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 slight increase in early trading on Wednesday following Iran’s announcement that it would refrain from engaging in direct discussions with U.S. representatives. This development introduces additional uncertainty to the interim ceasefire between the two parties amid the ongoing four-month conflict. Brent crude futures increased by 50 cents, representing a 0.69% rise, Read More
Oil prices experienced a modest increase on Monday following reciprocal strikes between the US and Iran over the weekend, which raised concerns among investors regarding the stability of their interim peace agreement and hampered shipping activities in the Strait of Hormuz. Brent crude futures increased by more than 0.8% to $72.58 a barrel, while US 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 continued to decrease on Wednesday, remaining close to the four-month lows reached in the prior session, as indications surfaced that additional oil tankers, which have been stranded in the Gulf since the onset of the Iran conflict, are getting ready to transit through the Strait of Hormuz. Brent crude futures declined by 37 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
Oil prices experienced a decline in early trading on Thursday following the signing of an interim agreement between the U.S. and Iran. This agreement is set to conclude the Iran war, facilitate the reopening of the Strait of Hormuz, and lift U.S. sanctions on Tehran’s oil, thereby addressing the most significant energy supply disruption in Read More
Oil prices experienced a rebound on Tuesday, driven by concerns regarding the insufficient details in a preliminary agreement aimed at concluding the conflict between the U.S. and Iran. Additionally, there is a growing awareness that the resumption of supply through the crucial Strait of Hormuz may require more time than previously anticipated. Brent crude futures 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 surged over $2 a barrel on Thursday after Iran declared the closure of the Strait of Hormuz, the critical shipping route, in response to further U.S. strikes on Iranian targets. Iran’s leading joint military command announced on Thursday that the Strait of Hormuz is closed to oil tankers and commercial vessels, cautioning that Read More
