Oil prices swing on US-Iran ceasefire and threats over Strait of Hormuz access

The US Energy Information Administration raised its oil price forecasts for this year and next on Tuesday, citing rapidly declining global inventories and tight diesel supplies caused by the ongoing war with Iran, Reuters reported.The EIA now expects global benchmark Brent crude to average about $98 a barrel in 2026, an 8% increase from its previous projection, according to its latest Short-Term Energy Outlook.Oil and fuel prices have surged since the US-Israeli war with Iran disrupted shipments through the Strait of Hormuz, which handled about 20% of global oil supplies before the conflict. Iran has also targeted regional energy infrastructure in retaliation for US military strikes.Falling inventories and tight diesel supplies are expected to keep prices elevated. Brent is forecast to average about $105 a barrel in the fourth quarter, $14 above the EIA’s earlier estimate.US retail diesel prices, which reached record highs last month, are projected to remain above $6 a gallon in October before gradually declining to an average of about $4.50 in 2027.However, Middle Eastern oil production and exports are expected to recover gradually as transit through the Strait of Hormuz improves and producers increasingly use alternative export routes and ship-to-ship transfers.As supply flows normalise and inventories rebuild, Brent is expected to average $84 a barrel in 2027, $10 above the agency’s previous forecast.According to Reuters, regional oil flows have improved after Saudi Arabia resumed shipments through its East-West Pipeline to the Red Sea, bypassing the Strait of Hormuz. Exporters have also adapted to attacks on shipping and energy infrastructure through “dark transits,” in which tankers switch off their tracking systems before transferring cargo at sea.These measures helped restore Gulf oil flows, excluding Iran, to more than 81% of pre-war levels in September.As the workarounds expand, crude-production shutdowns are expected to decline from 4.5 million barrels per day in the fourth quarter of 2026 to 2.7 million barrels per day in the first quarter of 2027, the EIA said.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)

Oil prices remained above $100 a barrel on Monday as investors monitored the US-Iran conflict, while higher Middle East exports and plans by G7 countries to release oil reserves helped ease some supply concerns.Brent crude futures declined 0.52% to $101.70 a barrel. US West Texas Intermediate crude fell 0.92% to $90.27 a barrel.According to experts, a sustained fall in crude prices would require an improvement in the geopolitical situation and progress towards peace talks.Sensex Opens Over 400 Points Higher And Nifty Gains 100 Points, PSU Bank Stocks Lead RallyG7 oil reserves could boost supplyThe US has pushed European countries to release oil reserves to increase market supply. G7 countries are expected to release around 100 million barrels of oil and diesel reserves over four months, although the prospect has yet to trigger a significant decline in crude prices.Rising Middle East exports and the planned release of strategic reserves have partly offset fears of disruptions to Gulf oil infrastructure and shipping.Meanwhile, Iran has reiterated that it does not want to start a war but could escalate the situation if forced to do so. US President Donald Trump has not indicated whether Washington will pursue military action or negotiations with Iran. Iran's Parliament Speaker Mohammad Bagher Ghalibaf has said that the Strait of Hormuz would remain closed until the United States agrees to its seven demands based on the 14-point June Memoranda of Understanding between the warring countries.In September, Iranian Foreign Minister Abbas Araghchi said Tehran would reopen the Strait of Hormuz within a week if Washington accepted Tehran’s terms outlined in the June US-Iran memorandum. The plan was subsequently rejected by US President Donald Trump, who said the US already has ‘total control’ over the vital waterway.

Brent crude prices remained largely stable on Wednesday, staying above the $100-a-barrel level as uncertainty over the reopening of the Strait of Hormuz continued amid the ongoing US-Iran conflict.Brent crude was trading 0.58% higher at $103.20 a barrel, while West Texas Intermediate (WTI) crude was down 0.19% at $89.55 a barrel, according to Bloomberg data.Oil prices had fallen sharply in the previous session after signs emerged that Saudi Arabia’s crude exports from its Red Sea terminals were recovering following an attack on a major pipeline earlier this month.Sensex Opens At 72,441 And Nifty At 22,665, FII Selling Keeps Indian Stock Markets Cautious Saudi Arabia restores crude export operationsBrent futures declined 2.6% on Tuesday to settle at $102.59 a barrel, while US WTI crude futures dropped about 3.5% to close at $89.38 a barrel.Satellite images indicated a significant recovery in operations at Saudi Arabia’s Yanbu and Muajjiz terminals, according to a Kpler report. The data showed that nine tankers loaded around 12.5 million barrels of crude at Yanbu between Saturday and Monday.Exports from the terminal had been affected after a drone attack targeted Saudi Arabia’s East-West pipeline, raising concerns about potential disruptions to global oil supplies.The pipeline has since resumed operations at around 3.5 million barrels per day, according to reports citing people familiar with the matter. Its maximum capacity is estimated at 7 million barrels per day. Strait of Hormuz remains focus for oil marketsAttention continues to remain on the Strait of Hormuz, a critical route for global energy shipments, as the US and Iran engage in diplomatic efforts to resolve their prolonged conflict.Iran had proposed reopening the waterway within seven days if certain conditions were accepted by the US. However, President Donald Trump rejected the proposal, keeping uncertainty over the future of shipping through the route.Despite tensions, oil flows through the Strait of Hormuz have partially recovered. Kpler data showed that average shipments through the waterway reached 13.2 million barrels per day over seven days, around 77% of the 17 million barrels per day recorded before the US-Iran conflict.The US military continues to protect tankers from Gulf allies while maintaining restrictions on Iranian oil exports, adding to uncertainty in global energy markets.

European and US stocks traded without direction on Tuesday despite oil prices retreating from recent highs as investors weighed the prospects for increased tanker traffic through the Strait of Hormuz.

Oil prices extended gains for a second straight session on Tuesday as concerns over possible disruptions to Middle East energy supplies continued to dominate market sentiment. The impact of the ongoing US-Iran conflict outweighed indications that crude exports from the region were gradually recovering.Brent crude futures rose $1.49, or 1.4%, to $106.77 a barrel, while US West Texas Intermediate (WTI) crude increased $1.34, or 1.5%, to $93.94 a barrel. Both benchmarks had ended the previous trading session nearly $1 higher.Sensex And Nifty Begin Trading On A Muted Note, Weak Global Markets And Rising Crude Oil Prices Keep Investors Cautious US-Iran talks fail to ease market concernsOfficials from the US and Iran held separate discussions with mediators as part of renewed diplomatic efforts to end the seven-month conflict. The talks are expected to focus on a revised version of a seven-day proposal presented by Iran during the United Nations General Assembly.Despite the diplomatic engagement, uncertainty over the outcome continued to support oil prices.Iranian officials have reportedly expressed doubts over reaching an agreement before tensions around the Strait of Hormuz increase further, keeping concerns over crude supply disruptions elevated.The conflict, which began in late February following US and Israeli strikes on Iran, has increased attention on the Strait of Hormuz, a key maritime route for global oil and gas shipments. US considers diesel measures amid fuel price concernsMeanwhile, the US administration is examining measures to reduce domestic fuel prices, including allowing wider sales of red-dyed diesel, according to people familiar with the discussions.The proposal could enable certain buyers to avoid federal fuel taxes and has emerged as an alternative to imposing restrictions on diesel exports.The move follows discussions within the US government over possible steps to manage fuel costs. Market participants continue to monitor developments in both energy diplomacy and policy measures as geopolitical risks remain a major factor influencing crude prices.With uncertainty surrounding the Strait of Hormuz and the broader US-Iran conflict, oil markets remain sensitive to any developments that could affect global supply flows.

Oil rose after weekend reports suggested talks to reopen the Strait of Hormuz had stalled.

The Trump administration has reportedly been issuing ultimatums to Tehran’s trading partners, warning that continued commerce risked US sanctions.

Oil prices rose while stocks and bonds fell after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that lifted markets late last week.

Oil prices jumped more than 2.5% during the Asian trade on Monday after US President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and restart diplomatic talks, raising concerns that disruptions to global energy supplies could continue.Brent crude rose 2.65% to over $107 a barrel, while US West Texas Intermediate (WTI) crude gained 1.8% to $94 a barrel.The rise in prices followed Trump’s decision to reject Tehran’s proposal aimed at resolving the conflict and restoring shipping movement through the strategic waterway. The development has increased uncertainty over when normal oil transport operations through the strait could resume.Sensex And Nifty Slip At The Opening Bell, Global Headwinds Keep Investors On EdgeIran’s proposal and US responseIran had proposed reopening the Strait of Hormuz and restarting negotiations within seven days, subject to several conditions, including the removal of the US naval blockade on Iranian ports, easing restrictions on Iranian oil exports and a regional ceasefire.Trump rejected the proposal on Saturday, saying the conditions were unacceptable. He also said Iran had overplayed its position, according to media reports. However, Trump later told Axios that negotiations with Tehran could resume this week, suggesting diplomatic efforts may continue.Iran has maintained that a diplomatic resolution remains possible but has said reopening the waterway depends on meeting its conditions. Iranian Foreign Minister Abbas Araghchi said Tehran remained committed to negotiations while keeping its position unchanged on the reopening of the strait. Strait of Hormuz remains key oil routeThe Strait of Hormuz, which connects the Persian Gulf with the Gulf of Oman, is one of the world’s most important energy transit routes. A substantial portion of global crude oil shipments passes through the narrow waterway, making any disruption a major concern for energy markets.The ongoing conflict involving the US, Israel and Iran has affected maritime activity in the region, fuelling concerns over global oil availability. A prolonged disruption could keep crude prices elevated and increase energy costs for oil-importing countries, including India.

On Monday, oil prices surged, driven by escalating tensions in the Middle East following Iran's recent peace proposal. U.S. President Trump's dismissal of the proposal has contributed to market volatility. Both Brent crude and U.S. West Texas Intermediate saw price increases, although worries over diesel exports continue to shape market sentiment.

Oil prices jumped on Monday after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the conflict.

Oil advanced and US equity futures slipped after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, while saying negotiations may resume this week.

New Delhi: Oil prices saw a drop on Friday after reports surfaced that the United States and Iran were exploring a phased agreement that could reopen the Strait of Hormuz, easing fears over supply disruptions linked to the conflict.Also Watch: Brent slipped toward $105.6 a barrel after rising over 7 per cent over the previous two sessions, while West Texas Intermediate traded below $94, amid hopes of restored Middle East flows as discussions were reportedly taking place on the sidelines of the United Nations General Assembly.Physical markets showed acute tightness, with record premiums paid for prompt barrels at Cushing, Oklahoma, the main US storage hub, according to multiple reports.Iran Offers 7-Day Plan To End West Asia Conflict, Reopen Strait Of Hormuz And Resume Nuclear Talks With US Dated Brent has been trading at a wide premium to futures in Europe, underscoring scarce near‑term supply. Brent remains over 70 per cent higher for the year, adding to global inflationary pressure.White House informed that US President Donald Trump remained open to discussions with Iran while stressing the US would not negotiate from a position of weakness.Oil markets remain highly volatile with the US-Iran conflict approaching its seventh month. Changing expectations around the war, and speculations around Washington restricting diesel exports kept the prices volatile.Iran Threatens Neighbouring Countries Of Airport Disruption If They Support US' Aviation Sanctions Iran has maintained that it has sovereign control over the Strait of Hormuz, while the US has said the status of the waterway should revert to normalcy before the conflict and imposed a blockade on Iranian ports.Saudi Arabia on Thursday intercepted missiles headed toward Yanbu and Taif, while Iran-backed Houthi militants launched further strikes against the Arabian kingdom.Around six ballistic missiles were reportedly intercepted and Saudi cautioned that further flare-up from the Iran-backed militants in Yemen would be dealt with firmly. Meanwhile French President Emmanuel Macron said France would deploy troops to help secure a Saudi energy facility.(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Oil steadied as US and Iranian negotiators were said to be exploring a phased deal that would see Tehran reopen the Strait of Hormuz.

Oil prices extended their decline on Wednesday as markets reacted to signs of improving crude supply from the Gulf region and renewed hopes of diplomatic progress between the US and Iran.Brent crude futures dropped $1.09, or 1.1%, to $98.16 a barrel, while West Texas Intermediate (WTI) futures fell $1.50, or 1.67%, to $89.01 per barrel. Both benchmarks have declined for six consecutive sessions, reaching around two-week lows.Falling Crude Brings Relief To Indian Equities, Sensex And Nifty Open Higher As Oil Slips Below $100 US-Iran talks influence oil market sentimentInvestor sentiment improved after US President Donald Trump said his representatives Steve Witkoff and Jared Kushner had held productive discussions with Iranian mediators aimed at ending the conflict.“I think there's a lot of momentum for them to make a deal,” Trump said.Although Trump also issued strong warnings against Iran, traders focused on the possibility of negotiations moving forward. Gulf supply recovery adds pressure on pricesSaudi Arabia restarted operations on its East-West Pipeline after drone attacks forced a temporary shutdown earlier this month. The pipeline allows Riyadh to transport around 4 million barrels per day to the Red Sea, bypassing the Strait of Hormuz. Saudi Arabia also offered additional crude supplies to Asian refiners from locations outside the Strait of Hormuz.Meanwhile, Iraq said it was increasing oil exports, with shipments exceeding 3 million barrels per day. The country expects exports through Turkey to rise further.Adding to bearish sentiment, US crude inventories increased by 1.8 million barrels in the week ended September 18, against market expectations of a decline, according to industry data.

Oil prices have dropped below $100 a barrel due to Saudi Arabia restarting crude supply operations. Diplomatic efforts to resolve the US-Iran conflict have also contributed to easing market pressure. US crude inventories increased by 1.8 million barrels in the past week, contrary to analysts' expectations. Iraq is reportedly increasing its oil exports, signaling a shift in regional supply dynamics.

Brent fell toward $99 a barrel, after tumbling over the previous four sessions. Oil erased earlier gains on a report that Iran could reopen the Strait of Hormuz if the US lifted a blockade of its ports. US President Donald Trump is set to address the United Nations General Assembly in New York later, and he may meet with his Iranian counterpart, Masoud Pezeshkian. Bloomberg's Will Kennedy breaks down the situation. (Source: Bloomberg)

Oil fell below $100, heading for its longest run of declines since June, as robust flows through the Strait of Hormuz and diplomacy around the US-Iran war tamed a recent rally. Satellite data showed that Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend, with the highest number of ships seen at the nation’s main Persian Gulf port since June. Meanwhile, US President Donald Trump told Fox News he would “probably” be open to meeting his Iranian counterpart, Masoud Pezeshkian, on the sidelines of the UN General Assembly in New York this week. Trump will also hold a summit with Chinese President Xi Jinping, and may meet leaders of Persian Gulf nations. Iran’s Islamic Revolutionary Guard Corps, for its part, said it has prepared itself for a protracted war, state media reported. (Source: Bloomberg)

Rob Barnett, Bloomberg Intelligence Senior Energy and Commodities Analyst, joined Bloomberg's Paul Sweeney and Scarlet Fu to discuss the latest in oil.  Oil fell below $100, heading for its longest run of declines since June, as robust flows through the Strait of Hormuz and diplomacy around the US-Iran war tamed a recent rally. Brent, the global benchmark, fell as much as 4.2% while West Texas Intermediate futures were down over 5% to trade near $95 a barrel. Satellite data showed that Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend, with the highest number of ships seen at the nation’s main Persian Gulf port since June. It’s a sign the kingdom has pivoted back toward Hormuz after the shutdown of a key cross-country pipeline to the Red Sea earlier this month following drone attacks. (Source: Bloomberg)

Oil prices slid to their ​lowest in more than a week on Monday as investors hoped for diplomatic progress on the US-Israeli war on Iran due to this ‌week’s UN meeting and eyed a partial recovery in shipments from Saudi Arabia despite ongoing attacks by Yemen’s Houthis. Brent crude futures and US West Texas Intermediate (WTI) crude touched their lowest since September 10 earlier on Monday. The Brent contract for November was at $102.09 a barrel at 11:55am PKT, down $1.78, or 1.71 per cent, ​after settling 0.91pc lower on Friday. The WTI October contract that is expiring on Tuesday fell $1.97, or 1.96pc, to $98.33 a barrel ​following a 1.58pc drop in the previous session. “It seems that a degree of risk premium is ⁠being removed from oil prices on hopes that a diplomatic path to de-escalate the US-Iran war may arrive this week,” said Tim ​Waterer, chief market analyst at KCM Trade. “Whether that hope proves to be warranted or not is another question. Time will tell.” WTI broke ​a key psychological support at $100 a barrel while some investors may have rolled over their positions in the October contract a day ahead of expiry to November, a Singapore-based broker said. Iran and the US exchanged new threats on Sunday, although President Donald Trump said he would be open to meeting Iranian President Masoud ​Pezeshkian, who is expected to be in New York this week for the United Nations General Assembly. Iran has conveyed its conditions to mediators ​for re-engaging in negotiations aimed at ending the war with the US, Al Jazeera cited Iran’s security chief, Mohsen Rezaei, as saying in an interview ‌on Saturday. However, ⁠tensions in the Middle East remained elevated as Yemen’s Houthi rebels said they attacked “sensitive” sites in the Saudi capital of Riyadh on Saturday with missiles and drones, as well as an Aramco facility in the Red Sea city of Yanbu, a key oil export hub. On Monday, a spokesman for the Revolutionary Guards (IRGC), Hossein Mohebbi, said Iran would use new weapons and target locations not previously attacked if the US ​launched a new offensive against ​it, according to the Fars ⁠news agency. China has asked Iran to help rein in the Houthis after an appeal to Beijing by Saudi Arabia following the attacks, according to three Iranian sources familiar with the matter. The attacks by the ​Houthis on Saudi Aramco’s East-West pipeline have prompted the state energy firm to increase exports through the Strait ​of Hormuz this ⁠month and next after halting some shipments via Yanbu. “Middle East oil flows remain surprisingly strong despite the disruption to Saudi Arabia’s East-West pipeline,” JPMorgan analysts said in a September 18 note, adding that the total oil flows averaged 17.1 million bpd in the past 10 days, just 6.1 ⁠million bpd ​below the 2025 average. “The most notable pivot has come from Saudi Arabia,” the ​analysts said, as satellite data indicated Saudi oil moving through the Strait of Hormuz averaged 2.9 million bpd over the past six days, up from just 700,000 ​bpd in August.

Oil prices extended their decline on Friday, falling about 1% for the third straight session, although both major crude benchmarks continued to trade above the $100-a-barrel mark. Expectations of alternative supply arrangements from the Middle East helped ease concerns over potential disruptions.Brent crude futures dropped $1.01, or 1%, to $103.77 a barrel, while US West Texas Intermediate (WTI) futures declined $1.03, or 1%, to $100.88. Both benchmarks had ended the previous session about 1% lower.'Clean Up Your Act': US Senator Warns India, China Over Russian Oil As Sanctions Bill Heads To Trump Alternative supply routes ease crude concernsThe fall in prices came despite continued tensions in the Middle East, including strikes involving Saudi Arabia and Yemen’s Houthis. Traders are also monitoring developments related to Iran and possible diplomatic initiatives by the US.Recent concerns over supply disruptions had pushed crude prices higher, but reports of alternative transportation routes for Middle Eastern oil have reduced fears of a broader shortage. Market participants are weighing the possibility of further conflict against indications that crude supplies can continue reaching global buyers through other channels.The Middle East remains a crucial source of global oil supplies, and any prolonged disruption to production or shipping routes could significantly influence prices. Iran diplomacy remains key market factorUS President Donald Trump’s comments on possible talks with Iran have also influenced market expectations. Trump said Tehran wanted to reach an agreement but was not yet prepared."Iran wants to make a deal; they're not ready, in my opinion. We're gonna either make a good deal, or we're not gonna make a deal at all," Trump told ABC 11.Any progress in diplomatic efforts could reduce the geopolitical premium currently supporting crude prices. However, renewed tensions or failure of negotiations could keep supply risks elevated.For now, oil markets remain focused on balancing geopolitical uncertainty with signs that alternative supply routes may limit the impact of regional disruptions on global crude availability.

Oil prices rose to over $107 on Monday after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf

In recent weeks, the United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own oil exports, accelerating its economic free fall. But the war launched by the U.S. and Israel in February — intended to last a few weeks — is still far from over, and the stalemate is costly for both sides. An agreement reached in June quickly crumbled , with no sign of diplomatic progress since then. Low-level fighting persists, and the U.S. does not seem to have an exit strategy. The mounting economic pressure on Iran has yet to stoke an uprising, and if its leaders are backed into a corner, they may opt for military escalation rather than capitulation. Their Houthi allies in Yemen have meanwhile stepped up attacks on Saudi Arabia , helping to push oil prices back up. The price of a barrel of Brent crude, the international benchmark, surged above $100 this week, and diesel — heavily used in transport and farming — hit a record, potentially stoking inflation. U.S. President Donald Trump has acknowledged that gas prices are likely to stay h

Renewed hostilities amid the war with Iran stoked concerns that energy supply disruptions could last months longer, as the Strait of Hormuz – a vital maritime route for 20% of the world’s oil – is caught between the warring nations.

Oil prices spike to six-week highs as US-Iran strikes disrupt traffic in the crucial Strait of Hormuz.

Vandana Hari, Founder of Vanda Insights, says oil prices are likely to continue a slow and steady climb as the U.S. and Iran remain locked in a cycle of escalation around the Strait of Hormuz. She says crude futures are not fully reflecting the physical market tightness, pointing to diesel prices near $200 a barrel in Atlantic markets and warning of further scarcity in the coming weeks and months. Hari also says markets would remain cautious even if Hormuz reopened, given doubts over whether any de-escalation would prove sustainable. She speaks with Abeer Abu Omar on Horizons Middle East & Africa. (Source: Bloomberg)

US President Donald Trump said renewed attacks on Iran would likely be short-lived, reiterating his claim Washington controls the Strait of Hormuz after fresh fighting spiked energy prices and rekindled fears of an open-ended war. It comes as US retail diesel prices hit the highest since mid-2022. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Tom Mackenzie. (Source: Bloomberg)

Oil prices moved higher in Asian trading on Wednesday as fresh military exchanges between the United States and Iran revived concerns over potential disruptions to global crude supplies.Brent crude prices rose nearly 1.2% to $95.68 a barrel, while US West Texas Intermediate (WTI) increased around 0.9% to $91.05 a barrel. Both benchmarks have gained about $5 since hostilities resumed after a month-long period of relative calm.The latest escalation followed US strikes on Iranian military and maritime targets, including air defence systems, radar installations, shipping-related assets and communication facilities. US Strikes Iran Again After IRGC Targets Commercial Ships, American Troops In Middle East Washington said the action was in response to attacks by Iran’s Islamic Revolutionary Guard Corps (IRGC) on commercial vessels in the Strait of Hormuz and US personnel in the region.Reports suggested that the US also targeted two Iranian tankers, marking a new phase in the conflict involving energy shipping routes.Iran responded by claiming attacks on US-linked facilities in the region. Countries including Jordan, Kuwait and Bahrain reported intercepting missile or drone threats, adding to concerns over rising tensions across the Middle East.Sensex, Nifty Extend Decline For Second Straight Session, Banking, Auto And Realty Stocks Weigh On Markets Supply risks keep crude prices elevatedOil markets also received support from signs of tighter US inventories. The American Petroleum Institute reported a decline of 2.6 million barrels in crude stocks, while additional barrels were withdrawn from the Strategic Petroleum Reserve.Investors are now awaiting official inventory data from the US Energy Information Administration for further direction.The latest developments have increased fears of prolonged volatility in energy markets. The Strait of Hormuz remains a key concern for traders as it handles a significant share of global oil and gas shipments. Analysts believe further disruption to crude flows could intensify price pressures, especially as Iran faces increasing economic challenges and may rely on energy routes as a strategic tool.With diplomatic efforts showing limited progress and military tensions rising, global oil markets are expected to remain sensitive to developments in the US-Iran conflict.

