(Investing) – Oil prices climbed on Tuesday, with both crude benchmarks topping $100 a barrel. The advance came amid an impasse between the U.S. and Iran, denting hopes for a swift end to the war. A key U.S. inflation report also showed an outsized impact of surging oil prices due to the Middle East conflict. At 15:50 ET (19:50 GMT), Brent crude
(Oil Price) – Summer travel could be disrupted for millions of airline passengers as airlines pass on higher jet fuel prices onto air fares and cancel unprofitable routes, according to the global association Airports Council International. The surge in jet fuel prices as a result of the Middle East crisis leads to higher air fares. Passengers should be prepared
(Oil & Gas 360) By Greg Barnett, MBA – (Part 4 of 6) – One of the persistent analytical errors in energy markets is treating oil and natural gas as variations of the same problem. They are not. They behave differently, clear differently, and respond to pressure in fundamentally different ways. Understanding that distinction matters more now than at any point
(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
(World Oil) – Oil prices will continue to fluctuate wildly until it’s clear whether Iran and President Donald Trump will strike an agreement to end the war, according to Citigroup Inc.’s global head of commodities research. “It’s very difficult to predict” if Iran is going to do a deal, Citigroup’s Max Layton said Thursday. “In that environment where you basically don’t
(Investing) – Oil prices pared losses on Thursday, as traders awaited Iran’s response to a new peace proposal that would end its war with the U.S. Mixed messaging from Tehran, along with a new push to control the Strait of Hormuz, also kept investors on edge. At 12:52 ET (16:52 GMT), Brent crude futures expiring in July, the global oil benchmark, fell 0.4%
(Oil Price) – Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of Hormuz just a couple of days after it was announced. The news prompted expectations that a peace deal may be in the making, pressuring Brent crude below $107 and West Texas
(Oil Price) – Elevated oil prices for a sustained period of time would tip the global economy into a recession, Moody’s Analytics’ head of international economics, Gaurav Ganguly, told CNBC, pegging the game-changing price at $125 per barrel of Brent crude. If prices go that high and stay that high long enough, the world will enter a recession, but it will
(World Oil) – The United Arab Emirates will leave OPEC and its wider alliance, OPEC+, dealing a blow to the group and its leader Saudi Arabia as the global oil industry grapples with the massive supply disruption caused by the Iran war. The UAE’s exit May 1 after six decades of membership is a significant loss for the group, which
(Oil & Gas 360) By Greg Barnett, MBA – The United States is producing more crude oil than any country ever has, rebuilding its emergency petroleum buffer, exporting record volumes of crude and fuels to allies, and still confronting stubbornly high gasoline prices at home. At the same time, it is asking producers to drill even more into a market where
(Investing) – Oil prices fell on Tuesday as markets parsed mixed signals on fresh U.S.-Iran talks before the expiry of a temproary ceasefire later this week. Brent oil futures, the global benchmark, were last lower by 0.5% at $94.95 a barrel, while U.S. West Texas Intermediate crude futures for May had dropped 1.8% to $88.04 a barrel. Crude prices had risen
(Investing) – Oil prices tumbled below $90 a barrel on Friday after Iran and the U.S. declared the Strait of Hormuz temporarily open, removing constraints on a critical shipping bottleneck that have sparked worries over a widespread inflation spike. Investors were also assessing a media report which said the U.S. was considering a $20 billion cash-for-uranium deal to end the war
