Oil prices turned lower in Asian trading on Tuesday as markets reacted to reports that Donald Trump had indicated to aides he was prepared to bring the conflict with Iran to an end without insisting on the immediate reopening of the Strait of Hormuz.
US President Donald Trump has said in an interview with Financial Times that he wanted to "take the oil in Iran" and could seize the export hub of Kharg Island.
Oil prices continued their upward climb on Monday, as markets focused on escalating geopolitical risks in the Middle East despite renewed assertions by US President Donald Trump that talks with Iran remain under way and could still lead to a diplomatic breakthrough.
Investors must prepare now for higher interest rates due to the escalating Iran conflict, warns the CEO of one of the world’s largest independent financial advisory organisations.
Global oil and gas prices surged on Tuesday as the escalating U.S.-Israeli war with Iran disrupted energy exports from the Middle East, triggering supply fears and sending shockwaves through commodity markets.
Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at its full capacity of 7 million barrels a day, Bloomberg News reported, citing a person familiar with the matter.
Qatar National Bank (QNB) said China's economic growth outlook remains broadly resilient despite mounting geopolitical tensions and volatility in global energy markets, citing structural factors that mitigate the impact of rising energy prices.
Global oil prices rose on Thursday, recovering part of the previous session’s losses, as market participants reassessed the outlook for a potential de-escalation in tensions involving Iran and the United States. The conflict has continued to disrupt energy flows across a critical oil-producing region.
The Japanese government started releasing state-held oil to stabilise supplies amid the ongoing US-Israeli war with Iran, as part of the largest-ever drawdown of reserves stockpiled in the country.
The International Energy Agency (IEA) urged demand-side measures to ease consumer impacts from Middle East war disruptions. Reduced Strait of Hormuz flows tightened markets, cutting supply, pushing oil above $100 per barrel and raising refined product prices sharply.
