Oil prices surge 3% after reported Israeli strikes on Iran: What's happening?
8 months, 3 weeks ago

Oil prices surge 3% after reported Israeli strikes on Iran: What's happening?

Hindustan Times  

Oil prices rose $3 a barrel following reports that Israeli missiles had struck a site in Iran. Warren Patterson, head of commodities strategy at ING, said in a note, as per news agency Reuters, “If these reports turn out to be true, fears over further escalation will only grow, as well as concerns that we are potentially moving closer towards a situation where oil supply risks lead to actual supply disruptions.” What we know about Israel's strike in Iran so far? Several flights were diverted over Iranian airspace, CNN reported after Israel's possible retaliation to Iran's drone and missile attack of last weekend when Tehran launched hundreds of drones and missiles in a strike after a suspected Israeli strike on its embassy compound in Syria. Israel-Iran's conflict and oil prices Investors have been closely monitoring Israel's reaction to the April 13 Iranian drone attacks while oil prices had been unwinding this week as it was perceived that Israeli retaliation to Iran's attack would be tempered by international pressure.

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History of this topic

week high as Russia, Iran tensions support prices
1 month, 2 weeks ago

week high as Russia, Iran tensions support prices

Live Mint  

* Iran to hold nuclear talks with European powers on Nov 29 * China's crude imports to rebound in Nov * India refining throughput up 3% year-on-year for Oct By Florence Tan SINGORE, - Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and …

Iran oil minister visits key site after Israeli threats
3 months ago

Iran oil minister visits key site after Israeli threats

The Hindu  

Iranian Oil Minister Mohsen Paknejad visited an oil facility on Kharg Island on Sunday amid growing concerns over potential Israeli air strikes targeting such vital sites. Iran's Islamic Revolutionary Guard Corps said the 200 missiles were fired to avenge the death of Hezbollah leader Hassan Nasrallah and Iranian general Abbas Nilforoushan in a September 27 strike on Beirut. Mr. Paknejad …

Israel could bomb Iran’s oil. Energy markets are noting it but not panicking.
3 months, 1 week ago

Israel could bomb Iran’s oil. Energy markets are noting it but not panicking.

Politico  

“For those of us who spend our lives looking at the effects of a crisis on oil prices, obviously the past 10-plus years have been a complete washout,” said Michael Knights, an analyst at the think tank The Washington Institute for Near East Policy. Saudi Arabia, the United Arab Emirates, Libya and other oil producers have spare production capacity, which …

Oil prices jump again on worries about the Middle East as Wall Street fades
3 months, 1 week ago

Oil prices jump again on worries about the Middle East as Wall Street fades

LA Times  

Crude prices jumped Thursday on worries that worsening tensions in the Middle East could disrupt the global flow of oil, while U.S. stocks pulled back further from their records. One showed growth for real estate, healthcare and other U.S. services businesses accelerated to its strongest pace since February 2023 and topped economists’ expectations, though employment trends may be slowing. Outside …

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
3 months, 1 week ago

Saudi minister warns of $50 oil as OPEC+ members flout production curbs

Live Mint  

The Saudi oil minister has said that prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. But geopolitical tensions have persisted for months without meaningful effect on oil prices, and the declines have been frustrating for Saudi officials in part because other …

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets
8 months, 2 weeks ago

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets

Live Mint  

The ongoing conflict between Iran and Israel has intensified in recent days and is threatening to disrupt the crucial oil and liquified natural gas imports to India through the Strait of Hormuz. Iran has threatened to block the vital passage of sea, which can create oil/LNG supply bottlenecks for countries like India which import crude oil from Saudi Arabia, Iraq, …

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz
8 months, 2 weeks ago

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz

Hindustan Times  

Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz The Iran and Israel …

Crude oil prices jump 4% on reports of Israel strikes on Iran; Brent crude above $90 a barrel
8 months, 3 weeks ago

Crude oil prices jump 4% on reports of Israel strikes on Iran; Brent crude above $90 a barrel

