Browsing: Brent

Oil prices rose as escalating military exchanges between the US and Iran and renewed tensions surrounding the Strait of Hormuz heightened fears of disruptions to global crude supplies.

Brent and US West Texas Intermediate (WTI) climbed as the oil market extended its weekly rally on renewed geopolitical tensions in the Middle East and concerns over disruptions to crude flows through the Strait of Hormuz.

Oil market posts weekly losses as progress toward a US-Iran ceasefire agreement eases concerns over potential supply disruptions through the strategic Strait of Hormuz.

Brent crude prices rose on Tuesday following US military strikes targeting Iran, underscoring the fragility of ongoing diplomatic efforts toward a possible agreement.

Oil prices rose on Monday as efforts to balance the global demand and supply equation continued to yield less favourable outcomes, with US President Donald Trump’s ‘clock is ticking’ warning to Iran.

Crude oil prices plunged on Wednesday, with Brent crude falling by about 10% as reports of a potential agreement between the US and Iran raised expectations of easing geopolitical tensions.

With Brent trading at $96 per barrel, oil prices declined on Wednesday, driven by easing supply concerns following US President Donald Trump’s remarks on negotiations with Iran.

Brent crude rose to $114 per barrel as oil prices increased on Thursday after Iran launched attacks on energy facilities in the Middle East amid ongoing tensions with the US and Israel.

Brent rose by 4% on Tuesday as the Strait of Hormuz Lockdown stoked pressures on the supply side. Oil prices increased on Tuesday

Oil prices surged on Thursday, with Brent crude approaching $100 a barrel following reports of an attack on two oil tankers near Iraq’s Basra port, raising concerns about potential supply disruptions in the Middle East.