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Iran and Oman have reportedly finalized a draft deal to reopen the Strait of Hormuz, pending approval from Supreme Leader Khamenei. But transit fees remain unresolved and tanker traffic is still far below normal. #Oil #Hormuz #Iran #EnergyMarkets
https://t.co/ZQnu7goLbL
https://t.co/ZQnu7goLbL
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U.S. oil product inventories keep tightening despite crude market volatility, reinforcing strong refining margins. Low gasoline, diesel and jet fuel stocks continue to support refiners even as traders focus on U.S.-Iran diplomacy. #Oil #Refining #EnergyMarkets #OOTT
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Refining—not crude—is driving Big Oil's windfall. Record fuel margins pushed Shell, TotalEnergies, ExxonMobil and Chevron to their strongest Q2 earnings in years as diesel, gasoline and jet fuel supplies remained critically tight. #Oil #Refining #OOTT #EnergyMarkets
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Oil prices plunged nearly 6% as markets bet a U.S.-Iran deal to reopen the Strait of Hormuz is close. But with shipping traffic still severely constrained and no agreement signed, traders may be pricing in peace too soon. #Oil #OOTT #Iran #EnergyMarkets
https://t.co/VLuBCsCAjL
https://t.co/VLuBCsCAjL
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JPMorgan warns a "super" El Niño combined with $100 oil could prolong global inflation. The bank sees an 81% chance of a super El Niño this year, with food inflation potentially rising 1.3%-1.5% as energy costs amplify crop disruptions. #Oil #Inflation #ElNino #EnergyMarkets
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