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Wright predicts more oil will move through Hormuz
Energy Secretary Chris Wright predicted Tuesday that the amount oil moving through the Strait of Hormuz will “continue to rise” as the U.S. and Iran work to end the 100-plus day conflict. © AP Photo/Mark Schiefelbein, File During…
Iraq Boosts Oil Exports as More Tankers Transit Strait of Hormuz
Iraq is accelerating oil loadings at its main port and boosting shipments out of the Persian Gulf in the latest sign that the region's top OPEC producers are getting more barrels through the vital Strait of Hormuz. Observed shipments of Iraqi oil…
Physical Oil Markets Are Floundering Despite 100 Days of War
The world's physical oil markets are confounding concerns about the growing supply shortfall that's being caused by the Iran war. Physical crude grades ripped to record premiums soon after the war began before fizzling out as refineries…
Oil Prices Set to Keep Rising Even After Iran Conflict Ends, Shell Boss Says
Prices of oil and gas will likely continue to rise beyond the current conflict-driven pressure as global demand continues to grow, the chief executive of oil major Shell said. Upside pressure on prices will be a story for the longer term, Wael…
Iran-Linked Oil Tanker Suffers Fire in Gulf of Oman Incident
A tanker that has previously carried Iranian oil suffered a fire in the Gulf of Oman, maritime security companies and local navies said. Pakistan's hydrographic service said the Settebello tanker reported a fire and was adrift. Kpler data show the…
Tech leads Asia losses, oil rises as rollercoaster week rumbles on
Stocks fell Wednesday to extend a rollercoaster week for markets, with tech firms once again bearing the brunt of the selling as investors fret over elevated prices and possible US interest rate hikes. Worries over the Middle East crisis were also…
Oil Fluctuates, Asian Stocks Fall Amid U.S.-Iran Tensions - Update
The U.S. military conducted strikes against Iran on Tuesday in retaliation for the downing of a U.S. Apache helicopter near the Strait of Hormuz, according to U.S. Central Command. President Trump directed the strikes, which the military…
Higher oil prices are making Russia richer - but not helping its economy grow, Goldman says
Sanctions-hit Russia is raking in more money from high oil prices, but that doesn't mean its economy is about to take off, according to Goldman Sachs. International benchmark Brent crude futures were trading around $92 a barrel late Tuesday…
Trump Says Iran Will 'Pay the Price', Oil Jumps, More
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Oil Rises on Escalating Supply Disruption Concerns
2335 GMT — Oil rises on escalating supply disruption concerns caused by the exchange of attacks between the U.S. and Iran. The U.S. launched strikes on Iran Tuesday in retaliation for the downing of a U.S. Apache helicopter near the Strait…
Oil Prices Resume Climb on Doubts About Hormuz Reopening - TT
A driver refuels at a Wawa gas station in Media, Pa. (Matthew Hatcher/Bloomberg) Oil prices tick up after rising and then falling the day before. Oil is uncertain after the U.S. military launched attacks against Iran following the crash of an Army…
Oil Tankers Go Dark to Sneak More Gulf Barrels Through Hormuz
Off the coast of Oman over the weekend, 16 tankers clustered together to transfer millions of barrels of oil that had been stranded in the Persian Gulf. A month ago, that area had been entirely empty. They're part of a growing number of tankers…
China's consumer prices see May uptick as oil shock inflates factory-gate costs
China's consumer inflation edged up in May from a year earlier, as the global oil shock linked to the US-Israel war on Iran helped alleviate some of the price effects from persistent weaknesses in household spending. The consumer price index (CPI)…
Wright says amount of oil through the Strait of Hormuz will 'continue to rise'
Energy Secretary Chris Wright predicted Tuesday that the amount oil moving through the Strait of Hormuz will “continue to rise” as the U.S. and Iran work to end the 100-plus day conflict. During an Atlantic Council event, Wright said…
How the Iran war aftershocks are hitting oil, coal, climate
With the Iran war now over 100 days old, here's the latest rolling snapshot of how it's driving changes in energy markets. The big picture: Global oil use is going down (in the short term), UN climate officials are using the crisis to push for…
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