NEW YORK — The price of oil surpassed $100 a barrel for the first time in almost six weeks after attacks on oil facilities and ships in the Middle East threatened to debilitate an already weakened supply chain. The most heavily traded contract for a barrel of Brent crude, the international standard, settled at $97.89 […]
BENGALURU — Oil prices rose 2% 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 the Strait of Hormuz, heightening uncertainty about energy flows. Brent crude futures climbed $1.68, or 2%, to $84.98 per barrel by 0051 GMT, while […]
TOKYO — Oil prices climbed nearly 2% on Wednesday after the U.S. military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again. The U.S. airstrikes were in response to Iranian attacks on three commercial vessels that were transiting the Strait […]
SINGAPORE — Oil prices rose on Monday following days of tit-for-tat strikes by the U.S. and Iran that underscored the fragility of their interim peace deal and again slowed energy shipping through the Strait of Hormuz. Brent crude futures climbed 58 cents, or 0.8%, to $72.57 a barrel at 0207 GMT while U.S. West Texas […]
TEHRAN — The first tankers carrying Iranian oil exited a US blockade in the Strait of Hormuz, a tracking website said on Wednesday, two days before Washington and Tehran launch talks on an agreed peace deal still scant on details — including Iran’s nuclear programme and the lifting of sanctions. The talks on a final […]
HONG KONG — Oil prices tumbled and stocks soared Monday after the United States and Iran said they had reached a deal to end their war that will reopen the Strait of Hormuz, sending a wave of relief through global markets. The two sides confirmed an announcement from mediator Pakistan, with a signing ceremony set […]
LONDON — The start of peak summer fuel demand combined with the lack of new oil exports from the Middle East and depleting stocks could push the oil market into the “red zone” in July-August, the head of the International Energy Agency said on Thursday. “We may be entering the red zone in July or […]