Oil climbed for a third session on heightened concerns about prolonged disruptions to energy flows through the vital Strait of Hormuz after an escalation of hostilities between the US and Iran.

Oil pushed higher after the biggest gain in three weeks on Monday as fresh hostilities between the US and Iran raised concerns about prolonged disruptions to energy flows through the Strait of Hormuz.

Tanker traffic through the Strait of Hormuz has been severely disrupted amid the Middle East conflict, which recently hit the six-month mark.

Oil prices climbed in early Asian trading on Monday after fresh military exchanges between the US and Iran heightened concerns about crude supplies through the Strait of Hormuz.WTI front-month futures rose 2.47% to $85.46 a barrel, while Brent gained 2.71% to $90.49. The increase followed a US strike on two Iranian rocket launchers on Larak Island, located within the strategically important Strait of Hormuz.US-Iran Escalation Raises Hormuz RisksThe US Central Command said the strike targeted Iranian Revolutionary Guard forces that were preparing to launch rockets and deploy sea mines in the waterway. Markets Open Lower, Renewed Geopolitical Tensions And Rising Crude Oil Prices Weigh On SentimentThe latest action came shortly after US President Donald Trump said Washington had completed mine-clearing operations in the Strait and warned against further attempts to obstruct shipping.Iran responded by launching ballistic missiles and drones towards US military facilities in Jordan. Jordanian authorities said their air defences intercepted eight missiles that entered the country's airspace. Iran's Revolutionary Guard subsequently said it had targeted infrastructure and aircraft positions at two US bases in Jordan.The developments have revived concerns about whether the latest confrontation will remain limited or trigger a broader disruption to Gulf energy exports.Shipping Disruptions Keep Oil Market on EdgeBrent's return above $90 a barrel marks a significant move, although prices remain below levels reached during earlier stages of the conflict. Both benchmarks had fallen more than 4% last week. Meanwhile, commercial shipping through the Strait of Hormuz remains substantially below pre-war levels. Vessel traffic reportedly fell to around five ships a day over the weekend, while a maritime warning said another tanker had been hit by an unidentified projectile.The US has also continued its blockade of Iranian ports, with 83 commercial vessels reportedly redirected and several others disabled or boarded as of August 30.With shipping disruptions, attacks on vessels, the blockade and renewed concerns over mine deployment, traders are likely to closely monitor crude flows through Hormuz for signs of a wider supply shock.

Following a U.S. military strike on Iranian launchers in the strategic Strait of Hormuz, oil prices have surged. In retaliation, Iran launched attacks on two U.S. air bases in Jordan. Jordan's military successfully intercepted eight missiles aimed at its territory early Monday, escalating the ongoing conflict in the Middle East, now entering its sixth month. Shipping activities through the Strait of Hormuz have notably dipped due to rising tensions.

Oil prices remained largely steady on Friday. Both Brent and WTI benchmarks were set for sharp weekly declines. Stalled US-Iran diplomatic talks and uneven Hormuz crude flows influenced traders. India's MCX crude futures also traded lower on Friday. Market sentiment shifted as economic sanctions replaced military pressure.

Oil prices have declined as discussions between Iran and Qatar may pave the way for reopening the crucial Strait of Hormuz. This reopening could alleviate supply issues arising from the ongoing conflict in the Middle East. Currently, Iran and Oman are working on arrangements for overseeing this vital shipping route. Meanwhile, Qatar's prime minister is set to visit Iran to renew diplomatic conversations aimed at resolving the war.

Oil Extends Decline As Rubio Rules Out New Strikes, Iran-Oman Transit Deal Nears Finalization An IRGC spokesman has announced Wednesday that Iran and Oman have reached agreements on their share of the Strait of Hormuz and its revenues, according toTasnim news agency. So essentially the "fee" scheme has been set. There's talk of reopening the strait on an "interim" basis, Bloomberg says. "We entered into negotiations with Oman about a month ago and have reached results that have been accepted by both sides," the official said. "Agreements have been reached on the share of each country in the waters of the strait and the share of Iran and Oman in its revenues," the statement continued, while also alleging that negotiations were previously delayed only due to the US obstructing negotiations. via Reuters Tehran is still insisting on the United States lifting its naval blockade of the country's ports. However, it seems that for now at least Tehran is open to some level of negotiations, or at least seems content to see where this current period of rare calm leads. This is evident in the latest words of Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who argued Wednesday that any negotiations with the US don't equate to retreat from Iran's demands. "Negotiation, in my view, has neither intrinsic value nor is it a taboo; it is neither absolutely good nor absolutely evil," he wrote in a letter responding to more hardline critics, IRNA reports. He insisted this does not mean abandoning resistance to US-Israeli aggression. "If necessary, dialogue, too, according to this logic, is the same arena of struggle and resistance; neither a replacement for it nor a sign of retreat from it," he said. Ghaliban further suggested this is being done by the Islamic Republic from position of strength while holding on to the nation's "dignity, wisdom and interests." Meanwhile, it seems Washington is also in no mood to rush back into military action, following the Monday announcement by Scott Bessent of the Economic D-Day action against Iran, which is to including secondary sanctions on any country found not complying. On Wednesday, Secretary of State Marco Rubio told several foreign officials in recent days that "for the time being" the US is not planning to initiate any new strikes against Iran, but instead the focus is on other means of pressure, especially the sanctions initiative, Axios reports. According to more: The U.S. official said that while Rubio made clear that the U.S. isn't planning a return to major combat operations, he didn't rule out strikes if Iran attacks first. Another U.S. official said the clearing of mines from the Strait of Hormuz by the U.S. Navy is a watershed moment in the war, largely neutralizing one of Iran's main sources of leverage. Also on Wednesday, Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi confirmed their further work on the “interim framework” aimed at resuming shipping through the Strait of Hormuz, according to a joint statement. State television has indicated Iran and Oman agreed that the new transit corridor would enter through Iranian territorial waters, with part of the exit route also passing through them. The corridor will span roughly seven miles. On this and other headlines, oil prices continue to fall... Oil extends declines as Iran, Oman continue finalizing talks to reopen Hormuz Satellite image shows surge in Iraq’s Persian Gulf oil loadings A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran.#OOTT #IranWar #Tankers pic.twitter.com/TAba26mJiW — TankerTrackers.com, Inc. (@TankerTrackers) August 25, 2026 The day prior, on Tuesday, President Trump hinted that military options are still on the table. While announcing the new claim that all mines had been detonated or removed from international waters of the Strait of Hormuz, he said the US Space Force was watching "every square inch" of the Strait, and that "There is ⁠a Zero Tolerance policy ‌on mine ‌placement in full force and ​effect." But Iran is still asserting that the strait remains "closed". Tyler Durden Wed, 08/26/2026 - 09:05

Oil Dumps As Iran, Oman Push To Reopen Hormuz; Satellite Image Shows Gulf Producers Ramping Up Brent crude futures dropped for a third session as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz. Brent tumbled to $85 a barrel early Wednesday, down more than 9% for the week, while West Texas Intermediate traded around $80. Crude remains up more than 41% this year following the US-Iran conflict and ongoing disruptions at the Hormuz chokepoint. Earlier, Oman's state news agency reported that Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr Albusaidi discussed an "interim framework" establishing a temporary joint shipping corridor. Iranian Deputy Foreign Minister Kazem Gharibabadi said both countries agreed on a temporary route and intend to negotiate a permanent corridor within 30 to 60 days, according to Tasnim. No timeline has been given for when the temporary deal to reopen the critical waterway would begin. Talk of an interim deal comes as oil loadings from Iraq's Persian Gulf export terminals surged at the beginning of the week, offering one of the clearest signals yet that regional Gulf producers expect Hormuz tensions to dissipate. Satellite imagery showed seven tankers collecting Iraqi cargoes, with a combined carrying capacity of roughly 13 million barrels, according to Bloomberg. Maritime research firm TankerTrackers also reported on X, saying, "A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran." A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran.#OOTT #IranWar #Tankers pic.twitter.com/TAba26mJiW — TankerTrackers.com, Inc. (@TankerTrackers) August 25, 2026 "It seems crude is now beginning to price in a sooner rather than later peace deal," said Dennis Kissler, senior vice president for trading at BOK Financial Securities, who Bloomberg quoted. Kissler noted, "With some oil still getting through the strait, Iran and the US are more likely to be in a newer state of de-escalation as both sides are looking for an off-ramp." By now, readers know that the energy crisis is not necessarily about crude, but rather refined products, as diesel crack spreads in the US topped $100 a barrel. The good news is that, by midweek, the spread was trading around $88. Related: Diesel Crack Spread Madness Deepens As Jefferies Finds No Easy Exit From Russia's Refining Crisis Last week, veteran commodities strategist Jeff Currie detailed on X that the next commodities bull market was poised for another leg higher (read note). The latest developments in the Gulf are promising signals, but an interim framework should not be mistaken for a durable normalization of regional tanker transits through the maritime chokepoint. Previous de-escalation efforts have repeatedly broken down, often returning the region to drone attacks on tankers and short-lived military tit-for-tat bombing campaigns. Until a permanent and enforceable shipping deal is set in stone, the Hormuz risk premium is likely to remain embedded across crude and refined-product markets. Tyler Durden Wed, 08/26/2026 - 06:55

Oil prices fell for a second straight session on Wednesday 26 August 2026 as Iran and Oman discussed a temporary joint shipping corridor through the Strait of Hormuz, reviving hopes of a wider US-Iran understanding. Brent slipped toward US$87 a barrel after Monday's sanctions shock, and the reversal rippled through Latin America's oil-exporting economies and currencies. The post Oil Slides as Iran-Oman Talks Fuel Hopes of Strait of Hormuz Reopening appeared first on The Rio Times.

On Tuesday, oil prices found stability following a notable decline on Monday. Investors are currently evaluating newly imposed U.S. sanctions that aim to target Iran's economy without resorting to military force. An incident involving an oil tanker near Oman has raised concerns about shipping safety. Additionally, the U.S. has reported a significant decrease in its strategic oil reserves, marking a historical low.

Oil prices eased Friday but remained on track for a second straight weekly gain as hopes of a swift reopening of the Strait of Hormuz faded to near-zero.

New Delhi: Crude oil futures rebounded from early losses to gain more than 1 per cent on Thursday, tracking firm global trends as fresh US sanctions aimed at isolating Iran stoked concerns over possible disruptions to global oil supplies.On the Multi Commodity Exchange (MCX), crude oil for the September delivery appreciated by Rs 96, or 1.18 per cent, to Rs 8,247 per barrel.The October contract also advanced Rs 91, or 1.14 per cent, to Rs 8,097 per barrel on the MCX.Analysts said the rally marked the fifth straight session of gains for MCX crude futures, as investors weighed the impact of the latest US pressure on Iran's oil trade.Crude Futures Rise For Fourth Straight Session As Strait Of Hormuz Tensions Fuel Oil Rally Brokerage firm Kotak Neo, formerly Kotak Securities, said the market is now pricing in the risk of tighter Iranian crude flows, with the Strait of Hormuz once again emerging as a key pressure point.The gains were mirrored in international markets, with Brent crude futures for October delivery rising USD 1.95, or 2.13 per cent, to USD 93.57 per barrel on the Intercontinental Exchange.The West Texas Intermediate (WTI) crude oil for the same-month contract climbed USD 1.87, or 2.22 per cent, to USD 86.26 per barrel on the New York Mercantile Exchange.US President Donald Trump announced a fresh campaign to isolate Iran economically, warning countries and entities supporting Tehran that they could face severe economic consequences.India’s Russian Crude Imports Fall 32% In August As Rising Oil Prices Pressure Refiners In a post on Truth Social, Trump said, "I am announcing the most crushing economic operation ever taken against any country! This will be Economic Warfare and Isolation on an unprecedented scale." He added that "Any country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face tremendous economic consequences." However, the announcement came without details on the specific measures or countries that could be targeted, analysts said.The move signals a further shift in Washington's strategy towards economic pressure on Tehran after Trump paused US attacks on Iran last month following two weeks of nightly strikes, they added.Meanwhile, US Treasury Secretary Scott Bessent also said last week that Washington would step up efforts to isolate Iran economically.Kotak Neo said market participants will monitor potential supply disruptions, retaliatory action around the Strait of Hormuz and whether sanctions force further rerouting of Iranian crude flows.Any disruption to flows through the strategic shipping lane could add another layer of risk to an already sensitive oil outlook, it said. Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

Oil prices extended gains for a fifth consecutive session after US President Donald Trump announced fresh measures aimed at intensifying economic pressure on Iran and restricting its access to global financial and commercial networks.Brent crude, the global benchmark, climbed above $92 a barrel, adding to a gain of more than 5% over the previous four trading sessions. US West Texas Intermediate (WTI) crude for October delivery traded near $85 a barrel.Trump Announces Wider Economic Pressure on IranTrump described the latest measures as an unprecedented campaign of economic isolation and urged US allies to support Washington’s efforts.Iran Weighs Strikes On US Military Targets In Europe If Trump Escalates War: Report The US president warned that countries allowing banks, companies, airports or government agencies to assist Iran could face serious economic consequences. He also called for an end to activities including smuggling, cash transfers and the use of exchange houses and shipping registries to facilitate Iranian trade.The latest measures could have wider implications for the global oil market, particularly if they disrupt Iran’s crude exports. China remains Iran’s biggest oil market, making Beijing a key focus as Washington increases pressure on Tehran.Strait of Hormuz Risks Add to Oil Market ConcernsCrude prices have risen sharply this year as tensions between the US and Iran have intensified, particularly around the Strait of Hormuz, a critical route for global energy shipments.The Trump administration has increasingly emphasised economic measures over direct military action against Iran. At the same time, US naval forces continue to enforce a blockade around Iranian ports, while reports indicate that some Iranian crude is still being moved covertly through the Strait of Hormuz despite heightened risks to shipping. Trump’s announcement followed the United Arab Emirates’ decision to sever economic ties with Tehran. The UAE accused Iran of launching ballistic missiles at its territory. As an important financial and commercial centre for Iranian businesses and individuals, the UAE’s move could further restrict Iran’s access to international markets.The combination of tighter economic restrictions, risks to Iranian oil exports and continued tensions around the Strait of Hormuz has added fresh uncertainty to global crude supplies, supporting the latest oil price rally.

Oil prices have settled at elevated levels, staying above ninety dollars per barrel. Investors are weighing the unpredictable US-Iran situation and the potential impacts on shipping routes through the Strait of Hormuz. While intermittent Middle East assaults bolster market sentiment, the absence of further escalations keeps a lid on price surges. Additionally, the UAE's suspension of financial transactions with Iran has raised regional tensions.

Brent crude was above $91 a barrel as prospects dimmed for a swift reopening of Hormuz, through which a fifth of the world’s oil and liquefied natural gas transited before the war. 

New Delhi: Crude oil futures rose for the fourth straight session, increasing by Rs 57 to Rs 8,145 per barrel on Wednesday, tracking firm global trends as renewed risks around the Strait of Hormuz deepen concerns over the flow of energy supplies from West Asia.On the Multi Commodity Exchange (MCX), crude oil for September delivery traded higher by Rs 57, or nearly 1 per cent, to Rs 8,145 per barrel in 11,535 lots."MCX crude oil futures extended its gains for the fourth consecutive session as uncertainty over Middle East supplies and Strait of Hormuz shipping continued to support oil prices," Gaurav Garg, Head of Research at Lemonn Markets Desk, said.Equity Markets Open Flat Despite Crude Oil Prices Surging To $92, Investors Remain Cautious Amid Market Uncertainty The geopolitical uncertainty was equally visible in the international markets.Brent oil futures for October delivery increased by nearly 1 per cent to trade at USD 91.65 per barrel on the Intercontinental Exchange.In addition, Comex West Texas Intermediate crude for the same month contract went up 1 per cent to USD 85.65 per barrel on the New York Mercantile Exchange.Brent has held above USD 91 per barrel, for a third straight day after the 60-day ceasefire window between the US and Iran expired without an agreement, said Anindya Banerjee, Head of Commodity and Currency Research at Kotak Neo (formerly Kotak Securities).The British military's UK Maritime Trade Operations centre on Tuesday said a merchant vessel was struck by an unknown projectile while transiting the Strait of Hormuz, resulting in a crew casualty.Sensex Down 455 Points, Nifty Slips 0.4% As Iran War Concerns Keep Crude Oil Prices Elevated; India VIX Rises Analysts said the attack on the vessel has added another layer of uncertainty to an already fragile supply outlook, raising concerns over potential disruptions to the flow of crude oil and refined products through vital shipping lane.Meanwhile, Iran has laid down conditions for reopening the waterway, including the release of frozen assets, sanctions relief and lifting of the naval blockade, Banerjee said.Saudi Aramco has resorted to some ship-to-ship transfers off the UAE coast, a slower and more expensive route.The market is also flashing signs of a tightening squeeze: near-month crude is trading about USD 4 above contracts two months out, while Gulf diesel flows have fallen around 80 per cent from last year, compared with a 48 per cent decline in crude flows, he said. Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

Oil prices hold steady as Hormuz sees less activity while Iran-US talks on Strait opening stalls

Oil snapped its run of recent gains, as limited progress over a deal to end the Iran war left traders parsing how much oil is crossing the Strait of Hormuz. Francisco Blanch, Head: Commodities & Derivatives Research at Bank of America, discusses the global energy crunch and commodity outlook. (Source: Bloomberg)

Oil prices continued to climb on Wednesday, rising about 14% in a week as the Strait of Hormuz remains effectively shut and US-Iran talks show little sign of progress.

The rise in oil prices came after Trump said Iran should pay for damages he claimed it had caused over the past 50 years, while asserting that the US Navy currently controls the Strait of Hormuz

Oil prices remained elevated on Tuesday as hopes of a US-Iran agreement to end hostilities and reopen the Strait of Hormuz weakened. WTI crude was trading 0.09% higher at $82.22 a barrel, while Brent crude stood at $87.80 a barrel.Both benchmarks had gained more than 5% in the previous session, reaching their highest levels since July 31. The increase followed US President Donald Trump’s response to Iran’s conditions for a possible peace agreement, with Trump demanding compensation from Tehran over deaths linked to conflicts, attacks and protests.US-Iran Tensions Rise As Trump Rejects Compensation Plea & Issues Counter-Claims Trump later said the US had control over the Strait of Hormuz and had cleared the strategic waterway of Iranian mines. The developments reduced expectations of an immediate reopening of the route, putting renewed pressure on oil prices.Iran sets conditions for Strait of Hormuz reopeningOil prices had declined more than 7% last week after reports suggested that Iran and Oman were close to an understanding that could restore shipping through the strait. The waterway is a critical energy route, carrying around one-fifth of global oil and LNG shipments before the conflict began.Iran has said the US must lift sanctions and meet other conditions before the strait can reopen. Tehran has also maintained that compensation, an end to sanctions and a halt to military threats are among its demands.Iranian Foreign Ministry spokesperson Esmaeil Baghaei said the waterway would remain closed until the US ended what Tehran described as a naval blockade. He added that reopening would depend on conditions set by the US and Israel. No direct US-Iran talks underwayIranian Foreign Minister Seyed Abbas Araghchi said there were currently no direct negotiations between Tehran and Washington. He said intermediaries were working to restart talks but added that Iran wanted the US to address alleged violations of an earlier understanding first.Araghchi said technical discussions with Oman on alternative maritime routes through the Strait of Hormuz were nearing completion. However, he clarified that such an agreement would not automatically result in reopening the waterway.Oil markets continue to remain volatile due to concerns over possible supply disruptions. However, the current rise remains below the levels seen earlier in the conflict, when crude prices surged to $126 per barrel.

Oil prices are hovering near recent highs as prospects for a US-Iran agreement fade. On Tuesday morning, both WTI and Brent crude benchmarks experienced slight upticks. The situation is complicated by US demands for compensation, hindering the potential reopening of the crucial Strait of Hormuz. Iran insists that sanctions must be lifted for the vital waterway to function, amidst ongoing geopolitical tensions that are influencing market volatility and supply issues.

Oil held a three-day gain after President Donald Trump made sweeping new demands on Iran, clouding the outlook for a deal to reopen the crucial Strait of Hormuz.

Oil held a three-day gain after President Donald Trump made sweeping new demands on Iran, clouding the outlook for a deal to reopen the crucial Strait of Hormuz.

HOUSTON, Aug 10 (Reuters) - Oil prices settled 5% higher on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz.

HOUSTON — Oil prices settled 5 percent higher on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz. Iran also said the U.S. must lift sanctions on Tehran, and meet a number of other conditions for reopening the vital waterway, while U.S. President Donald Trump said Iran must pay compensation for "all of the people that they have killed and gravely wounded." Brent crude futures settled up $4.17, or 4.99 percent, at $87.72 a barrel, while U.S. West Texas Intermediate crude futures closed $3.95, or 5.05 percent, at $82.13. The percentage gains were the highest since July 29 on both contracts. Both benchmarks fell more than 7 percent last week on hopes that Iran and Oman were close to reaching a deal that would result in a reopening of the strait, which carried a fifth of the world's oil and liquefied natural gas before the start of the Middle East conflict in late February. Iran said it was nearing a final pact with Oman to define new shipping lanes through the strait but repeated that the U.S. must meet

US petrol prices dropped nine cents last week but could again surge if the strait closure continues, analysts warn.

Crude gains as traders watch for progress in US-Iran talks that could pave the way for a deal to secure passage through the Strait of Hormuz.

