Oil prices continued to rise on Monday as new strikes by the U.S. and Iran on vessels in and around the Strait of Hormuz heightened concerns about a sustained disruption to oil supplies from the Middle East. The most recent escalation occurred on Saturday, as U.S. forces targeted three Iranian oil tankers, as reported by Read More
Oil prices increased by half a percent on Friday, positioning themselves for the largest weekly gain since mid-July. This rise was driven by escalating tensions between the US and Iran, which heightened fears regarding possible disruptions to oil supplies originating from the Middle East. The recent US attacks, resulting in numerous fatalities and injuries among Read More
Oil prices increased by more than 2% on Wednesday, building on the significant gains from the prior session, as concerns about potential supply disruptions intensified following overnight strikes exchanged between the US and Iran. The escalation has diminished expectations for a swift alleviation of tensions in the Middle East. The United States announced that it Read More
Oil prices increased by over $2 a barrel on Monday following the United States’ military action against an Iranian island in the Strait of Hormuz, which elicited a response from Tehran as the conflict in the Middle East reached its sixth month. U.S. forces on Sunday targeted two launchers located on Iran’s Larak island in Read More
Oil prices experienced a decline on Friday, marking the potential for their first weekly decrease in three weeks. This movement occurred despite a rise in the previous session, which was influenced by a report indicating that U.S. President Donald Trump was disinterested in reverting to the terms of a prior agreement with Iran. Brent crude Read More
Oil prices declined by 3% on Wednesday, continuing the downward trend from the prior session, as new optimism surfaced regarding the potential reopening of the Strait of Hormuz, following Iran’s announcement of resumed discussions with neighbouring Oman concerning the management of this crucial waterway. The market remains responsive to developments regarding navigation through the Strait Read More
Oil prices approached $92 per barrel in early trading on Wednesday amid escalating tensions in the Middle East. US President Donald Trump stated that the US is not in discussions with Iran, heightening concerns over supply, despite his assurance that the Strait of Hormuz remains open for traffic. Brent crude futures increased by 57 cents, Read More
Oil prices surged past $91 per barrel in early trading on Tuesday, as optimism for a resolution to the conflict in the Middle East waned. Iran announced a shift toward a more aggressive posture, while the United States dismissed the possibility of extending a ceasefire agreement, heightening concerns regarding energy supply. Brent crude futures increased Read More
Oil prices increased by more than one percent during early trading on Monday, attributed to a slowdown in tanker traffic thru the Strait of Hormuz over the weekend. This development occurs amidst the absence of a peace agreement between the United States and Iran, leaving the conflict in the Middle East unresolved. Brent crude futures Read More
Oil prices declined for a second consecutive session on Friday, despite the United States’ threat to maintain a naval blockade of Iran indefinitely, which has reignited concerns regarding crude supplies. The decision was made a day following a decline in oil prices attributed to a less optimistic forecast for global demand. Brent crude futures experienced Read More
