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Trump's unpredictable Iran rhetoric has maintained oil price optimism, despite rising supply and Kazakhstan's production return, with Brent crude ending the week above $70 per barrel.

Exxon's earnings beat estimates despite low oil prices, indicating the company's resilience in a challenging market environment.

Exxon Mobil Corp.

Gold prices surged due to increased geopolitical risk following fresh Iran-related rhetoric from US President Donald Trump, briefly reaching $5,600.

Sanctions imposed by the EU and US led to a 20% decline in Russian oil revenues in 2025, driven by a widening discount between Russian crude and international benchmarks, and a stronger ruble.

Brent crude futures have reached $70 a barrel, driven by US President Donald Trump's escalating threats against Iran, marking the first time since September that the price has reached this level.

Cuba's oil reserves are dwindling due to reduced crude exports from Venezuela and Mexico, exacerbated by the US blockade of Venezuela, leaving the country with only 15-20 days of oil left.

Afreximbank has provided a $17.5 billion financing facility to Angola's national oil company Sonangol to support oil trading operations and general corporate funding needs, amidst structural decline and international scrutiny.

US crude oil inventories dropped by 2.3 million barrels, pushing prices higher as stockpiles are now 3% below the five-year average.

Oil tanker rates are experiencing a surge due to supply disruptions, longer routes, and sanctions, leading to multi-year highs in the global supertanker market.

Oil prices surged due to weather disruptions and geopolitical tensions, with Brent reaching $67 and WTI nearing $62 per barrel, indicating a potential long-term impact on the market.

PetroChina, a Chinese state-owned oil giant, has expressed reluctance to purchase Venezuelan crude despite the US lifting sanctions, citing US control over the trade.