Live Mint  

Crude oil prices jumped over 4% on Friday as conflict in the Middle East intensified, with Brent rallying above $90 a barrel in a sudden move higher. Brent oil, the global benchmark, surged 3.94% to $90.54 a barrel, while the US West Texas Intermediate crude futures spiked 4.06% to $86.09. Crude oil prices have rallied this year led by the …

Oil prices briefly surge, stocks slide on Iran blasts
8 months, 3 weeks ago

Oil prices briefly surge, stocks slide on Iran blasts

New Indian Express  

LONDON: Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold. Iran's state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its arch-rival. "Asian markets bore the brunt …

Oil prices decline as risk premium eases following Iran attack; brent crude at $89.64/bbl
8 months, 3 weeks ago

Oil prices decline as risk premium eases following Iran attack; brent crude at $89.64/bbl

Live Mint  

Oil prices saw a downward drift on Monday, as the market seemed to minimize concerns about a wider regional conflict following Iran's weekend attack on Israel. “Crude oil dipped around $85 after Israel successfully defended itself from Iran's large-scale air attack over the weekend, and the US underlined its desire to prevent a larger Middle East conflict. The attack, labeled …

Oil prices subdued, energy security concerns escalate on West Asia tensions
8 months, 3 weeks ago

Oil prices subdued, energy security concerns escalate on West Asia tensions

Live Mint  

Global crude oil prices ticked lower on Monday as traders assessed the extent of damage and associated risks following Iran’s attack on Israel's military facilities. However, higher US crude oil stocks and strength in the dollar index limits gains of crude oil…If tensions further escalate in the Middle East, could certainly disturb global supply conditions and oil prices could boil …

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl
10 months, 2 weeks ago

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl

Live Mint  

Oil prices rose on Tuesday, February 27, as the market focused on uncertainty over a potential Gaza ceasefire and some expectations that the Organization of Petroleum Exporting Countries will extend voluntary supply cuts in March. Back home, on the Multi Commodity Exchange, crude oil futures due for a March 19 expiry, was last trading 0.59 per cent higher at ₹6,504 …

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81
11 months, 1 week ago

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81

Live Mint  

Oil prices edged lower on Tuesday, January 30, extending a more than one per cent drop in the previous session on China's economic outlook, however the losses were kept in check by supply fears driven escalating tensions in the Middle East. Back home, on the Multi Commodity Exchange, crude oil futures due for a February 16 expiry, was last trading …

Israel-Hamas War: Oil prices fall as investors assess impact
1 year, 2 months ago

Israel-Hamas War: Oil prices fall as investors assess impact

Live Mint  

Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. "Investors are trying to figure out the impact of the conflict while a large-scale ground assault has not begun after the 24-hour deadline that …

Israel-Hamas War: Global markets watch for fallout as Middle East tensions rise
1 year, 2 months ago

Israel-Hamas War: Global markets watch for fallout as Middle East tensions rise

Live Mint  

Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in other countries with the potential to increasingly drive up oil prices and send capital flowing to safehavens. Oil prices leapt nearly 6% on Friday as investors assessed what the conflict could mean for supplies from nearby countries …

As Israel's war against Hamas escalates, US sends a warning to Iran, raising fears of a recession
1 year, 2 months ago

As Israel's war against Hamas escalates, US sends a warning to Iran, raising fears of a recession

ABC  

As fears mount over Tehran's involvement in the Israel-Gaza conflict, the Biden administration has sent a clear message to Iran's regime: exercise caution. Iranian oil exports could take a hit While Iran is accused of supporting and funding terrorism, there's been a marked increase in Iranians protesting against the regime across Iranian cities, and many want the US to take …

Will global oil prices keep rising due to the Israel-Hamas war?
1 year, 3 months ago

Will global oil prices keep rising due to the Israel-Hamas war?

