Oil prices increased slightly on Tuesday following reports of a tanker in the Strait of Hormuz being hit by a projectile. However, the gains remained constrained as investors assessed the implications of enhanced Middle East supply in relation to apprehensions regarding increasing production and the global demand forecast. Brent crude futures increased by 28 cents, 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 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 experienced a decline on Tuesday, as investors monitored the developments surrounding potential U.S.-Iran discussions in Doha. This comes in the wake of missile exchanges over the weekend that challenged the interim ceasefire aimed at concluding the four-month-long conflict. Brent August crude futures, set to expire on Tuesday, experienced a decline of 1.03%, equating Read More
Oil prices fell to their lowest point since March on Monday following statements from U.S. President Donald Trump and Iran’s deputy foreign minister, indicating that an initial agreement had been made to conclude the conflict and resume shipping through the Strait of Hormuz. Brent crude futures decreased by $3.58, representing a 4.10% drop, settling at Read More
Oil prices remained relatively stable on Friday, following significant declines in the prior session. This stability comes amid diminishing expectations for a swift resolution to the U.S.-Israeli conflict with Iran, particularly after Hezbollah dismissed a new ceasefire proposal in Lebanon. Brent crude futures declined by 21 cents, representing a decrease of 0.22%, settling at $95.24 Read More
Oil prices declined to their lowest levels in two weeks on Monday amid increasing optimism that the U.S. and Iran were making progress toward a peace agreement, despite ongoing significant disagreements over critical issues, including restrictions on the Strait of Hormuz that continue to affect Middle East oil supplies. On Saturday, U.S. President Donald Trump Read More
Oil prices experienced an increase of over 1% on Friday following the resurgence of hostilities between the U.S. and Iran, which jeopardized a fragile ceasefire and undermined expectations for advancements in the reopening of the Strait of Hormuz, a critical transit route for oil and gas. Brent crude futures increased by $1.41, reflecting a rise Read More
Oil prices increased by approximately $1 in early trading on Thursday, recovering from the significant declines observed the previous day, as investors assessed the potential for a successful peace agreement in the Middle East. Brent crude futures experienced an increase of 88 cents, representing a 0.9% rise, reaching $102.15 per barrel as of 0032. U.S. Read More
Oil prices experienced a decline for the second consecutive day on Wednesday, driven by expectations that constrained supply from the pivotal Middle East production area could begin to flow again following indications from U.S. President Donald Trump of a potential peace agreement aimed at resolving the conflict with Iran. Brent crude futures for July declined Read More