Oil prices rose more than 1% on Monday as uncertainty persisted over the reopening of the Strait of Hormuz, a crucial route for global energy shipments. At around 7:30 am IST, Brent crude was up 1.32% at $84.65 a barrel, while West Texas Intermediate (WTI) crude gained 1.04% to $78.99.The gains followed a sharp decline last week, when both benchmarks lost more than 7% amid expectations that Iran and Oman were nearing an agreement that could help restore shipping through the strategic waterway. Before the conflict, the Strait of Hormuz carried about one-fifth of the world's oil.Iran-Oman shipping agreement remains uncertainIranian Foreign Minister Abbas Araqchi said on Sunday that an agreement with Oman had reached its "final stages". According to Iran's Mehr news agency, the proposed arrangement would create new shipping routes through the Strait of Hormuz.US Employers Cut 23,000 Jobs In July As Iran War Pressures Economy; Unemployment Falls To 4.1 Per Cent However, the routes would become operational only after the United States meets conditions set by Tehran and the waterway is reopened. Iran has said its demands include compensation, the removal of sanctions and an end to US military threats.Direct talks between Iran and the US have not taken place. Araqchi said Tehran would not negotiate directly with Washington while the US was violating an interim agreement signed in June. Instead, communications between the two sides are being conducted through intermediaries, he said.The uncertainty surrounding the Strait of Hormuz has added to concerns about the security of oil shipments from the region. The waterway is one of the world's most important energy chokepoints, making developments surrounding its reopening closely watched by oil markets. Houthi attacks add to regional oil supply concernsConcerns over regional energy security have also been heightened by attacks involving Saudi Arabia. Iran-aligned Houthi rebels said on Sunday that they had targeted Saudi Aramco's Jazan refinery.Saudi Arabia's Energy Ministry confirmed that a fire had broken out at the facility. The ministry said the fire had been extinguished, no injuries were reported and authorities were handling the incident. It did not disclose what caused the blaze.The Houthis have also carried out attacks on shipping in the Red Sea and the Gulf of Aden, another important maritime chokepoint. These incidents have occurred alongside Iranian attacks on vessels in the Strait of Hormuz.

Brent crude prices rise as Tehran says critical waterway will not reopen without major US concessions.

On Monday, oil prices surged amid ongoing uncertainty surrounding the reopening of the Hormuz Strait. While Iran and Oman are closing in on an agreement for a shipping lane, Iran's demands for concessions from the U.S. linger. Adding to market tensions, Houthi rebels targeted Saudi Aramco's Jazan refinery, igniting a fire, along with numerous attacks in the Red Sea and Gulf of Aden, raising serious concerns about oil shipment security.

Oil prices continued their upward movement on Friday as markets remained concerned about possible disruptions to shipping through the Strait of Hormuz amid escalating tensions involving Iran and the US.Brent crude futures gained 99 cents, or 1.2%, to $83.48 per barrel, while US West Texas Intermediate (WTI) crude futures climbed 85 cents, or 1.1%, to $78.84 per barrel.Iran-Oman Proposal Fuels Strait Of Hormuz ConcernsThe rise in crude prices followed reports that Iran, with Oman’s involvement, was considering restrictions on vessels classified as hostile passing through the strategically important Strait of Hormuz. MCX Crude Oil Futures Plunge Over 7% To Nearly Three-Week Low As US-Iran Talks Ease Global Supply FearsThe proposed legislation under review by an Iranian parliamentary committee could prevent US, Israeli and other vessels deemed unfriendly from using the waterway. The proposal also includes penalties of up to 20% of a cargo’s value for ships violating the restrictions.The Strait of Hormuz is a crucial global energy route, handling nearly one-fifth of the world’s oil and liquefied natural gas (LNG) trade before the latest conflict intensified.Iran is also reportedly seeking transit fees of 5-7% of cargo value from vessels using the route, while Oman is discussing a possible fee of around 3%. However, the US has pushed for unrestricted shipping access without additional charges. Industry experts said implementing such an arrangement could face challenges due to existing US sanctions and restrictions related to insurance and payment mechanisms.Geopolitical Tensions Keep Oil Markets VolatileOil prices had earlier declined during the week on hopes of diplomatic progress between the US and Iran. However, renewed concerns over shipping restrictions pushed Brent crude back above the $80-per-barrel level after it briefly fell below that mark earlier.Adding to geopolitical concerns, Yemen’s Iran-aligned Houthi rebels claimed responsibility for missile and drone attacks targeting Saudi forces in the Marib and Hadramout regions.The possibility of tighter shipping restrictions comes at a time when markets are already sensitive to geopolitical risks, making crude prices vulnerable to further swings depending on developments in the Middle East.

On Friday, oil prices experienced a modest rise amid shipping uncertainties in the Strait of Hormuz. Traders exhibit caution regarding transit through this critical route. Meanwhile, US President Donald Trump hinted at a potential resolution to the ongoing conflict. Additionally, Iran and Oman are exploring new transit options for the waterway. As developments unfolded, market trends reversed previous declines.

Oil prices edged lower on Thursday as markets reacted to developments in Iran-Oman talks and assessed the possibility of a diplomatic breakthrough between the US and Iran that could end their five-month conflict and restore normal shipping activity through the Strait of Hormuz.Brent crude futures fell 37 cents, or 0.5%, to $79.08 per barrel, while US West Texas Intermediate (WTI) crude declined 53 cents, or 0.7%, to $74.69 per barrel during early trade. The decline came after reports suggested that negotiations between Iran and Oman were showing signs of progress.MCX Crude Oil Futures Plunge Over 7% To Nearly Three-Week Low As US-Iran Talks Ease Global Supply FearsMarkets Watch Iran-Oman Talks, Strait Of Hormuz DevelopmentsAccording to analysts, oil prices have moved back towards levels seen after the US and Iran reached an interim peace agreement on June 17. Investors are now closely monitoring whether ongoing discussions can result in a broader settlement. A proposed arrangement involving Iran and Oman could allow Tehran to retain control over ships entering the Gulf through the strategically important Strait of Hormuz, according to sources cited by Reuters. The proposal would represent a major concession to Iran.However, uncertainty remains as US officials have previously maintained that Washington would not accept Iranian control over a route that handles a significant share of global energy shipments. President Donald Trump has indicated that a deal to reopen the strait could be reached soon. Supply Risks Continue Amid Regional TensionsDespite diplomatic efforts, concerns over possible disruptions remain. Iran has warned Gulf nations that any fresh US military action could lead to retaliation against critical energy infrastructure across the region.Meanwhile, Yemen-based Houthi militants, aligned with Iran, claimed missile attacks on Saudi oil tankers near the Red Sea port city of Yanbu and in the Gulf of Aden. Saudi authorities have not confirmed the incidents.Analysts said continued risks to Red Sea shipping were preventing markets from fully pricing in a quick end to Middle East supply disruptions.While diplomatic progress could provide relief to oil markets, traders remain cautious as geopolitical risks and supply uncertainties continue to influence price movements.

Oil prices edged lower as investors assessed Iran-Oman talks for peace. Brent crude futures fell, and US West Texas Intermediate also declined. Market sentiment focused on diplomatic efforts to resolve tensions between Tehran and Washington. Fresh US inventory data showed crude oil stockpiles increased significantly. Geopolitical risks remain elevated with warnings of retaliatory attacks.

Oil prices experienced a minor decline on Thursday amid advancing negotiations. Market watchers are closely monitoring the prospective US-Iran peace treaty, which could enable access to the key Strait of Hormuz. While experts expect oil prices to stabilize with an uptick in supply, ongoing disruptions in essential shipping routes present potential risks for upward price fluctuations.

While Trump suggests deal could come as soon as today, Iran indicates that ongoing talks with Oman would not lead to its immediate reopeningAfter oil prices fell sharply in the last couple of days on hopes of an interim deal that would allow safe traffic through the strait of Hormuz, crude is on the rise again.Brent crude is back above $80 a barrel, rising 1% to $80.2 a barrel. Continue reading...

Oil Markets Price In An Iran Deal That Does Not Exist Yet Oil prices tumbled Tuesday as traders once again priced in a U.S.-Iran agreement before anyone had actually signed one. West Texas Intermediate was trading at $75.64 per barrel shortly before 2 p.m. ET, down $4.70, or 5.85%, while Brent had fallen $4.61 to $79.16. Both benchmarks touched three-week lows as hopes rose that an agreement could reopen the Strait of Hormuz. As reported earlier, Treasury Secretary Scott Bessent said a deal could come Tuesday or Wednesday, while Secretary of State Marco Rubio said talks involving Iran and Oman had made progress. Qatar also said diplomatic efforts were continuing. President Donald Trump went further, calling an agreement to reopen the strait and denuclearize Iran “imminent.” Iran, naturally, offered a less tidy version. As OilPrice notes, Tehran has denied holding direct talks with Washington and says it is negotiating through mediators in Oman. Iran is also seeking control over inbound shipping and visibility over outbound traffic, with the ability to intervene when it sees fit. US and Iran are finalizing a 60-day interim agreement to reopen the Strait of Hormuz, with an announcement expected tomorrow – Axios. Under the proposed deal: • Ships entering the Gulf would use the northern lane through Iranian waters. • Ships leaving the Gulf for the… pic.twitter.com/IcrptBohbu — Current Report (@Currentreport1) August 5, 2026 Actual shipping data offered little support for Tuesday’s enthusiasm. Just six vessels were tracked moving through Hormuz on Monday, down from seven a day earlier, while traffic through Bab el-Mandeb was also largely unchanged. A cargo vessel was also struck near Oman, adding another complication to the negotiations. Before the war, roughly one-fifth of global oil and gas supply moved through Hormuz. Persian Gulf producers have since been forced to slash output, and Saudi Aramco estimates the world has lost more than 2.6 billion barrels since fighting began in February. Goldman Sachs expects Brent to remain between $80 and $90 until there is either a confirmed agreement or another major escalation. Brent was already below that range Tuesday afternoon, suggesting traders may have gotten a little ahead of the diplomats. Oil has spent months whipping between peace headlines and missile strikes while physical flows remain badly impaired. Tyler Durden Tue, 08/04/2026 - 23:17

Oil prices nudged higher on Wednesday after a series of declines, as investors keep a keen eye on the diplomatic maneuvers surrounding the US-Iran standoff. Progress is reportedly being made by negotiators striving to bring an end to the conflict and restore access to the Strait of Hormuz. While US crude and gasoline inventories increased last week, there was a drop in distillate stocks.

Oil prices fell to a three-week low after the US said a deal with Iran to reopen the Strait of Hormuz to shipping could be reached "today or tomorrow".

Oil prices moved higher on Tuesday after suffering a sharp sell-off in the previous session, as investors continued to monitor the impact of the ongoing US-Iran conflict on global crude supplies. Despite renewed diplomatic efforts, concerns over potential disruptions in key Middle East shipping routes kept markets cautious.Brent crude rose 1.6% to over $85 per barrel after plunging nearly 7% on Monday to a three-week low. US West Texas Intermediate (WTI) crude also gained 1.16% to over $81 per barrel after declining more than 5% in the previous session.The rebound came after US President Donald Trump said on Sunday that further military action against Iran would be delayed as diplomatic channels remained open. MCX Crude Oil Futures Plunge Over 7% To Nearly Three-Week Low As US-Iran Talks Ease Global Supply FearsThe development had triggered Monday’s sharp fall in oil prices, as traders hoped for a possible resolution to the conflict and reduced risks to crude shipments.However, uncertainty persisted after Iran rejected Trump’s comments. Iranian Foreign Ministry spokesperson Esmail Baghaei said Tehran was not engaged in negotiations with Washington and that no meetings had been scheduled.The Strait of Hormuz remains at the centre of the dispute, as the key waterway handles a significant share of global oil shipments. The US has argued that a previous agreement required Iran to reopen the route, while Tehran maintains that it retains authority over the strategic passage. Shipping activity in the region has also remained disrupted. Several Saudi-flagged supertankers recently changed routes in the Gulf of Aden and moved towards southern Africa, while some vessels continued passing through the Bab el-Mandeb Strait.Meanwhile, traffic through the Strait of Hormuz has slowed following reports of attacks on commercial vessels. The United Kingdom Maritime Trade Operations (UKMTO) said it received a report of an incident near Oman’s Al Khasab, where a cargo ship reported being hit by an unidentified projectile.Analysts said oil markets are likely to remain volatile as traders balance hopes of diplomatic progress against the possibility of further military escalation and supply disruptions from one of the world’s most important energy regions.

Oil was steady after its biggest drop in a week, as President Donald Trump said his latest offer of talks is Tehran’s “last chance” and that he expects a full reopening of the Strait of Hormuz.

New Delhi: Crude futures tumbled Rs 550 to hit nearly a three-week low of Rs 7,563 per barrel on Monday, tracking a sharp decline in global oil benchmarks after renewed hopes of US-Iran negotiations, which eased concerns over supply disruptions from West Asia.Traders said a steep decline came after US President Donald Trump said talks with Iran would resume, easing immediate concerns over supply disruptions through the Strait of Hormuz, a critical chokepoint that carries about one-fifth of global energy shipments.President Donald Trump Confirms Fresh US-Iran Talks Begin Today, Pauses Planned Military Strike As Strait Of Hormuz & Nuclear Deal Take Centre Stage On the Multi Commodity Exchange (MCX), crude oil futures for August delivery plunged Rs 583, or 7.2 per cent, to Rs 7,530 per barrel.The contract hit its lower circuit limit during intra-day trade and slipped to its weakest level since July 14, when it had settled at Rs 7,574 per barrel on the commodities bourse.The September contract for crude futures also came under heavy pressure, falling Rs 461, or nearly 6 per cent, to Rs 7,378 per barrel amid broad-based selling by investors.According to analysts, the retreat in the domestic crude prices reflected a swift unwinding of bullish bets as market participants reassessed the risk of prolonged disruptions to crude supplies from West Asia.OPEC+ Approves September Oil Output Hike Amid Middle East Tensions And Supply Uncertainty "The August crude oil futures on the MCX resumed on a weaker note around the Rs 7,500-per-barrel level and in the intra-day trade declined to hit the lower circuit limit during the session," said Aamir Makda, Commodity & Currency Analyst, Technical Research at Choice Broking.The retreat in domestic prices tracked a broad-based selloff in global markets, with Brent oil futures for October delivery plunging USD 6.38, or 7.3 per cent, to USD 81.55 per barrel on the Intercontinental Exchange.The US-based benchmark West Texas Intermediate (WTI) also slipped below the USD 80 per barrel mark, with futures on the New York Mercantile Exchange falling USD 5.89, or nearly 7 per cent, to USD 78.78 per barrel."WTI crude oil fell sharply and slipped below the USD 80 per barrel mark as optimism over renewed diplomatic efforts with Iran reduced concerns about potential supply disruptions in West Asia," said Gaurav Garg, Head of Research, Lemonn Markets Desk.Gold, Silver Likely To Trade In Narrow Range This Week As Markets Await Key US Economic Data Analysts said the correction also eased fears that elevated crude prices would add to inflationary pressures and force global central banks to maintain higher interest rates for longer.Meanwhile, Trump said negotiations with Iran would take place on Monday but refrained from setting a deadline for a broader agreement.He indicated that he had called off an imminent military strike in the hope of resolving differences over Tehran's nuclear programme and reopening of the Strait of Hormuz.According to reports, shipping traffic through the Hormuz remained slow after attacks on commercial vessels.India, Iran Discuss Chabahar Port Plan Amid US Sanctions Uncertainty However, two Saudi oil tankers crossed the Bab el-Mandeb Strait over the weekend despite threats from Yemen's Houthis, easing immediate concerns over disruptions to global crude supplies.Even so, geopolitical risks remain elevated.Analysts said the conflict has expanded beyond the Gulf to the Red Sea and parts of the eastern Mediterranean. Iran has largely closed the Strait of Hormuz since the conflict began, disrupting one of the world's most critical energy corridors and fuelling volatility in global oil markets.Both domestic and international crude oil prices are likely to remain highly sensitive to developments surrounding the US-Iran negotiations and shipping activity throughout the Strait for fresh cues on the global supply outlook, they added.(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Oil prices tumbled more than $4 a barrel on Monday after US President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would reopen the Strait of Hormuz. Brent crude futures slid $4.49, or 5.11 per cent, to $83.44 by 0408 GMT while US West Texas Intermediate crude was at $79.77 a barrel, down $4.90, or 5.79pc. Both contracts jumped more than 20pc last month after fighting between the US and Iran resumed and as attacks on several tankers around Oman heightened security concerns, deterring shippers from entering the Gulf to load oil. In a sign of de-escalation, Trump said late on Saturday on his Truth Social platform that Iran and other Middle Eastern countries had asked for time to complete a deal that would lead to “the Immediate, Complete and Total” reopening of the vital strait and “an end to Iran’s nuclear threat”. IG market analyst Tony Sycamore says, “The bigger focus is whether this week turns into a rinse and repeat of last week with hopes of a deal collapsing as Iran digs in its heels and continues to leverage its control over the Strait, potentially through an attack on a U.S. base or a tanker transiting the waterway.” Two tankers laden with Saudi oil crossed the Bab el-Mandeb Strait out of the Red Sea over the weekend while traffic in the Strait of Hormuz slowed following reports of vessel attacks, shipping data showed on Monday. The United Kingdom Maritime Trade Operations has reported three more tanker attacks since Saturday. On Sunday, Opec+ approved an oil production quota increase of around 188,000 barrels per day from September, the producer group said, in a move that completes the unwinding of a layer of voluntary output cuts. Due to export disruptions from the Gulf, Russia and Kazakhstan caused by the Iran and Ukraine wars, successive monthly Opec+ hikes over most of this year have remained largely on paper with little impact on the market.

US President Donald Trump announces new negotiations with Iran, leading to a nearly 5% drop in oil prices. As tensions rise in the Strait of Hormuz, what does this mean for global energy supplies?

Oil prices moved lower on Friday as improving tanker activity through the Strait of Hormuz helped ease short-term concerns over supply disruptions. However, the market remained on track for one of its strongest monthly performances in years due to ongoing geopolitical tensions in West Asia.Brent crude futures declined by $1.03, or 1.2 per cent, to $88 per barrel, while US West Texas Intermediate (WTI) crude dropped $1.50, or 1.8 per cent, to $82.09 per barrel.Despite Friday’s decline, both major crude benchmarks were expected to close July nearly 20 per cent higher, reflecting continued concerns over possible disruptions to major oil transportation routes.L&T Secures Major Kuwait Oil Company Order, To Strengthen Crude Export Infrastructure Market analysts said prices retreated after shipping movements through the Strait of Hormuz showed signs of recovery, reducing immediate supply fears linked to the conflict involving the United States, Israel and Iran.The Strait of Hormuz remains one of the world’s most important energy transit routes, carrying around one-fifth of global crude oil and liquefied natural gas shipments. The waterway has been closely monitored since the US-Israel conflict with Iran began on February 28, raising concerns over possible disruptions.Although shipping activity has improved recently, traders remain cautious due to continuing instability in the region. Geopolitical concerns continue to provide support to crude prices despite the latest decline.Crude Oil Prices Down 1.7% As US-Iran Diplomacy Hopes Ease Market Concerns Saudi Arabia is spearheading efforts to create a multinational maritime security coalition to protect shipping routes across the Bab el-Mandeb Strait, the Red Sea and the Gulf of Aden, which are vital routes for global energy supplies.Saudi Arabia’s defence ministry said 14 countries, including Egypt, Pakistan, Djibouti, Sudan and Turkey, have supported the proposed initiative.The development follows a recent announcement by Iran-backed Houthi militants in Yemen about a naval blockade targeting Saudi Arabia, raising concerns over oil shipments through the Red Sea, an important alternative route to the Strait of Hormuz.Investors are also monitoring diplomatic discussions between the United States and Iran, though recent negotiations have shown limited progress towards reducing tensions.Analysts expect crude markets to remain volatile in the coming weeks as traders assess improving supply conditions against the possibility of renewed geopolitical disruptions.For now, increased traffic through the Strait of Hormuz has helped bring prices down from recent highs. However, ongoing risks to energy supplies continue to support expectations of a significant monthly gain in crude prices.

Crude oil prices edged lower on Thursday as markets assessed the impact of renewed US-Iran military tensions against reports that oil shipments through key maritime routes were continuing.Brent crude was trading around $89.46 per barrel, while West Texas Intermediate (WTI) stood near $83.54 per barrel, with both benchmarks down nearly 1% from Wednesday’s close.The decline came despite fresh military developments in the Middle East. The US Central Command announced renewed strikes on Iranian targets, describing the action as a response to attempted attacks on American forces stationed in the region.Iran had earlier launched missile attacks targeting US troops in Jordan, while US and Saudi forces carried out strikes against Iran-aligned groups in Iraq. These groups were reportedly preparing attacks on Saudi energy infrastructure.L&T Secures Major Kuwait Oil Company Order, To Strengthen Crude Export Infrastructure Additional concerns emerged after reports of a drone attack on a US-owned tanker at Egypt’s Damietta port, an important LNG terminal. Egypt confirmed the incident, with later reports suggesting that two LNG vessels were involved.However, oil traders remained focused on shipping activity and supply flows rather than the latest military escalations. Market participants noted that tankers were still moving through the Bab el-Mandeb Strait, a crucial shipping route connecting the Red Sea with global markets.According to a report by oilprice.com citing ship-tracking data, around 39 commodity carriers exited the Bab el-Mandeb Strait on Tuesday, despite reduced traffic through the Strait of Hormuz. Crude Oil Prices Down 1.7% As US-Iran Diplomacy Hopes Ease Market Concerns Analysts said continued movement of vessels through alternative routes has helped ease immediate concerns over a severe supply shock.However, risks remain elevated as attacks on Saudi energy infrastructure could create longer-term challenges for global oil supplies. Despite the recent decline, oil markets remain highly sensitive to developments in the Middle East, with traders closely monitoring military activity, shipping movements and any signs of further escalation between regional powers.

Oil prices declined on Thursday after a significant rally the previous day. Crude oil continued to move out of the Middle East despite escalating conflict. Shipping activity indicated that oil supplies were still finding routes out of the region. Military actions intensified with US-Saudi strikes targeting Iran-backed forces in Iraq. Saudi Arabia is reportedly assembling a coalition to protect Red Sea shipping from Houthi attacks.

