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 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 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 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 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
