The Business Times
business-time-50

Oil market calm masks a host of unknowns

Traders are mostly operating in the dark regarding inventory, global demand and geopolitical uncertainty

Summarise
google-preferred-sourceAdd BT as a preferred source
阅读简体中文版 (beta)
    • Oil storage tanks and facilities of Xinhai Oils Storage Co in China's Zhejiang province. China does not publish timely or comprehensive consumption data, creating a big unknown for the oil market.
    • Oil storage tanks and facilities of Xinhai Oils Storage Co in China's Zhejiang province. China does not publish timely or comprehensive consumption data, creating a big unknown for the oil market. PHOTO: REUTERS

    Ron Bousso

    Published Tue, Jun 9, 2026 · 07:15 AM

    [LONDON] The biggest oil supply shock in decades has entered its fourth month – with no resolution in sight as neither the US nor Iran appears willing to budge –- yet the market remains surprisingly calm.

    This disconnect reflects an uncomfortable reality: the biggest drivers of today’s energy market are a host of unknowns.

    The renewed strikes between Iran and Israel over the weekend have sent oil prices up over 4 per cent to US$98 a barrel on Monday (Jun 8), but Brent crude remains well below levels seen only a few weeks ago and comfortably within the range of the past two decades.

    Oil and gasStrait of HormuzIran war

    TRENDING NOW

    As at Mar 31, 2026, DBS’ CET1 ratio stood at 16.9%.

    DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank

    The household market income of all three major ethnic groups rose in real terms between 2020 and 2025, said the General Household Survey report.

    About 1 in 7 Singapore families has income of at least S$30k a month; share almost doubled in 5 years

    Vincent Tan, founder of Berjaya Group, has reduced his holdings in multiple companies within the group.

    Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan

    Hong Kong youth no longer see a stable job and a lifetime of work as the only life goal – instead, they place greater emphasis on freedom and quality of life.

    Not in education, employment or training: Why more Hong Kong youths are opting out of work

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More