Markets

The past week saw significant rebalancing in oil markets, with prices ultimately falling after an initial surge, as geopolitical fears eased and supply expectations shifted.

The US airstrikes on Iranian nuclear facilities on Jun. 21 have plunged global oil markets into a new era of uncertainty and heightened geopolitical risk.

The future of the volatile and uncertain oil market in the near term is heavily skewed by the recent escalation of geopolitical tensions in the Middle East, while underlying global economic factors present a mixed picture.

The global oil market is currently characterized by divergent price expectations and significant geopolitical risks, leading to a complex and volatile environment.

The crude oil market is currently in a state of consolidation around the mid-$60/b level, as participants keenly await the outcome of the upcoming OPEC+ meeting.

A new federal assessment by the US Geological Survey (USGS) has identified

Goldman Sachs analysts suggest that OPEC+ is likely to pause further oil production increases after a final 411K b/d hike in Jul., anticipating that deteriorating global economic conditions will prompt this reassessment.

The US shale industry finds itself squeezed

The definitive shutdown of Scotland's sole oil refinery in Grangemouth on Apr. 29, 2025, signifies a considerable transformation within the UK's energy sector.