CNBC Overtime’s Post

OIL PRICES ROSE AT THEIR HIGHEST LEVELS IN MORE THAN TWO MONTHS   Oil prices rose on Monday to their highest levels in just over two months, driven by the escalation of tensions in the Middle East, the start of hurricane season and the expectations of stronger demand for fuels before going on vacation. DNB analysts summarized that oil prices were driven by escalating tensions between Israel and Hezbollah and a strong Chinese manufacturing Purchasing Managers Index (PMI).   Nearly nine months after the start of the war between Israel and Hamas, Israel bombed the southern Gaza Strip on Monday after Palestinian fighters fired some rockets against its territory. This war also raises fears of a conflict between Israel and Lebanese Hezbollah after an increase in attacks on both sides of the Israeli-Lebanese border. An extension of the conflict is not necessarily what will happen but it is getting a little closer every day, worried Robert Yawger of Mizuho USA.   Another factor that led to rise oil prices was the early and strong start of the hurricane season in the United States and the Caribbean, which continued to raise concerns about a possible impact on production and refining equipment in the Gulf of Mexico, which is not currently affected.   The US National Hurricane Center (NHC) warned that Hurricane Beryl hit the island of Grenada in the West Indies on Monday with devastating winds of up to 240 km/h. Robert Yawger noted that this is the first time it has seen a Category 4 hurricane this early in the season.   The analyst added that this monster storm that occurred at the end of June paints a worrying picture for the rest of the season, prompting investors to bet on higher oil prices.   Finally, the rise in crude oil prices was driven by higher gasoline prices on the eve of a week of holidays in the United States. The markets will be closed on Thursday, July 4th, which is the National Day. #petroleum #crudeoil #oilprices #energy #economy #brent #oil

#Oil prices surged this week as hurricane season began, demand improved, and both U.S. crude and gasoline inventories fell. Rising geopolitical risk around the world only added to bullish sentiment. The onset of hurricane season in the US, improving demand figures that are corroborated by shrinking crude and product inventories, and more visible Chinese buying have come together to lift oil prices to their highest since early May. The market was also reminded of the dysfunctional Red Sea navigation with the Houthis sinking another bulker this week, adding upward pressure to oil prices. 👉 oilprice.com https://lnkd.in/dbrrQYBs #energy #oilgas

Oil prices surge amid strong demand and geopolitical tensions. Latest updates on Brent crude, WTI futures, and Hurricane Beryl's impact on US oil output. #OilMarket #Economy — https://lnkd.in/e2zPujNS

Oil Prices Climb as Middle East Conflict and U.S. Hurricane Loom Global oil markets are facing fresh challenges as geopolitical tensions and weather-related disruptions send ripples through the energy sector. 🟡 Middle East Conflict: The ongoing conflict between Israel and Hezbollah in Lebanon has escalated, raising fears of a broader regional conflict. The situation is particularly concerning for global oil supply, as the Middle East remains a key oil-producing region. Any disruption in this area could have significant consequences on global energy markets. 🟡 Iran's Role: Iran, a major OPEC member, is closely linked to Hezbollah, and rising tensions could pull the country deeper into the conflict, further threatening oil production and exports from the region. 🟡 U.S. Hurricane Threat: Meanwhile, U.S. oil producers in the Gulf of Mexico are evacuating platforms ahead of a potential hurricane. Forecasts suggest this could be the second major hurricane in two weeks, potentially disrupting U.S. oil output—further tightening global supply. 💹 With Brent crude and U.S. crude futures already on the rise, the energy sector is bracing for possible supply disruptions that could drive prices higher in the coming days. #Energy #OilPrices #MiddleEast #HurricaneSeason #Geopolitics #EnergySecurity #GlobalMarkets #BusinessNews #EnergyIndustry

ON THE REBOUND Oil Climbs on China Stimulus, Middle East Conflict and Hurricane Risk - Read More: https://hubs.la/Q02QVScv0 Oil prices jumped more than 2% on Tuesday on news of monetary stimulus from top importer China and concerns that conflict in the Middle East could hit regional supply while another hurricane threatened supply in the United States, the world’s biggest crude producer. Brent crude futures were up $1.76, or 2.4%, at $75.66 a barrel by 1132 GMT. U.S. WTI crude futures rose $1.84, or 2.6%, to $72.21. #oil #oilgas #oilprices #oildemand #oilandgascompanies #energy

