Per Barrel

• OPEC+ announced fresh oil production increase for June 2026, with seven key members—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—collectively raising output by 188,000 barrels per day. • The move follows UAE's exit from the bloc and represents a gradual rollback of voluntary production cuts first introduced in 2023, with officials emphasizing flexibility to adjust output based on market conditions. • This supply boost decision comes amid volatile global crude prices and could directly impact fuel costs and inflation worldwide, particularly affecting energy-dependent economies like India.

Typhoon expected to make landfall Tuesday in Northern Mariana Islands and bring heavy winds, rain and floodingA dangerous super typhoon in the Pacific Ocean is barreling toward a group of remote US islands.Super Typhoon Sinlaku is expected to make landfall Tuesday in the Northern Mariana Islands and bring destructive winds, widespread heavy rain and flooding, the National Weather Service said Monday. Continue reading...

• Crude oil futures surged above $85 per barrel Thursday, driven by ongoing supply constraints from geopolitical tensions and maintenance shutdowns at major U.S. refineries affecting production capacity. • Energy stocks in the S&P 500 gained 2.1% on the session, with exploration and production companies outperforming as rising commodity prices improve profit margins and cash flow forecasts. • Analysts noted that refinery capacity utilization fell to 87% this week, the lowest level since January, suggesting tighter margins ahead for integrated energy companies dependent on downstream operations.

• Brent crude oil prices rose 3.2% to USD 103.42 per barrel, while US oil prices increased 2.9% to USD 96.21 per barrel due to Strait of Hormuz tensions and reduced vessel movement. • The Trump administration plans to ease sanctions on Venezuela's oil sector by issuing permits for foreign companies, aiming to boost crude production and counter soaring prices. • Global oil markets remain volatile as the Strait of Hormuz, through which 13 million barrels pass daily, faces ongoing disruptions from the Iran conflict.

Crude oil benchmarks hover near $100 per barrel, up 70% since early January, with forecasts of $150 highs if the Strait of Hormuz remains disrupted. U.S. fuel prices have risen nearly 35% from January lows, though domestic supplies prevent shortages. Energy producers like Exxon Mobil and Chevron hit record highs, while the Dow Jones fell 6% in a month amid stagflation concerns. Prolonged conflict could reverse Fed rate cuts and pressure consumer sectors further.

US equity futures fell sharply on March 13, 2026, extending a market slide amid Brent oil prices surpassing $100 a barrel due to escalating tensions from the US-Israel war with Iran. Chevron shares rose 30% year-to-date while ConocoPhillips dipped slightly in premarket trading, reflecting energy sector volatility. The rally in oil prices deepened fears of a global inflation spike, with experts warning it poses the biggest risk to macro sentiment. Markets anticipate further volatility as the Trump administration advances second-round tariff investigations on 60 economies.