Latest Oil Market News and Analysis for Sept. 11
Oil extended its powerful rally above $100 a barrel following an escalation of hostilities in the Middle East that has stoked fears of deeper supply disruptions.
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Oil extended its powerful rally above $100 a barrel following an escalation of hostilities in the Middle East that has stoked fears of deeper supply disruptions.
Prices spiked as attacks on oil tankers escalated in the Middle East.
Brent crude oil prices top $105 a barrel as rising tensions in the Middle East heighten concerns about global supplies. US gasoline prices hit a record over the Labor Day weekend. Bloomberg's Michael McKee has the data. Mike Reid of RBC says this all puts the Fed in a tough spot. (Source: Bloomberg)
European natural gas prices rose to the highest since late 2022 as heightening tensions in the Middle East boosted concerns about prolonged supply disruptions and winter fuel inventory levels.
Brent held around $101 per barrel as Iran vowed it was prepared for a more intense war after hostilities flared across the Middle East. But Carole Nakhle, CEO of Crystol Energy told Bloombergโs Jennifer Zabasajja on Horizons Middle East & Africa $101/b is not as high a threshold as it could have been. (Source: Bloomberg)
Oil extended gains as Iran vowed it was prepared for a more intense war after hostilities flared across the Middle East, heightening concerns about deeper disruptions to energy flows through the Strait of Hormuz.
Get a jump start on the US trading day with Vonnie Quinn and Bailey Lipschultz on "Bloomberg Open Interest." Scott Bessent turns up the heat on global markets, from the yen to Treasuries. Brent crude breaks above $100 as fresh Middle East attacks stoke supply fears. Apple faces sky-high expectations ahead of its biggest event in years. Plus, Vale CFO Marcelo Bacci on resilient iron ore demand, and Anthropic researcher Jacob Coxon exits with a stark warning over AI risk. (Source: Bloomberg)
Asian chip stocks were set for a higher open on sustained investor interest in the artificial intelligence theme, while the broader market was expected to come under pressure from escalating Middle East hostilities that sent Brent crude close to $100 a barrel.
Global financial markets already under strain from a bond selloff and sharp currency swings face the risk of more volatility in the months ahead with the prospect of interest-rate hikes, mounting concerns over fiscal deficits and the ongoing war in the Middle East.
Major OPEC+ nations stuck with their plan to keep oil production quotas unchanged, while the Iran war continues to shutter vast swathes of output in the Middle East.
Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
Hong Kong flag carrier Cathay Pacific Airways has delayed the resumption of passenger flights to Dubai and Riyadh until December at the earliest, extending the suspension of its Middle East services to nine months. The airline attributed the extended postponement to โthe latest developments in the Middle Eastโ, with services to both cities now cancelled through November 30. โAffected travellers will be offered the flexibility to rebook, reroute or refund their tickets,โ it said. Cathay said it...
Gold held a gain as US President Donald Trump appeared to rule out prolonged military action in the Middle East, easing inflationary concerns driven by a renewed spike in energy prices.