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Brent oil traded at the highest level since May on Friday. Iran-backed Houthi militants claimed recent attacks on the Saudi Red Sea port of Yanbu, as well as deadly strikes on an oil field and airport in the kingdom. The flareup threatens to widen hostilities around the Strait of Hormuz, where crude exports have recovered to near prewar levels. Abeer Abu Omar reports on Bloomberg Television. (Source: Bloomberg)
Al Jazeera interviews Fatih Birol in Berlin as the Iran war disrupts global energy supplies.
The US State Department ordered the departure of non-emergency personnel and their families from Saudi Arabia amid escalating Houthi attacks on the kingdom. The latest strikes killed three people in two attacks on an Aramco oil field and an airport in Saudi Arabia's Eastern Province. Hasan Alhasan, Senior Fellow for Middle East Policy at the International Institute for Strategic Studies spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East & Africa. (Source: Bloomberg)
A key benchmark for Middle East crude fell to its lowest in nearly three months, an indication of the resilience of the region’s exports despite intensifying Iranian attacks on shipping.
Reliance is central to Washington’s efforts to punish Russian energy buyers and contain oil prices amid the war on Iran.
Oil wavered as traders weighed the prospect of an escalation in hostilities by Iran in the Strait of Hormuz against robust crude flows from the Persian Gulf.
Australians are pulling back at the pump as fuel prices surge, with sales of diesel dropping in August by the most since 2022 and the decline in petrol sales deepening.
European Union leaders are searching for ways to ease soaring energy prices, but President Donald Trump’s war against Iran has left them with few affordable options.
Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)
Morocco’s phosphate giant OCP SA is looking to attract foreign investors for some of its businesses, as supply disruptions caused by the Iran war hit profits at the state-owned company.
Overnight markets balance easing oil fears against high yields, AI funding risks and a firmer dollar, with Brazil exposed to the Fed-real-Selic chain. The post S&P 500 Gains 0.6% as Iran Fears Ease | Global Economy, Oct 10 appeared first on The Rio Times.
Oil fell after President Donald Trump said the US would not attack Iran ahead of November’s midterm elections.
Oil prices rose on fresh concerns about Middle East supplies, before falling on the possible release of more reserves.
Iran's oil exports have struggled amid a US blockade. A Russian energy crisis because of Ukrainian attacks could help.
State-owned QatarEnergy has secured a $3 billion loan from Chinese banks, according to people familiar with the matter, another sign that financial firms are still willing to lend to certain Gulf borrowers, despite the protracted US war with Iran.
El petróleo de Medio Oriente vuelve a fluir casi como antes de la guerra en Irán. Entonces, ¿por qué el crudo sigue sobre los US$100 por barril y un 40% por encima de los niveles previos al conflicto? Te explicamos cinco razones. (Source: Bloomberg)
Iran adopts a new arrangement to tackle economic challenges amid the US-imposed economic war and naval blockades.