Oil Prices News

Oil prices edged lower on Thursday but held near the highest since mid-June as the Iran war escalated, with Tehran asking Yemen's Houthi movementto be prepared to close the Red Sea oil export route.Brent crude futures were down 19 cents, or 0.2%, to $84.76 a barrel by 11:25 a.m. EDT. U.S. West Texas Intermediate futures were down 17 cents, or 0.2%, to $79.43 a barrel. At their session highs, both contracts were up more than 1%.On Wednesday, Brent futures settled at their highest since June 12…

Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.The return of U.S. sanctions this week risks leaving Tehran with more cargoes searching for buyers just as shipments arrive in Asia.In recent weeks, independent Chinese refiners based in the eastern oil hub of Shandong, known as teapots, bought 16 million to 20.5 million barrels of crude from Qatar…

Oil prices eased on Thursday after earlier gains as markets assessed the escalating conflict between the U.S. and Iran and its implications for efforts to end the war and fully reopen the Strait of Hormuz.Brent crude futures were down 11 cents, or 0.1%, to $77.91 a barrel at 1322 GMT. U.S. West Texas Intermediate crude futures dropped 38 cents, or 0.5%, to $73.14 a barrel.Brent and WTI crude futures hit their highest levels since June 22 on Wednesday.Still, New York Federal Reserve…

Oil prices jumped nearly 5% on Wednesday, hitting a two-week high after U.S. President Donald Trump warned Iran that the United States will likely engage in additional strikes on Wednesday night after attacks the previous day, adding that they might take over Kharg Island as well.Brent crude futures were up $3.81, or 5.14%, to $77.97 a barrel at 1339 GMT, while U.S. West Texas Intermediate crude climbed $3.36, or 4.77%, to $73.80 a barrel. The benchmarks hit their highest levels since June 22 earlier in the session.Both rose about 3% on Tuesday after the U.S.

Oil prices fell more than 1% to a four-month low on Thursday as concerns over supply disruptions eased after mediator Qatar said Iran and the U.S. made progress in talks over ending the four-month war that shut the key shipping through the Strait of Hormuz.Brent futures were $1.03, or 1.44%, lower, at $70.54 a barrel at 10:54 a.m. CDT (1554 GMT). U.S. West Texas Intermediate crude fell 92 cents, or 1.34%, to $67.66 a barrel. During the session, both benchmarks hit their lowest…

Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.Brent futures were down 95 cents, or 1.30%, to $72.00 a barrel at 0119 GMT. U.S. West Texas Intermediate crude was down 54 cents, or 0.78%, at $68.96 a barrel — its lowest since February 27."The negotiations that are currently taking place in Qatar are perceived as being positive (and) that has allowed prices to drift further…

Oil prices gained more than 1% on Monday after attacks by the U.S. and Iran underscored the fragility of their interim peace deal, while cautious hopes of a continued recovery in energy shipping through the Strait of Hormuz limited gains.Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after the tit-for-tat weekend strikes threatened to derail the accord.Brent crude futures were up 90 cents, or 1.25%, at $72.89 a barrel by 11:36 a.m. EDT (1537 GMT). U.S.

Physical crude oil cargoes are selling at steep discounts around the world, changing trade flows as markets come under pressure from fast-rising Middle Eastern supply with Iran set to boost sales following a temporary reprieve from U.S. sanctions.The discounts, the biggest in years in some cases, follow the signing of a 60-day interim deal between the U.S. and Iran aimed at ending the war that began on February 28. The agreement has allowed some shipping to resume in the Strait of Hormuz…

Oil prices fell 4% on Monday after U.S. Vice President JD Vance said progress has been made in talks with Iran and that the Strait of Hormuz was open, easing supply concerns.Brent crude was down $3.18 or 3.95%, at $77.39 a barrel by 11:44 a.m. ET (1544 GMT) Prices had climbed to $82.30 at the start of trading because of threats from U.S. President Donald Trump to restart the war on Iran, as well as an announcement from Tehran that it had again closed the Strait of Hormuz.U.S.

Brent crude ticked slightly higher on Friday but was still on track for a more than 8% weekly decline after Israel and Hezbollah agreed to a ceasefire and tanker traffic through the Strait of Hormuz increased.Brent crude futures were up 20 cents, or 0.25%, at $80.05 a barrel by 10:55 a.m. ET, while U.S. West Texas Intermediate crude was up 25 cents, or 0.33%, at $76.85 per barrel.Trading volumes were light due to a U.S. federal holiday.Oil shipments through the Strait of Hormuz picked up on Friday after the signing of the deal…

Spot premiums for crude and some refined products in Asia, Europe and Africa have fallen back following a U.S.-Iran deal to end the Middle East conflict, though caution about how soon normal shipping can resume is providing a floor for oil markets.Prices tumbled across the board on Monday after U.S. President Donald Trump said a preliminary agreement had been signed. Details, however, have not been made public and both the U.S. and Iran said a permanent truce is yet to be negotiated.Middle East crude benchmark Dubai's premium to swaps returned to pre-war levels of $2.06 per barrel on Monday.

Oil futures fell more than 2% on Friday, closing out their steepest weekly decline since early April as traders awaited word that the U.S., Israel and Iran had reached agreement on a ceasefire.Brent crude futures for July, which expired on Friday, settled at $92.05 a barrel, down $1.66, or 1.8%. WTI U.S. oil futures Reutersfinished at $87.36 a barrel, down $1.54 or 1.7%."Obviously, the market thinks the ceasefire will be all easy-peasy and is done and dusted," said John Kilduff, partner with Again Capital.The three-month war between the U.S.

