U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting Countries and its allies.

Crude oil futures stall as traders target $59.51 support zone. OPEC+ output hike and U.S. inventory build reinforce a bearish oil outlook.

European shares have opened higher and Asian stocks were mixed as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt.

If there is a law of unintended consequences, then a good example is how commodity markets are adjusting to both the realities and the perceived threats of the tariff war launched by U.S. President Donald Trump.

A substantial drop in the spot market price for Emirati Murban crude oil has led to a surge in demand from Asian buyers, with a record trade of 10 million barrels reported.

OIL’s fourth-quarter results reflected pressure from lower crude prices and operational margins. Q4 FY25 net profit dropped 22% to Rs 1,591.48 crore from Rs 2,028.83 crore in the same period last year.

Engineers developed a membrane that filters the components of crude oil by their molecular size, an advance that could dramatically reduce the amount of energy needed for crude oil fractionation.

Argentina's exploitation of the Vaca Muerta shale formation is driving a significant increase in oil and natural gas production, positioning the country to become a top South American energy producer and fueling hopes for economic recovery.

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Crude oil prices extended their losses following reports that OPEC+ is considering a further production increase in July, ahead of US-Iran nuclear talks later today. Oil markets remain caught between escalating geopolitical tensions and persistent concerns over a potential oversupply.