Oil prices continued their downward trend in early Asian trading on Tuesday as markets reacted positively to the absence of fresh military strikes between the United States and Iran and growing hopes of diplomatic engagement.West Texas Intermediate (WTI) crude was trading around $80.98 per barrel, down 1.97% during the session, while Brent crude slipped 1.77% to $86.80 per barrel.The decline followed comments from US President Donald Trump, who said Washington was involved in “good talks” with Iran, raising expectations of a possible diplomatic solution to the ongoing conflict. Iranian officials also indicated that discussions were underway, although both sides maintained that military action could resume if negotiations fail.Despite the recent decline, crude prices remain elevated as concerns over disruptions to Middle East energy supplies continue. Shipping risks in the region, particularly around the Red Sea and Bab el-Mandeb Strait, remain a key concern for global oil markets.The Houthi movement’s attempts to disrupt shipping routes have increased uncertainty, especially after attacks on Saudi oil infrastructure along the Red Sea coast affected vessel movement. Crude Oil Slump Sparks Late Recovery, Sensex And Nifty End Lower For Fifth Straight SessionHowever, market participants believe the threat posed by the Houthis remains smaller compared with Iran’s influence over the Strait of Hormuz, one of the world’s most important oil transit routes.Apart from easing geopolitical concerns, signs of weaker demand are also putting pressure on crude prices. Analysts noted that elevated oil prices, including the possibility of $100 per barrel crude, have started affecting consumption patterns.'Iran Comes First': Israeli PM Netanyahu Heads To Washington For High-Stakes White House Talks With US President Trump On Middle East Security | Video Recent data from the US Energy Information Administration (EIA) showed an increase in crude inventories, along with higher stockpiles of other petroleum products. This has raised concerns that demand may be slowing due to higher energy costs.Markets will now focus on inventory data from the American Petroleum Institute (API) for further signals on demand trends and supply conditions.While diplomatic developments have provided some relief to oil markets, analysts believe geopolitical risks will remain the biggest driver of prices. Any escalation in the Middle East conflict could quickly push crude prices higher, while progress in negotiations may lead to further declines.

Oil prices hovered around a one-week low on Monday after the US and Iran paused strikes over the weekend following two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $5.85, or around 6 per cent, to $90.93 a barrel by 1:09pm GMT (6:09pm PKT). They fell as low as 9.5pc earlier in the session to $87.55 a barrel. US West Texas Intermediate crude was at $84.33 a barrel, down $4.98, or around 5.6pc and going as low as 8pc earlier in the day to $82.12 a barrel. Both contracts were trading at their lowest levels since July 20 earlier in the session. Brent had reached $100 per barrel as the conflict, which reduced oil shipments via the Strait of Hormuz, spilled over to the Red Sea, hindering exports from the world’s top exporter, Saudi Arabia, via the Bab el-Mandeb strait to Asia. The US ambassador to the United Nations, Mike Waltz, told Fox News on Sunday and other US media that President Donald Trump had decided to pause US attacks to allow more time for diplomacy. “The market seems to be forever seeking good news from an arena that really is not providing any,” said PVM analyst John Evans. “A stay of military strikes might seem an improvement, but it does not come with any guarantees that oil will soon flow from the area… prices will only continue lower if high prices once again dent demand, not questionable mini-ceasefires.” Prices pared losses throughout the day after Saudi Arabia’s air defences intercepted and destroyed drones launched from Iraq that attempted to target oil facilities in the kingdom’s Eastern Province and Riyadh and the country’s foreign ministry said they held the right to respond to the sources of “the aggression”. Yemen’s Iran-aligned Houthis also said they targeted a number of sensitive crude oil supply and transport sites linking eastern Saudi Arabia to the Red Sea city of Yanbu. Outlook uncertain with no signed framework “There’s no signed framework, no verification mechanism and no agreed timeline, as far as what we can see, it looks like the two sides have stopped shooting since Friday,” said Ole Hvalbye, market analyst at SEB Research. Fewer than 10 commodity vessels passed through the Strait of Hormuz daily during the weekend, shipping data from Kpler showed. “Flows fell to something like 15pc of pre-war levels, against a normal run rate of roughly 20 million barrels a day of crude, condensate and products. A political pause doesn’t put a single extra barrel on the water right here and now,” Hvalbye added. In addition, ship traffic through the Bab el-Mandeb strait fell on Sunday after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast, although a third Chinese supertanker exited via Bab el-Mandeb. Elsewhere, Kazakhstan, among the world’s 10 biggest oil producers, has more than halved its daily oil output following the closure of the main exporting terminal in Russia’s Black Sea over drone attacks, an industry source said on Monday. The energy ministry later said the Caspian Pipeline Consortium’s Black Sea terminal had resumed oil loadings. Some analysts are still expecting markets to be supported if crude supplies stay affected by ongoing shipping risks in the Middle East and the Russia-Ukraine war. “As the Middle East conflict widened to the Red Sea and Ukrainian drones struck Russian ships and refineries … Sustained (supply) disruption would likely keep oil prices elevated and continue to pose upside risks to global inflation,” said UOB analysts in a note. Ukraine said it hit several Russian oil sites over the weekend.

Iran says it is still in control of the Strait of Hormuz and not seeking to resume peace talks with the United States after President Donald Trump halted a two-week bombing campaign.

Oil prices tumbled on Monday as a pause in tit-for-tat strikes between the United States and Iran boosted hopes for a return to their ceasefire and negotiations on reopening the Strait of Hormuz. The post Oil prices sink as US-Iran pause fuels fresh Hormuz hopes appeared first on Vanguard News.

Oil prices tumbled on Monday as a pause in tit-for-tat strikes between the United States and Iran boosted hopes for a return to their ceasefire and negotiations on reopening the Strait of Hormuz.

Oil prices tumbled more than 6% on Monday after the ‌US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.

Oil prices tumbled more than six per cent on Monday after the US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $6.20, or 6.4pc, to $90.58 by 0620 GMT after briefly slipping under the key support level of $90 earlier in the session. US West Texas Intermediate crude was at $83.51 a barrel, down $5.80, or 6.5pc. Both contracts are trading at their lowest levels in nearly a week after rising for the past three weeks. Brent had reached $100 per barrel as the conflict, which reduced oil shipments via the Strait of Hormuz, spilled over to the Red Sea, hindering exports from the world’s top exporter, Saudi Arabia, via the Bab el-Mandeb strait to Asia. The US ambassador to the United Nations, Mike Waltz, told Fox News on Sunday and other US media that President Donald Trump had decided to pause US attacks to allow more time for diplomacy. “Oil prices fell sharply in early trading as the US and Iran refrained from further military action, offering the first tangible signs of a potential de-escalation in tensions,” said ING analysts in a client note. “The price action in oil this morning clearly reflects the market’s desperation for positive news.” Despite the pause in attacks, fewer than 10 commodity vessels passed through the Strait of Hormuz daily during the weekend, shipping data from Kpler showed. “Any rebound in flows through the Strait of Hormuz is likely to prove slow and partial, as many shippers remain wary and will want greater confidence in their safety before they bring more empty ships into the Strait,” MST Marquee analyst Saul Kavonic said. In addition, ship traffic through the Bab el-Mandeb strait fell on Sunday after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast, although a third Chinese supertanker exited via Bab el-Mandeb. However, some analysts are still expecting markets to be supported if crude supplies stay affected by ongoing shipping risks in the Middle East and the Russia-Ukraine war. “As the Middle East conflict widened to the Red Sea and Ukrainian drones struck Russian ships and refineries … Sustained (supply) disruption would likely keep oil prices elevated and continue to pose upside risks to global inflation,” said UOB analysts in a note. Ukraine said it hit several Russian oil sites over the weekend.

Oil prices tumbled Monday as a pause in tit-for-tat strikes between the US and Iran boosted hopes for a return to their ceasefire and negotiations on reopening the…

Oil prices tumbled more than 6% today after the US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.

Oil prices eased in early trading on Monday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the Persian Gulf.

Donald Trump’s decision to hold off further strikes and Iran’s progress in Oman talks over the Strait of Hormuz offer some relief.

Oil prices fell on Monday amid a pause in strikes between the US and Iran boosted hopes for a return to a ceasefire and new talks on reopening the Strait of Hormuz. The United States held fire over the weekend after 13 days of attacks on Iran, with Washington's UN envoy saying the US was "giving talks some space".

Oil prices dropped sharply as the United States and Iran held back from launching fresh strikes. This pause raised hopes that diplomacy could ease Middle East tensions and restore shipping. Brent crude futures fell significantly, trading at their lowest levels in nearly a week. Shipping through key trade routes remained subdued despite the pause in attacks. Uncertainty continues to linger over the conflict and its impact on energy markets.

After 13 days of attacks on Iran, the United States held fire over the weekend, and Donald Trump's UN envoy said the US president was "giving talks some space".

⁠⁠Oil tumbled at the week’s open after the US paused strikes against Iran over the weekend, easing energy supply risks in the Middle East even as Houthis claimed attacks against targets in Saudi Arabia.

Crude oil futures prices experienced a significant drop on Friday. Hopes for renewed peace talks between the United States and Iran emerged. Both Brent and West Texas Intermediate crude futures saw substantial weekly gains. Shipping disruptions in key waterways contributed to market volatility. Energy markets remain tight and sensitive to developing geopolitical events.

Global supply disrupted by US-Iran aggression in strait of Hormuz and Houthi threats in Bab el-MandebMiddle East crisis live – latest updatesBusiness live – latest updatesThe price of oil has breached the $95 a barrel mark for the first time in six weeks as the escalating Middle East conflict threatens further disruption to global supplies.The benchmark oil price rose sharply on Wednesday as renewed US-Iran aggression over the strait of Hormuz was compounded by Houthi threats to target vessels carrying Saudi oil through the Bab el-Mandeb strait. Continue reading...

Benchmark ​prices had earlier touched more than one-month highs on concern over disruption to shipments through the ​Strait of Hormuz

Oil prices climb above $90 a barrel after Iranian military targets two tankers in Strait of Hormuz

Brent crude prices in the spot market briefly surged to around $144 per barrel before easing as markets adjusted. Yet as ADB notes in its report - despite this unprecedented supply shock, crude oil prices did not reach levels seen during the 1973 Arab oil embargo or even the 1990 Gulf war, if one were to inflation-adjust the prices.

The United States reinstated its blockade on Iranian ports in the Strait of Hormuz and shipping slowed to a crawl amid the renewed warfare in the critical waterway.

Asia’s economies are once again staring down the barrel of the Strait of Hormuz as the latest breakdown of the US-Iran ceasefire and Washington’s decision to impose a blockade-cum-toll threaten to keep energy costs elevated and shipping flows under strain. But economists and shipping analysts say the region is better placed to absorb the blow this time round. Oil prices jumped to a one-month high of US$84.78 a barrel on Tuesday morning as renewed fighting between Iran and the US over control of...

Oil prices rose on Tuesday after U.S. President Donald Trump announced plans to impose shipping fees in the Strait of Hormuz.

Brent crude climbed above $82 a barrel Monday after Trump declared the U.S. "Guardian of the Hormuz Strait" and renewed fighting slowed tanker traffic to a trickle

Oil prices surged more than three per cent on Monday after renewed military strikes between the United States and Iran reignited concerns over energy shipments through the Strait of Hormuz. Brent crude futures were up $2.47, or 3.25pc, to $78.48 at 4:45pm PKT, while US West Texas Intermediate crude was up $2.35, or 3.29pc, to $73.76 a barrel. “The focus will remain on the number of inbound tankers as a lower number could impact production, so currently we see a risk premium but as well a disruption risk supporting prices,” said UBS analyst Giovanni Staunovo. Fresh US and Iranian strikes over the weekend fueled fears of a renewed escalation. Tehran targeted US facilities across the Gulf on Sunday and said it had again closed the Strait of Hormuz. Iran’s Revolutionary Guards said on Monday they had attacked US military bases in Kuwait and Bahrain. Some 20pc of the world’s oil and liquefied natural gas transited the strait before the war began at the end of February. “Shipping operators are adopting a cautious approach and inbound movements have slowed under heightening security concerns,” ANZ analysts said. Vessel traffic through the strait fell to a five-week low on Sunday, ship-tracking data showed. Six vessels transited the strait on Sunday, according to Kpler. The escalating attacks cast further doubt on the future of an interim US-Iranian agreement signed last month that aimed to reopen the strait and end the war after a further 60 days of negotiations. Following the agreement, global oil supply rose by 4.1 million barrels per day in June, but remained 9.4m bpd below pre-war levels, the International Energy Agency said in its monthly report on Friday. US President Donald Trump said on Sunday that the Strait of Hormuz was open to commercial traffic, although Iran declared earlier that it had closed the strait after a vessel had travelled on an unapproved route and was struck. Goldman Sachs estimated that expanding pipeline capacity in the Middle East could shield more than 60pc of pre-war Gulf oil exports from any future Hormuz disruptions by end-2028. The bank’s base-case forecast assumes pipeline capacity bypassing Hormuz will rise by 3.8m bpd by end-2027 and 7.3m bpd cumulatively by end-2028, taking total effective bypass capacity to more than 14m bpd by end-2028. Iranian oil supplies held at sea are rising after Tehran boosted exports during the interim peace deal with the US. However, sales have been slow as China’s independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar. The Abu Dhabi National Oil Company (Adnoc) set the August official selling price of its benchmark Murban crude at $80.01 a barrel, it said on Monday, down from $101.48 a barrel the month before. Elsewhere, Ukraine’s Security Service said it struck an oil depot in Russia’s Stavropol region overnight, as well as three storage tanks at an oil-loading site in the port of Kavkaz in the southern Russian region of Krasnodar.

Oil prices surged more than 4% on Monday after Iran widened its military strikes to Gulf states following fresh attacks by the United States, raising concerns over the security of energy shipments through the Strait of Hormuz.Crude oil price on July 13Brent crude futures advanced $3.34, or 4.38%, to $79.5 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $3.07, or 4.30%, to $74.20 a barrel. The latest rally comes after both benchmarks climbed 5.5% last week, with WTI once again trading above $74 a barrel. European natural gas futures also rose 2.5% after markets reopened following the weekend.Over the weekend, Tehran expanded its strikes to Qatar and the United Arab Emirates, while the United States carried out another round of attacks on Iran, marking the latest escalation in the cycle of retaliatory strikes linked to shipping through the Strait of Hormuz.The U.S. Central Command said it launched fresh strikes at 5 PM Eastern Time on Sunday, saying the action was aimed at holding Iran accountable for attacks on commercial vessels passing through the strait.Also read: US-Iran war: Oil flow through Hormuz rises after ceasefire, but fresh strikes spark fears, IEA saysThe renewed rise in crude prices comes after oil had surrendered all of its gains from the Iran conflict following the signing of a memorandum of understanding between the United States and Iran on the sidelines of the G7 summit in France last month. The agreement included provisions to end the conflict and ensure the safe passage of commercial vessels through the Strait of Hormuz.The latest flare-up now threatens efforts to rebuild depleted global oil inventories later this year, according to the International Energy Agency's statement issued on Friday, before the latest round of attacks.U.S. President Donald Trump said on Sunday that the Strait of Hormuz remains open for commercial traffic. Iran, however, had earlier declared the waterway closed after a vessel travelling on what it described as an unapproved route was struck.The latest escalation has also clouded the future of the interim agreement signed by the United States and Iran last month, which sought to reopen the strait and bring the conflict to an end after a further 60 days of negotiations.According to the International Energy Agency's monthly report released on Friday, global oil supply increased by 4.1 million barrels per day in June following the agreement. Even so, production remained 9.4 million barrels per day below pre-war levels.Read more: Global headwinds to cap rupee gains through 2026: ET PollWill prices rise further?Analysts said the market remains on edge. Nuvama Institutional Equities said a prolonged closure of the Strait of Hormuz could disrupt nearly 20 million barrels per day of crude flows. Under such a scenario, oil prices could potentially surge to between $110 and $150 per barrel. "The latest developments have effectively thrown the future of the 60-day negotiation process into doubt," Bjarne Schieldrop, chief commodities analyst at SEB, told Reuters. "In my view, a price closer to $80 a barrel is more consistent with current market fundamentals than $70," he added.Last month, Saudi Aramco Chief Executive Officer Amin Nasser warned that any prolonged disruption in the Strait of Hormuz could push back the return of stability in global oil markets until 2027. He said an extended disruption could affect nearly 100 million barrels of oil supply every week. Saudi Aramco is the world's largest oil producer.Industry experts believe normal shipping activity through the Strait of Hormuz is unlikely to resume anytime soon. They said restoring operations would require coordinated vessel movements, the restart of oil production, repairs to damaged infrastructure and agreements on de-mining efforts. Many shipowners also remain hesitant to return to the Strait of Hormuz and the wider Persian Gulf.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Oil prices spike as renewed US-Iran war threatens global supply route Oil prices have climbed by more than 3 percent as renewed fighting fuels fears of disruption to shipments through the Strait of Hormuz. Brent crude futures rose by $2.67, or 3.51 percent, to $78.68 a barrel. The Strait of Hormuz remains one of the world’s most important energy routes. About one-fifth of global petroleum liquids consumption passed through the waterway.

Global crude oil markets have been thrown into renewed uncertainty as geopolitical tensions in the Middle East escalate, following attacks on commercial vessels transiting the Strait of Hormuz. The latest tensions emerged after Iran was accused of targeting ships in the strategic waterway, triggering retaliatory strikes by the United States against Iranian military infrastructure.Reports indicate casualties and damage within Iran, while the fragile understanding that had helped ease tensions between Washington and Tehran appears to have broken down. The developments have reignited fears of a broader regional conflict, causing heightened volatility in crude oil prices. Traders, policymakers, and oil-importing nations are closely monitoring the situation, as any disruption to Gulf energy flows could significantly impact global oil markets and energy security.What Is Iran's Objective?Iran's primary goal appears to be expanding its strategic influence over the Strait of Hormuz rather than seeking outright ownership of the waterway. Tehran has long argued that it should play a larger role in regulating maritime traffic in the region and has often opposed shipping arrangements supported by the United States and its allies.The Strait remains Iran's most powerful geopolitical leverage, with nearly 20% of global oil trade passing through the narrow channel. By exerting pressure on shipping activity, Iran can strengthen its bargaining position during diplomatic or military confrontations. However, a complete closure of the Strait would also harm Iran's own economy, as the country relies heavily on Gulf shipping routes for its exports and imports. Consequently, Iran is more likely pursuing strategic influence and deterrence rather than direct control.Could the Crisis Escalate into a Wider Conflict?The possibility of a broader conflict has risen following the latest exchange of hostilities between Iran and the United States. However, a full-scale war remains uncertain because both countries would face substantial military and economic costs. The greatest risk lies in miscalculation, where retaliatory actions trigger a cycle of escalation beyond either side's intentions. Why Are Gulf Nations Remaining Cautious?Most Gulf countries are attempting to avoid direct involvement in the confrontation. Nations such as Saudi Arabia, the UAE, Oman, and Kuwait depend heavily on regional stability and uninterrupted energy exports. Publicly siding with either Iran or the United States could expose them to political and security risks.Qatar's stronger response likely reflects concerns about maritime security and regional trade flows. Any disruption in Gulf shipping routes could directly affect energy exports and commercial activity. While public reactions have been measured, many regional governments are believed to be pursuing diplomatic efforts behind the scenes to prevent further escalation.Could Oil Prices Rise Further?Geopolitical risk premiums are expected to remain embedded in crude oil prices as long as tensions persist. Any threat to the Strait of Hormuz immediately raises concerns about supply disruptions, prompting traders to push prices higher. Even when production remains unaffected, fears surrounding tanker safety, shipping insurance costs, and vessel availability can increase market volatility. Historically, geopolitical crises in the Middle East have often triggered sharp rallies in oil prices. If attacks on vessels continue or military operations intensify, Brent crude could remain supported. What Could Be the Global Impact?A broader conflict would have consequences extending beyond energy markets. Higher oil prices would increase transportation, manufacturing, and electricity costs worldwide, adding to inflationary pressures. Rising inflation could complicate efforts by central banks to reduce interest rates and support economic growth.Financial markets would probably experience greater volatility, while shipping and insurance costs could increase significantly. Energy-importing countries across Asia and Europe would face higher fiscal pressure and slower economic growth due to elevated fuel costs.Has Oil Transit Been Disrupted?While concerns over shipping safety have intensified, large-scale disruptions to physical oil flows have not yet occurred. The immediate threat is not necessarily a complete closure of the Strait of Hormuz but reduced shipping efficiency and higher transportation costs. Even without major supply disruptions, prolonged uncertainty can increase the cost of moving crude oil across global markets.What Does It Mean for India?India, which imports more than 80% of its crude oil requirements, remains highly vulnerable to developments in the Middle East. Any sustained rise in crude prices would increase the country's import bill, widen the trade deficit, and add pressure on inflation.Although global crude prices had shown signs of easing before the latest escalation, renewed geopolitical concerns could prevent further declines. If tensions eventually ease and global oil prices stabilize at lower levels, there may be some scope for domestic fuel price reductions. However, current uncertainties make significant price cuts unlikely in the near term.Outlook for Crude OilThe near-term outlook for crude oil remains uncertain and will largely depend on geopolitical developments. If tensions between Iran and the United States continue to escalate and attacks on shipping persist, crude prices are likely to remain firm with periods of sharp volatility.For now, crude oil markets are being driven more by geopolitical risks than by underlying supply-and-demand fundamentals. Overall, prices are expected to maintain a positive bias in the short term. However, sustained and extreme price rallies would likely require actual supply disruptions rather than concerns alone.(The author Hareesh V. is Head of Commodity Research at Geojit Investments Limited)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Oil steadied at the end of a bumpy week, as talks between the US and Iran continued despite a flare-up in fighting that drove a steep drop in traffic through the Strait of Hormuz.

Oil prices steadied at the end of a bumpy week, as talks between the US and Iran continued despite a flare-up in fighting that drove a steep drop in traffic through the Strait of Hormuz.

Oil prices saw a slight decrease but are set for significant weekly gains. Renewed military exchanges between the United States and Iran kept crude supply concerns elevated. The conflict has delayed the reopening of the Strait of Hormuz, a critical energy chokepoint. Worries over slowing global demand and inflation are limiting sharper price rallies. Producer price inflation in China surged, increasing pressure on manufacturers.

Oil steadied at the end of a bumpy week as talks between the US and Iran were said to be continuing despite a flare-up in fighting that drove a drop in traffic through the Strait of Hormuz.

Oil prices fell on Thursday after a surge the previous day triggered by US President Donald Trump's declaration that the ceasefire with Iran was "over" following the country's renewed attacks on ships in the Strait of Hormuz. Trump later said that he expected the latest military flare-up to end quickly and left the door open to more talks.

US President Donald Trump's announcement ending the ceasefire with Iran has heightened concerns for ships transiting the Strait of Hormuz. Nine India-bound ships await passage, and an Indian oil tanker reportedly turned back from the Omani corridor. Crude oil prices saw a significant spike as global benchmark Brent rose more than seven percent. Officials express concern, but India's diversified energy supplies may mitigate severe impacts.

Oil prices jump as USIran truce frays and Hormuz shipping risk deepens

Brent crude benchmark rose to more than $78 a barrel, its steepest increase since ceasefire beganOil markets have recorded the sharpest price rise in nearly two months after a series of attacks on fossil fuel tankers near the strait of Hormuz led Donald Trump to declare that the ceasefire deal with Iran was “over”.Brent, the global crude benchmark rose by 5% on Wednesday to more than $78 (£58) a barrel, the highest price since the US and Iran agreed the ceasefire while negotiating an end to the war last month. Continue reading...

Fresh tensions over the Strait of Hormuz, a vital maritime route for 20% of the world’s oil, could keep gasoline from falling below the $3 mark.

