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Oil industry executives paint grim picture of Iran war supply disruption (USO:NYSEARCA)
Oil industry CEOs at the largest U.S. energy industry conference this week expressed frustration over President Trump's chaotic policymaking and abrupt decision to attack Iran, saying financial markets have not accurately reflected the gravity of…
From oil to food to markets: How a month of war on Iran has remade the world economy
It's not easy being the world economy right now. One month into the US and Israeli war on Iran, the shock is upending everything from supply chains to air travel. As the price of a barrel of oil settles in at north of $100, up from $70 before the…
Four weeks of Iran conflict: Here's what has happened to oil markets
Iran has effectively shut down the strait, blocking thousands of tankers from entering or exiting the Persian Gulf, preventing tens of millions of barrels of crude and other oil products from passing through daily. Roughly 20 million barrels passed…
Oil on track for record monthly surge as Iran war disrupts markets
The Brent crude oil price is on track for its biggest monthly gain on record in March after the Iran war caused mayhem in the markets. Brent crude, the international benchmark, has climbed by 51% since the start of March, LSEG data shows, beating…
Oil prices rise again as the Iran war enters its 5th week
Oil prices rose on Sunday as some Middle East officials gathered in Islamabad to discuss de-escalation efforts to end the US and Israel's war on Iran. Brent oil reached $115.73 a barrel when markets reopened, a $3 increase from its Friday high of…
Britons turn to solar power to 'insulate' against oil and gas chaos, says E.On
War in the Middle East is prompting Britons to turn away from fossil fuel-driven power, as E.On revealed a spike in solar panel sales over recent weeks. The electricity supplier said solar sales were up by 62% this month, compared with the previous…
Philippine oil refiner Petron buys Russian crude, eyes alternatives
Petron Corp., the Philippines' only refiner, has procured 2.48 million barrels of crude oil from Russia as the Southeast Asian nation scours the world for alternative suppliers to support domestic energy needs with the war in Iran raging.
Oil Prices Rise Above $100 a Barrel
U.S. oil futures opened trading Sunday evening by rising above $100 a barrel, adding to a late Friday rally driven by fears of a prolonged war in the Middle East. U.S. oil futures have risen about 50% since the U.S. and Israel began bombing Iran…
NSE Launches Dated Brent Crude Oil Futures: What It Means for Investors
The National Stock Exchange (NSE) is set to launch Dated Brent Crude Oil futures, providing investors with a new avenue for hedging and participating in the global oil market. The NSE will introduce Dated Brent Crude Oil (Platts) futures trading…
Airlines suspend unprofitable flights on oil price hikes
Major airlines in Korea are scaling back international routes, as surging oil prices and the strengthening dollar erode their profitability at a rapid pace. The move is evident particularly from low-cost carriers (LCCs) — most of which have…
The Iran Conflict Is Sending Oil Prices Soaring -- These 3 Energy Stocks Are Built to Profit
Oil prices have soared this year due to the war with Iran. Brent, the global oil benchmark, has surged from $60 to more than $100 a barrel, an over 70% gain. Crude prices will likely continue to rise the longer the war rages, as it directly impacts…
Oil Gains as Houthi Attacks Raise Fears of Iran War Escalation
Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears of escalation and threatening further tumult for energy markets. Brent — on track for a record monthly…
The Best Oil Stock to Buy as Iran Tensions Rewrite the Global Energy Map
As tensions in Iran continue to escalate, the world is entering what could be the most serious energy crisis in decades. The Strait of Hormuz is mostly closed right now, and that's a serious problem because roughly 20% of the world's oil and…
Oil seen rising to start the week
Oil futures look set to move higher when trading begins Sunday evening. WTI futures (CL1:COM) (USO) rose above $102/bbl in weekend trading on IG, which offers spread betting and contracts for difference. WTI closed at $99.64/bbl on Friday.
Oil tycoon heir ordered to pay $1bn as attack left child in wheelchair
WARNING: GRAPHIC CONTENT An oil heir who permanently disabled his two-year-old stepson in a frenzied attack has been ordered to pay more than $1 billion in compensation. Charles Edwin Brooks Jr, the great-grandson of a Humble Oil investor, was…
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