ExxonMobil CEO Darren Woods and Chevron upstream president Clay Neff have canceled plans to attend ADIPEC in Abu Dhabi over security concerns, per Reuters, as Washington weighs more military action against Iran. #ADIPEC#Exxon#Chevron#Iran
Oil prices eased after VP JD Vance reached out to Iran's Mohsen Rezaei to restart peace talks. Brent traded at $114.14 and WTI at $101.45, down from Wednesday but still well above early October levels. #Oil#OilPrice#Brent#Iran
Iran may include a $130-a-barrel oil scenario in its next budget, per Fars News, but the US blockade in the Gulf of Oman has stranded at least 50 laden Iranian tankers inside the Persian Gulf, per UANI. #Oil#Iran#Tankers#Hormuz
Oil traders are bracing for renewed U.S.-Iran hostilities after the Nov. 3 midterms, ING says. If the elections pass without new strikes, the market's risk premium could start to erode and prices would likely drop. #Oil#Iran#Crude#Midterms
Americans are absorbing the biggest share of war-driven fuel inflation, per CREA: $160 billion of a $468 billion global total, or $471 per person vs. a $60 global average. Oil-burning cars are blamed. #OilPrice#Gasoline#Energy#Iran
