(World Oil) – Oil headed for a weekly gain as traders awaited details on a U.S. campaign to isolate Iran’s economy, with no apparent end in sight to a conflict that has slashed Middle East exports. Treasury Secretary Scott Bessent said Thursday the administration would provide details of the initiative Monday after President Donald Trump described the push as an “economic
(Investing) – Oil prices edged up to a one-week high on Tuesday as doubts about a potential U.S.-Iran peace deal fueled concerns that Middle East supply disruptions would persist. Brent futures rose $1.19, or 1.4%, to settle at $88.91 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.07, or 1.3%, to settle at $83.20. Those were the highest closes for
(Oil Price) – Bank of America (BoFA) is warning that oil prices could continue climbing into the winter if the U.S. and Iran fail to reach an agreement reopening the Strait of Hormuz, with severe shortages already emerging in diesel, gasoline and global natural gas markets. “We’ve been expecting oil to be in the $70 to $80 a barrel range for
(Investing) – Physical crude oil prices in the Middle East, Europe and Africa rose this week to two-month highs, with some approaching $110 per barrel. Supply disruptions linked to conflicts in Iran and Ukraine left buyers searching for alternative sources. Dated Brent, the global oil price benchmark used to price over 60% of the world’s physical crude cargoes, reached $105.70 per
(Investing) – Oil prices surged on Thursday, with the global benchmark topping $100 a barrel, as Iran-aligned Houthi militants in Yemen said they had struck two Saudi oil tankers in the Red Sea. At 09:16 ET (13:16 GMT), Brent crude futures expiring in September jumped 6.3% to $100.06 a barrel, surpassing that level for the first time since May 26. U.S. West Texas
(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) – Oil prices rose nearly 3% on Tuesday to their highest in four weeks, as the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows. Brent crude futures were last up $1.50, or 1.8%, to $84.80 per barrel at 0330 GMT, while U.S.
(Investing) – Oil prices gained on Tuesday, after a tanker transiting the Strait of Hormuz was struck by an unidentified projectile, the United Kingdom Maritime Trade Operations agency said. The vessel is believed to have structural damage, the UKMTO said, adding that there have been no casualties or environmental impact reported. Ships sailing through the strait were advised to “transit
(Oil Price) – Up to 75% of the previous oil flows through the Strait of Hormuz are expected to return to the market by the end of the year, but significantly lower oil prices aren’t guaranteed for 2027 as the ongoing U.S.-Iran tensions are unlikely to be resolved for good soon, Fereidun Fesharaki, chairman emeritus of FGE NexantECA, told CNBC on Monday. Before
(Investing) – Oil prices were stable around pre-Iran war levels on Monday as Saudi Arabia slashed its official selling prices and after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering. Brent crude futures fell 4 cents, or 0.06%, to $72.08 a barrel at 1322 GMT after settling 0.45%
(Investing) – Oil prices fell on Thursday as traders continued to assess mediated U.S.-Iran negotiations, with hopes for improving supply expectations keeping pressure on the market despite lingering geopolitical uncertainty. At 08:01 ET (12:01 GMT), Brent crude futures, the global oil benchmark, declined 1.7% to $70.38 a barrel and U.S. West Texas Intermediate crude futures dipped 1.9% to $67.25 a barrel. Markets were
(Investing) – NEW YORK – Oil prices fell more than 1% on Wednesday to their lowest levels since March as optimism over U.S.-Iran talks allayed supply concerns after U.S. President Donald Trump said talks in Qatar had gone well. Brent futures settled down $1.38, or 1.89%, to $71.57 a barrel, while U.S. West Texas Intermediate crude lost 92 cents, or 1.32%, at $68.58 a
