… iddle East Gulf producers rose by 4.4 million bpd in September to around 75% of prewar levels. “While there is little concrete evidence of a near-term peace deal, oil continues to find its way to buyers through alternative routes and logistical arrangements,” said Phillip Nova …
… of Hormuz on Monday, causing further disruptions to oil supplies and forcing traders to seek alternative crude shipments. “The oil market is no longer pricing just the risk of war; it is increasingly pricing the cost of an unresolved war,” said Priyanka Sachdeva, Phillip Nova …
… e and that is unlikely to be resolved quickly … Iran also understands the importance of its geographical position and the leverage that the Strait of Hormuz provides, so the risk of prolonged uncertainty remains,” said Priyanka Sachdeva, head of market insights at Phillip Nova …
… have now rebounded almost completely from the lows seen in early August, as hopes for a more permanent resolution between the U.S. and Iran have faded and geopolitical risk premiums have returned to the market,” said Priyanka Sachdeva, head of market insights for Phillip Nova …
… Although tanker traffic has continued through the Strait of Hormuz and the Red Sea, higher security risks have boosted freight costs and insurance premiums to embed a significant geopolitical risk premium in oil prices, said Priyanka Sachdeva, analyst at Phillip Nova. …
… Brent had gained almost $1 earlier in the session, and both contracts remained close to one-month highs. “Geopolitical risks remain firmly supportive for oil, but after a strong rally, traders are adopting a wait-and-watch approach,” Phillip Nova senior market analyst Priyanka …
… Any meaningful blockage of tanker traffic, prolonged reduction in vessel movements, or disruption to export flows would likely trigger another leg higher in oil prices,” said Phillip Nova analyst Priyanka Sachdeva. …
… The latest attacks shifted traders’ focus back toward war risks and potential supply disruptions, said Priyanka Sachdeva, senior market analyst at Phillip Nova. …
… ement since the war began. “From a broader perspective, oil markets have remained stuck between diplomacy and disruption for more than two months, with investors’ emotions being manipulated by headlines almost daily,” said Priyanka Sachdeva, senior market analyst at Phillip Nova …
… me analysts attributed the slight drop in oil prices on Tuesday to profit-taking moves. “The recent dip does look like a bit of profit-taking after a strong run-up, rather than a structural shift in the backdrop,” said Priyanka Sachdeva, a senior market analyst at Phillip Nova …
Brent crude and WTI futures fell more than 1% on Thursday as investors weighed risks to supply from attacks on shipping in the Strait of Hormuz against US efforts to ease sanctions on vessels transporting oil. Attacks in the waterway have surged over the past 10 days, with Iran saying it is stepping up strikes in response to the US blockade of its ports and tougher sanctions introduced last month.
Brent crude and WTI futures fell more than 1% on Thursday as investors weighed risks to supply from attacks on shipping in the Strait of Hormuz against US efforts to ease sanctions on vessels transporting oil. Attacks in the waterway have surged over the past 10 days, with Iran saying it is stepping up strikes in response to the US blockade of its ports and tougher sanctions introduced last month.
Oil prices extended gains on Wednesday following overnight strikes between the U.S. and Iran, with Brent crude rising 0.8% to $95.40 a barrel and WTI climbing 0.5% to $90.66, as concerns over supply disruptions through the Strait of Hormuz intensified.
Oil prices fell on Thursday, extending losses, on expectations that talks between Iran and Qatar might reopen the Strait of Hormuz and reduce supply disruptions from the Middle East conflict. Brent crude fell 0.5% to $87.43 a barrel, marking a fourth consecutive day of declines, while WTI crude dropped 0.5% to $81.86.
Brent crude rose to $89.40 per barrel and West Texas Intermediate crude to $82.83 as US-Iran peace talks stalled and tanker traffic through the Strait of Hormuz slowed following attacks on vessels and infrastructure. Both contracts gained more than 5% the previous week following attacks on tankers operated by Abu Dhabi National Oil Company and a Saudi Aramco refinery.
Brent crude fell $1.03 to $88 a barrel and U.S. WTI slipped $1.50 to $82.09 on Friday, despite rising Middle East tensions, as increased supplies flowed through the Strait of Hormuz and other maritime chokepoints. Both benchmarks are set to rise about 20% for the month.
Oil prices dipped on Thursday after initially rising, as traders took profits and evaluated risks from fresh U.S. strikes on Iranian military installations and threats of further supply disruptions in the Strait of Hormuz. Brent crude fell 0.28% to $84.95 a barrel and U.S. West Texas Intermediate dropped 0.19% to $79.45, though both remained near one-month highs as geopolitical tensions persisted.
Oil prices rose nearly 3% on Tuesday to their highest in four weeks after the U.S. reimposed a naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, with Brent crude reaching $84.80 per barrel and U.S. West Texas Intermediate rising to $79.84. The escalation has injected fresh risk and uncertainty into energy markets.
Oil prices climbed Wednesday after the U.S. military struck Iranian targets in response to the downing of a U.S. Apache attack helicopter, and as U.S. crude stockpiles posted another large draw. Brent futures rose 0.7% to $92.11 a barrel and U.S. West Texas Intermediate crude climbed 0.7% to $88.80.
Brent crude and U.S. West Texas Intermediate each gained 0.8% on Thursday, rebounding from Wednesday's 7% slump as investors weighed the likelihood of a Middle East peace deal. Peace negotiations are expected to continue until next week's U.S.-China summit, with analysts indicating oil prices will likely remain elevated.
Oil prices eased more than 1% on Tuesday after the U.S. Navy launched an operation to loosen Iran's closure of the Strait of Hormuz, with a U.S.-flagged vessel successfully exiting the Gulf with military escort. Brent crude fell to $113.22 per barrel and WTI crude to $104.40, though analysts cautioned the escorted passage remains a limited event rather than full reopening.