Author · News Unlimited

Marcus Vance

Focuses on global oil markets, the transition to renewables, and geopolitical energy security.

Articles by Marcus Vance

Oil prices fall sharply after Hormuz deal ends five-month supply crisis

The US Energy Information Administration has cut its 2026 Brent crude forecast by 14% following a US-Iran agreement that reopened the Strait of Hormuz in June. Global markets are now bracing for an oil glut as supply rushes back — but significant geopolitical risks remain.

Business

OPEC+ approves fourth consecutive output hike as Hormuz stays shut

Seven OPEC+ nations have agreed to raise oil production by 188,000 barrels per day for August, their fourth straight monthly increase, even as the US-Iran conflict continues to block most of that oil from reaching global markets.