9 articles tagged with “oil markets”
Iran attacked commercial vessels in the Gulf and threatened oil supply disruptions through the Strait of Hormuz, forcing G7 nations to tap strategic reserves as diplomatic fallout spreads.
International Energy Agency member states approved a historic coordinated release of 400 million barrels from strategic petroleum reserves following attacks on oil tankers in Iraqi waters and escalating regional conflict involving Iran and Gulf states.
Iran has vowed to block Gulf oil shipments through the Strait of Hormuz as the 11-day conflict with the US and Israel intensifies, prompting diplomatic intervention from the EU and triggering global economic ripples.
Pentagon confirms heaviest airstrikes yet on Tehran while UN warns of cascading crises across the Middle East and global markets register volatile responses to escalating conflict.
The US Congress is set to vote this week on measures to curb President Trump's war-making authority as military operations against Iran expand across the Middle East, though Republican majorities are expected to block the efforts.
Joint US-Israeli airstrikes hit facilities housing Iran's supreme leader election process, whilst Britain cuts growth forecasts and African nations bolster security amid escalating Middle East tensions.
US commercial crude stocks climbed to 435.8 million barrels while major producers including Occidental and EOG Resources adjust capital expenditure strategies, signaling cautious optimism despite ongoing US-Iran diplomatic tensions.
Continued nuclear negotiations between Washington and Tehran provide near-term price stability, though deployment of a second US carrier group to the Middle East reintroduces geopolitical risk calculations for crude benchmarks.
Continued US-Iran diplomatic engagement provides cautious optimism for energy markets, but the deployment of a second US aircraft carrier to the Middle East threatens to reintroduce geopolitical risk premiums into crude pricing.