Gulf Oil Lubricants India Limited
NSE: GULFOILLUB | Information Technology
Market Fundamentals
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Oil slips after OPEC+ agrees to raise output targets
Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments surged due to refinery damage.
Read Full Analysis โOPEC+ To Ratify Planned Oil Quota Hike As Gulf Flows Resume
Oil futures have tumbled 43% from their war-time peak to near $72 a barrel in London.
Read Full Analysis โIran's Envoy To China Says Beijing To Get Hormuz Concessions
At least eight ships attempting to leave the Persian Gulf along the Omani coastturned backbetween Friday and Saturday, in the latest sign that reopening the strait remains fraught with complexity.
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Oil is little changed as Persian Gulf flows near pre-war levels
Brent futures traded just above $72 a barrel, while West Texas Intermediate was below $69, with volumes depressed due to the US Independence Day holiday
Read Full Analysis โOil prices little changed as US-Iran peace efforts hold
Oil prices saw minimal change as peace talks between the U.S. and Iran offered hope for the Strait of Hormuz's reopening. Despite recent skirmishes, a potential deal is expected to hold, boosting Middle Eastern supply. Gulf producers, including Kuwait and Saudi Arabia, are increasing output, leading to a near-term oil glut and a shift in market structure. This increased availability is outpacing demand, particularly from China.
Read Full Analysis โGulf Carriers Eye Boeing, Airbus Jets As Air India Weighs Delays
Etihad is close to securing about a half-dozen, near-term Boeing 787 Dreamliner slots currently held by Air India.
Read Full Analysis โOPEC Output Surged In June As Hormuz Flows Jumped, Survey Shows
Even before the peace deal, Persian Gulf producers had found ways to sneak cargoes out through the strait, which was largely shuttered in the early stages of the conflict.
Read Full Analysis โCiti sees brent crude sliding to $60/bbl as supply fears ease
Geopolitical tensions easing around the Strait of Hormuz are expected to drive Brent crude prices down to $60 a barrel by year-end, according to Citi. Global energy markets are normalizing, with shipping resuming and Gulf producers increasing output. Despite this, Chinese buyers remain absent, and inventories are lower than anticipated, suggesting a potentially uneven recovery. Other banks share this outlook, anticipating a return to market surplus.
Read Full Analysis โTibetan Activist Dies After Self-Immolation Near United Nations Headquarters In New York City
The man is seen engulfed in flames as thick black smoke rises into the sky.
Read Full Analysis โShip Runs Aground In Strait Of Hormuz: Report
Tankers and cargo vessels are seen in the Gulf of Oman, along shipping routes linking the Strait of Hormuz and the Arabian Sea on June 16.
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