Oil prices fell after OPEC and its allies agreed to increase output. Major oil producers decided to boost supply, a move that directly impacts the global market. This increased supply is expected to exert downward pressure on crude oil benchmarks.
Read moreJULY 6TH, 2026
Oil Prices Fall After OPEC, Allies Agree to Hike Output China's Largest ETF Becomes Gold Fund as National Team Retreats China's largest exchange-traded fund has transitioned into a gold fund, signaling a notable change in investor preference. This shift aligns with the "National Team's" withdrawal from other asset classes. The reallocation of capital into gold suggests a move towards safer assets amidst current market uncertainty.
Read moreOil Prices Fall as OPEC, Allies Agree to Hike Output Oil prices declined following an agreement by OPEC and its allies to boost output. This decision introduces additional supply into the global market. The move follows ongoing discussions regarding worldwide energy demand and production levels.
Read moreShanghai Tin Futures Rise Over 4% to 41,436 Yuan Shanghai tin futures' most active contract rose over 4% in early trading. The price reached 41,436 yuan per metric ton. This movement suggests strong demand or supply concerns for tin within the Chinese market.
Read moreOil Falls on OPEC+ Decision to Increase Output Again Oil prices fell after OPEC+ announced another increase in production. This decision by the oil cartel to boost output again weighed on crude markets. The move signals continued efforts to manage supply levels.
Read moreOPEC+ Agrees To Raise Production Targets, Crude Oil Prices Fall OPEC+ has agreed to increase its oil production targets. This decision led to a decline in crude oil prices. The move addresses previous concerns about supply and indicates a rise in global oil availability.
Read moreJULY 5TH, 2026
OPEC+ Raises August Output by 188,000 BPD Despite Oil Price Slump OPEC+ will increase oil output by 188,000 barrels per day in August. This marks the fifth consecutive monthly supply increase from the group. The decision comes as oil prices have fallen, with WTI down 22% and Brent down 20% over the past month, nearing pre-war levels.
Read moreOil, Gas Tankers Use Oman-Side Route Through Hormuz After U-Turns Oil and gas tankers are now transiting the Strait of Hormuz using a route on the Oman side. This shift follows earlier U-turns by vessels in the area. The new route may offer a more secure or efficient passage for energy shipments.
Read moreIraq's June Oil Exports Total 24.5 Million Barrels Iraq exported about 24.5 million barrels of oil in June. Two oil officials confirmed the figure. This data updates supply information from a key OPEC producer.
Read moreOil Glut Threatens Iran's Stance in Negotiations An emerging surplus of oil could weaken Iran's negotiating position in ongoing talks. This sudden glut may impact global oil prices and shift geopolitical dynamics concerning energy supplies. The development suggests potential downward pressure on crude oil benchmarks.
Read moreOPEC, Allies Hike Output as Hormuz Traffic Recovers OPEC and its allies have again decided to increase oil production. This decision follows a recovery in traffic through the Strait of Hormuz. The move is expected to influence global oil supply and prices.
Read moreOPEC+ Agrees to Raise Oil Output Quotas by 188,000 BPD in August OPEC+ has reached an agreement in principle to increase oil output quotas by 188,000 barrels per day. The production hike will begin in August. Reuters reported the decision, citing a source familiar with the talks.
Read moreIndia Withdraws Emergency Gas Curbs as LNG Supplies Normalize India has lifted its emergency gas restrictions. This decision follows the normalization of liquefied natural gas (LNG) supplies, signaling an end to a period of supply crisis. The withdrawal of these curbs indicates improved availability and a more stable outlook for natural gas in the country.
Read moreOPEC+ Expected to Increase Oil Production Quotas Again OPEC+ is expected to increase its oil production quotas. This anticipated move follows reports of calming geopolitical tensions in the Middle East, which suggests a more stable supply environment for oil. An official announcement detailing specific quota adjustments is pending.
Read moreAustralia Nears Uranium Export Deal With India Australia is reportedly nearing a deal to export uranium to India. The agreement is expected to be signed this week. This development could affect the global uranium market.
Read moreJULY 4TH, 2026
Central Banks Add 41 Tonnes of Gold in May, Largest Since November 2025 Global central banks increased their gold reserves by 41 tonnes in May, marking the largest monthly acquisition since November 2025. This was the third month of net gold purchases this year. Poland led the additions with 18 tonnes, while China acquired 10 tonnes, extending its streak of monthly purchases to 20 consecutive months and bringing its total reserves to a record 2,331 tonnes.
Read moreOil's Reversal Rekindles Global Glut Fears Oil prices have reversed, sparking renewed concerns about a global supply glut. This shift in market sentiment indicates potential downward pressure on crude oil benchmarks. Traders are currently adjusting oil asset valuations in response to these supply worries.
Read moreTankers Reroute in Hormuz, Some Use Iran Route Some oil tankers are rerouting in the Strait of Hormuz, with certain vessels now opting for an Iranian route. This shift could affect shipping times and costs for oil transport. The change in routes may influence global oil prices.
Read moreOil Shipments, Transport Face Lock Down if Blocked Iran's joint military command warned that all oil tankers using the Strait of Hormuz must follow its approved routes or face a "forceful response." Iranian state television reported that any deviation from designated routes or disregard for navigation protocols would lead to immediate action, endangering violating vessels. The command also stated that interference by US forces in the strait would prompt a rapid and decisive reaction.
Read moreRussian Oil Terminal Attacked by Drone Near St. Petersburg An oil terminal in Russia's St. Petersburg region was struck by a drone attack. This incident occurred at a facility that handles oil exports from the Baltic Sea.
Read moreJULY 3RD, 2026
China's State Iron Ore Buyer Extends Restrictions on Fortescue China's state iron ore buyer has extended restrictions on Fortescue. This action may affect the supply and pricing of iron ore. Fortescue's stock could experience downward pressure due to reduced demand from a significant buyer.
Read moreRussia's Black Sea Oil Port Faces Fuel Shortages The Russian Black Sea port city of Novorossiysk is reportedly experiencing fuel shortages following ongoing Ukrainian attacks on Russian refineries. Gasoline production in Russia has fallen 17% to 850,000 barrels per day from 1.03 million a year ago. Crude oil processed into fuel in June was down 25% from a year ago to 3.95 million barrels per day, the lowest level in over two decades.
Read moreRussia's Urals Crude Prices Drop 60% Since March Peak Urals crude prices at western ports have dropped 60% since their peak in March. The price for Russia's Urals crude is now below $45 per barrel. This decline indicates a substantial change in the market for Russian oil.
Read moreQatar LNG Tanker Transits Hormuz, First Export in a Week A Qatari LNG tanker has transited the Strait of Hormuz, marking the first observed natural gas export from the region in a week. This movement suggests a resumption of LNG flows following recent tensions.
Read moreJapanese Buyers Agree to $395/T Aluminum Premiums for Q3 Japanese aluminum buyers and global producers have settled on aluminum premiums of $395 per ton for shipments during the July-September quarter. This represents an 18% increase from the $335 per ton paid in the second quarter. The agreement establishes a key benchmark for aluminum prices across Asia.
Read moreCiti Forecasts Oil May Slump to $60 as Hormuz Shock Fades Citi analysts predict Brent crude oil could fall to $60 per barrel by year-end. This forecast is based on the expectation that disruptions in the Strait of Hormuz will ease. A decline to this level would represent a significant drop from current prices.
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