Al Jazeera  

Analysts see limited effect on prices in short term as neither Israel nor Gaza are significant producers. Global oil prices have spiked since fighting erupted between Israel and Hamas amid speculation about how the conflict could affect energy production in the Middle East. Unlike the spike in oil prices that followed Russia’s invasion of Ukraine last year, the fighting between …

Israel-Hamas war: Oil prices surge by over 4.5% amid Middle East tensions
1 year, 3 months ago

Israel-Hamas war: Oil prices surge by over 4.5% amid Middle East tensions

Hindustan Times  

Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. The surge in oil prices reversed last week's downward trend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated …

Oil prices jump more than $4 as Middle East violence rattles markets
1 year, 3 months ago

Oil prices jump more than $4 as Middle East violence rattles markets

The Hindu  

Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. The surge in oil prices reversed last week's downward trend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated …

Oil price spikes on Israel war. Here’s what a wider conflict might mean
1 year, 3 months ago

Oil price spikes on Israel war. Here’s what a wider conflict might mean

CNN  

London CNN — Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. Simone Tagliapietra, a senior fellow at Bruegel, told CNN that the United States had softened its stance in recent months to help secure the release of five American prisoners in Iran, …

‘Third wave’ of inflation looming as oil prices surge
1 year, 3 months ago

‘Third wave’ of inflation looming as oil prices surge

The Telegraph  

A third wave of inflation is looming after oil prices spiked following Hamas’s deadly attack on Israel, economists have warned. The price of Brent crude surged as much as 5pc on Monday to hit $89 a barrel amid fears that the war will escalate tensions in the Middle East, potentially triggering sanctions and supply shortages. It came as Israel’s central …

Crude oil price falls after media reports ignite US-Iran nuclear deal
1 year, 7 months ago

Crude oil price falls after media reports ignite US-Iran nuclear deal

Live Mint  

Oil dropped on regional media reports that ignited speculation the US and Iran are nearing a deal that would pave the way for more Iranian crude exports. Regional media including Israel’s Haaretz said Iran and the US have made progress in talks over the Islamic Republic’s nuclear program. Any agreement to restore the 2015 nuclear deal, which the Trump administration …

Iran says oil sales strong despite effect of Ukraine war
2 years, 6 months ago

Iran says oil sales strong despite effect of Ukraine war

Al Jazeera  

Iran’s petroleum ministry has said it won’t lose customers even as China buys more oil from Russia. Tehran, Iran – Iran says its oil sales have remained at relatively high levels despite changes brought on by the effects of the Ukraine war and the persistence of United States sanctions. Iran is now exporting more than one million barrels of crude …

Iran raises prices of food staples, stirring panic and anger
2 years, 7 months ago

Iran raises prices of food staples, stirring panic and anger

Associated Press  

DUBAI, United Arab Emirates — Iran abruptly raised prices as much as 300% for a variety of staples such as cooking oil, chicken, eggs and milk on Thursday. Iranian President Ebrahim Raisi has promised to create jobs, lift sanctions and rescue the economy, but talks to revive Iran’s tattered nuclear deal with world powers remain deadlocked. “Macaroni, bread and cooking …

Iran raises prices of food staples, stirring panic and anger
2 years, 7 months ago

Iran raises prices of food staples, stirring panic and anger

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Iranian President Ebrahim Raisi has promised to create jobs, lift sanctions and rescue the …

Iran’s president says oil exports have doubled since August
2 years, 8 months ago

Iran’s president says oil exports have doubled since August

Associated Press  

TEHRAN, Iran — Iran’s president said Monday the country is exporting twice as much oil as when he took office in August, despite heavy sanctions on oil exports imposed by the U.S. Ebrahim Raisi made the claim in a live interview on state-run TV without elaborating, including on the amount of oil being exported. “We are not worried about oil …

Delays in Iran talks take oil prices to their highest since 2008
2 years, 10 months ago

Delays in Iran talks take oil prices to their highest since 2008

India Today  

Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil. In response to Russia's demands, U.S. Secretary of State Antony Blinken said on Sunday that the sanctions imposed on Russia over its Ukraine invasion have …

Oil prices up nearly 2% amid potential Iran talks hitch
3 years, 7 months ago

Oil prices up nearly 2% amid potential Iran talks hitch

Live Mint  

London: Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs said the case for higher prices remains intact even with increased Iran exports. Oil prices fell almost 3% last week after Iran's president, Hassan Rouhani, said the United States was ready to lift …

