Oil prices fell by $4 a barrel on Monday following U.S. President Donald Trump’s decision to refrain from launching a new offensive against Iran, as he aims for a swift agreement that would curb Tehran’s nuclear aspirations and restore access to the Strait of Hormuz. Brent crude futures decreased by $4.08, representing a decline of 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
Oil prices relinquished a portion of their recent gains on Thursday, as oil tankers persisted in their departures from the Middle East, despite the intensifying tensions in the region, with the U.S.-Iran conflict extending beyond its primary battlegrounds. Brent futures declined by $1.29, representing a decrease of 1.42%, settling at $89.45 per barrel as of Read More
Oil prices increased by 5% following three consecutive days of declines, as hostilities reignited in the Middle East, concluding a period of relative tranquillity and rekindling worries about possible interruptions to energy supplies. The action was prompted by a report from the U.S. military indicating that it had intercepted an Iranian “surprise attack” on its Read More
Oil prices declined by 1% on Tuesday as market participants continued to assess a potential pause in U.S. strikes on Iran, which has fostered optimism regarding a diplomatic resolution to their conflict and the normalisation of energy flows in the Middle East. Brent crude futures experienced a decline of $0.54, representing a decrease of 0.6%, Read More
Oil prices experienced a decline of more than 5% on Monday, attributed to the cessation of strikes between the US and Iran over the weekend, which followed a fortnight of hostilities. The pause has elevated expectations that diplomatic efforts may facilitate a resolution to the conflict, potentially restoring normal shipping operations through the Strait of Read More
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 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 surged by 3% on Monday, with Brent exceeding $90 a barrel, as the United States and Iran intensified their military actions in the Middle East, leading to a reduction in energy shipments through the Strait of Hormuz. Brent crude futures increased by $2.69, representing a 3.05% rise, reaching $90.79 by 2343. This marks Read More
