Oil Futures Decline on Prospects of Increased Supply -- Market Talk

Dow Jones06-23 21:34

0934 ET - Oil futures are lower as the U.S. waives sanctions on Iranian oil, which along with a reopening of the Strait of Hormuz is seen freeing more oil into the market. Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to "critically low levels" which could continue for several weeks, Ritterbusch & Associates says in a note. "Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned." WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com)

(END) Dow Jones Newswires

June 23, 2026 09:34 ET (13:34 GMT)

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Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to \"critically low levels\" which could continue for several weeks, Ritterbusch &amp; Associates says in a note. \"Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned.\" WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 09:34 ET (13:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Futures Decline on Prospects of Increased Supply -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Futures Decline on Prospects of Increased Supply -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-23 21:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0934 ET - Oil futures are lower as the U.S. waives sanctions on Iranian oil, which along with a reopening of the Strait of Hormuz is seen freeing more oil into the market. Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to \"critically low levels\" which could continue for several weeks, Ritterbusch &amp; Associates says in a note. \"Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned.\" WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 09:34 ET (13:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DRLL","symbol_name":"Strive U.S. Energy ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2645883174","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2645883174","pubTimestamp":1782221640,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0934 ET - Oil futures are lower as the U.S. waives sanctions on Iranian oil, which along with a reopening of the Strait of Hormuz is seen freeing more oil into the market. 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Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to \"critically low levels\" which could continue for several weeks, Ritterbusch & Associates says in a note. \"Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned.\" WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  June 23, 2026 09:34 ET (13:34 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2645883174","isCrawlerRequest":true}