Oil prices increased by more than one percent during early trading on Monday, attributed to a slowdown in tanker traffic thru the Strait of Hormuz over the weekend. This development occurs amidst the absence of a peace agreement between the United States and Iran, leaving the conflict in the Middle East unresolved. Brent crude futures Read More
Oil prices continued to rise on Wednesday amid uncertainty surrounding a potential US-Iran peace agreement and new assaults on shipping, which heightened concerns over additional supply disruptions in the Middle East. The rise occurred notwithstanding industry data indicating a growth in US crude inventories. Brent crude futures increased by 72 cents, or 0.81%, reaching $89.63, Read More
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 increased slightly on Tuesday following significant declines in the prior session, as apprehensions regarding supply risks in the Middle East reemerged amid diminishing expectations for a diplomatic resolution in the U.S.-Iran conflict that has impacted shipments. Front month Brent crude futures increased by $0.71, or 0.8%, reaching $84.50 a barrel following a decline 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 significant increase during Asian trading hours on Wednesday, driven by reports indicating escalating tensions between the U.S. and Iran, which heightened concerns regarding possible supply disruptions in the Middle East. Oil experienced a boost due to industry data indicating that U.S. oil inventories unexpectedly decreased significantly in the previous week, attributed Read More
