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Brent crude fell 2.00% intraday to $73.67/bbl. WTI slid back below $70/bbl, down 1.87% on the day.

2026-06-26

Brent crude fell 2.00% intraday to $73.67/bbl. WTI slid back below $70/bbl, down 1.87% on the day.

Other News
2026-06-26

Trade sources said on Friday Kuwait Oil Co sold 2 million barrels of July-delivery Kuwait Export Crude (KEC) via tender, on-board delivery to an Indian end-user; price was not disclosed. The sale is part of a recent push by Gulf producers to increase

Trade sources said on Friday Kuwait Oil Co sold 2 million barrels of July-delivery Kuwait Export Crude (KEC) via tender, on-board delivery to an Indian end-user; price was not disclosed. The sale is part of a recent push by Gulf producers to increase crude sales after the US and Iran reached a temporary agreement to end hostilities and reopen the Strait of Hormuz.
2026-06-26

S&P Global Energy said 78 vessels transited the Strait of Hormuz on June 24, the largest single-day passage since hostilities involving the US, Israel and Iran began. This month’s daily average transits have recovered to roughly 57% of pre-conflict l

S&P Global Energy said 78 vessels transited the Strait of Hormuz on June 24, the largest single-day passage since hostilities involving the US, Israel and Iran began. This month’s daily average transits have recovered to roughly 57% of pre-conflict levels. The transit rebound, together with multi-country autumn/winter crude restocking, has driven international tanker freight sharply higher. Domestically the impact is mixed: shipping companies have seen risk premia falls as route tensions ease and higher rates lift earnings, while refiners face margin pressure as rising sea freight increases landed crude costs. Many Chinese refiners are expediting crude replenishment to use the current window.
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