Topic
oil futures
Commodities Crude Oil Futures Jump Over 4% as US-Iran Strikes Threaten Strait of Hormuz
Crude oil futures jumped more than 4% on Monday after the US and Iran launched attacks against each other and Iran announced closure of the Strait of Hormuz. September Brent reached $79.13, up 4.1%, while WTI rose 4.12% to $74.35. Escalation has slowed vessel transits, raising fears of oil supply tightness through Q3.
Commodities Crude Oil Futures Rise as Iran Declines Direct Talks with US in Doha
Crude oil futures rose on Wednesday after reports that Iran declined direct talks with US representatives in Doha. Brent crude climbed to $73.22 per barrel and WTI to $69.74. The move comes amid limited tanker traffic in the Strait of Hormuz, while US crude production hit a record 13.93 million bpd in April, according to EIA data.
Commodities Crude Oil Futures Rise After US-Iran Attacks, Ceasefire Agreed Ahead of Qatar Talks
Crude oil futures climbed on Monday following US-Iran attacks in West Asia, with September Brent at $73.27 (up 0.92%) and August WTI at $70.05 (up 1.18%). A reported ceasefire and upcoming talks in Qatar eased immediate fears, but the Joint Maritime Information Centre raised the Strait of Hormuz threat assessment to 'substantial', keeping supply risks alive. ING Think analysts noted complacency in the market and highlighted significant upside risk if supply recovery is slow or re-escalation occurs.
Commodities Crude oil futures fall as US, Iran continue peace talks
Crude oil futures fell on Tuesday as the US and Iran continued peace talks in Switzerland. September Brent crude slipped to $77.21 per barrel, while WTI crude traded at $73.63. The US issued a 60-day licence allowing Iran to export oil, increasing supply expectations.
Commodities Crude Oil Futures Decline on Expectations of Higher Global Supplies Following US-Iran Peace Deal
Crude oil futures fell on Wednesday morning on expectations of increased global supplies after a proposed US-Iran peace deal. The interim agreement, expected to be signed Friday, would allow Iran to sell oil and reopen the Strait of Hormuz. According to a Reuters report cited by The Hindu BusinessLine, the deal includes the US ending its blockade of Iran's ports.