Oil prices were on track for a weekly increase on Friday, as assaults by Houthis on tankers in the Red Sea heightened apprehensions regarding a potential closure of another vital shipping corridor. Simultaneously, Kazakhstan implemented a temporary reduction in oil production following the closure of its primary export route. Brent futures declined by 81 cents, Read More
Oil prices increased by over 1.5%, reaching their highest level in more than six weeks on Thursday. This uptick followed the United States initiating a new series of strikes on Iran, while Yemen’s Houthis targeted oil tankers in the Red Sea. Brent crude futures increased by $1.93, representing a 2% rise, reaching $96 by 0011, Read More
Oil prices experienced a modest increase in early trading on Wednesday, driven by heightened concerns over potential supply disruptions. This uptick followed reports that U.S. forces commenced strikes on Iranian military targets for the 11th consecutive night, alongside Kuwait’s announcement of drone attacks attributed to Iran. Brent crude futures experienced an increase of 0.55%, equating Read More
Oil prices declined on Tuesday as traders weighed reports of renewed diplomatic initiatives between the U.S. and Iran against recent military exchanges and threats from Yemen’s Houthis regarding a naval blockade of Saudi Arabia. Brent crude futures declined by 35 cents, representing a 0.4% decrease, settling at $88.87 per barrel. Meanwhile, U.S. West Texas Intermediate Read More
Oil prices continued to rise for a fourth straight session on Thursday, driven by new U.S. strikes on Iranian military targets that intensified worries about a potential escalation in the conflict and the associated risk of supply disruptions in the Strait of Hormuz. The United States on Wednesday targeted Iran’s coastal defence systems and missile Read More
Oil experienced an uptick on Wednesday following President Donald Trump’s decision to reinstate a naval blockade on all Iranian ports, coinciding with Iran’s retaliatory strikes targeting U.S. infrastructure in the region. For the second consecutive session, Brent reached its peak since June 12, while West Texas Intermediate hit its highest point since June 15, continuing Read More
Oil prices increased approximately 2% on Tuesday, building on the significant gains from the prior session to reach their highest point in four weeks. This rise comes amid escalating tensions between the United States and Iran, which have sparked renewed worries regarding global energy supplies. Brent crude futures increased by $1.68, representing a 2% rise, Read More
Following further attacks by the United States, Iran expanded its military strikes to Gulf states, creating fears about the security of energy exports through the Strait of Hormuz. As a result, oil prices increased by more than 4% on Monday. Brent crude futures increased by $3.34, representing a 4.38% rise, reaching $79.5 per barrel. Meanwhile, Read More
Oil prices experienced a slight decline on Friday; however, they are poised for significant weekly gains as tensions between the United States and Iran persist, maintaining a state of unease in the markets. While prices eased in early trade, the broader focus remained on escalating geopolitical tensions that have disrupted energy flows and raised concerns Read More
Oil prices increased by more than 2% on Wednesday following airstrikes conducted by the United States on Iran and the reinstatement of sanctions on Iranian crude sales. This development has reignited concerns regarding the stability of the ceasefire in the Middle East and the potential for new supply disruptions. Brent crude futures increased by $1.62, Read More
