ⑶ This renewal covers BP's core offshore operations in the Caspian region, ensuring the long-term operation and maintenance capabilities of the relevant platform drilling rigs. The Caspian Sea is one of the key regions for BP's global operations. ⑷ The signing of the contract marks a further deepening of BP's partnership with service providers in the region, providing stability for its long-term production operations in the Caspian Sea.

20:56:40

With negotiations stalled and military standoff escalating, crude oil prices continued their volatile upward trend. Details>

20:33:56

[20 Million Barrels of Oil Hang in the Balance: Strait of Hormuz Becomes Focus of US-Iran Standoff, Oil Prices Plunge] ⑴ Approximately 20 million barrels of oil pass through the Strait of Hormuz daily, equivalent to nearly one-fifth of global oil demand. This deep-water channel between Iran and Oman has become the focus of the US-Iran standoff and a key driver of the recent surge in oil prices. ⑵ Analysts point out that disrupting tanker traffic or completely closing the strait are possible ways Iran might retaliate against US strikes. Earlier this week, Iranian state media announced that the strait would be partially closed due to "security precautions." Brent crude rose more than 1% on Thursday, climbing from below $60 in early January to above $70. ⑶ The US has amassed its strongest air force in the Gulf region since the 2003 invasion of Iraq, and its navy has deployed 13 ships in the Middle East and the Eastern Mediterranean. Although the US and Iran held talks in Geneva this week, with the White House claiming "some progress," the two sides "remain significantly different." Iran is expected to present more detailed proposals in the coming weeks. (4) In 2024, nearly 40% of the crude oil passing through the Strait of Hormuz came from Saudi Arabia. Although Saudi Arabia has pipelines bypassing the strait, there is no alternative route for most of the oil passing through this waterway. Of the daily throughput, about three-quarters is crude oil and one-quarter is refined petroleum products, with Iran itself exporting about 1.5 million barrels per day.

17:59:10

[Middle East crude oil benchmark Dubai rises for fifth consecutive day, driven by strong demand from Total and Mercuria] ⑴ On Thursday, the price of Dubai crude oil, the Middle East benchmark, rose for the fifth consecutive trading day, mainly supported by strong demand from Total Energy and Mercuria. The two companies purchased a total of 106 shipments in Dubai swap transactions on the day, resulting in the French energy giant receiving three shipments and a European trader receiving one physical shipment. ⑵ The Singapore oil market was closed on Tuesday and Wednesday for the Lunar New Year holiday, but trading was active after resuming today. The premium of Dubai spot to swaps rose to $1.09 per barrel, up 5 cents from Monday's close. ⑶ In terms of trading dynamics, Shell will deliver one shipment of Upper Zakum crude oil each for April loading to Mercuria and Total Energy, while Total will also receive one shipment of Oman crude oil from Vitol. Phillips 66 will deliver one shipment of Dubai crude oil for April loading to Total. ⑷ In terms of tenders, India's MRPL has issued a tender seeking to purchase up to 2 million barrels of crude oil, with the tender closing on February 18. The company purchased Kissange and Mostada crude oil from ExxonMobil in its last tender. Furthermore, data shows that the share of Russian crude oil in India's imports has fallen to its lowest level since the end of 2022, while the share of Middle Eastern crude oil has risen to its highest level in the same period. China's imports of Russian crude oil in February are expected to climb to a new high for the third consecutive month.

17:25:40

Hungarian Prime Minister Viktor Orbán's chief of staff: We have already released strategic oil reserves. If Ukraine continues to block oil shipments through the Friendship Pipeline, we will take measures. We are considering suspending electricity and gas exports to Ukraine.

16:41:29

Nymex crude oil futures for the most active contract have just broken through the $66.00/barrel mark, currently trading at $66.01/barrel, up 1.48% on the day.

15:57:09

Nymex crude oil futures for the most active contract rose 1.01% to $65.71 per barrel on the day.

15:57:09

Brent crude oil futures, the most active contract, just touched the $71.00 per barrel mark and is currently trading at $71.00 per barrel, up 1.18% on the day.

15:52:18

Brent crude oil futures for the most active contract rose 1.01% to $70.89 per barrel on the day.

