Abu Dhabi National Oil Company & West Texas Intermediate

Abu Dhabi National Oil Company: Abu Dhabi National Oil Company (ADNOC) plans to award 200 billion dirhams ($55 billion) in projects for 2026-2028, reinforcing its five-year capital expenditure plan to meet growing global energy demand, aligning with the United Arab Emirates' strategy to boost output.

West Texas Intermediate: West Texas Intermediate crude prices have seen volatility due to the Iran war and supply constraints, with the United Arab Emirates' departure from OPEC potentially influencing future price dynamics.

Abu Dhabi National Oil Company: An empty crude oil tanker belonging to Abu Dhabi National Oil Company was attacked by Iranian drones while attempting to transit the Strait of Hormuz.

West Texas Intermediate: West Texas Intermediate crude rose significantly due to the escalation of attacks in the Middle East Gulf, settling at $106.42.

Abu Dhabi National Oil Company: A liquefied natural gas tanker managed by Abu Dhabi National Oil Company successfully crossed the Strait of Hormuz, indicating some limited movement despite the general blockade.

West Texas Intermediate: West Texas Intermediate crude futures rose as a result of the ongoing conflict and the uncertainty surrounding oil supplies.

Abu Dhabi National Oil Company: Abu Dhabi National Oil Company made inquiries for very large crude carriers, suggesting a potential increase in crude oil exports from the Middle East.

Abu Dhabi National Oil Company: Abu Dhabi National Oil Company made inquiries for very large crude carriers, suggesting a potential increase in crude oil exports from the Middle East.