(BOE Report) – Canadian oil and gas producers are benefiting from the surge in commodity prices driven by the Middle East war, but they say it’s not changing their investment plans in the near-term. The chief executive at oilsands giant Cenovus Energy says it’s too early on in the crisis to know what the enduring changes to the market are
(Oil Price) – Oil prices could spike and hit again their peak Iran-war levels at nearly $120 per barrel if a full recovery of vessel traffic through the Strait of Hormuz takes until July, according to JP Morgan. Despite the ceasefire announced earlier this week, traffic through the critical oil chokepoint remains severely restricted and under supervision and approval by Iran’s Islamic
(Investing) – Oil prices were poised for their biggest weekly declines since last June but remain elevated near $100 a barrel on concerns over supplies from Saudi Arabia and limited flows through the Strait of Hormuz. Brent crude futures were down 36 cents, or 0.4%, at $95.56 a barrel by 1317 GMT. West Texas Intermediate futures rose 15 cents, or around 0.2%,
(BOE Report) – European and African crude oil prices climbed to fresh records on Wednesday, defying a sharp selloff in oil futures after a U.S.-Iran ceasefire was reached on Tuesday, as traders priced in a prolonged disruption to physical oil supplies. The ceasefire announcement sent major benchmark Brent and WTI contracts tumbling 13% and 16% respectively on Wednesday to below
(Investing) – LONDON – Investors placed an approximately $950 million bet on oil prices falling just hours before the U.S. and Iran announced a ceasefire, the latest large wager on the direction of the world’s most traded commodity ahead of a major policy announcement by President Donald Trump. On Tuesday, investors sold a combined 8,600 lots of Brent and U.S. crude
(Investing) – Oil prices will continue to remain volatile despite falling 10-15% after the much-awaited ceasefire deal between the U.S. and Iran on Tuesday, according to Barclays. “Oil prices are down 10-15% this morning following the two-week ceasefire in the Middle East, and we expect the oil equities to be under pressure in the short term,” analysts at Barclays said in
(World Oil) – The U.S. carried out strikes near Iran’s Kharg Island early Tuesday, targeting military sites while avoiding key oil export infrastructure, as tensions in the region continue to inject volatility into global energy markets. U.S. forces hit bunkers, radar systems and ammunition storage facilities on the island, according to reports, in a renewed round of attacks similar to
(Investing) – LONDON – European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel war with Iran. The Iran war has forced the shutdown of at least 12 million barrels per day – about 12% of world supply
(By Oil & Gas 360) – The global energy system is being tested in real time, and the response is starting to shift from reaction to coordination. More than 40 countries have begun discussions on how to reopen the Strait of Hormuz following Iran’s blockade, a move that has effectively choked off one of the world’s most critical energy corridors.
(By Oil & Gas 360) – The first phase of the energy shock moved prices. The second reshaped flows. The third is now redirecting capital. As volatility moves from crude into refined products and logistics, investors are beginning to reposition, not around headline oil prices, but around where the system is tightening most. That shift is already visible. Refiners are
(Investing) – LONDON – Oil prices climbed to around $110 a barrel on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply. Brent crude futures were up $7.96, or 7.9%, to $109.12 per barrel at 1302 GMT. U.S. West Texas Intermediate crude futures were up $12.48, or 12.5%, at $112.60
(Investing) – LONDON – Battered financial markets enter the second quarter significantly exposed to war headlines, a backdrop that could prompt a bigger retreat for equity markets while a hefty selloff in bonds could tempt buyers back. Even if a resolution to the conflict boosts near-term sentiment, damage inflicted on Middle East energy infrastructure and higher for longer oil prices
