Tag: “Geopolitical”

Oil prices climbed on Tuesday after the U.S. reportedly struck Iran’s Qeshm Island late Monday, one day before the midterm elections.

Oil prices fell sharply early on Monday amid reports that both the U.S. and Iran are seeking diplomatic options to bring an end to the Middle East conflict.

Iran said four tankers struck mines in the Strait of Hormuz and Yemen’s Houthis claimed missile strikes on Saudi Arabia, escalating pressure on two fronts as the U.S. reportedly weighs renewed military action against Tehran after Tuesday’s midterm elections.

Oil prices fell on Monday as diplomatic efforts to ease the U.S.-Israeli war with Iran tempered fears of further supply disruptions, although Houthi attacks on Saudi Arabia kept geopolitical risks elevated.

Oil prices jumped by more than $2 on Wednesday after Iran said there was little reason to expect ‌diplomatic progress with the US, leaving the Brent benchmark hovering near five-month ‌highs, with further market support from falling US crude and product inventories.

Iran’s proposal to the U.S. to reopen the Strait of Hormuz within seven days still stands, Foreign Minister Abbas Araqchi told local media outlets on Sunday.

Russian President Vladimir Putin has reportedly floated a three-way summit between himself, U.S. President Donald Trump and Chinese President Xi Jinping to negotiate an end to the war in Ukraine, without Ukrainian President Volodymyr Zelenskyy at the table.

Crude oil prices rose Monday after a deadly attack on Saudi Arabia’s airport in Riyadh, while Ukraine said Russia continued to attack its energy facilities. Brent crude futures, the international benchmark, were up 2% to $106.81 a barrel by 8:45 a.m.

Oil prices fell on Friday as Middle East supply concerns eased after President Donald Trump said the US would not attack Iran before ​midterm elections next month, amid productive talks to end their war that has disrupted ‌global energy markets.

Russia has launched a widely anticipated attack on Ukraine’s power grid, hitting key facilities in Kyiv and other major cities across the country, marking one of the biggest energy assaults in months.

Oil prices jumped on Monday after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the Middle East conflict and reopening the strategically vital Strait of Hormuz. International benchmark Brent crude futures with November expiry traded 4% higher at $108.48 per barrel.

Iran’s Foreign Minister Abbas Araghchi has proposed reopening the strategically vital Strait of Hormuz and resuming nuclear talks with the U.S. within seven days if the Trump administration accepts its conditions.

Iran’s military on Wednesday described U.S. President Donald Trump’s threats to annihilate Tehran as “a sign of strategic desperation,” warning the country stands ready to inflict strikes “more crushing” than earlier in the nearly seven-month conflict.

Iran has suggested it could reopen the strategically vital Strait of Hormuz within seven days if the U.S. eases military pressure and lifts its blockade on Iranian ports, according to media reports.

Donald Trump pressed his Ukrainian counterpart Volodymyr Zelenskyy in a call on Sunday to halt Kyiv’s strikes on Russian refineries over concerns that the attacks are exacerbating a global diesel shortage and pushing up prices, according to people familiar with the call.

U.S. President Donald Trump’s administration has approved the potential $24.3 billion sale of nearly 50 F-35 warplanes to Saudi Arabia.

Oil prices rose sharply on Monday after more Houthi attacks on Saudi Arabia, as well as a postponed talks between Gulf countries and Iran over the Strait of Hormuz, drove worries over prolonged Middle East shipping disruptions.

U.S. President Donald Trump has urged Ukrainian President Volodymyr Zelenskyy to stop targeting Russian oil refineries, saying the attacks are “hurting the world” as fuel supply disruptions from the Ukraine and Iran wars propel U.S. diesel prices to a record high.

Oil prices rose on Monday, extending sharp weekly gains, as U.S. and Iranian attacks on vessels in and around the Strait of Hormuz heightened fears of prolonged disruptions to crude supplies through the key waterway.

Some Chinese rare earth suppliers are declining to ship to the U.S. for fear of repercussions from Beijing, three sources said, ​underscoring how access to the materials remains an issue for the U.S. weeks before President Xi Jinping visits Washington.