(Investing) – Oil prices advanced on Friday and were on track for sharp weekly gains, as escalating fighting between the United States and Iran kept traders focused on the risk of supply disruptions from the Middle East. As of 09:47 ET (13:47 GMT), Brent crude futures, the global oil benchmark, had risen 3.0% to $86.79 per barrel, while U.S. West Texas Intermediate (WTI)
(BOE Report) – Iran has warned that its campaign to throttle global energy markets could be expanded from the Strait of Hormuz to the vital Red Sea route if U.S. attacks continue, a threat that depends on its Houthi allies in Yemen. This is why it matters and what it means for the Iran war and the global energy crisis:
(By Oil & Gas 360) – Markets have become remarkably efficient at pricing today’s headlines, but what they struggle to price is tomorrow’s uncertainty. Following months of conflict, supply disruptions, and volatile oil prices, the prospect of an uneasy ceasefire between the United States and Iran has offered financial markets a measure of relief. Crude prices have eased from wartime highs,
(By Oil & Gas 360) – Oil fields can be bombed. Refineries can be repaired. Pipelines can be rerouted. The Strait of Hormuz is different. For decades, analysts have viewed Hormuz primarily as the world’s most important oil chokepoint, carrying roughly one-fifth of global oil trade and a significant share of liquefied natural gas exports. But recent events suggest Tehran
(Investing) – SINGAPORE – Oil and liquefied natural gas tankers sailed through the Strait of Hormuz on Monday, in a sign of traffic slowly picking up after Iran said it had again closed the waterway over the weekend, shipping data showed. Iran lifted its effective blockade of Hormuz last week after agreeing to a 60-day ceasefire with the United States while talks
(World Oil) – Iran is shipping large amounts of oil that had previously been held back by a US blockade, a potential boost for Tehran after it signed an interim peace deal with Washington on Wednesday. A total of 11 tankers hauling a combined 20 MMbbl were detected leaving the Iranian port of Chabahar on the Gulf of Oman this
(BOE Report) – Oil prices slipped to their lowest since March on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. Brent crude futures fell $3.58, or 4.10%, to $83.75 a barrel by 0004 GMT and U.S. West
(Investing) – LONDON – Oil prices fell nearly 3% on Friday to their lowest in nearly two months after U.S. President Donald Trump cancelled new strikes on Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week. Brent futures were down $2.27, or 2.5%, at $88.11 a barrel by 1322 GMT, while U.S. West Texas Intermediate (WTI)
(Oil Price) – Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing through the waterway. This triggered an oil shock with prices surging to levels not seen since Russia’s invasion of Ukraine. Although this is straining economies worldwide, it
(BOE Report) – The Iran war has become an additional driver of demand for gas turbines, Siemens Energy executives said on Thursday, at a time when manufacturers are already flooded with orders due to the massive data centre expansion in the United States. Along with rivals GE Vernova and Mitsubishi Heavy Industries, Siemens Energy has seen demand for gas turbines
(World Oil) – President Donald Trump threatened additional military action against Iran on Thursday and suggested the U.S. could eventually target key Iranian oil export infrastructure, including Kharg Island, the country’s primary crude export terminal. Trump said the United States would strike Iran again following the collapse of a two-month ceasefire over the weekend. In a post on social media,
(Investing) – LONDON- OPEC oil output in May hit its lowest in more than two decades, a Reuters survey found, as a U.S. naval blockade cut Iran’s exports and Iran’s effective closure of the Strait of Hormuz slashed exports by other Gulf producers. Output by the 11-member Organization of the Petroleum Exporting Countries fell by 1.06 million barrels per day month-on-month
