Daily Oil Fundamentals

Bulls Raise with 2 Straits and 1 Canal

23 Jul 2026

Bulls Raise with 2 Straits and 1 Canal

Four vessels were attacked near Caspian Pipeline Consortium’s Black Sea terminal on July 17th, 19th, and 20th as it is not only the war in Iran where the gloves seem to be coming off. Ukraine has now upped the ante in its attacks on Russia and seems prepared to deliver collateral damage to not only internationally flagged vessels, but to the assets of Kazakhstan which has been forced to halt pipeline supplies through the CPC.

Daily Oil Fundamentals

Back to $70 or over $100?

22 Jul 2026

Back to $70 or over $100?

Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements, using its best efforts, for the safe passage of commercial vessels with no charge for 60 days only, from the Persian Gulf to the Sea of Oman and vice versa. The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles, and demining by the Islamic Republic of Iran will be instated within 30 days.

Daily Oil Fundamentals

A Pause For Thought

21 Jul 2026

A Pause For Thought

The price of Brent has paused around the $90/barrel area as the oil market once again comes up against another instance of mixed messaging from the US/Iran war. The US Central Command reported on continued attacks into Iran while the United Kingdom Maritime Organisation informed on another tanker being hit in the region. With Houthis in Yemen announcing a maritime embargo on Saudi Arabia, it appears that the current outbreak of hostilities is showing signs of spreading its theatre.

Insights

Daily Oil Fundamentals