Brent crude oil prices rose to their highest level since May on Thursday after Yemen’s Iran-aligned Houthi group carried out more attacks in Saudi Arabia. The attacks raised fears that the conflict in the Middle East could spread further and disrupt oil supplies from one of the world’s most important oil-exporting regions. Brent crude prices … Read more
Oil prices rose by more than $2 a barrel on Wednesday as tensions between Iran and the United States deepened. Prices also received support from a fall in US crude oil and fuel inventories. Oil prices rise as Iran-US tensions deepen and US crude oil inventories fall. (Pexel/Representative image) (Pexel) Brent crude prices moved closer … Read more
Oil prices rose on Wednesday after attacks on Saudi Arabia’s oil industry and ships near the Strait of Hormuz raised concerns about global oil supplies. The increase came after an attack on the headquarters of Saudi state-owned oil company Saudi Aramco and reports of ships being hit in waters near the important shipping route. Oil … Read more
Oil prices rose on Wednesday as markets remained worried about the ongoing US-Iran war. Efforts to end the war have not made much progress, keeping geopolitical risks high. These concerns pushed oil prices higher even as crude exports from the Persian Gulf showed signs of recovery. Brent crude prices rise as Saudi Arabia restores oil … Read more
Middle East oil exports have increased sharply in September, bringing oil flows closer to the levels seen before Iran shut down the Strait of Hormuz in March. The increase could reduce some pressure on global energy prices, according to oil analysts. Oil tankers carry more crude through the Strait of Hormuz as Middle East exports … Read more
Oil prices fell to their lowest level in 11 days on Monday, as investors looked for signs that the US-Iran conflict could move toward diplomacy and watched for a recovery in Saudi Arabia’s oil shipments. Oil prices fall as US-Iran talks and Saudi oil shipments ease supply fears. (Pexel/Representative image) (Pexel) Brent crude futures fell … Read more
Oil prices fell on Monday as investors waited for the US to announce new measures aimed at putting more economic pressure on Iran. Brent crude, the global oil benchmark, fell 1.8% to about $93 a barrel. West Texas Intermediate (WTI), the US oil benchmark, dropped 2.3% to around $85 a barrel. Oil prices fall ahead … Read more
BEIJING – Chinese Foreign Minister Wang Yi held talks with his Iranian counterpart Abbas Araghchi in Beijing on Wednesday, as Iran faces growing pressure to open the Strait of Hormuz to international shipping and reach a deal with the United States to end the war. China and Iran hold talks to discuss opening Strait of … Read more
KARACHI: A Pakistan-flagged ship carrying crude oil will cross the Strait of Hormuz and reach Karachi port on Saturday after the United States began a blockade, the government announced here on Friday. Another Pakistani-flagged ship arrives in Karachi after crossing Strait of Hormuz A senior official of Pakistan’s national shipping line said it was the … Read more
President Trump is promoting the U.S. Navy Blockade of the Strait of Hormuz An opportunity for U.S. oil and gas exporters. Tight supply is a bad sign for oil prices. The Strait of Hormuz is an important channel for global oil supply and has become the target of a US blockade. U.S. plans to seize … Read more