Crude oil prices rose more than 6% to a two-week high after US President Donald Trump declared the interim accord to end the war with Iran "over", while fresh US military strikes renewed concerns about oil supplies through the Strait of Hormuz.

Oil prices gained more than 2 per cent on Wednesday after the US military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again. Brent crude futures gained $1.92, or 2.6pc, at $76.08 a barrel at 0400 GMT. US West Texas Intermediate crude climbed $1.82, or 2.6pc, to $72.26 a barrel. Both benchmarks rose about 3pc on Tuesday after the US revoked the general licence authorising the sale of Iranian crude following the Iranian attacks. “While the revocation doesn’t fundamentally change oil market dynamics, it’s important from a sentiment perspective. It heightens the risk of a breakdown in the temporary deal between the US and Iran,” ING commodity strategists said on Wednesday. The US airstrikes were in response to Iranian attacks on three commercial vessels that were transiting the Strait of Hormuz, US Central Command said on Tuesday. “The current conflagration is a reminder to the market of how fragile passage through the Strait still is,” said Saul Kavonic, head of research at MST Marquee. “This presents a contrary indicator to the prevailing sentiment that the market could be flooded into oversupply, which may scare some of the record short positioning to cover,” he said, adding that if tensions persist and traffic through the waterway remains below 50pc of pre-war levels, the resulting supply constraints could support higher oil prices. After the US and Iran signed their truce agreement last month, oil prices tumbled back to pre-war levels and traders amassed large short positions in oil futures, or bets that prices would fall further. Expectations of a wave of pent-up Middle East supply coming onto the market caused the price declines. Iran did not take responsibility for the vessel attacks, but Qatar blamed Iran for them, including one on a Qatari liquefied natural gas tanker, which reported being struck by a drone that caused a fire in its engine room. A Saudi-flagged crude oil tanker, believed to be the supertanker Wedyan, was also damaged off Oman, maritime security sources said. The cause was not immediately clear. The attacks renewed concerns about tanker traffic through the Strait of Hormuz, which carried cargoes equal to about one-fifth of global energy supply before the war began in February. Iran is asserting its control of the Strait and has ordered ships to use a route closer to its coast rather than one nearer to Oman, which also borders the waterway. The US insists the waterway must remain free to all as it was before the conflict started. Since the war started, nations have drawn down their inventories to make up for the supply shortfall. US crude oil inventories fell again last week, market sources said on Tuesday, citing data from the American Petroleum Institute. Analysts polled by Reuters had expected crude stockpiles to decline by about 2.4 million barrels in the week ended July 3.

Crude oil prices witnessed a sharp rise on Wednesday after renewed military tensions between the United States and Iran triggered concerns over possible disruptions to Middle East oil supplies.Brent crude was trading at $76.15 per barrel, up 2.68%, while US West Texas Intermediate (WTI) crude gained 2.80% to reach $72.41 per barrel during early trade.The increase followed US airstrikes on Iran after attacks on three commercial vessels passing through the Strait of Hormuz. Washington also reinstated sanctions on Iranian crude sales, increasing uncertainty over the future of the fragile ceasefire between the two countries.The Strait of Hormuz remains one of the world’s most critical energy transit routes, handling nearly one-fifth of global energy supplies before the conflict escalated. Any disruption to shipping activity through the narrow waterway can quickly affect global oil markets.Saul Kavonic, Head of Research at MST Marquee, said the latest developments highlighted the vulnerability of shipping routes through the Strait. He warned that continued tensions and reduced tanker movement could create supply constraints and keep oil prices elevated.Crude prices had declined sharply after the US and Iran agreed to a temporary truce last month, with investors expecting increased oil availability from the region. However, the latest escalation has reversed those expectations and revived concerns over supply security.According to reports, Brent and WTI crude had already gained around 3% on Tuesday after the US withdrew the licence that had allowed Iranian crude exports to continue.The situation has also raised fresh concerns over maritime security in the Gulf region. Qatar accused Iran of targeting three commercial vessels, including a Qatari liquefied natural gas tanker that caught fire after being hit by a drone. Stock Markets Eye Crude Oil, Global Signals, TCS Q1 Results on July 9, Key Triggers To Shape Sensex & Nifty This WeekA Saudi Arabian crude tanker was also reportedly damaged near Oman, although the cause of the incident remains unclear.Iran has reportedly advised ships to move closer to its coastline instead of following the traditional route near Oman, while the US has maintained that the Strait of Hormuz must remain open for international shipping.Adding further support to oil prices, US crude inventories declined last week, suggesting steady demand. Data from the American Petroleum Institute indicated another fall in stockpiles, while analysts had expected inventories to drop by about 2.4 million barrels.Meanwhile, Iran accused the US of violating the ceasefire agreement through military strikes, renewed sanctions and threats of additional action. Iran’s top negotiator Mohammad Bagher Ghalibaf said Washington had breached the truce through its latest measures.

Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.

Crude futures climb to US$72.40 as the US reinstates trade sanctions following tanker attacks in the Strait of Hormuz.

Oil prices saw minimal change as peace talks between the U.S. and Iran offered hope for the Strait of Hormuz's reopening. Despite recent skirmishes, a potential deal is expected to hold, boosting Middle Eastern supply. Gulf producers, including Kuwait and Saudi Arabia, are increasing output, leading to a near-term oil glut and a shift in market structure. This increased availability is outpacing demand, particularly from China.

Rolling coverage of the latest economic and financial newsVoyages through the Strait of Hormuz have more than quadrupled in the past week amid growing confidence in the US and Iran’s 60-day ceasefire, the Financial Times reports.The number of traceable journeys by ships passing into and out of the Gulf each day has increased from between one and two for the majority of the conflict to eight on July 1, according to a moving seven-day average from maritime data platform Signal.“Fundamentals are rapidly reasserting themselves.Shipping flows are normalizing, Chinese buyers remain absent, physical crude markets have weakened sharply, and inventories have drawn far less than expected.” Continue reading...

The oil market is on course for its fourth consecutive week of decline as flows through the Strait of Hormuz continue to normalise, a commodities report said

Oil prices fell about 1% on Thursday, extending losses for a third straight session, after Qatar said the US and Iran had made "positive progress" in indirect talks centred on the Strait of Hormuz, through which one-fifth of the world's oil supply moved before the June war.A spokesperson for Qatar’s Foreign Ministry said the discussions achieved "positive progress" on issues related to the memorandum that ended the conflict. However, there was no indication that the two sides had moved closer to a lasting peace, Reuters reports.Brent crude futures fell 77 cents, or 1.1%, to $70.80 a barrel by 0256 GMT, while US West Texas Intermediate crude declined 84 cents, or 1.2%, to $67.74 a barrel. Both benchmarks had dropped more than 1% in the previous session, touching their lowest levels in four months.Market Pressure Builds"As the strait stays open and crude oil flows out, there are growing expectations of oversupply and competition for market share is pushing prices down," Haitong Futures said in a note.Oil Prices Slip As Markets Weigh Uncertain US–Iran Talks, Fragile CeasefireOPEC+ Output ExpectationsMarket sentiment was also weighed down by expectations that OPEC+ producers will approve another increase in output targets for August when they meet on Sunday, according to sources.UBS lowered its Brent crude forecasts on Thursday, citing the US-Iran memorandum of understanding and the subsequent rise in oil shipments through the Strait of Hormuz. The bank reduced its average Brent forecast for the September quarter by $25 and for the December quarter by $10. It now expects Brent to average $80 a barrel in the second half of the year and $75 in 2027.Also Watch:"Despite this, we believe it is premature to assume a full normalisation, & see price risk skewed to the upside noting that inbound tankers to the Persian Gulf have lagged outbound tankers," UBS said.Qatar’s Foreign Ministry also said the next round of talks between Iranian and US negotiators will take place after funeral processions for Iran’s late Supreme Leader Ayatollah Ali Khamenei on July 9.

Oil prices fell for a third day as supply climbed and there were signs of progress in indirect talks between the US and Iran.

Oil prices dipped as Qatar reported positive progress in indirect Iran-U.S. talks concerning the vital Strait of Hormuz. Despite recent exchanges, tanker traffic is recovering, with U.S. officials noting a return to pre-war levels. This, coupled with anticipated OPEC+ output hikes and a smaller-than-expected draw in U.S. crude inventories, is fueling expectations of oversupply and pushing prices lower.

Oil fell for a third day as flows through the Strait of Hormuz climbed and there were signs of progress in indirect talks between the US and Iran.

Oil fell for a third day as flows through the Strait of Hormuz surged and there were signs of progress in indirect talks between the US and Iran.

Crude oil prices edged up as stalled Iran-US talks reignited fears of Middle East supply disruptions. Despite claims of Strait of Hormuz reopening, uncertainty persists. Analysts have lowered oil price forecasts, but US inventory data and ongoing diplomatic efforts remain key market drivers. Investors await official US figures for further direction.

Oil steadied after the biggest quarterly drop since the pandemic, as traders monitored peace talks between the US and Iran and the return of shipping through the Strait of Hormuz.

Oil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent declines following conflict de-escalation, analysts are revising forecasts. Meanwhile, U.S. crude and gasoline inventories dropped last week, with markets awaiting official government data. Tanker traffic through the Strait of Hormuz is reportedly recovering, easing supply disruption fears.

Oil steadied after the biggest quarterly drop since the pandemic as traders monitored peace talks between the US and Iran and the return of shipping through the Strait of Hormuz.

Oil prices edged lower on Tuesday as market participants awaited developments from potential US–Iran talks in Doha, even as renewed missile exchanges between the two sides over the weekend raised concerns about the stability of an interim ceasefire aimed at ending a four-month-long conflict.Brent crude futures for August delivery, which were nearing expiry on Tuesday, fell 1.03% or 75 cents to $72.40 per barrel. The more actively traded September Brent contract declined 0.54% or 40 cents to $73.51 per barrel. Meanwhile, US benchmark West Texas Intermediate (WTI) crude slipped 0.66% or 47 cents to $70.32 per barrel.Market sentiment was shaped by mixed diplomatic signals. Iranian Deputy Foreign Minister Kazem Gharibabadi, quoted by Reuters, said that Iranian and Omani experts are expected to begin discussions in the coming days on revising transit routes through the Strait of Hormuz. He also stated that Iran would aim to ensure vessels follow designated shipping lanes.However, Iranian Foreign Ministry spokesperson Esmaeil Baghaei later clarified that no official meetings or negotiations with the United States have been scheduled in the near term. Stock Market To Track West Asia Tensions & Crude Oil Prices, PMI Data, Auto Sales And Monsoon Progress To Drive Trading This Week These contradictory statements highlighted the uncertainty surrounding diplomatic efforts.The confusion comes amid a fragile ceasefire agreement reached on June 17, which had temporarily halted hostilities that previously disrupted global oil flows through the strategically critical Strait of Hormuz. The agreement also carries political implications, particularly for US President Donald Trump ahead of upcoming congressional elections.Israel has remained outside the US–Iran peace framework and has publicly distanced itself from the ceasefire arrangement, adding further complexity to the geopolitical landscape.Despite ongoing tensions, including renewed strikes and attacks on vessels in the Strait of Hormuz, shipping data indicates that energy exports from key Middle Eastern producers have not been significantly disrupted. Crude oil and liquefied natural gas (LNG) shipments continue to be loaded and exported, helping prevent a sharper supply shock in global markets.Overall, oil prices remain under pressure from geopolitical uncertainty, with traders closely watching whether diplomatic efforts can stabilise the situation or if renewed conflict will escalate supply risks.

Oil prices dipped as markets weighed potential US-Iran talks in Doha against ongoing regional instability. Despite recent missile exchanges and attacks on ships, crude shipments through the Strait of Hormuz have seen an uptick. Investors are cautiously optimistic about diplomatic efforts, though tangible signs of de-escalation remain elusive. Analysts suggest Gulf oil flows are steadily recovering, potentially returning to pre-conflict levels soon.

Amid rising tensions in the Middle East, Iran has escalated conflicts by firing missiles at US locations and Israel has retaliated against Hezbollah, casting doubt on an interim peace agreement. Consequently, Brent crude prices have increased sharply. Even with a ceasefire in place, renewed threats to shipping routes in the Strait of Hormuz have raised alarms about future oil supply, as experts ponder the chances of restoring oil flows.

Oil prices rise as US-Iran tensions disrupt shipping Oil prices rose after several days of tit-for-tat strikes between the United States and Iran disrupted shipping through the Strait of Hormuz and renewed concerns about global energy supplies. Brent crude futures gained 58 cents, or 0.8 percent, to $72.57 a barrel by 02:07 GMT, while US West Texas Intermediate crude rose 88 cents, or 1.3 percent, to $70.11 a barrel. The increase followed a sharp decline last week, when Brent fell 10.6 percent as crude shipments through the strategic waterway climbed to their highest level since the US-Israel war on Iran began in late February. The latest gains come despite reports that Washington and Tehran have agreed to temporarily halt strikes and resume technical talks under the memorandum of understanding, with both sides also expected to allow commercial shipping to move freely through the Strait of Hormuz.

Brent crude fell 10.6% last week, its third weekly decline, after crude shipments through the strait rose last week to their highest level since the US-Israeli conflict with Iran began in February

Oil prices saw an uptick as renewed US-Iran tensions in the Middle East disrupted shipping through the Strait of Hormuz. Despite reports of a potential de-escalation and renewed talks, analysts caution that a full recovery of Gulf oil supply could take months due to lingering issues. Saudi Aramco has resumed loadings, but a recent helicopter crash adds to the complex situation.

Today's Iran war news: Escalating strikes and counterstrikes in the Strait of Hormuz area say the MOU is past its sell-by date.

Global crude oil prices have plunged to four-month lows, driven by improved tanker traffic through the Strait of Hormuz and anticipation of increased Iranian oil exports. This easing of supply disruption fears has led to significant drops in Brent and WTI futures. Despite this, underlying geopolitical uncertainties persist, with investors closely monitoring US-Iran negotiations and inventory data for future market direction.

Crude oil prices continued to recede towards pre-war levels on Wednesday as the United States and Iran remained engaged in peace negotiations in Switzerland.The global benchmark Brent crude fell around 0.80 percent to trade near the $76.50 per barrel mark.US benchmark West Texas Intermediate (WTI) crude also declined 0.60 percent to $72.60 per barrel during Asian trading hours.For comparison, Brent crude was trading around the $73 per barrel mark on February 27, a day before the conflict began.The latest decline in oil prices came as the United States and Iran continued to make progress on the diplomatic front.The negotiations have already resulted in the United States agreeing to waive sanctions on Iran’s oil industry for a period of 60 days while both sides continue discussions on a broader agreement.Sensex Jumps 588 Points, Nifty Climbs 0.5% As Crude Oil Eases, IT Stocks Lead Gainsw However, Qatar has cautioned that restoring shipping traffic through the Strait of Hormuz to pre-war levels will take time.Speaking to the Financial Times, Qatar’s Prime Minister said the country would oppose any attempt by Iran to impose transit fees on vessels using the strait.“This is against international protocol. For a country like Qatar, it is our only water corridor,” he said.There were also conflicting statements regarding nuclear oversight in Iran.While US President Donald Trump said Iran had agreed to allow nuclear inspections, Tehran denied those claims, highlighting that differences remain between the two sides.As conditions in the Strait of Hormuz improve, the United Nations’ International Maritime Organization (IMO) has started efforts to evacuate more than 11,000 sailors stranded in the region.According to Al Jazeera, IMO Secretary-General Arsenio Dominguez said the operation would be conducted in close cooperation with Iran, Oman, other coastal states, the United States and the maritime industry.Analysts believe oil prices could ease further if diplomatic progress continues and supply flows through the Strait of Hormuz return to normal levels.

Oil extended declines as more tankers openly cross the Strait of Hormuz, while the US and Iran signal progress toward ending the war.

Oil held declines as more tankers openly cross the Strait of Hormuz, with the US and Iran making progress toward ending the war.

Oil steadied while tankers become more overt in transiting the Strait of Hormuz following an agreement between Iran and the US to end their conflict. Ellen Fraser, Partner and Energy expert at Baringa Partners, discusses the recent moves in oil as the US greenlights Iran to sell on the open market. (Source: Bloomberg)

President Donald Trump has cheered what he called a record day for global energy shipments, revealing that a staggering 19 million barrels of oil flowed through the critical Strait of Hormuz on Monday.

President Donald Trump has cheered what he called a record day for global energy shipments, revealing that a staggering 19 million barrels of oil flowed through the critical Strait of Hormuz on Monday.

The United States has temporarily lifted major sanctions on Iran, allowing the country to produce, transport and sell crude oil, petroleum and petrochemical products for the next 60 days.The special waiver issued by the US Treasury Department will remain active until August 21. This move is linked to an interim agreement between Washington and Tehran, as both countries continue talks to reach a long-term peace deal.The temporary relief is seen as one of the biggest policy shifts in recent months, especially for global energy markets.Crude Oil Prices Fall 1.9%, US-Iran Begin 60-Day Peace NegotiationsTrade OpensThe sanctions relief also covers services needed for oil trade. These include banking transactions, shipping, insurance and maritime logistics.This means buyers can legally purchase and move Iranian oil during the waiver period. The US has also allowed limited imports of Iranian oil into America when required to complete sales or deliveries.However, the Treasury Department made it clear that transactions involving North Korea and Cuba remain strictly prohibited.Peace TalksUS Treasury Secretary Scott Bessent said the waiver follows commitments made by Iran during diplomatic talks.According to the US, Iran has agreed to ensure smooth movement of ships through the strategically important Strait of Hormuz.Iran has also reportedly agreed to allow inspectors from the International Atomic Energy Agency to enter the country.Brent Crude Plunges 4.57% To $98.81 As Trump Announces Major Progress On US-Iran Peace DealThe talks in Switzerland were led by US Vice President JD Vance, who said negotiations have created a strong base for a permanent settlement.Still, Iranian officials have denied fully agreeing to nuclear inspection demands during the first round of talks.Oil FallsGlobal oil markets reacted quickly to the announcement.Crude prices dropped more than 3 percent as traders expected additional Iranian supply to enter global markets. More supply usually reduces price pressure.Despite the relief, many buyers remain cautious. Markets fear that if talks fail, US sanctions could return quickly, creating fresh uncertainty in the oil trade.

Crude oil prices continued to recede towards pre-war levels on Tuesday as the United States and Iran remained engaged in peace negotiations in Switzerland.The global benchmark Brent crude fell around 0.65 percent to trade near the $77.50 per barrel mark.US benchmark West Texas Intermediate (WTI) crude also declined 0.38 percent to $73.58 per barrel during Asian trading hours.Brent crude was trading at around the $73 per barrel mark on February 27, a day before the war started.The latest decline in oil prices came as the United States and Iran continued making progress on the diplomatic front.The talks have so far resulted in the US agreeing to waive sanctions on Iran’s oil industry for a period of 60 days, during which the two sides will hold negotiations.According to reports, the US and Iran have also agreed to devise a mechanism to end fighting between Israel and Lebanon.Crude Oil Prices Fall 1.9%, US-Iran Begin 60-Day Peace Negotiations The peace memorandum signed earlier this month has already led to the reopening of the crucial Strait of Hormuz.The talks are being led by US Vice President JD Vance and Iran’s Parliament Speaker Mohammad Bagher Ghalibaf, along with Foreign Minister Abbas Araghchi. Pakistan and Qatar are acting as mediators in the discussions.According to a report by Bloomberg, at least three supertankers moved to transit the strait on Monday.The tankers were carrying about 6 million barrels of Iranian crude. This is the largest volume of Iranian crude on its way out of Iran’s Kharg Island since the war started in late February.Sensex Slips 216 points, Nifty Hovers Near 24,000 Mark As Global Tech Selloff Weighs on IT Stocks According to experts, the full resumption of fuel supply from the West Asia region may take months, but crude oil prices have receded faster than expected.Now, the biggest source of uncertainty remains the fate of the peace negotiations, which faced hiccups even before they commenced.The negotiations briefly faced the threat of derailment last week after Vance delayed his visit to Switzerland.Iran had reportedly shown reluctance to continue talks because of Israel’s ongoing military operations in Lebanon.Oil prices had already softened last week after Washington and Tehran signed a peace memorandum. However, prices recovered towards the end of the week as renewed Israeli strikes in Lebanon raised concerns about the durability of the agreement.

On Tuesday, oil prices enjoyed a modest rise as they bounced back from a previous decline. Investors are tentatively hopeful about the ongoing US-Iran peace discussions, yet they remain cautious about the reopening of the Strait of Hormuz for crude exports. Despite early indicators showing improved maritime movements and declining US strategic oil reserves, skepticism lingers as traders look for solid proof of restoring shipping operations.

Brent crude futures were down despite Donald Trump’s renewed threats to ‘take over’ Iran unless it opens the Strait of Hormuz

Oil prices declined on Monday after US-Iran talks concluded in Switzerland with Tehran saying it had secured waivers for oil and petrochemical exports, easing worries about a supply shortage in global markets. Brent crude fell $1.68, or 2.09 per cent, to $78.89 a barrel by 0633 GMT (11:33am PKT). Prices had climbed to $82.30 at the start of trading, fuelled by a bumpy start to the talks with threats from US President Donald Trump to restart the war on Iran and Tehran’s announcement it had again closed the Strait of Hormuz. US West Texas Intermediate crude futures were at $76 a barrel, down 60 cents, ahead of the contract’s expiry later on Monday. The more active August contract fell 69 cents to $75.16 a barrel. There was no settlement in the US market on Friday due to a holiday. “The decline has been driven primarily by improving prospects for a diplomatic breakthrough between the United States and Iran … reviving hopes that sanctions on Iran could eventually be eased,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm. High-ranking US and Iranian officials wrapped up their first round of talks in Switzerland on Monday, mediators said. The talks began on Sunday under the terms of a memorandum of understanding reached last week to extend a tenuous ceasefire from April for at least another 60 days. Iranian Foreign Minister Abbas Araghchi said his country had secured waivers for oil and petrochemical exports, the release of some frozen assets and the launch of a reconstruction and development plan for Iran. “Such a development would allow nearly 1.5 million barrels per day of Iranian crude to return to international markets, significantly improving global supply availability at a time when demand growth remains moderate,” Sachdeva said. ‘Very real risks’ Before the talks, the number of ships that passed the Strait of Hormuz fell sharply on Sunday, shipping data showed, after Iran announced it had again closed the waterway, citing Israeli and US violations of the interim peace deal. Israeli strikes in Lebanon killed at least 20 people on Saturday, Lebanon’s state news agency NNA said, one day after a ceasefire with Hezbollah took effect, aimed at halting months of escalating violence. “Recent developments show that moving towards a more permanent deal will be challenging, with very real risks of a flare-up in hostilities during the 60-day ceasefire,” ING analysts said in a note ahead of the announcement of the conclusion of the talks in Switzerland. Still, oil prices fell more than 8pc last week on hopes of more supply from the release of cargoes stranded in the Gulf and the potential lifting of US sanctions on Iranian oil as part of the US-Iran deal. Over 25m barrels of Iranian oil have passed through the virtual blockade line since Monday, the head of the National Iranian Oil Company, Hamid Bovard, told state TV on Sunday. The United Arab Emirates, Kuwait and Iraq have offered more oil to customers in the past week. Iraq plans to restore crude production gradually to between 4.2m and 4.3m barrels per day, Iraq’s deputy oil minister for upstream affairs said in a statement on Sunday.

