[WATCH LIVE] Video statement by IEA Executive Director on IEA oil stock release at 14:00 GMT (10:00 EDT)
Newsquawk Staff ·
Video statement by IEA Executive Director on IEA oil stock release at 14:00 GMT (10:00 EDT)
What it means
The IEA's upcoming video statement regarding the oil stock release is significant as it may impact supply expectations in the market. Watch for any indications on the volume of stocks to be released and how this might influence crude prices, particularly WTI, as the market digests the information during both EU and US trading sessions.
Sources
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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