Oil prices extended their rally on Friday as geopolitical tensions around Strait of Hormuz remained unresolved, with both Iran and the United States showing no signs of de-escalation....
Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place....
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....
US President Donald Trump has lashed out at allies for not getting further involved in the Iran war, telling them to go to the Strait of Hormuz to take their own fuel and securing the strait is "not for us." ...
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....
The finance and energy ministers of the G7 group affirmed their readiness to take "all necessary measures" to ensure the stability of the energy market, as part of their efforts to address the economic repercussions of the war in the Middle East....
Japan's industry ministry has asked domestic wholesalers to switch to Brent crude oil pricing from the Dubai benchmark when setting gasoline prices, in an attempt to contain price increases, according to a document seen by Reuters....
Oil prices extended gains on March 30, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East....
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....
Oil prices edged lower on Wednesday after surging in the previous session, as traders weighed fresh US inventory data and signs of possible export relief from northern Iraq against continuing concerns over Middle East supply disruptions....
Global oil prices fell sharply on Tuesday after surging to their highest levels in more than three years in the previous session, as signals of possible diplomatic progress in the Middle East eased fears of prolonged supply disruptions....
Oil prices surged nearly 30% to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran....
