News about PVD

Brent crude is trading near $110 a barrel and U.S. crude near $100, up about 80% and more than 70% respectively since the start of the year. William Blair analyst Neal Dingmann warns of a possible “super spike,” as tanker attacks linked to Iran and record shipping costs tighten physical supply. The U.S. Strategic Petroleum Reserve is at its lowest since 1982, limiting the effect of releases, while heating oil futures have more than doubled this year. Goldman Sachs raised its December Brent forecast to $90 a barrel but sees a possible $125 if oil infrastructure is destroyed or geopolitical risk premiums stay high. Meanwhile, many U.S. producers posted record free cash flow in the second quarter.

According to data from the Tổ chức Hàng hải Quốc tế obtained by TASS, 22 vessels reported being attacked in the Strait of Hormuz from October 1 to 13. The estimated count surpassed the total for all of March 2026, the previous record. The attacks left 15 sailors injured, 2 missing, and 1 ship sunk. October 11 saw the most incidents, with 6 vessels reporting damage, while on October 4 and 13, three vessels each reported damage. The backdrop: the US and Israel launched a war against Iran on February 28, 2026. In June 2026, the two sides signed a memorandum for an immediate ceasefire, but on the night of July 8, the Pentagon resumed large-scale strikes on Iran, accusing it of violating agreements related to the Strait of Hormuz.