Independent energy research and analysis firm headquartered in Oslo, Norway
The United States has escalated economic pressure on Iran with new sanctions, while markets digest the implications for oil supply and global finance. Iran vows resilience as China defends its interests amid the push. Prices wobble but stabilize after early volatility.
President Donald Trump has ordered the U.S. geographic names database to rename Lake Ontario as “Lake America.” Google has updated Google Maps to show “Lake America” to U.S. users while Canadian users still see Lake Ontario; Apple has not yet changed its maps and MapQuest has refused, triggering a surge in downloads and political backlash.
Oil prices have climbed with Brent above $95 and WTI near $93 as fighting in the Middle East continues to disrupt shipping routes. Analysts say supply fears and demand shifts, particularly from China, are shaping the rally. Markets are also awaiting inflation data and policy signals as bond yields rise globally.
OPEC+ has kept October output targets unchanged while it reviews capacity and sets 2027 baselines, amid Iran disruption and discussions on unwinding current cuts. The group plans to pause further increases in Q4 as it evaluates members' capacity and future quotas.
Gas prices have reached Labor Day highs as US-Iran hostilities persist and a Venezuela oil deal faces questions over enforceability and impact on supply. Officials see potential downward pressure as demand cools after summer, but uncertainty remains about how quickly prices will fall.
Saudi Arabia has closed its 1,200km East–West oil pipeline after a drone attack that Riyadh has blamed on Iranian-backed militias in Iraq. Officials and analysts have said repairs could take three to five weeks, jeopardising 2.6–4 million barrels per day of exports and pushing Brent above $105–$108 a barrel while Houthi gains in the Red Sea are further restricting routes.
The 10-year Treasury yield has hovered around 4.96%, approaching the key 5% level. Analysts say a move above 5% could stem from resilient growth or emerging inflation risks, with implications for stocks, mortgages, and corporate debt. Market dynamics include supply-demand imbalances and potential pressure from fiscal deficits and oil prices.
The Houthis have extended their presence along Yemen’s Red Sea coast, threatening Bab al-Mandeb's vital shipping lane. Iran signals willingness to support talks; the Yemeni government vows a broader offensive to retake captured areas. Global oil markets react as shipping risks rise and regional tensions intensify.
Houthi forces have seized islands and ports on Yemen's Red Sea coast, taken control of access to the Bab al‑Mandeb strait and stepped up missile and drone attacks on Saudi Arabia. Saudi air defences have said they have intercepted incoming drones and missiles while shipping and global oil routes have been disrupted and prices have risen.
JPMorgan has stated it cannot forecast the war’s endgame and its baseline assumptions have been surpassed, signaling persistent oil-market volatility. The bank’s note notes that red lines once thought to constrain prices have not compelled a settlement, and that Hormuz disruptions remain a factor for global supply and prices.
Oil prices have fallen after data showed Asia is set to import its highest monthly crude volume since the US–Iran war began, while traders continue to monitor UN‑level diplomacy and regional tensions. Brent has slipped near $102 a barrel and U.S. crude is trading in the low $90s as markets weigh rising Asian flows against Middle East risks.