Search Results for: oil markets

Oil prices jumped about 3% to around $74 per barrel after President Trump dampened hopes for a quick Israel-Iran ceasefire. Speaking to reporters, Trump said he wants “a real end” to the conflict and Iran’s nuclear program “wiped out.” The uncertainty has pushed oil market volatility to three-year highs. While Iran’s oil infrastructure remains untouched, traders worry about potential disruptions to crude flows through the Strait of Hormuz, which handles 20% of global oil output. The region faces increased shipping risks, with navigation interference and safety concerns mounting.

Oil prices jumped 8% on Friday after Israel conducted airstrikes on Iranian nuclear and military facilities, with Brent crude reaching nearly $74 per barrel. Israeli Prime Minister Netanyahu stated Israel would continue strikes “for as many days as it takes,” while President Trump urged Iran to negotiate over its nuclear program. As OPEC’s third-largest producer, Iran’s oil exports of 1.6-1.8 million barrels daily face potential disruption, creating uncertainty in global energy markets.

Oil prices jumped 3% Monday after Ukraine’s surprise drone strikes on Russian air bases damaged military bombers. This geopolitical shock temporarily overshadowed OPEC+’s weekend decision to boost production by 411,000 barrels per day in July—their third straight month of increases. OPEC+ has now restored 1.37 million of the 2.2 million barrels per day they cut in January 2024. However, analysts doubt the price rally will last. They see it as a brief “relief rally” sparked by conflict rather than real market improvements. The oil market remains fundamentally weak due to excess supply and poor demand. Despite Monday’s gains, both WTI

Oil prices rose by 1.5% on Thursday after a U.S. court blocked President Trump’s broad tariffs on imports, providing temporary relief to markets concerned about economic growth. Brent crude reached $65.84 per barrel while WTI hit $62.74. The market is also monitoring potential new sanctions on Russian oil and an upcoming OPEC+ decision about increasing production in July. Additional supply concerns include Chevron’s terminated operations in Venezuela after losing its license. Despite various supply risks, analysts expect oil demand to outpace supply through August.

Oil prices rose Tuesday, marking the third consecutive gain as tensions increased in the Middle East following U.S. strikes on Iran-backed Houthi rebels in Yemen. WTI crude rose 1.5% to $68.60 per barrel, while Brent crude increased 1.4% to $72.07. The market is also watching President Trump’s scheduled call with Russian President Putin regarding a potential Ukraine cease-fire, which could impact energy markets if Russian energy flows resume.

Oil prices rebounded on Friday with Brent crude up 0.77% to $70.42 and WTI up 0.87% to $67.13, recovering from the previous day’s losses. The recovery stems from diminishing hopes for a quick end to the Ukraine conflict after Russian President Putin expressed only conditional support for a U.S.-proposed ceasefire. Additional factors influencing prices include the expiration of a U.S. license for energy transactions with Russian financial institutions, Chinese state firms reducing Russian oil imports due to sanctions risks, and the International Energy Agency’s warning of potential global oil oversupply of 600,000 barrels per day this year.

Global oil markets are experiencing significant volatility as traders navigate President Trump’s aggressive trade policy initiatives, with Brent crude oscillating around $78 per barrel. The latest market turbulence stems from Trump’s swift actions against Colombia, where threatened tariffs were quickly suspended after Bogota agreed to presidential demands. This follows a broader pattern of Trump’s trade confrontations with major economies, including China, Canada, Mexico, and the EU, while simultaneously pressing OPEC to lower prices to impact Russian oil revenues. Despite these geopolitical pressures, oil prices have maintained strength since the year’s start, bolstered by several factors: cold weather impacts, Russian oil

Gold futures retreated Monday after the Trump administration promised to clarify “misinformation” about new tariffs on gold bars that had sent prices soaring to record highs last week. The confusion stemmed from a US Customs ruling suggesting certain gold bars would face import duties, causing futures to spike over $100 above London spot prices on Friday. While gold has gained about 30% this year amid trade tensions, the market remains on edge awaiting long-term clarity on the precious metal’s tariff exemption status. Traders are also watching Tuesday’s inflation data for clues about Federal Reserve rate policy, which could significantly impact

Global markets shifted toward safe-haven assets Monday after US strikes on Iran escalated Middle East tensions. The dollar strengthened against the euro and other major currencies, while Brent crude oil surged as much as 5.7% to $81.40 per barrel before paring gains. US equity futures declined as investors weighed the risks of Iranian retaliation, including potential disruption to the Strait of Hormuz—a critical passage for global energy supplies. Market experts suggest the reaction has been relatively contained because investors anticipate the conflict will remain localized. However, analysts warn that more aggressive moves could occur if Iran blocks oil shipments or