Global oil prices plunged nearly six percent on Monday as hopes grew for a possible peace agreement between the United States and Iran. Investors reacted positively to signs that negotiations could reopen the Strait of Hormuz and ease supply disruptions. The sharp decline pushed crude prices to their lowest levels in two weeks. Brent crude […]
global energy markets
Oil prices ease as Iraq-Kurd deal eases Middle East supply concerns
Oil prices softened on Wednesday after Iraq and Kurdish authorities reached an agreement to resume crude exports via Turkey’s Ceyhan port, providing some relief amid persistent Middle East supply disruptions. Brent futures remained above $100 per barrel, reflecting ongoing geopolitical tensions and uncertainty in global energy markets. Brent crude fell 67 cents, or 0.65%, to […]
Oil prices surge to four-year high amid Iran attacks
NEW YORK – Global oil prices surged about nine per cent on Thursday, reaching their highest level in nearly four years, as escalating attacks by Iran on oil and transport infrastructure across the Middle East intensified fears of supply disruptions. Brent crude futures settled at $100.46 per barrel, gaining $8.48 or 9.2 per cent after […]
IEA orders record oil release amid Iran war
The International Energy Agency (IEA) announced a historic 400 million barrel oil release Wednesday. This move aims to curb soaring crude prices caused by the U.S.-Israeli war with Iran. The decision affects global markets, oil-importing nations, and energy consumers worldwide. IEA member countries unanimously agreed to the strategic release, while exact timing will be announced […]
Iran war pushes oil prices to post-COVID highs
Global crude oil prices surged to their highest levels since the COVID-19 pandemic following the Iran conflict. The Strait of Hormuz closure and attacks on oil installations triggered a sharp 30 percent price jump in a single day. The increase affects international energy markets and global trade stability. During trading, Brent crude reached $119.50 per […]
Iran faces crises largely alone as Russia and China stay cautious
TEHRAN: Iran is confronting one of the most severe crises in its recent history largely without direct support from its major partners, as Russia and China limit their response to diplomatic statements despite escalating conflict with the United States and Israel. Read More: US-Israel-Iran & Afghanistan-Pakistan Following the assassination of its supreme leader and sustained military […]
Oil prices jump as Middle East conflict threatens supply
Oil prices surged more than three percent on Thursday, extending a multi-day rally as the escalating conflict involving the United States, Israel and Iran heightened fears of prolonged disruptions to critical Middle East energy supplies. Brent crude rose $2.65, or 3.26 percent, to $83.99 per barrel by 05:20 GMT, marking its fifth consecutive day of […]
Oil drops 1% as US, Iran pledge to continue talks
Oil prices fell 1% on Monday after the US and Iran pledged to continue nuclear talks, easing fears of immediate conflict in the Middle East. Brent crude dropped 67 cents to $67.38 a barrel, while US West Texas Intermediate fell 61 cents to $62.94 a barrel. Investors were reassured as both countries described their discussions […]
Oil prices set for biggest monthly gains in years on Middle East tensions
SINGAPORE: Oil prices were headed for their biggest monthly gains in years on Friday, despite easing slightly, as escalating tensions in the Middle East raised fears of potential supply disruptions involving Iran, one of the world’s major oil producers. Read More: Oil prices surge nearly three percent amid US-Iran tensions Brent crude futures slipped 21 […]
India to cut Russian oil imports
NEW DELHI – Indian refiners are preparing to drastically reduce imports of Russian crude oil following new U.S. sanctions targeting Russia’s two largest oil producers, Lukoil and Rosneft, industry sources confirmed Thursday. The move is expected to ease trade tensions with Washington, which has imposed steep tariffs on Indian exports in part due to its […]