(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
(Oil & Gas 360) By Greg Barnett, MBA – The first story was straightforward. The United States has largely solved its energy supply problem but remains exposed to global energy pricing. The second story followed naturally. In a world increasingly concerned with energy security, artificial intelligence, grid reliability, and geopolitical uncertainty, every barrel, molecule, and electron matters. The conclusion was simple:
(Investing) – Oil prices were little changed on Tuesday but were headed for their biggest monthly and quarterly losses since the COVID-19 pandemic in early 2020, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-long war. Brent futures fell 13 cents, or 0.2%, to $73.02 a barrel at 12:34 p.m. EDT (1634 GMT), while U.S.
(Oil Price) – Saudi Arabia is expected to slash the official selling prices of its crude loading for Asia in August, as Middle East’s crude benchmarks crashed amid the tentative reopening of the Strait of Hormuz and the oil supply increase from the region. Saudi oil giant Aramco, the world’s single-biggest crude oil exporter, is expected to slash the OSP of
(Oil Price) – Oil prices have continued to whipsaw since the U.S. and Iran announced last week signed a deal to make a deal as traffic through the Strait of Hormuz is anything but straight and not expected to normalize within days. Contradictory messaging from Iran and the United States on the navigability of the chokepoint have intensified during the weekend
(BOE Report) – Citi said on Thursday it expects oil prices to trend lower over the next six to 12 months, to $60 to $65 per barrel by the first quarter of 2027 as flows through the Strait of Hormuz normalize following the signing of a U.S.-Iran MoU to end their conflict. Oil tankers sailed through the strait and the
(By Oil & Gas 360) – The proposed sixty-day ceasefire between the United States and Iran with Pakistan as mediator has been greeted by energy markets with a sense of relief. Oil prices retreated from crisis levels, shipping companies began preparing for a gradual return to normal operations, and insurers started reassessing the elevated war-risk premiums that had accompanied weeks
(Oil & Gas 360) By Greg Barnett, MBA – For most of the modern petroleum era, the global oil market operated around a relatively straightforward belief system. If prices rose high enough, new supply would arrive. If prices collapsed low enough, drilling activity would slow, demand would recover, and the market would rebalance. Generations of executives, investors, traders, and researchers