Oil prices were up 3% on Thursday after Reuters reported that Iran's Supreme Leader has issued a directive that the country's near-weapons-grade uranium should not be sent abroad, denting hopes for a swift resolution to the U.S.-Israeli war on Iran.The report, citing two senior Iranian sources, signaled that Tehran is hardening its stance on a key U.S. demand. The directive from Ayatollah Mojtaba Khamenei could further complicate negotiations and frustrate U.S. President Donald Trump’s efforts to broker an end to the war.Brent crude futures gained $3.07…

Oil prices gained more than 3% on Friday, climbing more than $3 a barrel, after comments by U.S. President Donald Trump and Iran's foreign minister further dented hopes of a deal to end ship attacks and seizures around the Strait of Hormuz.Brent crude futures gained $3.35, or 3.17%, to $109.07 a barrel by 12:34 p.m. CDT (1734 GMT). U.S. West Texas Intermediate futures were up $3.85, or 3.81%, at $105.02.Over the week, Brent has climbed 7.72% and WTI 10.11% on uncertainty over the shaky ceasefire in the Iran war."The tone between the U.S.

Hopes for a peace deal with Iran dwindled on Tuesday after Donald Trump said a ceasefire was "on life support" as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands the U.S. president described as "garbage".Iran has called for an end to the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also emphasised its sovereignty over the Strait of Hormuz, demanded compensation for war damage, and an end to the U.S.

Brent crude futures jumped as much as 3% on Friday, a day after the U.S. and Iran traded air strikes, with traders fretting over the future of the cease-fire and shipping in the Strait of Hormuz.Brent crude futures was at $101.47 a barrel, up $1.41 or 1.41% by 10:51 CDT (1551 GMT), after rising as much as 3% earlier in the session. U.S. West Texas Intermediate (WTI) futures was at $95.71 a barrel, up 90 cents, or 0.95%.Both contracts were still set for weekly declines of more than 6%."We're still playing the headline-o-rama game," said Phil Flynn, senior analyst with Price Futures Group.

Norwegian Cruise Line cut its annual profit forecast on Monday, as the cruise operator battles surging fuel costs linked to the war in the Middle East and tepid demand for its sea voyages, sending its shares down 7% in morning trading.Global oil prices surged above $100 a barrel after U.S. and Israeli strikes on Iran led to the closure of the Strait of Hormuz. More than $50 billion worth of crude oil supply has been lost since the start of the war, according to Reuters calculations as of mid-April.Rivals Carnival and Royal Caribbean have also highlighted potential hits from rising fuel costs…

Royal Caribbean cut its annual earnings forecast on Thursday, even after reporting a better-than-expected quarterly profit, as surging fuel costs linked to the Iran war weighed on the cruise operator.Still, its shares jumped 6% as demand for its vacation destinations remained resilient. Bookings for high-margin Mediterranean itineraries, which had softened due to geopolitical tensions, have now rebounded and are running at a higher pace than the same time last year, the company said.Royal Caribbean's efforts of investing in diverse offerings such as private islands and new cruise itineraries…

Wall Street stock indexes edged up, oil prices tumbled and the dollar's safe haven appeal waned on Tuesday as investors looked past a U.S. blockade on Iran's ports to the prospect of an eventual resolution to the conflict.Negotiating teams from the U.S. and Iran could return to Islamabad this week, four sources said, days after talks - held at the highest level between the two sides since the 1979 Islamic Revolution - ended in the Pakistani capital without a breakthrough.U.S.

Oil prices zig-zagged between negative and positive territory on Friday as traders weighed supply disruptions against the potential restart of peace talks between the U.S. and Iran that could help limit those disruptions.Prices rose 2% earlier in the day on fears of renewed military escalation in the region after Iran released footage on Thursday of commandos boarding a cargo ship in the Strait of Hormuz, and as progress stalled on re-opening the key waterway.Crude futures then…

Reopened Middle East shipping and plummeting oil prices on Friday boosted bets the Federal Reserve may begin cutting interest rates as soon as December, but its policymakers still face a tangled outlook ahead of their April 28-29 meeting.Iran's announced reopening of the Strait of Hormuz pushed oil below $90 a barrel for the first time in more than five weeks, but U.S. central bank officials will now need to assess how much damage the seven-week conflict has done to underlying price trends…

Iran said on Thursday it would respond with "long and painful strikes" on U.S. positions if Washington renewed attacks, and also reasserted its control over the Strait of Hormuz, complicating U.S. plans for a coalition to reopen the waterway.Two months into the U.S.-Israeli war with Iran, the vital sea channel remains closed, choking off 20% of the world's oil and gas supplies. That has sent global energy prices surging and heightened concerns about the risks of an economic downturn.Efforts to resolve the conflict have hit an impasse…

Oil prices pared gains on Tuesday after briefly climbing above $100 a barrel following an announcement from U.S. President Donald Trump that he was extending a ceasefire with Iran until Tehran submits a proposal.Brent crude futures were volatile, settling up about 3% on Tuesday and then climbing further to rise more than 5% to a session high of $101.15 after reports that U.S. Vice President JD Vance had called off his trip to Islamabad for peace talks with Iran.Prices later retreated…