Oil: Supply risks and cautious OPEC+ hike – BNY
BNY's Bob Savage reports that Brent and WTI surged around 4–5% as Iran–Israel missile exchanges raised fears of supply disruption and higher global inflation. Savage notes EU natural gas also climbed, while OPEC+ members agreed a modest 188,000 b/d production increase from July 2026 with flexibility to adjust. The balance between conflict risk and incremental supply will guide Oil pricing near term.
Middle East tensions drive crude higher
"WTI up 4.7% to $94.80, Brent up 4.7% to $97.50 – both reflect Iran/Israel missile exchanges and doubts about President Trump’s 60-day ceasefire negotiations."
"EU natural gas also moved higher, up 5% to €51.2, the most in three weeks, linked to the same fears of ongoing supply disruption."
"Draws could rise further to around 11 mb/d in June."
"Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman said they will implement a combined oil production hike of 188,000 b/d in July 2026."
"The group said the move reflects a cautious approach to supporting market stability amid evolving market conditions, while retaining full flexibility to increase, pause or reverse the phased withdrawal of cuts, including those announced in November 2023."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
With CoreWeave fueling the AI frenzy, can Nebius (NBIS.US) defend the AI computing power rally with explosive performance?
At Wednesday’s US stock market close, strong earnings reports and financing plans from CoreWeave drove collective gains in the storage chip, AI chip, optical interconnect, and new cloud sectors. CoreWeave and Nebius surged by approximately 24.7% and 15.4%, respectively. However, after the bell, media reports regarding another extramarital affair involving Jensen Huang and discussions by the board about his tenure caused Nvidia to drop more than 8%, putting pressure on the prices of most AI computing power-related stocks.
Morgan Stanley: The expansion value of BHP South Australia copper mine is still underestimated, on-site inspection may become a catalyst for revaluation, “Overweight” rating maintained.
Morgan Stanley released a research report, maintaining an "Overweight" rating on BHP Group Limited (Australian shares) and a target price of 68 AUD.
Deutsche Bank remains bullish on Palo Alto Networks (PANW.US) ahead of earnings: Q1 results expected to be solid, platform advantages will help expand market share.
Deutsche Bank's latest research report predicts that Palo Alto Networks will deliver solid performance in the first quarter, with all key metrics exceeding market expectations, although the margin of outperformance may narrow compared to the previous quarter.
On the eve of Anthropic (ANT.US) IPO: $19 billion in passive buying on the way, will “SpaceX-style” index arbitrage be repeated?
From SpaceX to Anthropic: Giant new listings adopt a new approach.
Crypto prices
More
