Brent Breaks $70 as Demand Outlook Brightens and Glut Fears Subside
TL;DR Summary
Oil prices rose to about $70 Brent on heightened Iran-related risk, while Standard Chartered argues the bearish glut narrative is fading as 2026 demand forecasts are revised higher; the IEA projects modest growth for 2026, U.S. shale growth may slow on weak prices, and gas markets rally on Arctic weather with LNG capacity expansion looming.
- StanChart Bearish Oil Glut Narrative Fades as Brent Breaks $70 Crude Oil Prices Today | OilPrice.com
- Oil prices rise more than 3% as Trump weighs strikes on Iran CNBC
- Oil Steadies After Three-Day Rally as Traders Weigh Iran Risks Bloomberg
- Oil Futures Extend Gains on U.S.-Iran Tensions - WSJ The Wall Street Journal
- Oil hovers near multi-month highs as Trump considers Iran strike Reuters
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