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
Gold declined on Wednesday, reaching its lowest point in almost a week. This movement coincided with U.S. military actions in Iran, which propelled oil prices and the dollar upward. Such developments have heightened worries that inflation may persist, potentially leading to sustained higher interest rates that could negatively impact non-yielding bullion. Spot gold declined by Read More
Oil prices experienced a decline in early trading on Thursday following Qatar’s announcement that indirect discussions between Iran and the U.S. had achieved “positive progress” during the negotiations held in Doha, which wrapped up on Wednesday. The discussions centred on the Strait of Hormuz, which is responsible for one-fifth of the global oil supply. Brent Read More
Oil prices extended losses on Thursday, erasing all gains attributed to the Iran conflict, as tankers stranded near the Strait of Hormuz resumed transit following an initial agreement aimed at concluding the U.S.-Israeli war with Iran, which alleviated concerns regarding potential supply disruptions. U.S. Energy Secretary Chris Wright stated on Wednesday that oil flows through Read More
Oil prices experienced a decline on Monday following U.S. President Donald Trump’s announcement regarding efforts to release ships trapped in the Strait of Hormuz. Nevertheless, the absence of a peace agreement between the U.S. and Iran maintained prices above the $100 mark. Brent crude futures declined by 64 cents, representing a decrease of 0.59%, settling Read More
Oil prices experienced a modest decline on Wednesday as negotiations between the United States and Iran advanced, fostering optimism for a reduction in bilateral tensions and diminishing the likelihood of supply disruptions from the Middle Eastern oil producer. Brent futures declined by 3 cents, representing a 0.04% decrease, settling at $67.39 per barrel at 0139. Read More
Oil prices declined approximately 2% on Thursday following the agreement between the U.S. and Iran to engage in discussions in Oman on Friday. This development alleviated apprehensions regarding a potential military conflict that could interfere with supply from the crucial Middle East-producing region. Brent crude futures declined by $1.44, representing a decrease of 2.07%, settling Read More
