Oil prices declined on Wednesday following an unexpected increase in U.S. crude inventories, as investors evaluated supply risks after Saudi Arabia halted oil loadings at its Yanbu port in the wake of an attack on its East-West pipeline to the Red Sea. Brent crude futures declined by 93 cents, representing a decrease of 0.86%, settling Read More
Oil prices increased by over a percent on Tuesday, driven by heightened concerns regarding supply disruptions following attacks on Saudi Arabia’s energy infrastructure, which rendered the kingdom’s East-West pipeline inoperative. This development has raised new uncertainties about the effectiveness of measures aimed at mitigating shipping risks in the Gulf. On Monday, Houthi forces, supported by Read More
Oil prices continued to rise sharply on Monday, rising 3% to almost $108 per barrel as new developments in the Middle East alarmed investors about worsening disruptions to the world’s energy supply throughout the war. Saudi Arabia and Iranian attacks on ships in the Gulf have heightened supply concerns in the wake of the closure Read More
Oil prices increased once more on Friday, with both primary benchmarks poised to conclude the week exceeding $100 a barrel for the first time since mid-May. This rise occurred as increased attacks along key Middle East shipping routes heightened concerns about a prolonged disruption to oil supplies. Iran-aligned Houthis seized control of Yemen’s port of Read More
Oil prices increased for a fourth consecutive session on Wednesday, rising more than $1 in early trade following Iran’s new attacks on U.S. military assets in the Gulf, as the conflict between Washington and Tehran continued to escalate across the region. Iran’s Revolutionary Guards announced that they targeted two U.S. destroyers and what they referred Read More
Oil prices extended their gains on Tuesday amid heightened concerns regarding a prolonged conflict in the Middle East. This escalation follows Iran’s threats of retaliation against any further US attacks on its assets, which raises apprehensions about potential disruptions to crude supplies. Iran stated on Monday that energy infrastructure throughout the Gulf, encompassing US oil Read More
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
