UAE's ADNOC lowers crude OSP to USD 63.06/bbl for February (vs January's 65.53)
Newsquawk Staff ·
UAE's ADNOC lowers crude OSP to USD 63.06/bbl for February (vs January's 65.53)
What it means
ADNOC's decision to lower its official selling price (OSP) for crude oil signals a supply-side adjustment that could impact global oil pricing dynamics. This 2.47 USD reduction from January suggests a potential oversupply or reduced demand expectations, which may weigh on prices for WTI and Brent benchmarks. Traders should also watch for broader implications on inflation and currencies linked to oil revenues, particularly in the USD and emerging market currencies.
- US Midterms Cheat Sheet for Traders
- Newsquawk US Market Wrap - Stocks mixed on AI rebound ahead of US midterms
- Eight tankers carrying 300,800 tonnes of Russian diesel are being monitored on potential voyages to the US, with seven declaring the US as their destination and arrivals expected from November 7th, according to Ukrainian sources cited by an RFE journalist
- Israel has shared intelligence with the US asserting that Iran is considering the use of chemical weapons against its adversaries, information met with alarm by some American officials and deep skepticism by others, NYT reports citing sources
- US EQUITY OPEN: Tech pares back some recent losses as US/Iran negotiations and US midterms are in focus
Related headlines
- Israeli PM Netanyahu was reportedly the one who proposed to US President Trump the ending of financial aid to Israel, N13 reports citing sources5 days ago
- Iran is reportedly ready to respond to new US aggression that will go beyond the geographical limits of the region, reports Russian Press Ria citing an Iranian political source5 days ago
- TREASURY WRAP: T-NOTE FUTURES (Z6) SETTLE 11+ TICKS LOWER AT 106-165 days ago
- US FX WRAP: Dollar sees two-way trade on geopols as US midterms await 5 days ago
- Sources close to the White House report a divisiveness in the Trump administration's approach to Iran, reports ILNA5 days ago
- US Energy Secretary Wright says overnight strikes on Iran's Qeshm Island have not impacted oil flows; more refined products are coming out of the Arabian Gulf and more will come from India5 days ago
- US President Trump says they have total control of the Middle East. Israel has been a helper.5 days ago
- Newsquawk Daily Economic Releases - 4th November 20265 days ago
- US and Venezuela discuss fresh aluminium cargo amid trade revival, reports Bloomberg5 days ago
- Amgen Inc. (AMGN) Q3 2026 (USD): Adj. EPS 6.45 (exp. 5.79), Revenue 10.4bln (exp. 10.07bln), Adj. operating income 4.7bln (exp. 4.33bln)5 days ago
- [SNAP ANALYSIS] Crude tumbles following source reports by Al Araby Al Jadeed of a US-Iran draft accord5 days ago
- The Mosaic Company (MOS) Q3 2026 (USD): Adj. EPS -0.19 (exp. -0.01), Revenue 3.1bln (exp. 3.05bln)5 days ago
- Advanced Micro Devices Inc. (AMD) Q3 2026 (USD): Adj. EPS 2.09 (exp. 1.95), Revenue 13.4bln (exp. 13.1bln)5 days ago
- Block Inc. (XYZ) Q3 2026 (USD): Adj. EPS 1.13 (exp. 1.03), Revenue 6.72bln (exp. 6.58bln)5 days ago
- Arista Networks Inc. (ANET) Q3 2026 (USD): Adj. EPS 1.20 (exp. 1.08), Revenue 3.66bln (exp. 3.33bln)5 days ago