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$70 WTI and What the Market Just Told Us: Day-Close Verdict for US Upstream

$70 WTI and What the Market Just Told Us: Day-Close Verdict for US Upstream

WTI crude settled near $70 on Thursday, and the market's verdict is clearer than the headlines suggest: OPEC's cohesion is cracking, US upstream operators are repricing their second-half assumptions, and the companies that moved earliest to consolidate their balance sheets are now sitting in the

Iraq Threatens OPEC Exit as WTI Breaks $70: Thursday's Supply Math Just Changed

Iraq Threatens OPEC Exit as WTI Breaks $70: Thursday's Supply Math Just Changed

WTI broke below $70 overnight as Iraq threatened to quit OPEC over production quotas, Qatar restored LNG output, and the floor debate that defined June gets answered.

The Deal That Did Not Deal: WTI Holds $76 as Hormuz Goes Quiet Again

The Deal That Did Not Deal: WTI Holds $76 as Hormuz Goes Quiet Again

WTI closed at $76.54. The Hormuz talks collapsed before they began. Kuwait pledged 2 million bpd. And the market barely moved. Here is what that tells operators about where we are.

Iran Deal Progress Sends WTI to $84: Friday's Peace Premium Unwind

Iran Deal Progress Sends WTI to $84: Friday's Peace Premium Unwind

WTI drops 4% as U.S.-Iran deal framework emerges, India's budget shows oil importer stress, and the H2 production services repricing window narrows.

OPEC+'s Fourth Hike Doesn't Move the Needle: WTI Holds $88 as Peace Premium Drains

OPEC+'s Fourth Hike Doesn't Move the Needle: WTI Holds $88 as Peace Premium Drains

Four consecutive OPEC+ output hikes haven't moved WTI off $88. That's the market repricing the Hormuz premium faster than Gulf producers can restore credibility.

OPEC+ Adds 188K Bpd in July — WTI Closes at $88 and the Unwind Math Gets Harder

OPEC+ Adds 188K Bpd in July — WTI Closes at $88 and the Unwind Math Gets Harder

WTI spent most of Tuesday absorbing a supply shock it saw coming — and closing at $88.34/bbl anyway. The OPEC+ decision announced Saturday to add 188,000 barrels per day in July wasn't a surprise in mechanism; it followed the same phased-unwind playbook the group has

IEA Flips to Deficit, Iran Cracks the Door: What Wednesday's Numbers Mean for US Upstream

IEA Flips to Deficit, Iran Cracks the Door: What Wednesday's Numbers Mean for US Upstream

The IEA doesn't flip its annual balance from surplus to deficit without a reason. Today it did, and the reason is sitting at the bottom of the Persian Gulf. The agency's May 2026 Oil Market Report projects global supply will fall 3.9 million barrels per