Global Oil Markets news and market signals

South America is experiencing an oil export boom, with regional producers collectively increasing shipments more than the U.S. has year-to-date. This surge is driven by new production and a global demand for crude not reliant on the Strait of Hormuz.

The U.S. administration is reportedly looking to end sanction waivers that permit the sale of Russian oil, a move that could tighten global supply. The decision rests with the Treasury Department and follows repeated extensions of the current waiver.