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The Latest Breaking News from Warren Patterson

Goldman Sachs Raises Oil Forecasts For 2026 As Strait Of Hormuz Remains Closed

Goldman Sachs has elevated its oil forecasts for the year as the Strait of Hormuz remains closed and prices continue to be elevated.

International Business Times

Iran strikes neutralise record IEA reserves release as oil tops $100

Iran strikes neutralise record IEA reserves release as oil tops $100

Oil spiked above $100 a barrel on Thursday following fresh Iranian attacks on Omani oil storage facilities, reversing any downward pressure from the IEA's record release of 400mn barrels announced the previous day.

'Buying the dip': Gold rebounds after brutal sell-off

'Buying the dip': Gold rebounds after brutal sell-off

Gold rebounded on Tuesday after extended losses following Trump's nomination of Kevin Warsh as new Fed chair last week.

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OPEC+ Slated To Increase Oil Output In Bid To Regain Market Share

Saudi Arabia, Russia and six other key members of the OPEC+ alliance are expected to further hike oil production in a meeting Sunday, a move analysts say is aimed at regaining market share amid resilient crude prices.

International Business Times

Israel-Iran conflict fuels best month for energy stocks since 2022

European energy stocks soar as the Israel-Iran conflict drives Brent crude up 20% in June. The EURO STOXX 600 Energy index has gained 8% over the same period, on track for its best month since October 2022.

Israel-Iran crisis: How vital is the Strait of Hormuz for oil market?

Tensions between Israel and Iran have raised fears of disruption in the Strait of Hormuz, a vital route for global oil and LNG. Experts warn that even the threat of closure could rattle markets and push energy prices sharply higher.

Gas Prices Soar as Indefinite Halt of Nord Stream 1 Kindles Winter Fears

Dutch and British wholesale gas prices soared on Monday morning, reversing most of a downward trend seen the previous week, after Russian gas deliveries to Germany via the Nord Stream 1 were suspended indefinitely over the weekend. The British contract for day-ahead delivery sky-rocketed 200 pence, or 133% to 350…

Asharq Al-Awsat

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