The U.S. Energy Information Administration (EIA) currently expects the average Brent crude oil spot price in 2027 to be $69.39 per barrel, compared to the previous forecast of $64.76 per barrel.

Wall Street Journal reporter Nick Timiraos reports that the market will focus on the month-on-month change in July's inflation data to be released on Wednesday, as an increasing number of FOMC members have indicated that inflation readings over the next few months will determine whether they believe the forecast of “inflation falling back to 2% over the next two years” is still achievable without further rate hikes. However, Federal Reserve Chairman Waller has recently expressed skepticism abou

Currently, U.S. projections indicate that the daily oil supply shortfall of approximately 600,000 barrels, caused by the U.S.-Iran conflict, will persist until the end of 2027. The ongoing conflict continues to hinder oil transportation through the crucial Strait of Hormuz. According to data from the U.S. Energy Information Administration (EIA) Short-Term Energy Outlook, in the second quarter of 2027, oil shipments through the Strait of Hormuz are estimated to reach 4.9 million barrels per day;

The National Oil Corporation of Libya has announced that the fire at the Zawiya refinery has been completely extinguished by firefighters.

Spot gold has just broken through the $4,370.00 per ounce level, and is now quoted at $4,369.99 per ounce, down 0.46% on the day; the main COMEX gold futures contract is now quoted at $4,429.70 per ounce, up 0.23% on the day.