Oil

Oil prices rise 2% as hostilities worsen in the Middle East

Oil extended gains by around 2% on Wednesday as President Donald Trump ‌reimposed a naval blockade on all Iranian ports and Iran's Islamic Revolutionary Guard Corps threatened to close "all…

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Oil hits one-month high as US, Iran step up attacks in Strait of Hormuz

Oil prices rose nearly 3% on Tuesday to their highest in four weeks, as ‌the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in…

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Oil heads for weekly gain as Middle East supply risks persist

Oil prices eased on Friday but remained on ‌track for weekly gains as renewed U.S.-Iran fighting disrupted shipping in the Strait of Hormuz, stoking concerns over supply disruptions. Brent futures…

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Oil rises after US launches fresh strikes on Iran

Oil prices rose more than 1% on Thursday after the U.S. carried out fresh strikes on ‌Iran, denting hopes for talks to end their war and for the full reopening…

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Oil jumps over 5% after Trump says deal with Iran ‘over

Oil prices jumped more than 5% on Wednesday, hitting a two-week high after U.S. President Donald Trump said the ‌memorandum of understanding to end the conflict with Iran was "over",…

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Oil drifts down after OPEC+ agrees to raise output targets

Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August ‌while exports from key producers via the Strait of Hormuz are recovering, potentially…

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Oil inches down as investors focus on Hormuz flows after peace talks

Oil prices inched down on Tuesday, extending losses from the previous session, as investors looked for clearer signs of progress in restoring crude flows through the Strait of Hormuz following…

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Oil rises more than $1 as escalation in US-Iran strikes unnerve traders

Oil prices jumped on Thursday as Tehran declared the critical energy chokepoint, the Strait of Hormuz, closed ‌after the U.S. launched additional strikes against Iran and as President Donald Trump…

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Oil falls as Lebanon and Israel agree on a ceasefire

Oil prices fell on Thursday as a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end the U.S.-Israeli war with Iran that could lead to…

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Oil surges after Iran targets US airbase in retaliation

Oil prices jumped more than 3% on Thursday after Iran's Revolutionary Guards said they targeted a U.S. airbase in response ‌to a U.S. attack near Bandar Abbas airport. Brent crude…

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Oil pulls back as traders look for progress on US-Iran talks

Oil prices pulled back from recent highs on Wednesday, erasing some of the previous day's 4% gain as traders sought ‌clarity on complex negotiations between Iran and the U.S. after…

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Oil prices rise as investors doubt breakthrough in US-Iran peace talks

Oil prices climbed on Friday but were on track for a ‌weekly loss as investors doubted the prospects of a breakthrough in U.S.-Iran peace talks. Brent crude futures rose $1.66,…

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Oil prices rise as fragile US-Iran talks sustain supply worries

Oil prices rose nearly 1% on Tuesday as talks ‌to end the U.S.-Israeli war on Iran appeared fragile, with Tehran's response to a Washington proposal highlighting stark differences that have…

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Oil prices jump on renewed US-Iran hostilities

Oil prices rose about 1% on Friday after renewed fighting broke out between the U.S. and Iran, threatening a shaky ceasefire and dashing hopes ‌for progress on a reopening of…

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Oil prices rise as investors weigh Middle East peace prospects

Oil prices rose over $1 on Thursday, rebounding from the previous day's sharp losses, as investors weighed ‌the prospects of a Middle East peace deal succeeding. Brent crude futures were…

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Oil eases on signs US is loosening Iranian closure of Strait of Hormuz

Oil prices eased more than 1% on Tuesday after climbing by as much as 6% in the previous session on ‌signs the U.S. Navy is loosening Iran's grip on the…

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Brent oil rises 7% on report US considering military options to break Iran deadlock

Brent oil prices rose as much as 7% on Thursday on a report the U.S. is considering potential military action against Iran to break the deadlock ‌in negotiations to end…

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Sweden warns of potential jet fuel shortage

Sweden is ‌issuing an early warning of a potential shortage of jet fuel stemming from the war ⁠in the Middle East, Energy Minister Ebba Busch said on Tuesday. "This is…

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Oil prices rise 1% as no end to Iran war stand-off seems in sight

