(Oil Price) – Oil prices dropped by around 4% early on Wednesday as hopes of a U.S.-Iran deal outweighed concerns about rapidly drawing inventories as the Strait of Hormuz remained closed on the back of fresh U.S.-Iran hostilities. As of early Wednesday trade in Europe, WTI Crude, the U.S. benchmark, is down by 4.32% at $89.83 per barrel. The international benchmark, Brent
(Investing) – Oil prices climbed on Tuesday, extending gains of nearly 3% in the previous session, after U.S. President Donald Trump said a fragile ceasefire with Iran was on “life support,” denting hopes for an imminent peace agreement. As of 09:46 ET (13:46 GMT), Brent crude futures, the global oil benchmark, rose 3.6% to $107.96 a barrel, while U.S. West Texas Intermediate
(Investing) – The U.S. extension of the ceasefire with Iran has done little to restore oil and gas flows through the Strait of Hormuz, with Barclays warning that the scale of disruption remains significantly underpriced in both oil futures and energy equities. Analyst Lydia Rainforth stated in a note to clients that the Strait has now been closed to oil and
(Investing) – Wall Street pushed higher on Wednesday, as sentiment was helped by an extension to a ceasefire between the U.S. and Iran. President Donald Trump also hinted at more peace talks. Market participants were also looking past the Middle East conflict and focusing on the first quarter earnings season, which continues to gather momentum. Results from the Magnificent 7
(Investing) – Oil prices were poised for their biggest weekly declines since last June but remain elevated near $100 a barrel on concerns over supplies from Saudi Arabia and limited flows through the Strait of Hormuz. Brent crude futures were down 36 cents, or 0.4%, at $95.56 a barrel by 1317 GMT. West Texas Intermediate futures rose 15 cents, or around 0.2%,
(By Oil & Gas 360) – A fragile ceasefire is holding just enough to steady markets, but not enough to restore confidence. Diplomatic momentum is building around a broader pause in hostilities. Lebanon has pushed for a temporary ceasefire with Israel to open the door to wider negotiations, a move seen by regional players as a necessary step to prevent further