Oil prices retreated on Monday after signs of progress in US-Iran negotiations eased fears of ongoing supply disruptions in the Strait of Hormuz, a critical global oil transit route.

Crude oil prices moved lower on Monday as the United States and Iran started formal negotiations aimed at reaching a long-term peace agreement.The global benchmark Brent crude fell around 1.91 percent to trade near the $79 per barrel mark. US benchmark West Texas Intermediate (WTI) crude also declined 0.70 percent to $75.32 per barrel during Asian trading hours.The decline in oil prices came as the United States and Iran launched a 60-day negotiation process in Switzerland.The talks are being led by US Vice President JD Vance and Iran’s Parliament Speaker Mohammad Bagher Ghalibaf along with Foreign Minister Abbas Araghchi. Pakistan and Qatar are acting as mediators in the discussions. Sensex Climbs 473 Points, Nifty Gains 0.6%, Banking And IT Stocks Lead Market ReboundThe negotiations had briefly faced uncertainty last week after Vance delayed his Switzerland visit. Iran had reportedly shown reluctance to continue talks because of Israel’s ongoing military operations in Lebanon.Oil prices had already softened last week after Washington and Tehran signed a peace memorandum. However, prices recovered towards the end of the week as renewed Israeli strikes in Lebanon raised concerns about the durability of the agreement.One of the key outcomes of the memorandum was the reopening of the Strait of Hormuz, one of the world's most important energy shipping routes. The waterway handles nearly 20 percent of global oil supplies transported from the Gulf region.Under the agreement, Iran has committed to ensuring the safe movement of commercial vessels through the strait without imposing additional charges.Iran Suspends Quadrilateral Talks With US, Qatar And Pakistan Following President Donald Trump's Threats | VideoThe memorandum also outlines a framework aimed at ending hostilities across several regional fronts, including Lebanon.However, Israel has continued military operations against Hezbollah in Lebanon, keeping geopolitical risks elevated.Market participants remain cautious as any fresh escalation in West Asia could once again disrupt energy supplies and affect oil prices.The agreement gives both countries 60 days to negotiate a final peace settlement, with an option to extend the talks if necessary.

US President Donald Trump threatened military action against Iran if Hezbollah resumes attacks on Israel, injecting fresh uncertainty into peace negotiations that had raised hopes of easing tensions in the Middle East. Brent crude climbed as much as 2.2% to above $82 a barrel, while West Texas Intermediate traded above $78.

As the price of crude oil falls governments are counting the costs of the war in the Middle East Hailing his Iran deal this week amid the excess of Versailles, Donald Trump urged sceptics to take Wall Street’s word for its success. “There is nothing as smart as the market – and the market loves it,” he said, claiming credit for ending the economic chaos that had kicked off when he started bombing Iran in late February. Without the agreement, he said, “the alternative would be a worldwide depression”.By the weekend, the outlook was less optimistic after planned US-Iran peace talks in Switzerland were abruptly called off, then reinstated, and Iran said Israeli bombing in Jordan meant it was justified in closing the strait of Hormuz again. Still, hopes persist that the sea passage carrying about 20% of the world’s oil supplies will reopen fully in the coming days and weeks. Continue reading...

Global crude oil markets have witnessed a sharp correction in recent weeks amid easing geopolitical tensions in the Middle East. The United States and Iran have reportedly moved close to a ceasefire agreement, significantly reducing the risk premium embedded in oil prices. Brent crude, which had surged to around $126 per barrel in April 2026 at the peak of tensions, has corrected to below $78 per barrel last week. Reflecting the global trend, domestic crude prices in India have also declined sharply, with MCX crude slipping below ₹7,100 per barrel. This sharp fall highlights the extent to which geopolitical risks—particularly those involving key oil-producing regions—drive price movements in global energy markets.Cooling Risk Premium, But Uncertainty LingersThe recent decline in oil prices is primarily driven by fading fears of supply disruptions. Earlier, markets had priced in worst-case scenarios, including a prolonged conflict and potential blockage of critical energy trade routes. However, as ceasefire negotiations progressed, traders began unwinding these risk premiums.That said, the deal is not yet fully finalized. The lack of a definitive agreement leaves room for uncertainty, and any breakdown in talks or violation of terms could quickly reignite tensions. As a result, while prices have fallen, volatility remains high, with markets highly sensitive to geopolitical headlines.Strait of Hormuz: Gradual NormalizationThe Strait of Hormuz, a crucial chokepoint handling nearly 20% of global oil trade, has seen gradual normalization in shipping flows. During the peak of tensions, vessel movements were disrupted, and several shipments were delayed.Now, tanker traffic has started to resume, although not entirely without risk. Security concerns and higher insurance costs still persist, indicating that normalcy is returning in phases rather than all at once. Full operational confidence will likely depend on the durability of the ceasefire agreement.Why Doubts Persist Over the DealDespite positive signals, several factors continue to cast doubt on the sustainability of the ceasefire. Israel’s stance remains cautious, driven by concerns over Iran’s regional influence and long-term strategic intentions. Any divergence in regional support could weaken the agreement’s credibility.Additionally, domestic political dynamics in the United States add another layer of complexity. With midterm elections approaching in November, there may be pressure on the leadership to secure a diplomatic breakthrough. While this may accelerate negotiations, it also raises questions about whether the deal is being rushed for political gains rather than long-term stability.Risk of Supply Glut if Flows NormalizeA fully operational Strait of Hormuz could introduce a new dynamic to the oil market—oversupply. During the conflict phase, several cargoes were delayed or stranded. If these shipments enter the market simultaneously alongside steady production levels, the result could be a temporary supply surge.This situation may be exacerbated by growing competition among producers. Notably, the UAE’s exit from OPEC could weaken coordinated supply discipline. In the absence of strict production controls, producers may prioritize market share, potentially triggering aggressive supply flows and intensifying downward pressure on prices.Global Impact: Inflation, Growth, and Trade BalanceLower oil prices have far-reaching implications for the global economy. A sustained decline in crude prices can significantly ease inflationary pressures, particularly in major consuming economies. Reduced energy costs translate into lower transportation and manufacturing expenses, which can stimulate economic growth.Oil-importing countries such as India, China, and European nations stand to benefit the most. In contrast, oil-exporting countries could face revenue shortfalls, potentially straining their fiscal positions. If competition among exporters intensifies, it could even lead to a price war, further pushing prices down and deepening the risk of a supply glut.India: A Major BeneficiaryFor India, the decline in oil prices is a major positive development. With over 85% of its crude oil requirements met through imports, lower global prices directly reduce the country’s import bill. This helps improve the current account balance and supports the stability of the Indian rupee.Additionally, softer crude prices contribute to lower inflation, giving the Reserve Bank of India greater flexibility in managing interest rates. Lower fuel costs also boost consumption and industrial activity, providing a broader lift to economic growth.Price Outlook: Downside Bias with Upside RisksWhile the easing of tensions between the US and Iran has reduced immediate supply risks, the situation remains fragile. Markets will continue to closely monitor developments in the region, particularly the finalization and implementation of the ceasefire.Looking ahead, crude oil prices are likely to remain highly sensitive to geopolitical developments. If the ceasefire is successfully implemented and the Strait of Hormuz operates without disruptions, the market could face sustained downward pressure. In such a scenario, increased supply—combined with the release of delayed cargoes—could push prices even below $50 per barrel.However, the upside risks cannot be ignored. Any breakdown in the deal, renewed hostilities, or disruptions in shipping routes could quickly reverse the trend, leading to sharp price spikes once again.(The author is Head of Commodity Research, Geojit Investments )

A flurry of headlines on Friday point to an increasingly fragile deal between the U.S. and Iran.

Crude oil prices posted modest gains on Friday as uncertainty emerged over the next phase of negotiations between the United States and Iran following a delay in US Vice President JD Vance’s planned trip to Switzerland.The global benchmark Brent crude rose around 0.3 percent to trade above the $80-per-barrel mark. US benchmark West Texas Intermediate (WTI) crude also gained 0.5 percent to $76.28 per barrel during Asian trading hours.Oil prices had declined earlier this week after the United States and Iran signed a peace memorandum aimed at ending the 15-week conflict in West Asia.Vance was expected to travel to Switzerland to lead the next round of discussions with Iran. However, the White House said the trip had been delayed, without providing a reason for the change.The peace memorandum paved the way for the reopening of the Strait of Hormuz, a critical shipping route that handles nearly 20 percent of the world’s oil supply from the Gulf region.Crude Oil Prices Ease Over 2% To $77 Per Barrel Mark As US, Iran Sign Peace MoU The waterway had remained largely disrupted since the conflict began in late February. Following the agreement, commercial shipping activity through the strait has resumed.The document, titled the “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran,” was signed by US President Donald Trump and Iranian President Masoud Pezeshkian on Wednesday.Under the agreement, Iran committed to using its best efforts to ensure the safe passage of commercial vessels through the Strait of Hormuz without imposing additional charges.The memorandum also outlines a framework to end hostilities across multiple fronts, including Lebanon. However, Israel has indicated that it will continue military operations against Hezbollah, potentially creating new challenges for the broader peace process.Sensex Declines 831 Points, Nifty Slips Nearly 1% As Accenture's Weak Guidance Triggers IT Sell-Off According to Al Jazeera, the Israeli military acknowledged carrying out several strikes in southern Lebanon, stating that the operations were in response to alleged ceasefire violations by Hezbollah.The agreement provides a 60-day window for the United States and Iran to negotiate a final peace deal, with the possibility of extending the timeline if required.

The global oil market is zeroed in on activity in the Strait of Hormuz after the US and Iran inked an interim deal to end their war and reopen the critical waterway. While equities have largely shrugged off the turmoil, central banks and traders are eagerly watching for signs of further energy-supply disruption and impacts on inflation. The Opening Trade spoke with leading market voices for their take on the deal, how global economies have handled the conflict and whether the world can return to pre-war pricing. (Source: Bloomberg)

Oil headed for a substantial weekly drop as the US-Iran interim peace deal saw shipping through the Strait of Hormuz start to return to normal, easing the global crude market’s biggest ever supply shock.

Oil headed for a substantial weekly drop as the US-Iran interim peace deal saw shipping through the Strait of Hormuz start to return to normal, easing the global crude market’s biggest ever supply shock.

Oil prices fell about 10% this week to their lowest levels since the war in Iran started after President Trump signed a deal to reopen the Strait of Hormuz.

Oil prices dropped further Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end four months of war and reopen the Strait of Hormuz to tanker and cargo traffic.Optimism that operations will in due course return to pre-war levels in the strait, a global energy chokepoint, helped lift market sentiment with Wall Street some two hours into trading.

Crude prices fell further on Thursday after the US and Iran formally signed a memorandum of understanding aimed at ending the war and reopening the Strait of Hormuz, while equity markets gave a mixed verdict in the wake of the Federal Reserve's latest decision.

Oil prices fall, stocks rally as US, Iran sign framework to end war  Al JazeeraOil prices fall after peace deal signed – as it happened  The GuardianIran War Live Updates: Oil Prices Fall as U.S.-Iran Deal Offers Hope for Shipping  The New York TimesHow the oil market shrugged off the Iran crisis  Financial TimesDeal or no deal, oil prices will stay high for months  The Economist

Oil fell as an interim US-Iran peace deal went into effect, putting the focus on how quickly transits through the Strait of Hormuz can be ramped up as Persian Gulf producers try to restart shut-in fields.

Crude oil prices continued to ease on Thursday as the United States and Iran singed a peace-memoranda resulting in the official end to the 15-week long war.Global crude oil benchmark Brent Crude declined over 2.26 percent to $77.75 per barrel from Wednesday’s levels.American crude benchmark WTI Crude also fell 2.72 percent to $74.50 per barrel mark during the Asian trade hours.Today’s decline in prices is significantly higher than Wednesday’s decline of less than 1 percent. The ease in the commodity came after the peace memoranda was signed between the warring sides.The strait, which was closed since the start of the war in late February, used to give way to about 20 percent of the world’s oil supply from the Gulf region.Iran had effectively blocked the waterway soon after the country was attacked by Israel and the US on February 28.Now that the US and Iran have singed the memoranda and agreed to negotiate a final peace agreement during the 60-day window, the Strait of Hormuz is open for commercial vessels to pass through.The document titled “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran” was singed by the United States President Donald Trump and his Iranian counterpart Masoud Pezeshkian on Wednesday.Sensex, Nifty Trade Flat With Marginal Gains As US-Iran Sign Peace MoU The peace MoU says that the US will end its naval blockade of the Iranian ports within 30 days.The document also ensures that Iran opens the Strait of Hormuz “using its best efforts” to allow safe movement of commercial vessels with zero charge.The document says that conflict will come to an end on all fronts, including Lebanon. However, Israel had earlier said that US’ negotiations with Iran will not have any impact on its military operation against Hezbollah in Lebanon.The peace MoU also allows the US and Iran to come to a final peace agreement within 60 days of signing the deal. Though, the 60-day window can be extended if required.

Oil prices have plummeted following a historic agreement between US President Donald Trump and Iranian President, signalling a potential end to conflict and a reopening of the crucial Strait of Hormuz.

State of Global Oil Inventories Ruins Iran Peace Optimism  Crude Oil Prices Today | OilPrice.comHow the oil market shrugged off the Iran crisis  Financial TimesFear of inflation forced Trump into an Iran deal  The TelegraphBrent crude falls to three-month low below $80 as Iranian oil tankers ‘resume shipping’ – as it happened  The GuardianOil prices continue slide amid hopes for peace, opening of Strait of Hormuz  Al Jazeera

Oil edged lower as traders assessed the interim US-Iran peace deal, with state television in the Islamic Republic and a US official saying that the pact had been signed digitally by the nations’ presidents.

Brent crude prices briefly jumped back above $80 per barrel on Wednesday as traders digested conflicting signals about efforts to end the war and reopen Hormuz.

How the oil market shrugged off the Iran crisis  Financial TimesFear of inflation forced Trump into an Iran deal  The TelegraphBrent crude falls to three-month low below $80 as Iranian oil tankers ‘resume shipping’ – as it happened  The GuardianDeal or no deal, oil prices will stay high for months  The EconomistOil prices continue slide amid hopes for peace, opening of Strait of Hormuz  Al Jazeera

Oil prices continue slide amid hopes for peace, opening of Strait of Hormuz  Al JazeeraUS and Iran deal to end war allows Tehran to sell oil and fuel – as it happened  The GuardianFear of inflation forced Trump into an Iran deal  The TelegraphOil sinks below $80 as traders bet Strait of Hormuz flows will return  Financial TimesIran to Gain Major Financial Relief Under Interim Deal With US  Bloomberg.com

Brent crude drops to lowest price since early March before signing of framework deal to end US-Israel war on Iran.

Crude oil prices continued to ease on Wednesday amid reports of Iran’s first oil tanker in two-month to have exited the zone in the Gulf blockaded by the US Navy.Global crude oil benchmark Brent Crude declined almost 1 percent to $78 per barrel from Tuesday’s levels.American crude benchmark WTI Crude also fell 1 percent to $75 per barrel mark during the Asian trade hours.Today’s decline in prices is, however, comparatively moderate than Monday when there was a decline of over 5 percent right after the announcement of the US-Iran peace deal and opening of the Strait of Hormuz.Still the retreat in prices is faster than many experts had projected.The strait, which was closed since the start of the war in late February, used to give way to about 20 percent of the world’s oil supply from the Gulf region.Iran had effectively blocked the waterway soon after the country was attacked by Israel and the US on February 28.Now that the US and Iran have agreed to stop the war and negotiate a final peace agreement during the 60-day window, the Strait of Hormuz is open for commercial vessels to pass through.Sensex Up 272 Points, Nifty Continues Bull Run As Crude Slips Below $80 Per Barrel After Peace Agreement According to reports, an Iranian oil tanker has managed to exit the zone in the Gulf blockaded by the US Navy. This is Tehran;s first crude oil export in about two months.Earlier it was reported that three Iranian oil tankers and two cargo ships had passed through the Strait of Hormuz after the US lifted its naval blockade.On Monday, the Indian government had said that an LNG vessel, named Disha, entered the Strait.However, traders are cautious of the developments in Lebanon where Isarel has continued its operation against Hezbollah.According to a report by Aljazeera, Iran has accused Israel of violating the truce in Lebanon 84 times since the memorandum of understanding was agreed to between Tehran and the US. Iran has warned of a “harsh response” if attacks continue.Israel has already said that its operation against the Hezbollah in Lebanon will continue despite the peace truce of its war ally the US.Any adverse development in the region may again lead to a surge in oil prices.

Oil prices have significantly declined, nearing pre-conflict levels as hopes rise for a US-Iran agreement. This potential deal could reopen the Strait of Hormuz, a crucial oil transit route, though full restoration of production may take considerable time. Concerns remain regarding the truce's durability and Iran's control over the strait.

Oil held near a three-month low on expectations that a US-Iran deal to reopen the Strait of Hormuz will unleash a wave of supply.

Oil held near a three-month low on expectations that a US-Iran deal to reopen the Strait of Hormuz will unleash a wave of supply.

Oil prices fell as hopes increased that the Strait of Hormuz would reopen and oil shipments would resume.

Oil Prices Crash as Traders Bet the War Is Over  Crude Oil Prices Today | OilPrice.comFear of inflation forced Trump into an Iran deal  The TelegraphUS and Iran deal to end war allows Tehran to sell oil and fuel – as it happened  The GuardianOil sinks below $80 as traders bet Strait of Hormuz flows will return  Financial TimesDeal or no deal, oil prices will stay high for months  The Economist

Brent crude has tumbled to three-month low following agreement to extend US-Iran ceasefire

Oil prices slid further to mark a three-month low on Tuesday on optimism over the expected reopening of the Strait of Hormuz after a peace deal between the U.S. and Iran. Brent No...

Oil prices have fallen to three-month lows but remain above pre-war levels, with analysts expecting shipping through the Strait of Hormuz to resume within weeks.

Crude oil prices on Tuesday remained stable amid reports of oil tankers passing through the Strait of Hormuz after the announcement of the United States-Iran peace agreement.Global crude oil benchmark Brent Crude remained at around $82.57 per barrel, down over 0.7 percent from Monday’s levels.American crude benchmark WTI Crude also declined 0.5 percent to $80.30 per barrel mark during the Asian trade hours.Crude oil prices had declined over 5 percent on Monday due to the announcement of the US-Iran peace deal and opening of the Strait of Hormuz.Crude Oil Falls Nearly 5%, Asian Markets Jump Up To 5.1%, US-Iran Peace Deal Hopes Trigger Global Market Rally The strait, which was closed since the start of the war in late February, used to give way to about 20 percent of the world’s oil supply from the Gulf region.Iran had effectively blocked the waterway soon after the country was attacked by Israel and the US on February 28.Now that the US and Iran have agreed to stop the war and negotiate a final peace agreement during the 60-day window, the Strait of Hormuz is open for commercial vessels to pass through.Three Iranian oil tankers and two cargo ships have passed through the Strait of Hormuz after the US lifted its naval blockade, according to Iranian media.On Monday, the Indian government had said that an LNG vessel, named Disha, entered the Strait.'Iran Agrees To Never Possess Nuclear Weapons': President Donald Trump Denies $300 Million Payment Claim, Highlights New US-Iran Deal | Video Also, US Vice President JD Vance has said that there will be no tolls in the Strait of Hormuz during the 60-days of talks with Tehran.According to experts in some Indian oil marketing companies, oil prices could fall below the $80 per barrel mark if the two sides remain diplomatically engaged.However, there is still a lack of clarity on the nuclear programme of Iran. While it is being reported that the talks on the programme have been deferred, the US President Donald Trump has recently said that Iran has agreed not to acquire nuclear weapons in the future.

The agreement between the US and Iran to end their military standoff has brought immediate relief to international markets, sending oil prices lower and easing fears over energy supplies.  However, as of Tuesday morning, June 16, the picture for global shipping remains far more complicated.  The agreement is expected to reopen the Strait of Hormuz, one of the world’s most important energy […]

The rebound followed a sharp selloff on Monday, when oil prices tumbled nearly 5% to their lowest closing level since March 4. The decline came after U.S. President Donald Trump announced that a memorandum of understanding had been agreed to end the U.S.-Israeli war with Iran.

Global oil prices have seen a significant drop following signs of de-escalation in Middle East tensions, spurred by a US-Iran memorandum of understanding. While this offers relief to consumers, questions linger about the speed of supply recovery. The Strait of Hormuz, a vital oil route, is expected to reopen, potentially easing inflationary pressures.

Oil held its biggest drop in more than two weeks as traders, shippers and producers awaited details of a US-Iran deal that’s intended to pave the way for the full reopening of the Strait of Hormuz.

Oil held its biggest drop in more than two weeks as traders, shippers and producers awaited details of a US-Iran deal that’s intended to pave the way for the full reopening of the Strait of Hormuz.

Oil held the biggest drop in more than two weeks on optimism that a deal between the US and Iran will reopen the Strait of Hormuz.

Crude oil prices are falling as oil markets react to President Trump saying the U.S. and Iran have agreed on a framework for reopening the Strait of Hormuz.

HOUSTON — Oil prices slumped 5 percent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the Strait of Hormuz. Brent crude futures fell $4.38, or 5.02 percent, to $82.95 a barrel by 10:54 a.m. EDT (1455 GMT) and U.S. West Texas Intermediate was at $80.28, down $4.60, or 5.42 percent. Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3 percent on Friday. WTI futures fell as much as $5 during the session. The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, said the prime minister of Pakistan, whose country has served as a mediator. Trump said on Sunday that the Strait of Hormuz would be open "toll free" and that a U.S. naval blockade of Iranian ports would also end, though it remains in effect pending completion of the ceasefire agreement. Iran's semi-official Mehr news agency said the draft deal called for reopening the Strait of Hormuz within 30 days under Iranian arrangements. "With a wall of oil supply very possibly on the way, the

Crude oil prices sank to their lowest levels in months following President Trump’s announcement of an agreement with Iran to reopen the Strait of Hormuz.

Markets welcome US-Iran peace deal but prices may stay high as buyers race to refill depleted emergency crude stockpilesOil prices hit three-month low and markets rallyBusiness live – latest updatesAfter more than 100 days of the greatest recorded disruption to the world’s energy supplies, the global oil and gas markets have breathed a sigh of relief.Hours after Donald Trump confirmed that a US-Iran peace deal would lead to the reopening of the strait of Hormuz to tankers carrying millions of barrels of oil and gas, the price of Brent crude tumbled to lows of $83 a barrel. Wholesale gas prices fell about 6%. Continue reading...

