- Oil gains continue after Trump accelerates Russian deadline for ceasefire
- The WTI prompt-month contract rose $0.47 to $67.18/Bbl Tuesday morning (7:45 AM CT)
- Trump threatened “secondary sanctions” if a ceasefire deal was not reached by Russia in 10-12 days
- Kremlin spokesman Dmitry Peskov said Russia will continue its war efforts in order “ensure our interests in the course of this settlement”
- Keshav Lohiya of Oilytics says that given the President’s historical record “he will back down if this leads to a further flat price rally”
- Enterprise expects robust production growth in Permian despite weak oil prices (Bloomberg)
- According to Anthony Chovanec, senior vice president for fundamentals and commodity risk assessment, Enterprise sees oil production in the Permian holding up despite the drop in crude prices
- The midstream giant expects production growth of 800 MBbl/d in the Permian between 2025 and 2027
- However, if prices fall further the forecast could be revised to as low as 600 MBbl/d
- Houthis to ramp up shipping attacks (Bloomberg)
- According to Yahya Saree, a Houthis spokesman, the Yemeni militants pledged to target any ships with links to Israeli ports
- The group says it will cease operations if aggression against Gaza stops and the blockade is lifted
- The Joint Maritime Information Center has advised vessels to “conduct a thorough assessment of their company business structure and previous port calls to identify any associations that may place the vessel at risk”
- According to Yahya Saree, a Houthis spokesman, the Yemeni militants pledged to target any ships with links to Israeli ports
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