US EditionOil Inches up on Supply Concerns and Weaker Dollar
- Oil prices rose on Monday due to supply concerns from Alberta wildfires and ongoing geopolitical tensions involving Russia and Ukraine.
- These price pressures followed OPEC+ maintaining a July output increase of 411,000 barrels per day, matching previous months' modest hikes.
- The Alberta wildfires temporarily halted about 344,000 barrels per day of production, equivalent to roughly 7% of Canada’s total output, tightening supply further.
- Brent crude reached $65.18 per barrel and U.S. West Texas Intermediate rose 0.94%, supported also by a weaker U.S. dollar and investor positioning changes.
- Meanwhile, Iran was poised to reject a U.S. nuclear deal proposal, which could prolong sanctions and limit Iranian oil supply, sustaining market uncertainty this year.
18 Articles
18 Articles
Iranian Regime’s Oil Exports to China Surge Sharply in June
Amid rising demand in China, Iran’s oil exports to the country hit a new record in June. According to a Reuters report, orders for oil shipments—particularly from China’s independent refineries—saw a significant increase. According to data from the maritime tracking firm Vortexa, from June 1 to June 20, 2025, China imported more than 1.8 million barrels of Iranian crude oil per day on average. Data analytics company Kpler also reported that Iran…
Oil prices stabilize above $68 on strong summer demand
On international markets, oil prices held above $68 per barrel on Friday, supported by indications of increased demand in the summer driving season in the United States and Europe, as well as growing purchases of Iranian oil from China. On the London market, the price of a barrel of oil in the afternoon was higher by 51 cents compared to the previous day and amounted to 68.24 dollars. A similar increase was recorded on the American market, where…
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