The sharp hit to global oil production from the Iran war is poised to flip the oil market into a supply deficit this year, analysts say, a huge swing in forecasts that erases previous expectations of comfortable oversupply....
The US Department of Energy said it had loaned 8.48 million barrels of crude oil from the Strategic Petroleum Reserve to four oil companies, the second allotment under the Trump administration's effort to curb fuel prices that have surged during the US-Israeli war on Iran....
Oman’s Ministry of Energy and Minerals announced the offering of five concession areas in the oil and gas sector for competition among local and international petroleum companies....
Iran continued its near-total blockade of the Strait of Hormuz despite US President Donald trump saying Tehran must allow oil to go through the waterway....
Attacks on Saudi energy facilities have cut the kingdom's oil production capacity by around 600,000 barrels per day and throughput on its East-West Pipeline by about 700,000 bpd, Saudi Press Agency reported, citing an official source at the Ministry of Energy....
Oil prices rose on Thursday after Iran’s Islamic Revolutionary Guard Corps claimed that shipping through the Strait of Hormuz was stopped following what it said was an Israeli ceasefire violation in Lebanon. ...
Oil prices have dropped sharply and stock markets have jumped after the US and Iran agreed a two-week ceasefire deal that includes the reopening of the Strait of Hormuz waterway....
Oil prices rose on April 7 as a US deadline pressured Iran to reopen the Strait of Hormuz, with President Trump threatening attacks. Brent hit $111.21, WTI reached $114.73, reflecting heightened Middle East tensions....
Oil prices climbed on Monday as markets reacted to US President Donald Trump's threat of further action against Iran and set a Tuesday evening deadline linked to the reopening of the Strait of Hormuz....
The eight OPEC+ countries, namely the UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have announced an adjustment to oil production levels, reaffirming their joint commitment to supporting stability in global oil markets, said a report. ...
An oil tanker loaded with Iraqi crude was seen passing through the Strait of Hormuz close to the Iranian coast a day after Iran said Iraq was exempt from any restrictions to transit the vital sea route, data from LSEG and Kpler showed....
Oil prices could rise to $120–$130 a barrel in the near term, with a risk of climbing above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, according to a JP Morgan note cited by Reuters....
Opec oil output plunged in March to its lowest level since the height of the Covid-19 pandemic in June 2020, a Reuters survey found, as the US-Israeli war against Iran effectively closed the Strait of Hormuz and forced export cuts....
Oil prices turned lower in Asian trading on Tuesday as markets reacted to reports that Donald Trump had indicated to aides he was prepared to bring the conflict with Iran to an end without insisting on the immediate reopening of the Strait of Hormuz....
US President Donald Trump has said in an interview with Financial Times that he wanted to "take the oil in Iran" and could seize the export hub of Kharg Island. ...
Qatar National Bank (QNB) said China's economic growth outlook remains broadly resilient despite mounting geopolitical tensions and volatility in global energy markets, citing structural factors that mitigate the impact of rising energy prices....
Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at its full capacity of 7 million barrels a day, Bloomberg News reported, citing a person familiar with the matter....
The Japanese government started releasing state-held oil to stabilise supplies amid the ongoing US-Israeli war with Iran, as part of the largest-ever drawdown of reserves stockpiled in the country....
Global oil prices rose on Thursday, recovering part of the previous session’s losses, as market participants reassessed the outlook for a potential de-escalation in tensions involving Iran and the United States. The conflict has continued to disrupt energy flows across a critical oil-producing region....
The International Energy Agency (IEA) urged demand-side measures to ease consumer impacts from Middle East war disruptions. Reduced Strait of Hormuz flows tightened markets, cutting supply, pushing oil above $100 per barrel and raising refined product prices sharply. ...
