The Commodities Feed: Ceasefire optimism weighs on energy markets | Metals Mine

  • The Commodities Feed: Ceasefire optimism weighs on energy markets

    From think.ing.com

    The oil market continues to edge lower amid growing optimism that the US and Iran are moving toward a deal. Reports suggest that both sides reached a memorandum of understanding (MoU) that would extend the ceasefire by 60 days and reopen the Strait of Hormuz. Yet this still needs to be signed off on by President Trump. In addition, there has been little colour from the Iranian side regarding the reach of an MoU. A reopening of the strait would offer some immediate relief to the oil market with tankers leaving the Persian Gulf. However, the recovery is still uncertain. Firstly, shipowners could be reluctant to send ... (full story)

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Vancarbon
May 29, 2026 12:24am
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This is all you need to know :

The market is more vulnerable now than it was pre-war, given the significant inventory drawdowns we have seen over the last 3 months. A tighter market means that prices are likely to remain volatile. A slow recovery in supply means that the oil market is unlikely to return to surplus anytime soon.

‘ The latest weekly inventory data from the EIA shows that US commercial crude oil inventories fell by 3.3m barrels over the last week. However, when taking into consideration SPR releases, total crude oil stocks fell by 12.39m barrels. Meanwhile, crude oil exports fell by a significant 1.16m b/d week-on-week to 4.44m b/d, as domestic refinery run rates jumped by 2.9 percentage points to 94.5%. This is broadly in line with the seasonal pickup seen as the US enters the stronger summer demand period. Despite increased refinery activity, gasoline and distillate stocks fell by 2.57m and 2.11m barrels, respectively. ‘
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Trader#FEDF
May 29, 2026 1:09am
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WHAT OPTIMIST YOU IDIOTS ?!!!! No one wont deal !!!!!
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Trader#786E
May 29, 2026 4:34am
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lies
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