Tag: Oil

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 fell on Friday as investors weighed fresh strikes between Saudi Arabia and Yemen’s Iran-backed Houthis against signs that additional Saudi crude could reach global markets and help ease supply concerns.

Oil retreated Wednesday after a report said U.S. energy inventories rose last week, with investors assessing the latest developments in Middle East conflict and associated supply risks.

The U.K.’s annual inflation rate jumped to 3.1% in August, pushed up by surging gasoline and diesel prices.

Chief Financial Officer Frad Delco at J.B. Hunt Transport Services told investors at a Morgan Stanley conference that third-quarter earnings would be down from the second quarter.

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.

The Iran and Ukraine wars are adding pressure to an oil refining system “stretched to the limit,” the International Energy Agency warned Friday, as it once again cut its global supply and demand forecasts amid the ongoing energy shock.

OPEC on ‌Thursday lowered its forecast for world oil demand ​growth in 2026 ​to 380,000 barrels per day, ⁠a copy of ​its monthly report showed, marking ​the fifth straight downward revision.

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.

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.

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.

Παράταση της επιδότησης στο ντίζελ για τον Σεπτέμβριο αποφάσισε η κυβέρνηση σύμφωνα με πληροφορίες.

Oil moved higher Thursday after U.S. President Donald Trump vowed “economic warfare” on Iran and financial penalties for its supporters, as the United Arab Emirates said it was suspending trade with Tehran.

Oil prices have risen again after the two-month window to negotiate a peace deal in the US-Israel war on Iran expired on Monday with no end to the conflict in sight.

OPEC ‌on Wednesday lowered its forecast for world oil ​demand growth in ​2026 to 580,000 barrels per ⁠day, a copy ​of its monthly report showed, ​marking the fourth straight downward revision.

The U.S. and Iran could reach a deal on Tuesday or Wednesday to reopen the Strait of Hormuz with freedom of movement for commercial ships, Treasury Secretary Scott Bessent said in an interview.

Oil prices tumbled Monday after President Donald Trump said he called off a planned strike on Iran.

Oil prices were higher on Monday morning after the U.S. and Iran traded strikes as they contest control of the Strait of Hormuz, one of the most important trade routes for global energy supplies.