Oil prices rose 1% on Tuesday, extending gains from the previous session, ‌as efforts to end the U.S.-Iran war appear stalled, with the crucial Strait of Hormuz waterway still mainly…

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Gold set for weekly drop as higher oil prices stoke inflation fears

Gold prices fell on Friday and were on ‌track for a weekly drop, as elevated oil prices fuelled fears of inflation and higher-for-longer interest rates amid stalled U.S.-Iran peace talks.…

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EU Commission stepping up coordination to avoid jet fuel shortage

The European Union (EU) on Wednesday announced a set of policy agendas aimed at easing the energy crisis triggered by the war in the Middle East. The European Commission presented a toolbox of measures named…

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Oil gains on lack of progress on US-Iran talks, Hormuz shipping still disrupted

Oil prices extended their gains on Thursday in ‌the wake of stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of…

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Oil falls on expectations US-Iran talks likely to proceed, opening supply

Oil prices fell on Tuesday, reversing gains in the previous session, on ‌expectations peace talks between the U.S. and Iran will take place this week and allow more supply to…

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Oil rises 5% on renewed US-Iran tension

Oil prices jumped more than 5% on Monday, on fears that the ceasefire between the United States and Iran could collapse ‌after the U.S. seized an Iranian cargo ship, while…

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SAS to cancel 1,000 flights in April after jet fuel price doubles in 10 days

Scandinavian airline SAS has said that it will cancel at least a thousand flights in April after the conflict in the Middle East sent fuel prices surging. "The price of…

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Oil prices fall over $2 as Iraqi and Kurdish authorities agree to export deal

Oil prices fell more than $2 per barrel on Wednesday to ‌pare some of Tuesday's sharp gains after the Iraqi government and Kurdish authorities reached a deal to resume oil…

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UPDATED: Oil prices jump 4% after renewed Iranian attacks on UAE

Oil prices rose by about 4% on Tuesday, clawing back some of the previous session's losses as Iranian attacks on the United Arab ‌Emirates rekindled supply fears while the Strait…

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Oil rises as Middle East attacks continue

Oil prices ‌rose on Monday as the U.S.-Israeli war on Iran continued to disrupt oil production and shipping in the Middle East, despite U.S. President Donald Trump's call for global…

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Goldman Sachs hikes average Brent oil forecast to over $100 a barrel for March

Goldman Sachs expects Brent oil to average over $100 a barrel ‌in March, and $85 in April, it said on Friday, as energy prices remain volatile due to the Iran…

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Oil heads for weekly gains despite US sanctions waiver on Russian oil

Oil prices headed for weekly gains as of Friday, despite the U.S. trying to ease supply concerns by issuing a ‌30-day license for countries to buy Russian oil and petroleum…

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Oil falls as Trump predicts Middle East de-escalation

Oil prices fell on Tuesday after hitting an over three-year high in ‌the prior session as U.S. President Donald Trump predicted the war in the Middle East could end soon,…

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Bahrain’s state oil company declares force majeure on its shipments after Iran attack

Bahrain’s state oil company declared force majeure on Monday for its shipments after an Iranian attack set its refinery ablaze. The state-run Bahrain News Agency carried the announcement of the…

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Oil soars 25%, gold drops as Iran war jolts global commodity markets

Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track ‌for a record one-day gain, while gold fell 2% as an escalating Iran war…

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Oil prices rise 1% as Iran crisis disrupts Middle East supply

Oil prices rose 1% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from ‌past sessions after President Donald Trump raised…

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Shipping Paralysed in Strait of Hormuz as Insurance Costs and Energy Prices Surge

Global shipping and energy markets are facing mounting disruption as vessels remain stranded near the Strait of Hormuz, a chokepoint that carries around one in five barrels of the world’s…

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Oil rises as expanding US-Israel war with Iran heightens supply risks

Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the ‌Strait of Hormuz heightened…

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Oil surges 8% as Iran conflict disrupts Middle Eastern flows

Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian…

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EU policymakers expect no immediate oil security impact from Iran conflict

The European Commission does not expect the widening conflict in the Middle East to have any immediate impact on the European Union's security of oil supply, it said in an…

