Brent crude prices climb above $90 per barrel as renewed U.S.-Iran hostilities in the Middle East raise concerns about disruptions to oil flows through the Strait of Hormuz. Multiple reports say U.S. and Iran exchange strikes, with additional attacks affecting maritime activity and increasing worries over shipping security. Brent futures rise to around $90.19–$90.63 during Monday trading, with one outlet citing a move of about 2% higher on the day and the contract reaching its highest level since mid-June. Several sources also highlight broader market momentum: Brent gains roughly 15.9% over the prior week, its biggest weekly advance since April, reflecting investor expectations of tighter supply conditions. Alongside Brent, West Texas Intermediate (WTI) also increases, with at least one report putting the front-month U.S. contract near the mid-$80s earlier in the week and another citing WTI around $90. Related reporting references attacks that involve or impact tankers and notes that Hormuz handles about one-fifth of global oil trade. Analysts quoted by outlets warn that if escalation continues, inventories could be pressured and prices may rise further.
Brent crude rises above $90 as U.S.-Iran tensions threaten Strait of Hormuz shipments
Brent crude prices climb above $90 per barrel as renewed U.S.-Iran hostilities in the Middle East raise concerns about disruptions to oil flows through the Strait of Hormuz. Multiple reports say U.S....
- Brent crude futures trade above $90 per barrel, reaching the highest level since mid-June in the reported sessions.
- Prices rise amid renewed U.S.-Iran strikes and escalating hostilities in the Middle East.
- Market concern centers on potential disruptions to oil shipments through the Strait of Hormuz, a key global shipping route.
- WTI also increases alongside Brent, with reported gains on the same news-driven backdrop.
- Several outlets cite strong weekly gains for Brent (about 15%–16%) leading into the move above $90.
Oil prices saw a slight increase on Tuesday after significant Monday losses. Supply risks in the Middle East resurfaced as diplomatic hopes faded. Shipping activity through the Strait of Hormuz has slowed following reported attacks. Experts predict higher crude prices if disruptions persist for extended periods. Analysts anticipate oil prices to cool down as supply outside conflict zones expands.
1 month agoUS crude is projected to average $80.14 a barrel, compared with June's estimate of $79.49.
1 month agoThe price of benchmark Brent crude climbed past $90 per barrel on Wednesday after a renewed round of US-Iran hostilities shattered a days-long lull in fighting and the Houthis targeted Saudi oil exports.
1 month agoOil prices surged over seven percent on Wednesday amid renewed Middle East military actions. This rally was also supported by industry data showing a drawdown in US crude inventories. Renewed strikes involving the United States and Iran-backed groups reignited supply concerns. Disruptions continued to affect shipping through the Strait of Hormuz and Bab el-Mandeb. Analysts expect oil prices to remain volatile in the near term due to ongoing conflict.
1 month agoOil prices extended gains after Trump's warning of a strong military response, as investors weighed the risk of prolonged disruptions to crude exports from the Gulf region.
1 month agoBrent crude prices fell below $100 a barrel after surging on Middle East tensions, while global markets steadied amid easing supply fears.
1 month ago
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