Europeans continue high fuel use despite oil price spike, pointing to inelastic demand in energy markets.
Saudi oil exports to China set for deep June plunge as OPEC+ cuts and Russian discount barrels reshape Asian crude trade flows.
FTSE 100 futures rise 0.8%, oil climbs 2.3% on Hormuz risk, and the pound falls to $1.2870, lifting UK blue-chip stocks.
Physical oil buyers backed away, easing the squeeze and dragging prompt futures lower — a bearish short-term signal for crude.
Oil loading delays at Oman's port disrupt crude flows, sparking fears of a supply squeeze that lifts oil prices.
Sabotage threats against Europe's power networks force a security overhaul, driving up costs and operational risk for the utilities sector.
Oil ticks higher on Gulf clashes that risk derailing ceasefire, driving crude supply concerns and short-term bullish momentum.
U.S. considers military-base oil to refill SPR, pressuring crude prices and energy assets.