(Investing) – DUBAI – Daily tanker traffic in the Strait of Hormuz appeared to have slowed on Friday, after the U.S. and Iran exchanged hostilities this week and renewed their arguments over who was in control of passage through the critical waterway. The attacks renewed concerns about the recovery of global oil supplies and shipping, and highlighted the fragility of an
(World Oil) – The United States and Iran exchanged a second round of military strikes Thursday, escalating tensions in the Persian Gulf and further disrupting commercial shipping through the Strait of Hormuz. U.S. Central Command (CENTCOM) said it struck about 90 Iranian targets overnight—following roughly 80 targets hit the previous day—to further degrade Tehran’s ability to threaten commercial vessels transiting
(Investing) – Oil prices eased on Thursday after earlier gains as markets assessed the escalating conflict between the U.S. and Iran and its implications for efforts to end the war and fully reopen the Strait of Hormuz. Brent crude futures were down 11 cents, or 0.1%, to $77.91 a barrel at 1322 GMT. U.S. West Texas Intermediate crude futures dropped 38 cents, or 0.5%,
(By Oil & Gas 360) – Markets have become remarkably efficient at pricing today’s headlines, but what they struggle to price is tomorrow’s uncertainty. Following months of conflict, supply disruptions, and volatile oil prices, the prospect of an uneasy ceasefire between the United States and Iran has offered financial markets a measure of relief. Crude prices have eased from wartime highs,
(BOA Report) – At least four oil and gas tankers have turned back from attempting to transit the Strait of Hormuz, ship-tracking data showed, as renewed attacks on vessels in the critical waterway heightened safety and security concerns. The diversions come after a Qatari liquefied natural gas tanker and a Saudi-flagged crude oil tanker were damaged near the strait on
(Oil Price) – The oil majors are set for windfall earnings for the second quarter, which saw crude oil prices jump to a four-year high due to the closure of the Strait of Hormuz. The earnings at both ExxonMobil and Chevron are expected to have tripled in the April to June quarter compared to the first quarter, as the worst supply disruption in
(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%
(By Oil & Gas 360) – Oil fields can be bombed. Refineries can be repaired. Pipelines can be rerouted. The Strait of Hormuz is different. For decades, analysts have viewed Hormuz primarily as the world’s most important oil chokepoint, carrying roughly one-fifth of global oil trade and a significant share of liquefied natural gas exports. But recent events suggest Tehran
(Investing) – OPEC+ oil-producing countries are reportedly likely agree to increase their output targets from August when they meet on Sunday. The move would add supply at a time when prices are falling as the Strait of Hormuz gradually reopens. The target will increase by about 188,000 barrels per day for August, matching the increases for June and July, a Reuters
(Oil Price) – Morgan Stanley has slashed its oil price forecasts for the next 18 month as it expects the reopening of the Strait of Hormuz to accelerate a new supply glut. The return of oil supply from the Middle East, combined with high U.S. oil exports and still weak Chinese crude purchases, will bring the market full-circle to a new
