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 on Thursday, continuing a streak of losses, as optimism increased for a reopening of the crucial Strait of Hormuz due to diplomatic initiatives involving Iran and Oman. A reopening could alleviate apprehensions regarding supply disruptions stemming from the conflict in the Middle East. Brent crude futures declined by 60 cents, or 0.7%, Read More
Oil prices experienced a slight increase on Tuesday, following a decline of over 2% in the prior session, as investors assessed the implications of stricter U.S. secondary sanctions imposed on Iran. Brent crude futures increased by 6 cents, representing a 0.1% rise, reaching $92.16 per barrel. Meanwhile, U.S. West Texas Intermediate crude saw an uptick Read More
Oil prices stabilised in early trading on Thursday as investors evaluated the implications of the U.S.-Iran conflict and the safety of maritime routes through the Strait of Hormuz. Brent crude futures for October delivery increased by 25 cents, or 0.3%, reaching $91.87 a barrel as of 0037. In contrast, U.S. West Texas Intermediate crude futures 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 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
Oil prices continued to rise on Wednesday amid uncertainty surrounding a potential US-Iran peace agreement and new assaults on shipping, which heightened concerns over additional supply disruptions in the Middle East. The rise occurred notwithstanding industry data indicating a growth in US crude inventories. Brent crude futures increased by 72 cents, or 0.81%, reaching $89.63, Read More
Oil prices increased on Monday as market uncertainty regarding the reopening of the Strait of Hormuz reemerged. Iran announced that a deal with Oman to establish new shipping lanes is nearing completion; however, it emphasised that the United States must fulfilll further conditions prior to the reopening of the waterway. Brent crude futures increased by Read More
Oil prices extended losses on Friday as investors evaluated Saudi Arabia’s proposal to spearhead a multinational maritime defence coalition designed to enhance security along critical Red Sea shipping routes. Saudi Arabia is aiming to lead a coalition focused on strengthening defence collaboration in the Bab El-Mandeb Strait, the Red Sea, and the Gulf of Aden. Read More
