The price of Brent crude rose more than 5% on Thursday as the war in the Middle East continues to escalate.
Asia’s oil buyers are facing the risk of a second maritime chokepoint being disrupted after Iran-aligned Houthi militants threatened to impose a naval blockade on Saudi Arabia, even as shipments through the Strait of Hormuz remain severely disrupted by the US-Iran conflict. Analysts said any serious disruption in the Bab el-Mandeb Strait could leave Asia with fewer alternatives for Middle Eastern crude, threatening Saudi shipments and increasing the risk of oil prices rising above US$100 per...
Asia’s economies are once again staring down the barrel of the Strait of Hormuz as the latest breakdown of the US-Iran ceasefire and Washington’s decision to impose a blockade-cum-toll threaten to keep energy costs elevated and shipping flows under strain. But economists and shipping analysts say the region is better placed to absorb the blow this time round. Oil prices jumped to a one-month high of US$84.78 a barrel on Tuesday morning as renewed fighting between Iran and the US over control of...
Brent crude nears $85 a barrel amid renewed hostiles between Washington and Tehran.
Brent crude climbs more than 4 percent as Washington and Tehran clash over control of critical waterway.
China called on the United States and Iran to stick with peace plans after a resumption of missile strikes in the Middle East spurred a jump in oil prices. “Reigniting the conflict does not serve any party’s interests,” a spokesman for China’s Ministry of Foreign Affairs said on Wednesday. “We call on the US and Iran to follow through on their memorandum of understanding, resolve disputes through dialogue and negotiation, and avoid resorting to force.” Brent crude, the global oil benchmark, rose...
Travel stocks plunged as fuel costs rise, United Airlines fell 3 percent, while energy stocks saw gains.
Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.
In four trading days, the BSE benchmark has jumped 2.36%, and the Nifty surged 564.6 points, or 2.36%
Brent falls below $71 a barrel amid reports of progress in talks to end the war.
Aviation turbine fuel now costs ₹110 a litre in Delhi, industry sources said
Brent crude edges up as tit-for-tat strikes imperial return to normality in key waterway.