President Trump announced the deal late Sunday, authorizing the reopening of the Strait of Hormuz and sending crude tumbling

 Global crude oil price dropped to $82 a barrel on Monday as the United States, Israel, and Iran reached a deal to end the Middle East war on all fronts including Lebanon, and reopen the vital Strait of Hormuz. Brent crude, the global oil benchmark, went down by 5 percent to $82.90 per barrel.   The last time the oil trade at this range was in March.   The US West Texas Intermediate ​crude also fell 4 percent to hit $80 per barrel.   When the conflict began in February, Brent had risen from $62 on February 16 to $79 per barrel on March 2 amid escalating geopolitical tensions in the Middle East.   In the course of the war, oil price rose as high as $125 per barrel in April.   However, the recent drop follows the announcement of a deal to end the conflict.   According to reports, the United States and Pakistan said the agreement to reopen the vital Strait of Hormuz, was to be signed on Friday in Switzerland, signalling what would be a major breakthrough to ending months of war that have taken thousands of lives and roiled energy markets.   Few of the details were made public, but US President Donald Trump said the Strait of Hormuz, a key conduit for global oil supplies, would reopen after the planned signing of the deal.   “The Deal with the Islamic Republic of Iran is now complete,” US President Donald Trump posted Sunday on social media.   “Ships of the World, start your engines. Let the oil flow!”   Soon after, Kazem Gharibabadi, Iran’s deputy foreign minister, said in televised comments that the deal put an “immediate end” to the countries’ war and that they would hold talks within two months to seek a “final agreement”.

Oil prices traded over 5% lower on Monday morning after US President Donald Trump announced the completion of the deal with Iran and the reopening of the Strait of Hormuz.

Oil prices slipped to their lowest since March today after US President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.

Oil fell after the US and Iran agreed to an interim deal to end their war, potentially allowing the Strait of Hormuz to reopen and easing a supply crunch that has rattled global energy markets. Bloomberg's Stephen Stapczynski reports. (Source: Bloomberg)

Crude oil prices declined sharply by nearly 5% in early Asian trading on Monday, June 15, following US President Donald Trump’s announcement of a completed peace deal with Iran and the immediate reopening of the Strait of Hormuz, a critical global energy route that previously handled about 20% of global oil flows before the conflict.Brent crude fell more than 3.5% in early trades, slipping below $85 per barrel, while West Texas Intermediate (WTI) crude dropped as much as 5%, briefly approaching the $80 mark. However, prices showed signs of partial recovery as official confirmation from Iran on the agreement was still awaited.Iran Says US To Lift Naval Blockade As Peace Deal Ends Military Operations, Including In Lebanon | Video In a post on Truth Social, Trump stated that the Strait of Hormuz would reopen immediately following the deal and that the US naval blockade would also be lifted. He added, “Ships of the World, start your engines. Let the oil flow!”Pakistan Prime Minister Shehbaz Sharif also indicated on X that the agreement is expected to be signed in Switzerland on June 19. Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED. Both sides have declared the immediate and permanent termination of military operations on all fronts, including in…— Shehbaz Sharif (@CMShehbaz) June 14, 2026 According to Bloomberg, Iran’s deputy foreign minister Kazem Gharibabadi has confirmed the deal signing, although senior Iranian leaders, including the foreign minister and parliament speaker, have yet to issue official statements.Oil prices declined primarily due to expectations that reopening the Strait of Hormuz would restore normal shipping and allow Asian economies to resume uninterrupted crude imports from the Gulf region. Additionally, earlier production quota increases announced by the Organization of the Petroleum Exporting Countries (OPEC) for July have added further downward pressure on prices.The oil market has experienced extreme volatility in recent months, surging to as high as $125 per barrel during the height of the Iran conflict. However, intermittent ceasefire developments and peace expectations have prevented sustained price spikes.Overall, easing geopolitical tensions and improving supply outlook have triggered a sharp correction in global crude benchmarks, although uncertainty persists pending formal diplomatic confirmations.

Brent fell nearly 5% after Washington and Tehran agreed to reopen the Strait of Hormuz and end months of disruption.

US-Iran peace deal sparks immediate drop for Brent crude but analysts warn complex negotiations lie ahead, potentially halting further significant dropsMiddle East crisis: live updatesPeace deal between US and Iran announced, with strait of Hormuz expected to reopenWhat do we know about the US-Iran peace deal – and what questions remain?Global oil prices have tumbled amid fresh hopes that a US-Iran peace deal may end the greatest energy supply crisis in the history of the market.The price of Brent crude dropped below $84 a barrel as the new trading week began in financial centres across Asia-Pacific, amid optimism that the strait of Hormuz could reopen shortly and bring a return of Gulf oil exports to the market. Continue reading...

The price of oil has already fallen following the announcement of a peace deal however it is unclear when normal service will resume when the Strait of Hormuz reopens

The decline extended a broader retreat in oil prices as traders responded to signs that a prolonged disruption to energy flows through the Strait of Hormuz could ease.

Tanker traffic plunged in early March due to Iranian attacks, causing the biggest oil supply disruption in history.

Brent crude dropped 3.9 per cent to $84 a barrel, while US crude fell 4.8 per cent to around $81 a barrel. The decline added to losses recorded on Friday, when Brent slipped 3.4 per cent and US crude shed 3.2 per cent. The Strait of Hormuz, through which a significant share of the world's oil shipments pass, has effectively remained closed since the conflict erupted in late February. According to an Iranian lawmaker, some commercial vessels had been paying an average of about $2 million to transit the waterway.

Oil prices fell more than 3% on Friday to their lowest levels in nearly two months as U.S. and Iranian officials said they were close to an agreement to halt their war in the Middle East. Brent futures were down $3.34, or 3.7%, at $87.04 a barrel by 1035 CDT (1535 GMT), while U.S. West Texas Intermediate (WTI) crude dropped $3.11, or 3.55%, to $84.60. Both contracts were at their lowest prices since April 17. "The market thinks we're closer to the deal," said Phil Flynn, senior analyst with ‌Price Futures Group. A ⁠memorandum between ⁠the U.S. and Iran to halt the war in the Gulf could be signed as soon as Sunday, a Western source told Reuters on Friday, with Geneva emerging as the likeliest venue. Iran's Fars news agency, however, citing a source close to the negotiations, denied that speculation. U.S. President Donald Trump called off his threatened air strikes on Thursday, while Iran's Mehr news agency reported that final negotiations on the memorandum would focus on nuclear and economic issues but would exclude discussions about Iran's missile programme. Iran's IRNA news agency, meanwhile, said nuclear talks would take place within ⁠a 60-day ‌period after a memorandum was signed. "Headlines are driving the market once again as confidence grows that an eventual deal will be struck and the Strait (of Hormuz) reopens," said Tamas Varga, an analyst ⁠at PVM Oil Associates. The caveat, however, is that global and regional oil stocks are still low and could drift lower, even with a deal, as it would take time to ensure uninterrupted oil flows, he added. On Thursday, Iran announced a complete closure of the strait, saying it would fire on any ship trying to pass through the waterway. Traffic through the strait, which normally carries a fifth of global oil and liquefied natural gas shipments, has been extremely limited as a result of the war. The U.S. military, however, said on social media that commercial ships continued to transit the waterway. "We ‌believe the market reaches an inflection point in late July if we do not see oil flows resuming before then," ING analysts said in a note. "This is when inventory levels and seasonally stronger demand push prices significantly higher towards $120-130 ⁠per barrel." Goldman Sachs lowered its 2027 average Brent forecast to $80 a barrel on higher supply and lower demand, but expects prices to exceed the 2025 average on stockpiling of OECD commercial oil stocks and a security premium for disruptions. The Organization of the Petroleum Exporting Countries lowered its forecast for 2026 world oil demand growth to 970,000 barrels per day on Thursday from a previous 1.17 million bpd - its second straight downward revision. The producer group also said consumption would eventually rebound. It expects oil demand in 2027 to rise by 1.73 million bpd, up 190,000 bpd from its previous forecast.

Brent crude falls as optimism rises strait of Hormuz could reopen over the weekendBusiness live – latest updatesGlobal oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran scheduled for the evening. Continue reading...

Global oil prices declined on Thursday after United States President Donald Trump announced that a potential peace agreement with Iran was nearing completion, easing concerns over a wider conflict in the Middle East. The development came after days of heightened tensions between Washington and Tehran, which had raised fears of renewed instability in the region […] Oil prices slide as Trump signals breakthrough in Iran peace talks

Oil prices dropped below $90 per barrel as US President Donald Trump announced a framework agreement with Iran, signaling an end to the conflict and the expected reopening of the Strait of Hormuz. This development follows a week of heightened tensions and Iran's earlier threat to close the vital shipping lane, which had previously kept oil prices elevated.

Oil slid to a two-month low after President Donald Trump said a peace deal with Iran could be signed as soon as the weekend following US military strikes that cast doubt over progress to end the war.

Oil Prices Extend Gains After Another Big Crude Draw, Cushing 'Tank Bottoms' Loom Oil prices are higher this morning on renewed fighting between the US and Iran (and Trump rhetoric), while API reported a major crude inventory draw (for an eighth week in a row). Additionally, in its monthly Short-Term Energy Outlook released on Tuesday, the Energy Information Administration (EIA) reported the closure of the Strait is depleting global inventories, keeping prices high. "Global oil markets remain highly volatile as very limited shipping traffic through the Strait of Hormuz has caused oil producers in the Middle East to reduce crude oil production by more than 11 million barrels per day (b/d) in May compared with pre-conflict levels. This drop in production has resulted in large global inventory draws to meet demand. Under our assumptions, we expect global oil inventories will fall by an average of 6.3 million b/d in 2Q26 and by 7.6 million b/d in 3Q26," the agency said. So this morning, all eyes are on the official data to see just how fast those inventories are depleting... API Crude -9.1MM Cushing -1.1MM Gasoline -1.2MM Distillates +1.3MM DOE Crude -7.23mm Cushing -801k Gasoline +186k Distillates -200k Following API's reported a huge crude draw, the official data showed a seventh straight week of crude inventory declines. Gasoline stocks saw a build for the second week in a row... Source: Bloomberg Cushing 'tank bottoms' are looming... Source: Bloomberg US gasoline stocks are barely off their lowest levels since 2014 for this time of year... Source: Bloomberg The Strategic Petroleum Reserve saw another huge drawdown this week for a total of 66.2 million barrels since the Iran 'mini-war' started (16% of the pre-war total)... Source: Bloomberg Rig counts continue to rise with US crude production just shy of record highs... Source: Bloomberg US crude and product exports dipped last week but remain notably elevated from pre-war levels... Source: Bloomberg WTI was hovering just below $90 ahead of the official data Despite the higher tensions, crude futures are down by more than a quarter since their peak at the end of April, aided by a combination of a plunge in Chinese imports to multiyear lows, record American oil exports and large releases of emergency reserves. The retreat is a sign that oil markets are, for now at least, coping with the disruption and physical markets look well supplied. “At the moment the market is trying to find some equilibrium,” Wael Sawan, Chief Executive Officer of Shell Plc, said on the sidelines of the Wall Street Journal CEO Council in London. “It’s more driven by short-term headlines. And so if I look at the reality, we’re of course drawing down on those inventories fast.” "While diplomatic efforts remain ongoing, the latest military exchanges have reintroduced a geopolitical risk premium into oil markets," Reuters quoted Priyanka Sachdeva, senior market analyst at Phillip Nova, as saying. Tyler Durden Wed, 06/10/2026 - 10:40

President Donald Trump has repeatedly said a deal with Tehran to reopen Hormuz is close, but such an agreement still has not materialized.

Oil prices dipped Tuesday as Iran and Israel paused attacks, easing immediate supply disruption fears. This followed a sharp rise on Monday amid renewed Middle East tensions. Despite the de-escalation, concerns linger over the Strait of Hormuz and Houthi actions impacting Red Sea shipping. OPEC+ agreed to boost output, but analysts doubt its effectiveness due to production struggles.

Oil prices climb despite pause in hostilities Oil prices moved slightly higher in early trading on Tuesday as investors assessed the risk of renewed conflict between Iran and Israel despite a recent pause in hostilities reportedly encouraged by US President Donald Trump. Brent crude futures rose 13 cents, or 0.14%, to $94.38 a barrel, while West Texas Intermediate (WTI) crude gained 11 cents, or 0.12%, to $91.41 a barrel. Traders continued to monitor developments in the Middle East after both sides signalled that further military action remained possible, raising concerns about potential disruptions to regional energy supplies and shipping routes.

Oil was steady after its first decline this week on optimism that talks between the US and Iran will see energy flows resume through the Strait of Hormuz.

BEIJING: Oil prices rose more than 2% in early trading on Monday after Israel ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group, despite a ceasefire announced more than six weeks ago. U.S. crude futures rose $2.17 or 2.48% to $89.53 a barrel as of 2312 GMT (Sunday). Brent futures rose $1.93 or 2.12% to $93.05 a ‌barrel. The stepped-up ⁠fighting, coming ⁠just after the U.S. hosted Israeli-Lebanon peace talks in Washington on Friday, dimmed expectations that the U.S. and Iran could soon announce an extension to their ceasefire agreement, which had driven Brent and WTI to settle up 1.8% and 1.7%, respectively, on Friday. The Israel-Lebanon conflict has been the broadest spillover of the Iran war. It started on March 2 when Hezbollah began firing rockets and drones across the border into Israel to back its ally Iran. The two sides reached a ceasefire ⁠in mid-April ‌but have continued to trade fire. U.S. President Donald Trump said on Friday that he would soon decide on a proposed deal to extend a ceasefire with Iran announced ⁠in early April, giving negotiators more time to seek a permanent end to the conflict and find a solution to the underlying dispute over Iran's nuclear program. Israel would be key to any such deal, and Iran has also said repeatedly that Hezbollah must be included. Meanwhile, concerns are rising about mines in key oil and gas shipping lane the Strait of Hormuz, IG analyst Tony Sycamore said in a note. That could slow the process of reopening the strait and mean that relief comes more slowly ‌for the oil market even after it is reopened. "Even if an agreement is reached, it won't deliver a flood of supply," Sycamore said. An Axios reporter said on X on Friday that Iran had ⁠dropped more mines in the strait earlier in the week, shortly after U.S. Defense Secretary Pete Hegseth said that attempts to lay more mines would be a violation of the ceasefire. Hormuz is a conduit for about a fifth of global oil and gas flows and Iran has effectively closed it since the conflict began with U.S. and Israeli strikes in February. Concerns over supply outweighed lacklustre economic data from China over the weekend, which showed stalling factory activity. This added to concerns the world's second-largest economy is losing momentum, weighed down by a contraction in exports and cost pressures.

It was a strong week for global markets as oil prices tumbled to their lowest levels in seven weeks, easing concerns over energy-driven inflation after reports suggested the United States, Israel and Iran were nearing a much-awaited peace deal agreement. Oil prices this weekBrent crude tumbled about 11% during the week, marking its steepest weekly decline in seven weeks, while U.S. West Texas Intermediate (WTI) fell more than 9%, its biggest weekly drop in six weeks. Both benchmarks touched their lowest levels since mid-April. On Friday, Brent crude futures for July, which expired on Friday, settled at $92.05 a barrel, down $1.66 or 1.8%. WTI crude futures closed at $87.36 a barrel, a decline of $1.54 or 1.7%.The three-month conflict involving the U.S. and Iran has repeatedly seen expectations of a potential resolution that could lead to the reopening of the Strait of Hormuz, a key shipping route through which roughly one-fifth of the world's oil and gas supplies pass. While both sides indicated that an agreement may be near, their descriptions of the proposed deal continued to differ.U.S. President Donald Trump once again urged Iran to immediately reopen the strait. The closure of the vital waterway has pushed energy prices higher across global markets. This week, trading has remained highly volatile, with both Brent and WTI swinging by as much as $6 on changing signals surrounding the possibility of the strait reopening.Geopolitical tensions escalated on Thursday after fresh U.S. strikes targeted an Iranian military facility overnight, despite ongoing diplomatic engagement between Washington and Tehran.Iran's Revolutionary Guards later claimed responsibility for a strike on a U.S. airbase, according to the semi-official Tasnim news agency. The location of the base was not disclosed.Where is oil headed?Market analysts noted that even if a ceasefire is agreed upon, restoring normal shipping activity through the Strait of Hormuz could take several months. Any damaged energy infrastructure may require an even longer period to return to full operation.Earlier this month, Saudi Aramco Chief Executive Officer Amin Nasser warned that disruptions in the Strait of Hormuz could postpone stability in global oil markets until 2027. He said nearly 100 million barrels of oil supply per week could be affected by continued disruptions. Saudi Aramco is the world's largest oil producer.Morgan Stanley described the oil market as being in "a race against time," saying the factors that have so far prevented a more pronounced rise in crude prices could begin to fade if the Strait of Hormuz remains closed through June.According to the brokerage, higher U.S. crude exports and softer demand from China have helped absorb part of the supply shock. However, it cautioned that an extended shutdown of the strait could tighten global oil supplies again if disruptions persist beyond the levels that the U.S. and China can comfortably offset.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Biggest monthly decline in Brent crude since 2020 comes amid signs US and Iran could be close to a deal

Oil fell as the US and Iran tentatively agreed to extend a ceasefire by 60 days. Brent is set for its biggest monthly drop since 2020 on optimism that flows through the Strait of Hormuz may resume. Bloomberg's Stephen Stapczynski reports. (Source: Bloomberg)

Oil prices dipped Friday as traders reacted to reports of a potential 60-day extension to a US-Iran ceasefire, which could ease restrictions on the Strait of Hormuz. While US Vice President Vance indicated a deal is close, sticking points remain, and renewed tensions on the ground underscore the ceasefire's fragility.

Renewed US attacks on Iran targets near the Strait of Hormuz threaten a fragile ceasefire. Oil climbed as traders wait for signs of whether the US and Iran can reach a peace deal that would reopen the critical waterway. (Source: Bloomberg)

Oil prices rose about 2% in early trading on Thursday after fresh U.S. strikes on an Iranian military site overnight heightened geopolitical tensions, even as Washington and Tehran continued talks aimed at ending their three-month conflict.This is US' second strike in quick succession. Earlier this week, the U.S. military carried out “self-defense strikes in southern Iran”, targeting vessels allegedly attempting to deploy mines along with missile launch sites. U.S. Central Command said the operation was aimed at protecting American troops from threats posed by Iranian forces.Iran’s Islamic Revolutionary Guard Corps responded that it would respond to violations of the ceasefire after identifying and engaging U.S. drones and an F-35 fighter jet that had entered Iranian airspace.Crude oil price on May 28Brent crude futures climbed $1.90, or 2.02%, to $96.19 a barrel. The more active August contract advanced $1.64, or 1.78%, to $93.89, while the July contract is scheduled to expire on Friday. U.S. West Texas Intermediate crude futures gained $1.73, or 1.95%, to trade at $90.41.The rebound came a day after both benchmarks had dropped more than 5% to their lowest levels in over a month on expectations that a potential U.S.-Iran agreement could bring an end to the conflict and lead to the reopening of the Strait of Hormuz.A U.S. official said the latest strikes targeted an Iranian military facility believed to pose a threat to American forces and commercial maritime traffic moving through the strait.In a note released late Wednesday, Citi said oil markets were stabilising as investors gradually moved away from pricing in severe supply disruption risks amid signs of progress in negotiations between Washington and Tehran.However, the bank said uncertainty around the timing of any agreement continued to keep central banks cautious, as policymakers assessed the inflationary impact of elevated energy prices.Citi added that the sustained rise in crude prices was starting to feed into wider inflation pressures through what it described as “second round effects”, pushing some central banks toward a more hawkish stance.Swiss investment bank UBS said on Friday that pressure on the global oil market was intensifying as inventories continued to shrink amid disruptions to shipments through the Strait of Hormuz. The bank noted that global oil inventories declined by a combined 246 million barrels in March and April, while cumulative production losses could exceed 1 billion barrels by the end of May.Analysts said that even if a deal is reached, shipping activity through the strait may take several months to normalise and damaged energy infrastructure could require more time to recover fully.Earlier this month, Saudi Aramco CEO Amin Nasser warned that disruptions in Hormuz could delay stability in global oil markets until 2027, with nearly 100 million barrels of oil supply per week potentially impacted. Saudi Aramco is the world’s largest oil producer.Morgan Stanley described the current oil market as being in “a race against time”, saying the factors that have so far prevented a sharper rise in crude prices may weaken if the Strait of Hormuz remains shut through June.The brokerage said higher U.S. crude exports and softer demand from China had helped absorb part of the supply shock. However, it cautioned that an extended closure of Hormuz could tighten global supplies again if disruptions continue beyond what the U.S. and China can comfortably offset.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Oil prices saw a dip as hopes for a US-Iran deal to ease Middle East tensions and reopen the Strait of Hormuz emerged. Despite earlier drops, crude prices are recovering slightly. President Trump emphasized his focus on preventing Iran's nuclear ambitions and ensuring the Strait's accessibility, warning against interference.

Oil edged higher as the US and Iran remained at odds over how to reopen the Strait of Hormuz, with the war entering its fourth month.

Traders continue to bet that a resolution to end the US-Israel-Iran war is near.

Brent crude rebounds after US and Israeli jets struck Iranian vessels in the Strait of Hormuz, just hours after President Trump suggested peace talks were progressing. Katrina Dudley of Franklin Templeton discusses inflation risks and consumer pressure. (Source: Bloomberg)

Crude remains dramatically elevated from prewar levels after surging more than 30% since US, Israel launched strikes against Iran in late February.

Oil futures slid on Monday as traders assessed US President Donald Trump's announcement over the weekend that a deal with Iran had been "largely negotiated". The benchmark Brent crude still remains much higher than when the war started on February 28. Also in this edition: some commercial vessels are managing to cross the Strait of Hormuz. Plus, Ferrari is set to launch its first fully electric supercar model.

Oil prices dropped significantly as markets reacted to optimism surrounding a potential US-Iran peace deal, despite President Trump urging negotiators not to rush. Key issues like the Strait of Hormuz and frozen assets remain unresolved, tempering expectations for an imminent breakthrough in the ongoing conflict.

Trump said on Saturday that a deal would include the reopening of the Strait of Hormuz, without giving further details.

Oil dropped at the week’s open as the US and Iran edged towards a deal, although US President Donald Trump said Washington’s blockade of the Strait of Hormuz would remain until an agreement was completed. Global crude benchmark Brent fell as much as 4.2 per cent to US$99.16 a barrel, after declining more than 5 per cent last week, while West Texas Intermediate was near US$92. Trump said in social-media posts he would not “rush” into a deal, which “isn’t even fully negotiated yet”. Any final...

