Tag: Iran

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.

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.

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.

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.

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.

Oil prices moved slightly lower on Friday as markets parsed reports that the U.S. was close to gaining access to Venezuela’s oil reserves, while focus was also on U.S.-Iran wrangling over the Strait of Hormuz.

Iran’s foreign ministry on Friday called on “all countries” not to implement U.S. sanctions against Tehran, warning that doing so would represent “complicity” in imposing the “illegal will” of the United States.

Oil prices fell more than $2 a barrel to a more than two-week low on Wednesday as talks between Iran and Oman revived hopes that the Strait ‌of Hormuz could reopen and remove shipping constraints affecting supply in the key Middle East region.

Beijing has warned the US that it would retaliate against any significant expansion of the Trump administration’s new secondary sanctions relating to Iran that hit Chinese companies.

Oil prices fell more than 3% on Tuesday, after the New York Times reported the State Department plans to return evacuated diplomats to the Middle East, in a sign the U.S. does not expect a return to full-scale war.

Countries that calculate appeasement of the regime to be a safer choice should reconsider

Iran vowed on Friday to deliver a “devastating” response to any new U.S. threats, as Washington threatened to slap historically “tough” sanctions on Tehran.