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Middle East oil exports push tanker costs to 6-year-high amid threat of US-Iran war

The cost of shipping oil has surged to the highest in six years, fuelled by a wave of crude exports from the Middle East as traders accelerate charters ahead of…

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Precious metals, oil slide as global tensions ease; copper down

Prices of commodities, from silver and gold to crude oil and copper, dived on Thursday, as global tensions eased after a telephone call between the leaders of China and the…

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Libya plans to boost gas exports to Europe by 2030

Libya plans to boost its natural gas production in the next five years to have more supply available for export to Europe by early 2030, National Oil Corporation Chairman Massoud…

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Oil prices gain 1.5% on increasing concerns of Iran attack

Oil prices rose more than 1.5% in Asian trade, extending gains for a third day on Thursday, on increasing concerns the U.S. may carry out a military attack on key…

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Libya signs $20bn oil deals with US and French energy companies

Libya’s Tripoli-based government signed a 25-year oil development agreement with France's TotalEnergies and the US’s ConocoPhillips that could more than double the output of its Waha Oil company. Waha, a…

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Oil prices rise as US supply worries linger after winter storm

Oil prices gained further ground on Wednesday as supply concerns lingered after a winter storm disrupted U.S. crude output and exports, while Middle East tensions lent additional support. Brent crude…

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Oil slips even as US winter storm curbs crude output

Oil prices fell on Tuesday even as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast. Brent crude futures fell 28 cents, ‌or 0.4%,…

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Oil little changed as supply concerns temper US winter output disruptions

Oil prices were little changed on Monday after climbing more than 2% in the previous session, as supply concerns kept a lid on benchmarks despite production disruptions in major U.S.…

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Oil prices rebound after Trump comments on ‘armada’ moving to Iran spur supply worries

Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against major Middle Eastern producer Iran, raising concerns of military action that could disrupt supplies. Brent crude futures…

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Oil edges up after Trump backs off tariff threat on Greenland

Oil prices edged up on Thursday, after U.S. President Donald Trump ratcheted down tension with Europe over his demand for Greenland, while disruptions in supply from two large fields in…

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Oil prices fall as risks from Kazakh production halt subside

Oil prices fell on Wednesday as an expected build-up of U.S. crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan and geopolitical pressure from U.S.…

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Oil firmer as ebbing Iranian protests lower chance of US attack

Oil prices were up slightly on Monday, after the previous session's rise, as Iran's deadly crackdown on protests quelled civil unrest, narrowing chances for a U.S. attack on the major…

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Oil prices extend losses as chance of US strike on Iran recedes

Oil prices fell in Asian trade on Friday, extending losses from the previous session, as concerns about supply risks eased after the likelihood of a U.S. strike on Iran receded.…

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Oil drops as Trump calms Iran fears

Oil prices retreated from multi-month highs on Thursday and safe-haven gold eased back from a record peak after U.S. President Donald Trump calmed market anxiety about potential U.S. military ‌action…

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Oil pauses gains as Venezuela shipments resume, but Iran concerns loom

Oil slipped after four days of increases on Wednesday as Venezuela resumed exports and U.S. crude and ‌product inventories rose, though fears of Iranian supply disruptions due to deadly civil…

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Oil extends climb on Iran supply disruption concerns

Oil prices extended gains on Tuesday as heightened concerns surrounding Iran and potential supply disruptions outweighed the prospect of increased crude supply from Venezuela. Brent futures rose 22 cents, or…

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Oil edge up as Iran supply risk counters Venezuela export resumption

Oil prices edged higher on Monday as escalating protests in Iran sparked concerns about supplies from the OPEC producer, while efforts to resume oil exports from Venezuela and expectations the…

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Oil prices gain on concerns about supply disruptions in Venezuela, Iran

Oil prices rose for a second day on Friday, set for their third weekly gain, on uncertainty about the future of supply from Venezuela and as Iranian unrest increases concerns…

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Oil prices recover, stocks wobble as investors weigh geopolitics, US data

Oil prices steadied on Thursday after their recent slide, while stocks were off to a rocky start as investors assessed the implications of deepening geopolitical tensions and mixed U.S. labour…

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