Oil prices experienced a surge on Monday, driven by the lingering effects of Hurricane Francine on oil production in the US Gulf of Mexico, which countered concerns about Chinese demand. The storm's impact led to over 12% of crude production and 16% of natural gas output remaining offline, resulting in a slightly bullish outlook. However, market sentiment remains cautious ahead of the Federal Reserve's interest rate decision on Wednesday, with traders increasingly betting on a 50 basis point rate cut. Weaker Chinese economic data, including a slowdown in industrial output growth and declining retail sales, has reinforced doubts about oil demand. Despite these concerns, oil prices have gained around 1% over the past week, although they remain below their August averages. The ongoing impact of Hurricane Francine has provided a temporary boost to oil prices, but the market awaits the Federal Reserve's decision and its potential impact on oil demand. Read full news at https://lnkd.in/dpVYzEYm #OilPrices #HurricaneFrancine #ChineseDemand #FederalReserve #InterestRateCut #OilProduction #Refining #EconomicGrowth #OilDemand #China #USGulfOfMexico #BrentCrude #WTI #OilRefinery #FuelDemand #ExportMargins #OilMarket #EnergyNews #Commodities #Trading #Investing

ON THE REBOUND Oil Climbs on China Stimulus, Middle East Conflict and Hurricane Risk - Read More: https://hubs.la/Q02QVxTL0 Oil prices jumped more than 2% on Tuesday on news of monetary stimulus from top importer China and concerns that conflict in the Middle East could hit regional supply while another hurricane threatened supply in the United States, the world’s biggest crude producer. Brent crude futures were up $1.76, or 2.4%, at $75.66 a barrel by 1132 GMT. U.S. WTI crude futures rose $1.84, or 2.6%, to $72.21. #oil #oilgas #oilprices #oildemand #oilandgascompanies #energy

𝐒𝐨𝐦𝐞 𝐤𝐞𝐲 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐫𝐞𝐜𝐞𝐧𝐭 𝐬𝐮𝐫𝐠𝐞 𝐢𝐧 𝐜𝐫𝐮𝐝𝐞 𝐨𝐢𝐥 𝐩𝐫𝐢𝐜𝐞𝐬. 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐦𝐚𝐢𝐧 𝐩𝐨𝐢𝐧𝐭𝐬: - 𝑷𝒓𝒊𝒄𝒆 𝑺𝒖𝒓𝒈𝒆: Crude oil prices have hit new highs, with West Texas Intermediate (WTI) above $83 per barrel and Brent crude over $86 per barrel. - 𝑮𝒆𝒐𝒑𝒐𝒍𝒊𝒕𝒊𝒄𝒂𝒍 𝑻𝒆𝒏𝒔𝒊𝒐𝒏𝒔: Increased conflicts in the Middle East and political instability in Europe are contributing to market volatility. - 𝑵𝒂𝒕𝒖𝒓𝒂𝒍 𝑫𝒊𝒔𝒂𝒔𝒕𝒆𝒓𝒔: The intensifying hurricane season, particularly with Hurricane Beryl, could disrupt offshore production and tighten supply. - 𝑶𝑷𝑬𝑪+ 𝑷𝒓𝒐𝒅𝒖𝒄𝒕𝒊𝒐𝒏 𝑪𝒖𝒕𝒔: Compliance with production targets, especially by Iraq, and pipeline shutdowns are further constraining supply. - 𝑴𝒂𝒓𝒌𝒆𝒕 𝑫𝒚𝒏𝒂𝒎𝒊𝒄𝒔: Tight market conditions and increased investments in US crude futures indicate confidence in higher prices. #crudeoil #wti #brent #mcx #comex

𝐁𝐫𝐞𝐧𝐭 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐫𝐞𝐭𝐚𝐢𝐧𝐞𝐝 𝐟𝐨𝐫 𝐧𝐨𝐰 𝐰𝐡𝐢𝐥𝐞 𝐨𝐭𝐡𝐞𝐫 𝐠𝐥𝐨𝐛𝐚𝐥 𝐢𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫𝐬 𝐨𝐟 𝐩𝐡𝐲𝐬𝐢𝐜𝐚𝐥 𝐜𝐫𝐮𝐝𝐞 𝐥𝐚𝐠 𝐛𝐞𝐡𝐢𝐧𝐝 In our latest crude market commentary, by Neil Crosby: > North Sea strength continues to price out Brent-linked Atlantic crudes from Asia > WTI remains cheap into Europe but expensive in Asia > Global dirty freight tends to point to demand weakness > WAF overhang appears once again but healthier margins may attract buyers Read full commentary: https://lnkd.in/efkg3tyM #oott #oilandgas #commoditytrading #fintech #trading #crude #insight #data