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 continued to rise for a second consecutive session on Friday, driven by renewed concerns regarding the Strait of Hormuz. This development follows Iran’s proposal, in collaboration with Oman, to restrict the passage of vessels deemed hostile and to impose significant penalties on those who violate the proposed regulations. Brent crude futures increased by Read More
Oil prices declined on Thursday as investors considered indications of advancement in negotiations between Iran and Oman, which may pave the way for a peace agreement between the U.S. and Iran. This development could potentially bring an end to the five-month conflict and facilitate the reopening of the Strait of Hormuz. Brent crude futures declined Read More
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
