This website’s original language is English. For translation, click the globe icon or choose Translate in the menu.
9 matching records found
Stephen Schork, principal and editor at The Schork Group, explains Iran’s expanded control of Middle East oil flows and says the US strategic petroleum reserve “will be drawn down, by November, to its operational limits.” (Source: Bloomberg)
Oil rose after Saudi Arabia shut a major crude pipeline following attacks, disrupting a route that’s been used to bypass the Strait of Hormuz during the US-Iran war and deepening a global energy crunch.
Venezuela has some of the world’s largest oil reserves and could eventually produce far more than it does today. But Columbia University’s Luisa Palacios says reviving the industry would take years, up to $150 billion in investment and a major rebuilding of trust after decades of contract changes, expropriations and infrastructure decline. (Source: Bloomberg)
Brent oil topped $100 a barrel for the first time since July, as attacks between the US and Iran and a recovery in Chinese oil buying propel the global crude benchmark higher. The US military destroyed five Iranian tankers carrying crude in response to attempts to hit a US Navy warship with ballistic missiles overnight, Central Command said. It’s the latest escalation in the conflict, which began in February and has disrupted some flows through the vital Strait of Hormuz. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie. (Source: Bloomberg)
Oil extended gains after Fox News reported the US struck targets near Iran’s key crude export hub of Kharg Island, escalating hostilities and stoking fears of deeper disruptions through the Strait of Hormuz.
Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran’s control over the crucial waterway.
Oil climbed after the US attacked Iranian tankers and Tehran declared a new restricted zone outside of the Strait of Hormuz, raising concerns about prolonged disruptions to energy flows through the waterway.
US retail diesel prices hit a four-year high, topping a peak seen during the early stages of the Iran war to approach a record. The national average pump price climbed to $5.783 a gallon on Wednesday, according to the American Automobile Association. Bloomberg's Anthony di Paola reports. (Source: Bloomberg)
Oil steadied after a three-day rally as President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the US controls the Strait of Hormuz.