Oil slumps two percent on possible return of Iranian supply
3 years, 7 months ago

Oil slumps two percent on possible return of Iranian supply

Al Jazeera  

Iran’s President Hassan Rouhani said world powers have accepted that significant sanctions on his country will be lifted, but also added that diplomats were still ironing out the ‘details and finer points’. “Even though we know they have already been ramping up their exports, it is adding to negative market sentiment.” Prices West Texas Intermediate for June, which expired Thursday, …

Israel 'launching strikes on ships carrying Iranian oil'
3 years, 9 months ago

Israel 'launching strikes on ships carrying Iranian oil'

The Telegraph  

Israel has attacked a series of ships en route to Syria carrying Iranian oil, according to US media reports, in what appears to be a new front in the regional conflict. On Thursday, the Wall Street Journal said that since 2019, Israel has been targeting ships carrying Iranian oil and other cargo. Israel’s environment protection minister Gila Gamliel accused Iran …

Oil surges, stocks fall after Iran targets US troops in Iraq
5 years ago

Oil surges, stocks fall after Iran targets US troops in Iraq

Al Jazeera  

Tehran’s attack on US-led forces in Iraq also scared investors into selling shares for safe-haven investments like gold. Oil prices calmed on Wednesday following an early surge due to concerns that global oil supplies may be disrupted after Iran fired rockets at military bases in Iraq hosting United States forces, raising the prospect of a regional conflagration that could disrupt …

Oil prices shoot over 2% after President Donald Trump threatens Iraq sanctions, Iran retaliation
5 years ago

Oil prices shoot over 2% after President Donald Trump threatens Iraq sanctions, Iran retaliation

Firstpost  

Oil prices shot more than 2 percent higher on Monday, with Brent rising above $70 a barrel, after US President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East. Singapore: Oil prices shot more than 2 percent higher on Monday, with Brent rising above $70 a barrel, after US President …

Deadly attack by US on Iranian general rattles energy market
5 years ago

Deadly attack by US on Iranian general rattles energy market

Associated Press  

LONDON — Crude prices on Friday had the largest one-day spike since a September attack on the world’s largest oil processing facility in Saudi Arabia after the U.S. killed Iran’s top general in a drone strike. “The factors in the market pushing oil prices higher are based on the view that Iranian authorities collectively, or the Islamic Revolutionary Guard Corps, …

Oil prices surge, stocks slip after US kills Iran general
5 years ago

Oil prices surge, stocks slip after US kills Iran general

Associated Press  

BEIJING — Oil prices surged and most major global stock markets declined Friday after an Iranian general was killed by U.S. forces in Iraq. News that Gen. Qassem Soleimani, head of Iran’s elite Quds Force, was killed in an air attack at the Baghdad international airport prompted expectations of Iranian retaliation against U.S. and Israeli targets. The U.S. government blames …

Iran says missiles strike its oil tanker off Saudi Arabia
5 years, 2 months ago

Iran says missiles strike its oil tanker off Saudi Arabia

Associated Press  

TEHRAN, Iran — Iran said Friday two missiles struck one of its oil tankers traveling through the Red Sea off the coast of Saudi Arabia, a mysterious assault not immediately corroborated that still spiked oil prices amid months of heightened tensions at sea across the wider Mideast. There was no acknowledgement of the incident from Saudi Arabia, which in September …

How the Iran crisis could impact oil prices
5 years, 5 months ago

How the Iran crisis could impact oil prices

Live Mint  

Surging oil and gas prices, skyrocketing insurance costs and attacks on energy and banking infrastructure are likely to follow quickly if Iran’s interception of two UK-linked tankers spirals into outright war. The idea the Strait of Hormuz would close is “nonsense,” said Fereidun Fesharaki, chairman of energy industry consultant FGE and an adviser to Iran’s government in the 1970s. Oil …