10:03:08

[Institutions: Short-Term Disruptions in the Strait of Hormuz Unlikely to Change Oil Market Fundamentals; Structural Oversupply Remains the Main Theme] 1. MBSB Research noted in a report that Iran's recent temporary closure of parts of the Strait of Hormuz and its live-fire military exercises have temporarily increased geopolitical risk premiums and exacerbated volatility in the crude oil market. However, the institution believes that supply and demand fundamentals are expected to remain stable, and the price impact will be temporary unless the disruption evolves into a long-term event. 2. The institution maintains a "neutral" rating on the Malaysian oil and gas sector, citing the still challenging global macroeconomic backdrop. Crude oil prices are expected to remain low due to structural oversupply in the market; geopolitical factors can only trigger short-term price fluctuations and are unlikely to drive sustained upward movement. 3. MBSB lists Dialog as its top pick in the sector due to its defensive midstream exposure, which provides relatively stable performance in a volatile environment.

09:46:02

SK Innovations has been selected as the developer of a $2.3 billion liquefied natural gas power generation project in Vietnam.

09:16:57

U.S. Interior Secretary: Natural gas powers American homes and industry. When production increases, utility bills decrease. President Trump is delivering real results, reducing household expenses. This is a true reflection of America's energy dominance.

09:07:35

【Short-term trading advice for US crude oil: range-bound trading, sell on rallies and buy on dips】 (1) Reasons for analysis: After a sharp rebound, international oil prices have remained high and consolidated. Geopolitical risk premium is still the dominant factor. The US-Iran negotiations have not yet broken down. The US has given a two-week buffer period, and the market is weighing the conflict and diplomacy repeatedly. If the situation escalates, the transportation risk in the Strait of Hormuz will continue to support oil prices; but if the negotiations make substantial progress, the risk premium may be quickly given back. In addition, the trend of the US dollar and inventory data also affect the short-term rhythm. Technically, WTI has broken through $63 on the daily chart and the momentum is still strong, but after continuous rises, there is a need for consolidation. In the short term, it is more inclined to pull back to confirm the support and then rise again. (2) Key focus: geopolitical situation, trade sentiment, inventory data, US dollar index (3) Resistance: 65.30, 65.80, 66.30 (4) Support: 64.80, 64.30, 64.00

06:27:05

The U.S. Treasury Department announced on its website that it has issued a general license authorizing transactions related to operations by specific entities in Venezuela's oil and gas industry.

05:38:46

U.S. crude oil inventories fell by 609,000 barrels in the week ending February 13, compared with an increase of 13.4 million barrels in the previous week.

04:49:02

WTI crude oil rose 5% intraday, currently trading at $65.38 per barrel.

04:05:57

West Texas Intermediate (WTI) crude oil futures for March delivery rose $2.96, or 4.75%, to settle at $65.19 a barrel on the New York Mercantile Exchange.

03:46:06

Brent crude oil futures settled at $70.35 a barrel, up $2.93, or 4.35%, from the previous day.

03:31:23

WTI crude oil futures for March delivery settled at $65.19 per barrel, NYMEX natural gas futures for March delivery settled at $3.0110 per million British thermal units (MMBtu), NYMEX gasoline futures for March delivery settled at $1.9680 per gallon, and NYMEX heating oil futures for March delivery settled at $2.5187 per gallon.

03:31:23

U.S. crude oil prices rose 5%, reaching a high above $65 a barrel during the day.

02:02:37

Nymex crude oil futures for the most active contract have just broken through the $65.00/barrel mark, currently trading at $65.01/barrel, up 4.42% on the day.

02:01:27

As of now, Brent crude oil has risen by 4% on the day, reaching $70.12 per barrel.

02:01:12

WTI crude oil rose 4.40% intraday, breaking through $65 per barrel.

01:45:36

Risks surrounding the Iranian situation offset pessimistic EIA forecasts, causing Brent crude oil prices to rise by approximately 4%. Details>

01:20:09

Brent crude oil futures for the most active contract rose 4.01% on the day, closing at $70.04 per barrel.