Oil dropped as the US and Iran edged toward a deal, although President Donald Trump said that Washington’s blockade of the Strait of Hormuz would remain until an agreement was completed.

Oil prices climbed on Friday, as investors worried that the U.S. and Iran would be unable to reach a peace agreement that would allow shipping traffic to return to normal in the Strait of Hormuz. Brent crude futures settled at $103.54 a barrel, up 96 cents, or 0.94%. U.S. West Texas Intermediate futures finished at $96.60 a barrel, up 25 cents or 0.26%. Both had risen over 3% earlier in the session. On a weekly basis, Brent was 5.48% lower and WTI was down by 8.37%, with prices volatile as expectations for a peace deal between Iran and the ‌U.S. shifted. "We have so ⁠many headlines ⁠back and forth, it's hard to keep up," said Phil Flynn, senior analyst with Price Futures Group. "The story now is Iran will deliver the uranium for the lifting of sanctions. But they keep changing the news before the ink is dry on the newspaper." A diplomatic source in Islamabad told Iran's state news agency IRNA that Pakistan's army chief had left for Iran. A senior Iranian source told Reuters earlier that gaps with the U.S. have narrowed, and U.S. Secretary of State Marco Rubio spoke of "some good signs" in talks. "There's been some progress. I wouldn't exaggerate it. I wouldn't diminish it," Rubio told reporters after a NATO ministers' meeting in Sweden. "There's more work ⁠to be ‌done," he added. "We're not there yet. I hope we get there." Rubio said the U.S. was in constant communication with the Pakistanis who are facilitating the talks with Iran. The countries remained divided on Tehran's uranium stockpile and controls on the ⁠Strait of Hormuz. "I think we're very much subject to the headlines," said John Kilduff, partner with Again Capital. "We seem headed for a resolution, but the level of clarity is spectacular." Rubio also said the U.S. had not requested the assistance of NATO allies in reopening the strait. Global oil inventories have been depleting at an alarming pace as oil flows via the Strait of Hormuz slow to a trickle, said PVM Oil Associates analyst Tamas Varga. "The optimism of a relatively imminent truce and bearish rhetoric whenever Brent approaches $110 prevents oil prices from rallying significantly higher," he said. Separately, a Qatari negotiating team arrived in Tehran on Friday in coordination with the U.S. to help secure a deal, a source with knowledge of the ‌matter told Reuters on Friday. Six weeks into the fragile ceasefire in the U.S.-Israeli war with Iran, elevated oil prices have investors worried about inflation and the outlook for the global economy. BMI, a unit of Fitch Solutions, has raised its average 2026 dated Brent price forecast to $90 ⁠from $81.50 to reflect the supply deficit, time required to repair damaged Gulf energy infrastructure, and a six- to eight-week post-conflict normalization window. Around 20% of global energy supplies transited the strait before the war, which has removed 14 million barrels per day of oil - or 14% of global supply - from the market, including exports from Saudi Arabia, Iraq, the UAE and Kuwait. Full oil flows through the strait will not return before the first or second quarter of 2027, even if the conflict ends now, the head of UAE state oil firm ADNOC said. Seven leading OPEC+ oil-producing countries will likely agree to a modest hike to July output when they meet on June 7, four sources said, though delivery for several remains disrupted by the war.

Nearly three months since the fighting began, disagreements remain over the fate of Iran’s uranium stockpile and transit fees for the Strait of Hormuz.

Oil prices climbed again on Friday after falling for three consecutive sessions, as investors assessed conflicting signals around ongoing Iran peace negotiations.Although recent comments from the U.S. suggested that a deal could be close, reports indicating that Iran wants to retain its enriched uranium domestically have renewed concerns that the conflict may drag on, prolonging disruptions to oil supplies.Crude oil price on May 22Brent crude futures for July delivery rose 1.9% to $104.52 a barrel in early Asian trade, while U.S. West Texas Intermediate crude for June gained 1.5% to $97.81 per barrel.According to Reuters, Iran’s Supreme Leader Ayatollah Mojtaba Khamenei has directed that the country’s near-weapons-grade uranium should not be transferred abroad. The report, citing Iranian sources, came shortly after U.S. President Donald Trump said Washington was in the “final stages” of negotiations with Iran, according to a pool report.Supply concerns also remained in focus after the International Energy Agency warned that oil markets could soon enter a “red zone” as summer travel demand rises and global inventories continue to shrink.IEA Executive Director Fatih Birol said the full and unconditional reopening of the Strait of Hormuz would be the most important step in easing the energy shock caused by the Iran war. He added that developing economies in Asia and Africa are likely to suffer the “biggest pain of this crisis.”The Iran war, which began in late February, has severely affected traffic through the Strait of Hormuz, a key route that previously handled nearly a fifth of global oil and liquefied natural gas flows.Echoing the same view as IEA director, Morgan Stanley suggests that the oil market is in “a race against time,” warning that the factors keeping crude prices from rising further may fade if the Strait of Hormuz remains shut into June.Morgan Stanley also said higher U.S. crude exports and softer Chinese imports have helped cushion the market from a deeper supply shock so far. However, the brokerage warned that a prolonged closure of Hormuz could once again tighten global supplies if disruptions continue beyond what China or the United States can absorb comfortably. Haitong Futures said markets remain cautious and warned that the ceasefire may not hold for long. The brokerage added that stalled negotiations between Washington and Tehran could trigger another round of escalation and push oil prices even higher.Earlier this month, Saudi Aramco CEO Amin Nasser said that disruptions to shipments through Hormuz could delay stability returning to oil markets until 2027, with around 100 million barrels of oil supply per week potentially affected. Aramco is the world’s largest oil-producing company.The U.S.-Israeli conflict with Iran has effectively shut the Strait of Hormuz, a route that normally handles around one-fifth of global oil supplies. To offset supply shortages caused by the conflict, countries have increasingly turned to commercial and strategic oil reserves.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

BEIJING: Oil prices rebounded on Thursday after two days of losses on outstanding supply concerns because of the uncertain outlook for an end to the Iran war and a U.S. inventory draw raised worries about the depletion of global stockpiles. Brent crude futures rose 81 cents, or 0.77%, to $105.83 a barrel by 0055 GMT, and U.S. West Texas Intermediate futures were up 97 cents, or 0.99%, at $99.23. Both benchmarks dropped more ‌than 5.6% on ⁠Wednesday after ⁠U.S. President Donald Trump said negotiations with Iran were in the final stages, but he also threatened further attacks if it did not agree to a peace deal. Iran warned against further attacks and announced steps entrenching its control of the crucial Strait of Hormuz waterway, which before the war carried oil and liquefied natural gas shipments equal to about 20% of global consumption but has been mostly closed. "The sharp drop in oil prices appears to be pricing in the possibility of a breakthrough in the ⁠talks," said ‌Yang An, analyst at Haitong Futures. "However, if Trump insists on making no concessions to Iran, an agreement seems unlikely, and the final outcome of the negotiations could reverse sharply," ⁠Yang said. On Wednesday, Iran announced a new "Persian Gulf Strait Authority," saying there would be a "controlled maritime zone" in the Strait of Hormuz. Iran effectively closed the strait in retaliation to U.S. and Israel attacks that started the war on February 28. Most of the fighting has stopped since an April ceasefire but while Iran is limiting traffic through Hormuz, the U.S. has blockaded its coastline. The supply losses from the key Middle Eastern region because of the war have forced countries to pull from their commercial and strategic inventories at a rapid rate, ‌raising concerns about draining them. The U.S. Energy Information Administration said on Wednesday the country withdrew nearly 10 million barrels of oil from its Strategic Petroleum Reserve last week, the biggest drawdown on record. The EIA also ⁠said commercial crude inventories fell by 7.9 million barrels to 445 million barrels last week, compared with analysts' expectations in a Reuters poll for a 2.9 million-barrel draw. Gasoline inventories fell by 1.5 million barrels, while distillates rose by 372,000 barrels. "The drawdown in oil inventories will make it difficult for oil prices to remain low," said Mingyu Gao, chief researcher for energy and chemicals at China Futures. "With the Strait of Hormuz blocked, global refined-product and onshore crude inventories are expected to fall below their lowest levels for this time of year in the past five years by late May and late June," Gao said.

Prices drop 6% but president warns of further attacks unless Iran agrees to a dealOil prices fell 6% on Wednesday after Donald Trump said that negotiations with Iran were in the final stages, though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues.Brent crude futures fell $6.64, or 5.97%, to $104.64 a barrel by 1.45pm ET and US West Texas Intermediate futures were down $6.49, or 6.23%, at $97.66. Continue reading...

Oil fell for a second day as traders weighed US President Donald Trump’s latest threat to resume strikes on Iran.  Paul Sankey, Founder of Sankey Research, discusses the outlook for gasoline prices heading into the summer as the Strait of Hormuz remains shuttered. (Source: Bloomberg)

On Tuesday, the Strait of Hormuz saw “one of the busiest days since the closure.”

Oil prices fall after Trump pauses planned Iran attack Oil prices dropped by more than one percent after US President Donald Trump said he had paused a planned attack on Iran to allow negotiations aimed at ending the US-Israeli war on Iran. Brent crude futures fell to just above $110 a barrel following the remarks, while US oil futures dropped to $103 a barrel. Markets are closely watching talks between Washington and Tehran amid concerns over the continued closure of the Strait of Hormuz. Before the disruption, the waterway handled roughly one-fifth of global oil and liquefied natural gas supplies each day.

Asian markets were mixed Tuesday as oil prices eased on hopes of a US-Iran deal, though elevated crude levels capped investor appetite for risk.Energy markets held centre stage after US President Donald Trump signalled "serious negotiations" with Tehran and called off planned strikes, boosting optimism that tensions could.The war the United States and Israel launched February 28 has led to an effective blockade of the Strait of Hormuz, through which around 20 percent of global oil exports passed in peacetime.

Oil prices dipped Tuesday as President Trump announced a pause on planned attacks against Iran, opening doors for potential talks. This development comes amid ongoing Middle East tensions that have disrupted the crucial Strait of Hormuz, impacting global supply. Consequently, fuel prices in India saw another hike, with petrol and diesel rates increasing significantly.

Oil dropped in early Asia trading after President Donald Trump said he was holding off on fresh military strikes, boosting hopes for a deal that could end the war and revive energy flows through the Strait of Hormuz.

Energy markets have been on a wild ride as the key Strait of Hormuz waterway remains effectively closed.

Oil rose for a third day as the US and Iran remained far apart on a deal to end weeks of war and reopen the crucial Strait of Hormuz.

Oil prices flared up as much as 8% this week, ending Friday's session over 3% higher after remarks from U.S. President Donald Trump and Iran’s foreign minister weakened hopes of a near-term agreement to end ship attacks and seizures around the Strait of Hormuz. Iranian Foreign Minister Abbas Araqchi said on Friday that Tehran has “no trust” in the United States and would engage in negotiations only if Washington showed seriousness. He added that Iran remains ready both for renewed conflict and for diplomatic solutions.Crude oil price this weekBrent crude futures settled at $109.26 a barrel, rising $3.54 or 3.35%, while U.S. West Texas Intermediate crude ended at $105.42 a barrel, up $4.25 or 4.2%. For the week, Brent advanced 7.84%, and WTI gained 10.48%, as uncertainty surrounding the fragile ceasefire in the Iran war continued to keep markets on edge.Trump, meanwhile, said he was losing patience with Iran and had agreed with Chinese President Xi Jinping that Iran cannot be allowed to develop a nuclear weapon and must reopen the Strait. Nearly one-fifth of the world’s oil and liquefied natural gas flows through the Strait of Hormuz, which serves as the main export route for Gulf producers including Saudi Arabia, Iraq and Qatar.The rhetoric between Washington and Tehran turned increasingly confrontational once again. Although the ceasefire remains in place, expectations of a quick reopening of the Strait of Hormuz have diminished sharply.Trump also concluded his visit to China. While Chinese President Xi Jinping did not publicly comment on discussions with Trump regarding Iran, China's foreign ministry issued a statement saying, “This conflict, which should never have happened, has no reason to continue.”Among the outcomes the market had been watching for from the U.S.-China summit, Trump said China agreed that Iran can’t possess a nuclear weapon. Tensions also flared between the two when Xi said the US and China’s relation could be in great jeopardy if the Taiwan issue wasn’t resolved. Where are prices headed?Analysts at Morgan Stanley said the global oil market is now in “a race against time,” warning that the factors limiting a sharper rise in crude prices may weaken if the Strait of Hormuz stays shut into June.Despite disruptions impacting nearly 1 billion barrels of oil supply, crude prices are still below the highs reached in 2022 after Russia’s invasion of Ukraine. Analysts led by Martijn Rats said the market entered the current crisis with stronger supply buffers, while investors largely continue to believe the strait will eventually reopen.Morgan Stanley added that higher U.S. crude exports and softer Chinese imports have so far helped shield the market from a deeper supply shock. However, the brokerage warned that a prolonged closure of Hormuz could once again tighten global supplies if disruptions continue beyond what either China or the United States can manage comfortably.Haitong Futures said markets remain cautious and warned the ceasefire may only be temporary. The brokerage added that stalled negotiations between Washington and Tehran could trigger another escalation, pushing oil prices even higher.Saudi Aramco CEO Amin Nasser said Monday that disruptions to shipments through Hormuz could delay the return of stability to oil markets until 2027, potentially affecting around 100 million barrels of oil supply every week.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Global oil prices surged as President Trump expressed impatience with Iran, fueling fears of Strait of Hormuz disruptions. Brent and WTI crude saw significant weekly gains amid uncertainty over the Iran conflict and supply concerns. Despite claims of increased vessel crossings, the Strait remains a critical choke point, with maritime incidents further heightening market anxieties about tight supply.

Oil prices saw a slight uptick as traders awaited crucial talks between US President Trump and China's Xi Jinping. Lingering concerns over the Strait of Hormuz disruptions and the ongoing Middle East conflict are keeping markets on edge. Despite US pressure, China's continued reliance on Iranian oil adds complexity to potential resolutions.

LONDON, United Kingdom (AFP) — Oil prices rallied and stock markets fell Tuesday as investors braced for further volatility after talks appeared to stall on ending the war in the Middle East and re-opening the Strait of Hormuz to tanker and cargo ship traffic. Iran's chief negotiator said Tuesday that Washington must accept Tehran's latest peace plan or face failure, after United States President Donald Trump warned the truce in the Middle East war was on the brink of collapse. Rising crude futures were also pushing up government bond rates, including in Britain, where political uncertainty soared as Prime Minister Keir Starmer clings to power, analysts said. "Oil prices are rising again, and global bond markets are pricing in inflation risks," said Kathleen Brooks, research director at XTB trading group. "The UK yields are facing a double whammy of an energy price spike and a political crisis," she added. The yield on the country's 30-year bonds reached 5.814 per cent Tuesday, the highest level since 1998. The 10-year rate hit 5.135 per cent, a peak last seen during the 2008 global financial crisis. On oil markets, the international benchmark Brent North Sea crude shot up more than 3.5 per cent, and the main US contract, West Texas Intermediate, rose nearly four percent. Europe's main stock markets were in the red in midday deals after losses for some major Asian indices. South Korean calls for a social tax on artificial intelligence profits largely dragged down the tech-rich Kospi index by five per cent. South Korea is riding a chip boom driving massive earnings for tech giants Samsung and SK hynix, which had sent the Kospi to record highs in recent weeks. The dollar strengthened after US stocks held modest gains Monday as enthusiasm about artificial intelligence managed to offset concerns over high oil prices. The Middle East war, which erupted more than two months ago with US-Israeli strikes on Iran, has spread throughout the Middle East and roiled the global economy despite a ceasefire. The impasse leaves the vital Strait of Hormuz mostly closed to oil tanker traffic, though investors still hope a deal will be reached soon to avoid long-term disruptions to energy markets. Traders are now looking to Beijing, where Trump lands this week to meet with President Xi Jinping, the first visit by a US president since his own in 2017. Taiwan, tariffs, rare earths and the war in Iran are set to top the agenda, with China a major buyer of Iranian crude. Top executives including Tesla boss Elon Musk and Apple's Tim Cook will fly in to back Trump's push to ramp up trade with Beijing.

Oil steadied as US President Donald Trump cast doubt over the ceasefire with Iran after rejecting Tehran’s latest peace offer, prolonging the effective closure of the vital Strait of Hormuz.

Trump's repudiation of Iran's response to his latest peace proposal raised the likelihood of further violence and disruptions to oil supplies through the Strait of Hormuz. The post Oil prices rise as Trump rejects Iran’s terms appeared first on Vanguard News.

Oil prices are rising today, after US President Donald Trump dismissed Iran’s latest terms to end the war, sparking fears of a fresh escalation in the conflict that would keep the vital Strait of Hormuz shuttered for even longer. Brent crude, the global oil benchmark, was up 2.9 percent to $104.2 a barrel. WTI, the … The post Oil prices climb after Trump rejects Iran’s peace proposal appeared first on Egypt Independent.

SINGAPORE — Oil prices rallied on Monday, a day after President Donald Trump said Iran's response to a U.S. proposal was "unacceptable," raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight. Brent crude futures climbed $4.04 or 3.99 percent to $105.33 a barrel at 0614 GMT. U.S. West Texas Intermediate was at $99.85 a barrel, up $4.43, or 4.64 percent. Last week, both contracts recorded 6 percent weekly losses on hopes for an imminent end to the 10-week-old conflict that would allow oil transit through the Strait of Hormuz. "The oil market continues to trade like a geopolitical headline machine, with prices swinging sharply based on every comment, rejection, or warning coming from Washington and Tehran," said Priyanka Sachdeva, senior market analyst at Phillip Nova. Trump is scheduled to arrive in Beijing on Wednesday and is expected to discuss Iran among other topics with Chinese President Xi Jinping, according to U.S. officials. "Market attention now shifts squarely to President Trump’s visit to China this week," IG market analyst Ton

Oil surged after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz. Bloomberg's Anthony di Paola has more. (Source: Bloomberg)

Oil prices rallied on Monday, after US President Donald Trump said Iran’s response to a US proposal was “unacceptable,” raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight. Brent crude futures climbed $4.16 or 4.11 per cent to $105.45 a barrel at 0340 GMT. US West Texas Intermediate was at $99.80 a barrel, up $4.38, or 4.59pc. Last week, both contracts recorded 6pc weekly losses on hopes for an imminent end to the 10-week-old conflict that would allow oil transit through the Strait of Hormuz. “The oil market continues to trade like a geopolitical headline machine, with prices swinging sharply based on every comment, rejection, or warning coming from Washington and Tehran,” said Priyanka Sachdeva, senior market analyst at Phillip Nova. Trump is scheduled to arrive in Beijing on Wednesday and is expected to discuss Iran, among other topics, with Chinese President Xi Jinping, according to US officials. “Market attention now shifts squarely to President Trump’s visit to China this week,” IG market analyst Tony Sycamore said in a note. “There is hope he can persuade Beijing to leverage its influence over Iran to push for a comprehensive ceasefire and a resolution to the ongoing disruption in the Strait of Hormuz.” The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilise even if flows resume, Saudi Aramco CEO Amin Nasser said on Sunday. Another two tankers carrying crude exited the Strait of Hormuz last week with trackers switched off to avoid Iranian attacks, Kpler shipping data showed, underscoring a rising trend to sustain Middle East oil exports. “Even if the acute oil shock fades by late 2026, the ongoing risk of renewed disruption in the Strait of Hormuz, depleted inventories and weaker policy coordination is expected to keep a geopolitical risk premium embedded in prices,” ING analysts wrote in a note on Monday. They expected Brent to remain above $90 per barrel through 2026 and around $80 to $85 per barrel into 2027 as demand growth resumes and inventories are gradually rebuilt.

Oil prices surged as President Trump rejected Iran's peace proposal, reigniting fears over global energy supply routes. Hopes for breakthrough talks faded, shifting market attention to Trump's upcoming visit to Beijing. Saudi Aramco warned of significant oil market losses, while tankers navigated the Strait of Hormuz with tracking systems off.

The Strait of Hormuz trade route remains effectively shut, disrupting the global energy shipments.

Oil surged after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz.

Iran has said it is reviewing the latest American proposals on ending the war, as US President Donald Trump threatened the country with a new wave of bombing unless a deal is reached that includes reopening the crucial Strait of Hormuz to international shipping. Hope that the two-month conflict could soon end buoyed international markets on Thursday, despite the US military firing on an Iranian oil tanker attempting to breach an American blockade of Iran's ports Wednesday. The price of Brent crude oil stabilized at around $100 a barrel as investors waited to see whether the strait would reopen, allowing tankers to deliver oil from the Persian Gulf again. Trump posted on social media that the two-month war could soon end and that oil and natural gas shipments disrupted by the conflict could restart. But he said that depends on Iran accepting a reported agreement that he did not detail. "If they don't agree, the bombing starts," Trump wrote. A fragile ceasefir e between the US and Ir

US president briefly pauses ‘Project Freedom’ operation escorting ships through strait of HormuzBusiness live – latest updatesOil prices have eased and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, while momentum in AI-driven trading accelerated.The US president said he would briefly pause his “Project Freedom” operation escorting ships through the strait of Hormuz, which carries about a fifth of the global oil supplies and has been blockaded by Iran since late February, triggering an energy crisis. Continue reading...

Trump announces he is temporarily pausing his initiative to guide ships out of the crucial waterway

President Donald Trump raised hopes of an agreement between the US and Iran after days of escalation.

Trump said on Tuesday while the operation to reopen the Strait of ‌Hormuz will be paused, the blockade will remain in force

Oil prices fell after Trump said the U.S. would pause its naval escort endeavor in the Strait of Hormuz, raising hopes of a potential deal with Iran. 

MELBOURNE — U.S. oil futures fell on Wednesday morning by over $2 after U.S. President Donald Trump said an operation to reopen the Strait of Hormuz will be paused for a short period to see whether an agreement can be finalised and signed. U.S. West Texas Intermediate was down $2.23, or 2.18 percent, to $100.04 per barrel as of 2326 GMT. Trump said on Tuesday while the operation to reopen the Strait of Hormuz will be paused, the blockade will remain in force. WTI closed down 3.9 percenton Tuesday after the ceasefire held despite reported exchanges of fire, while Brent fell 4 percent to close at $109.87. U.S. crude oil inventories fell for the third straight week, while gasoline and distillate stocks also declined, market sources said, citing American Petroleum Institute figures on Tuesday. Crude stocks fell by 8.1 million barrels in the week ended May 1, the sources said on condition of anonymity. Gasoline inventories fell by 6.1 million barrels, while distillate inventories fell by 4.6 million barrels compared to a week earlier, the sources said.

Crude-oil futures fell late Tuesday after President Donald Trump said his latest effort to partially reopen the Strait of Hormuz would be paused, to buy more time to reach an agreement to end hostilities with Iran.

The US president said that while the operation to reopen the Strait of Hormuz will be paused, the blockade will remain in force.