Iran Archives - Page 13 of 27

Biggest ‘black swan’ event for oil markets is disruption in the Strait of Hormuz, expert says

January 9, 2020

CNBC The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts. “The market is extremely exposed to any disruption to vessel traffic in the Strait of Hormuz,” Dave Ernsberger, the firm’s global head of commodities pricing, told CNBC’s “Capital Connection” Thursday. The Strait of Hormuz is a

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

January 8, 2020

CNBC Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday. Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly concerned that the fallout could soon disrupt regional crude supplies. It has thrust the world’s most important oil chokepoint back

Oil prices fall as alarm over Iran rocket strike fades

January 8, 2020

Reuters LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows. Tweets by U.S. President Donald Trump and Iran’s foreign minister also seemed to signal a period of calm – for

Oil tops $70 as Iran, Trump trade threats

January 6, 2020

Reuters LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike Brent crude futures LCOc1 soared to a high of $70.74 a barrel and was at $69.38 at 1150 GMT, up 78 cents, or more

Oil soars as U.S. killing of Iran general stirs fear of conflict

January 3, 2020

Houston Chronicle Oil jumped toward $70 a barrel in London after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region. Brent futures surged by more than 4% in busy trading on Friday to levels not seen since the attacks on Saudi Arabia’s

Exclusive: U.S. probe of Saudi oil attack shows it came from north – report

December 19, 2019

Reuters WASHINGTON – The United States said new evidence and analysis of weapons debris recovered from an attack on Saudi oil facilities on Sept. 14 indicates the strike likely came from the north, reinforcing its earlier assessment that Iran was behind the offensive. In an interim report of its investigation – seen by Reuters ahead of a presentation on Thursday

Syria hands oil exploration contracts to two Russian firms

December 17, 2019

Reuters BEIRUT – Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions. State news agency SANA said the deals cover exploration and production in three blocs, including an oilfield in northeast Syria and a gas field north of the capital

Crude Exporters Brace for Sustained High Shipping Costs

November 4, 2019

Wall Street Journal The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high Crude oil exporters and users probably should get used to high shipping costs. The freight-rate roller coaster that was triggered by geopolitical events in September may have leveled off, but fundamentals in the shipping industry are only

Exclusive: U.S. carried out secret cyber strike on Iran in wake of Saudi oil attack: officials

October 16, 2019

Source: Reuters The United States carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities, which Washington and Riyadh blame on Tehran, two U.S. officials have told Reuters. The officials, who spoke on condition of anonymity, said the operation took place in late September and took aim at Tehran’s

Iran claims $40B natural gas discovery

October 14, 2019

Iran says it discovered natural gas deposit worth $40B Iran announced that it has discovered a natural gas field with about $40 billion of condensed gas. The National Iranian Oil Company said Sunday that the newly found deposit holds about 385 million barrels of fuel, the Middle Eastern country’s official news agency IRNA reported. We have the potential to identify

U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

October 11, 2019

Source: Reuters MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said. The move has taken roughly 3% of the global oil tanker fleet out of the market, according to industry sources and data on Refinitiv Eikon,

Iranian oil tanker hit off Saudi coast, may have been missiles: Iran reports

October 11, 2019

Source: Reuters An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers and oil sites since May. The Sabiti was hit in the morning about 60 miles (96 km) from the Saudi

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