Oil prices sink on signs of easing Iran tensions
5 years, 5 months ago

Oil prices sink on signs of easing Iran tensions

CNN  

New York CNN Business — US oil prices tumbled on Tuesday after Secretary of State Mike Pompeo hinted at thawing tensions between the United States and Iran. The apparent progress between the United States and Iran could ease fears of a military conflict that would sideline supplies near the Strait of Hormuz, the vital oil chokepoint in the Middle East. …

Crude prices surge after tanker incidents in Gulf
5 years, 6 months ago

Crude prices surge after tanker incidents in Gulf

Al Jazeera  

Oil prices had dropped to five-month lows before the latest incident involving tankers in the Middle East. A unit of the United Kingdom‘s Royal Navy said it was aware of the incident on Thursday and the United States Fifth Fleet said it was assisting after receiving distress calls. The UK Maritime Trade Operations, which is a part of the UK …

Oil and gas prices: What the Gulf tanker attacks mean for them
5 years, 6 months ago

Oil and gas prices: What the Gulf tanker attacks mean for them

CNN  

New York CNN Business — The oil market’s relatively calm response to Thursday’s alarming tanker attacks in the Gulf of Oman is very telling. The relatively muted reaction shows what’s really driving the oil market right now: signs of deteriorating demand caused by the elevated trade tensions and slowing global economic growth. “The risk of miscalculation in the Middle East …

Oil prices surge after tankers attacked near Iran coast
5 years, 6 months ago

Oil prices surge after tankers attacked near Iran coast

CNN  

London CNN Business — Crude oil futures surged more than 4% on Thursday after two tankers were attacked in the Gulf of Oman, a key waterway used to transport energy supplies from the Middle East. An advisory from the agency indicated the incident had occurred near the Strait of Hormuz, a strategic choke point through which roughly 30% of the …

How the US-Iran oil standoff could hurt the economy
5 years, 7 months ago

How the US-Iran oil standoff could hurt the economy

CNN  

New York CNN Business — The American economy is already absorbing a body blow from the deepening US-China trade war. The risks of a Middle East military confrontation are rising sharply.” RBC Capital's Helima Croft Besides long lines at gas stations, the Saudi oil embargo of 1973-1974 helped set off a jump in oil prices that crippled the economy. “Historically, …

Oil prices under pressure from Sino-US trade dispute; sanctions against Iran, Venezuela keep market on edge
5 years, 8 months ago

Oil prices under pressure from Sino-US trade dispute; sanctions against Iran, Venezuela keep market on edge

Firstpost  

The US sanctions halved Iranian crude oil exports over the past year to below 1 million bpd, and shipments to customers are expected to drop as low as 500,000 bpd in May as sanctions tighten. Singapore: Oil prices were under pressure on Tuesday from concerns the escalating Sino-US trade dispute could slow the global economy, while US sanctions on crude …

Oil prices climb in wake of Iranian oil sanctions decision
5 years, 8 months ago

Oil prices climb in wake of Iranian oil sanctions decision

Associated Press  

NEW YORK — Global oil prices are rising in the wake of President Donald Trump’s decision to impose sanctions on nations that import Iranian oil and could eventually climb to levels that would impact American consumers. President Donald Trump made the decision as part of the administration’s “maximum pressure” campaign on Iran that aims to eliminate all of its revenue …

Iran sanctions send oil prices, supply concerns higher
5 years, 8 months ago

Iran sanctions send oil prices, supply concerns higher

Associated Press  

NEW YORK — The Trump administration’s decision to impose sanctions on countries that buy Iranian oil is raising concerns about global crude supply and sending oil prices to their highest levels since October. “It’s difficult to imagine all exports being cut off, especially since China is still a major buyer of Iranian crude oil,” said Jim Burkhard, vice president for …

Oil shoots above $65 on fears about Iran sanctions
5 years, 8 months ago

Oil shoots above $65 on fears about Iran sanctions

CNN  

New York CNN Business — US oil prices raced above $65 a barrel on Monday for the first time since Halloween after the White House pledged to deepen its crackdown on Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that previously allowed some countries to buy crude from the OPEC nation. Saudis …

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