Tag: oil prices

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

US Strategic Petroleum Reserve Falls Below 300 Million Barrels, Lowest Since 1983

The US Strategic Petroleum Reserve has fallen below 300 million barrels, its lowest since 1983, as oil prices rise on fading US-Iran deal hopes.

Oil Surges and Global Stocks Slide as Iran Vows Strait of Hormuz Stays Shut

Oil prices jumped and global stocks slid as Iran vowed the Strait of Hormuz would stay closed, raising fresh fears over energy supplies and inflation.

Trump Pivots to Sanctions and Naval Blockade in Prolonged Iran Standoff Over Hormuz

The US is pivoting from military strikes to sanctions and a naval blockade against Iran as oil prices stabilise and the Strait of Hormuz crisis drags on.

BP Profits Surge 144% to $5.7 Billion on Higher Oil Prices and Refining Boom

BP reported a $5.7 billion second-quarter profit, a 144% surge that beat Wall Street expectations, driven by higher oil prices and stronger refining margin

Oil Prices Climb After Houthis Claim Strike on Saudi Tanker in Red Sea

Crude oil prices climbed Wednesday after Yemen's Iran-backed Houthis claimed a strike on a Saudi tanker in the Red Sea, reviving shipping security fears.

Oil Pares Gains as Bessent Signals Hormuz Deal Could Land Within Days

Crude prices eased after US Treasury Secretary Bessent signaled a Strait of Hormuz reopening deal could come within days, emphasizing freedom of movement.

Crude Prices Climb as Iran Sets Conditions for Reopening Strait of Hormuz

Oil prices climbed as Tehran demanded an end to a US naval blockade before reopening the Strait of Hormuz, deepening uncertainty in energy markets.

U.S. Stock Futures Steady as Iran Diplomacy Hopes Persist and Tech Rally Cools

U.S. stock futures held steady as investors weighed hopes of a U.S.-Iran diplomatic breakthrough against a cooling technology rally.

Houthi Strike and Iran Warnings Rattle Markets, Clouding Hopes for Hormuz Shipping Deal

Global markets slipped as a Houthi strike and Iran warnings dampened hopes for a US-Iran-Oman deal to reopen shipping through the Strait of Hormuz.

Dow Hits Record as Bessent Signals Strait of Hormuz Deal Could Come This Week

U.S. stocks hit records and oil prices fell after Treasury Secretary Scott Bessent said a deal to reopen the Strait of Hormuz could come this week.

Iran and Oman Advance Deal to Reopen Strait of Hormuz as Mediators Report Progress

Iran and Oman report progress on a deal to reopen the Strait of Hormuz under US and Qatari mediation, sending oil prices lower as the waterway stays closed

US and Iran Offer Conflicting Accounts of Talks as Cargo Ship Struck in Strait of Hormuz

Washington and Tehran gave conflicting accounts of negotiations to end their war as a cargo ship reported being hit by a projectile in the Strait of Hormuz

Trump Criticizes Exxon and Chevron for High Profits, Demands Lower Gasoline Prices

President Trump criticized Exxon Mobil and Chevron for profiting from high oil prices during the Iran conflict, demanding lower gasoline costs for consumer

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