The oil market just did something remarkable. After spending months pricing in tanker attacks, shut-in production, damaged LNG facilities, and the largest supply disruption in modern oil market history, traders are suddenly betting the crisis is ending. Brent is now down more than 33% over the past month, while WTI has plunged to the mid-$70s.
A weeks-long strike action at the Ichthys LNG facilities in Australia is coming to an end after trade unions and Japanese energy company Inpex reached an agreement on pay and benefits.
Curious Minds Corner
Could fracking’s origins in 1940s experiments change how we view “new” energy tech?
Yes—Stanolind Oil first used it in 1947 to boost wells, proving many “revolutionary” methods have deep roots.