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 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 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 experienced a slight increase on Friday as tensions escalated between the U.S. and Iran, resulting in intensified attacks across the Gulf. The deteriorating truce has constrained oil flows from the Strait of Hormuz, while Tehran has urged the Houthi movement to prepare for potential disruptions to the Red Sea export route. Brent crude 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 experienced a slight decline on Monday following OPEC+’s decision to raise its output targets starting in August. Concurrently, exports from major producers through the Strait of Hormuz are on the rise, which may contribute to an increase in global supplies. Brent crude futures decreased by 24 cents, or 0.33%, to $71.88 a barrel Read More
Oil prices remained stable on Tuesday following a decline in the prior session, as investors concentrated on indications of a sustained recovery in crude shipments via the Strait of Hormuz, a critical waterway responsible for transporting 20% of global oil exports. Brent crude futures increased by 24 cents, or 0.38%, reaching $78.15 per barrel, whereas Read More
