Energy

Gasoline futures hit one month low

US gasoline futures were trading at $3.20 per gallon in late May, close to their lowest level in more than a month, as a White House official confirmed an Axios report that US and Iranian negotiators had reportedly agreed to...

Is this worth a 5% drop in oil?

Oil prices fell sharply on Wednesday after U.S. Secretary of State Marco Rubio said the U.S. would give talks with Iran “every chance to succeed.”...

Oil bulls just got a big call

Investment bank Piper Sandler has taken a cautious view, telling clients it expects the Strait of Hormuz to remain largely closed and oil prices to reach new highs....

Can diplomatic optimism hold until U.S. markets reopen?

The next test comes when U.S. markets reopen after the Memorial Day closure. Monday’s move showed that investors are willing to buy European equities when energy risks ease....

Is the NACHO oil trade returning?

Oil prices fell on Thursday as markets weighed the possibility of a U.S. and Iran deal. Another factor easing supply concerns is Abu Dhabi National Oil Co’s progress on a second pipeline designed to bypass the Strait of Hormuz and...

The oil market’s “veneer of stability” 

Reported by CNBC, Jeff Currie, executive co-chairman at Abaxx Commodity Exchange, said physical shortages could hit Europe “any day now,” while analysts at Societe Generale have described the market as operating under a “veneer of stability....

From TACO to NACHO: The trade putting inflation back on the menu

NACHO, short for “Not A Chance Hormuz Opens,” reflects a market view that tensions in the Middle East are unlikely to ease anytime soon. Earlier this week, U.S. President Donald Trump again rejected Iran’s latest peace proposal, pushing oil futures...

What traders are reacting to right now

U.S. stocks moved higher as investors reacted to signs of progress toward a potential U.S. and Iran agreement, alongside another strong session for AI related stocks....

Why did UAE quit OPEC?

The United Arab Emirates will leave OPEC effective May 1, in a major blow to the oil cartel. In February, the UAE was OPEC’s third-largest producer, behind Saudi Arabia and Iraq....
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