Oil

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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Oil falls after Trump says Venezuela will send oil to United States

Oil prices declined on Wednesday after U.S. President Donald Trump said Venezuela will be "turning over" 30 million to 50 million barrels of sanctioned oil to the United States. U.S.…

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Oil flotilla sails from Venezuela despite US blockade

About a dozen oil tankers loaded with Venezuelan crude and fuel have left the country's waters since the start of the year in apparent defiance of the U.S. government's blockade…

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Gold hits one-week high on Fed rate-cut bets, Venezuela turmoil

Gold rose further on Tuesday to hit a one-week high, as dovish comments from Federal Reserve officials boosted interest rate-cut bets and Venezuela tensions bolstered safe-haven demand. Spot gold was…

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Oil falls on prospect of higher Venezuelan output, ample supply outlook

Oil prices fell on Tuesday as traders weighed the prospect of higher Venezuelan crude output following the U.S. capture of President Nicolas Maduro, adding to expectations of ample global supply…

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Oil slips as global supplies counter upheaval in Venezuela

Oil prices drifted lower on Monday, as adequate global supplies offset concerns about supply disruptions after the United States captured Venezuelan President Nicolas Maduro in an audacious raid over the…

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Oil inches up following biggest annual loss since 2020

Oil prices edged up on the first day of trade in 2026, after last year posting their biggest annual loss since 2020, as Ukrainian drones targeted Russian oil facilities and…

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Oil edges up but Brent on course for longest stretch of annual losses in 2025

Oil prices were little changed on Wednesday but are set to fall more than 15% for 2025, as supply outpaced demand in a year marked by wars, higher tariffs and…

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Oil prices retreat slightly; investors wary of Russia–Ukraine tensions

Oil prices retreated a touch early on Tuesday after rising more than 2% in the previous session, partly driven by spillover from a pullback in precious metals even as escalating…

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Oil rises as investors weigh outcome of Trump–Zelenskiy meeting

Oil prices rose on Monday as investors weighed the outcome of talks between the U.S. and Ukrainian presidents on a potential deal to end the war in Ukraine, as well…

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Oil rises slightly as market weighs supply risks

Oil prices rose slightly on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the…

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Oil steady after five-day rally on US data, geopolitical tension

Oil prices steadied on Wednesday, after gaining in the previous five sessions, supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia. Brent crude…

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Oil up on news the US intercepted an oil tanker off Venezuela

Oil prices rose on Monday after officials said the U.S. had intercepted an oil tanker in international waters off the coast of Venezuela, raising fresh supply uncertainty. Brent crude futures…

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Ukrainian war spreads to the Mediterranean

Ukraine says it has attacked a Russian “shadow fleet” tanker with aerial drones 1,250 miles (2,000km) from its borders, in the first such strike in the Mediterranean Sea since Moscow’s…

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Oil gains on Venezuelan supply concerns, but poised for weekly loss

Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects…

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Oil little changed as investor focus returns to Ukraine peace talks

Oil prices were broadly stable on Thursday as investors shifted their focus back to Russia-Ukraine peace talks while watching for any fallout from a U.S. seizure of a sanctioned tanker…

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Oil steady as supply concerns cap gains, market eyes Ukraine peace talks

Oil prices held steady on Wednesday after falling about 1% in the previous session, as concerns over supply outpacing demand capped gains and investors watched for progress in Russia-Ukraine peace…

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Oil edges down with Ukraine peace talks, US rate decision in spotlight

Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia's war in…

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WTI heads for weekly gains as Fed hopes boost market and Venezuela tensions loom

WTI oil prices were poised for a weekly gain on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow, though…

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