01:18:49

Brent crude oil futures, the most active contract, just touched the $70.00/barrel mark and is currently trading at $70.00/barrel, up 3.95% on the day.

01:12:18

Nymex crude oil futures for the most active contract rose 4.03% to $64.77 per barrel on the day.

00:15:39

ExxonMobil Guyana President: Future pipelines to the Berbis region of Guyana may be connected to existing natural gas power generation pipelines.

22:29:06

According to data provided by relevant sources, the proportion of Russian crude oil in India's total crude oil imports in January fell to its lowest level since October 2022.

22:29:06

According to data compiled by sources, India imported approximately 1.1 million barrels of crude oil per day from Russia in January, the lowest daily import volume since November 2022.

22:27:49

The energy minister of Trinidad and Tobago said the country is looking for crude oil supply channels to restart the Point Piai refinery, with the crude oil source mainly from the region.

20:58:53

[Austria Seeks Energy Diversification to Avoid Over-Reliance on US LNG] ⑴ Austria's Deputy Energy Minister stated on Tuesday that, as the European energy supply landscape evolves, Austria is committed to expanding its renewable energy base and increasing natural gas imports from Africa to avoid over-reliance on US liquefied natural gas (LNG). ⑵ The EU's plan to phase out Russian natural gas by 2027 presents European countries with the challenge of maintaining affordable electricity prices. Many governments fear that under Trump's administration, one dependence could be replaced by another. ⑶ Austrian State Secretary for Energy Elisabeth Zetner pointed out that, given the unpredictable nature of US policy in the current situation, Austria is closely monitoring how to secure LNG from diverse sources. ⑷ This move reflects the widespread desire among European countries to diversify their energy supply amidst energy transition and geopolitical shifts. Austria is actively adjusting its energy strategy to reduce the risk of dependence on a single source.

20:20:17

Nymex crude oil futures for the most active contract have just broken through the $64.00/barrel mark, currently trading at $64.01/barrel, up 2.81% on the day.

20:08:23

Brent crude oil futures, the most active contract, just touched the $69.00 per barrel mark and is currently trading at $69.00 per barrel, up 2.47% on the day.

19:43:49

Nymex crude oil futures for the most active contract rose 2.01% to $63.51 per barrel on the day.

19:40:49

Brent crude oil futures for the most active contract rose 2.00% to $68.69 per barrel on the day.

18:55:24

Nymex crude oil futures for the most active contract have just broken through the $63.00/barrel mark, currently trading at $63.01/barrel, up 1.20% on the day.

18:50:10

Hungarian Foreign Minister Szijjártó: Hungary seeks EU approval to import Russian crude oil transported by sea.

18:48:13

Nymex crude oil futures for the most active contract rose 1.01% to $62.89 per barrel on the day.

18:42:41

Brent crude oil futures for the most active contract rose 1.07% to $68.06 per barrel on the day.

18:41:51

Brent crude oil futures, the most active contract, just touched the $68.00 per barrel mark and is currently trading at $68.00 per barrel, up 0.98% on the day.

18:30:35

Iran and Russia have reached a final agreement on oil field development. (Islamic Republic News Agency)

17:26:21

The Governor of the Central Bank of Romania stated that a stronger response to last year's tax increases would have further damaged economic growth. The latest inflation forecast does not take into account the government's plan to extend the gas price cap for another year.

16:26:40

[Glencore's Full-Year Profit Drops 6% Despite Record Copper Prices] ⑴ Glencore announced its full-year results on Tuesday, with core revenue of $13.5 billion, a 6% decrease from the previous year. Despite record copper prices, the decline failed to offset the drop in revenue from its massive coal business. ⑵ The weakness in the coal business was the main factor dragging down overall profits. The decline in coal prices eroded some of the revenue, highlighting the structural challenges faced by the commodities giant during the energy transition. ⑶ Despite the profit decline, Glencore announced it will return $2 billion to shareholders, including an additional $800 million in dividends. This move demonstrates the company's confidence in its cash flow and balance sheet. ⑷ In its trading business, Glencore's oil trading volume will reach 4.2 million barrels per day in 2025, a significant increase from 3.7 million barrels per day in 2024, indicating continued expansion of its energy trading business and providing support for overall performance.