Oil prices increased by over 2%, beginning June on a subdued note, following Israel’s directive for troops to penetrate further into Lebanon amid its ongoing conflict with the Iranian-backed Hezbollah group, notwithstanding a ceasefire declared more than six weeks prior. The escalation in hostilities occurred shortly after the United States facilitated peace talks between Israel Read More
Oil prices experienced a slight decline on Friday, fuelled by optimism surrounding the potential for an agreement between the U.S. and Iran to prolong their ceasefire. Comments from U.S. Vice President JD Vance indicated that the two sides were “close” but “not there yet,” marking the culmination of the decline. Brent crude futures for July, Read More
Oil prices experienced an uptick on Thursday following recent US military actions in Iran, which have rekindled concerns regarding potential disruptions to commercial shipping routes in the Strait of Hormuz. Brent crude, the global benchmark, experienced an increase of over 3%, reaching $97.29 per barrel, while US West Texas Intermediate crude rose by 3.42% to Read More
Brent crude oil prices exhibited volatility on Wednesday after a significant increase in the prior session. The situation was influenced by U.S. strikes in southern Iran and the mixed signals from President Donald Trump regarding negotiations between Tehran and Washington, which contributed to a cautious sentiment among traders. On Tuesday, Iran’s Islamic Revolutionary Guard Corps Read More
Brent crude futures experienced an increase of nearly 2% during early on Tuesday, following the U.S. military’s execution of strikes in southern Iran, characterised as defensive measures. This development has contributed to heightened market tension, as a resolution to the ongoing conflict remains unattainable for both parties. Brent futures increased by $1.40, representing a 1.5% Read More
Oil prices declined to their lowest levels in two weeks on Monday amid increasing optimism that the U.S. and Iran were making progress toward a peace agreement, despite ongoing significant disagreements over critical issues, including restrictions on the Strait of Hormuz that continue to affect Middle East oil supplies. On Saturday, U.S. President Donald Trump Read More
Oil prices experienced an uptick on Friday, driven by investor scepticism regarding the likelihood of a significant advancement in U.S.-Iran peace negotiations. The two parties remain entrenched in their positions concerning Tehran’s uranium reserves and regulatory measures in the Strait of Hormuz. The market, however, continued to trend towards a weekly loss. A senior Iranian Read More
Oil prices experienced a rebound on Thursday following two consecutive days of declines, driven by persistent supply concerns stemming from the ambiguous prospects regarding the conclusion of the Iran conflict. Additionally, a reduction in U.S. inventories heightened apprehensions about the depletion of global stockpiles. Brent crude futures increased by 81 cents, representing a 0.77% rise, Read More
Oil prices declined on Wednesday following U.S. President Donald Trump’s assertion that the conflict with Iran will conclude “very quickly.” However, investors continue to exercise caution regarding the prospects of peace negotiations, given the ongoing disruptions to Middle East supply stemming from the conflict. Brent crude oil futures experienced a decline of 45 cents, representing Read More
Oil prices experienced a decline exceeding 2% during the early hours of Asian trading on Tuesday, following remarks from U.S. President Donald Trump regarding the suspension of a proposed military action against Iran, aimed at facilitating negotiations to resolve the ongoing conflict in the Middle East. Brent futures for July delivery decreased by $3.01, representing Read More
