All articles tagged with #brent
Oil prices jumped about 3% as Middle East attacks continued and Saudi Arabia’s East-West Pipeline remained shut, fueling fears of a broader supply disruption; with Houthi advances and stalled diplomacy around Hormuz and Bab el‑Mandeb, traders expect prices to climb until pipeline throughput and regional talks offer clearer visibility.
Oil prices rose on escalating U.S.-Iran tensions, with U.S. forces destroying five Iranian crude tankers after attempted attacks on a warship. WTI futures around $94.66 and Brent about $99.44 reflected supply-disruption risks, and Goldman Sachs warned that intensified shipping attacks raise the odds of Brent topping $120 if exports fail to recover.
Brent crude climbed toward $99 and U.S. WTI above $94 as renewed U.S.-Iran tensions and attacks near Kharg Island heighten supply fears, following earlier strikes on Iranian tankers and Saudi infrastructure. Analysts warn of further upside if Gulf flows remain tight, with forecasts ranging from about $95 by year-end to $120+ in a prolonged conflict. The turmoil also lifted gas prices and pushed bond yields higher as markets price energy risk and inflation, while key shipping routes like Hormuz and Bab el Mandeb stay constrained.
Oil prices fell as investors awaited details of the US government’s toughest-ever sanctions campaign against Iran, with WTI around $85.9 and Brent about $93 as Treasury officials prepared to unveil a new package; Iran said it could counter the pressure, while analysts warned volatility could persist and noted a potential Brent range of $70-$100 in H2 2026 depending on Hormuz flow and Tehran’s response.
Brent crude fell for a fifth straight session to below $79 as markets price in a US‑Iran deal to reopen the Strait of Hormuz, potentially boosting supply; WTI hovered around $76. A 14‑point draft memorandum outlines waivers for Iranian exports and steps to move merchant ships, signaling a gradual resumption of Hormuz traffic. The broader pullback comes as near‑term supply loosens, with US inventories down about 8.3 million barrels, gasoline prices easing, and traders weighing implications for inflation and the Federal Reserve meeting.
Brent crude fell below $80 a barrel for the first time in more than three months as a US-Iran deal to reopen the Strait of Hormuz boosts expectations of more supply, with banks trimming Brent forecasts and traders pricing in increased Middle East output and a release of millions of barrels stored in tankers.
Oil prices fell about 5% to seven-week lows after Iran and Israel halted attacks following a Trump appeal, with Brent around $89.95 a barrel and WTI about $86.35. Traders cited ceasfire hopes and ongoing tensions, including Iran’s threats to resume hostilities and continued shipping disruptions through the Strait of Hormuz, as factors. Analysts noted shifting supply-demand dynamics, with the EIA forecasting lower 2026 world petroleum production and demand, while markets await API/EIA storage data and China’s weak crude imports.
Oil prices edged lower after Oman said Mina al Fahal port operations were proceeding normally, easing concerns from an explosion that had prompted reports of suspended loadings. Brent dipped to about $94.79 a barrel and WTI around $92.48, with both set for their first weekly gain in three weeks as Middle East tensions and Hormuz traffic remain in focus. OPEC kept its 1.2 million bpd oil-demand growth forecast for the year, while Iranian exports stay depressed due to naval blockades.
Oil prices slipped to a two-week low as investors priced in progress toward a U.S.–Iran peace deal, with Brent around $98.90 a barrel and WTI about $92, while blockades in the Strait of Hormuz continue to constrain supply. Trump said there’s no rush into a deal, suggesting near-term relief may be limited, and analysts say it could take months for flows to normalize even if a deal advances.
U.S. crude traded under $100 a barrel after President Trump said talks with Iran are in the final stages, with WTI around $97.74 and Brent near $104.62; analysts warn Hormuz disruptions could keep prices volatile, though a quick peace that reopens the strait could ease prices later in the year.
Oil prices climbed after President Trump said the Iran ceasefire was 'life support' and dismissed Tehran's latest offer as 'garbage,' dimming hopes for a quick deal to reopen the Strait of Hormuz. Brent traded around $107.77 a barrel and WTI near $102.18 as analysts warned that reopening Hormuz by force could be costly and that the market could stay volatile or take years to normalize if the strait remains closed, keeping prices elevated through 2027.
Oil prices rose to their highest level since the US-Iran ceasefire began, with Brent crude trading around $107.50 a barrel as ongoing Hormuz Strait tensions and reduced Gulf production keep supply tight and market nerves frayed, despite a brief extension of the ceasefire and no clear path to a long-term peace deal.
Oil prices oscillated after Trump extended a fragile Iran ceasefire, keeping markets unsure about de-escalation and supply risk. Brent traded near $99.8 and WTI near $90.9 as mixed signals from Tehran and Washington persisted, with the U.S. blockade of Iranian ports continuing and Iran signaling talks in Pakistan may be unproductive, underscoring a fragile outlook for energy markets around the $100 per barrel level.
Oil futures look poised to rise at the week’s start, with WTI topping $102 a barrel and Brent approaching $114.50, supported by weekend gains and bets on higher prices. Analysts warn that a sustained move above $102.25 for WTI could trigger a bullish leg toward about $111–$124, while a break below $85.50 would open downside toward $81–$73.
Goldman Sachs raised its oil-price forecast, projecting Brent at about $85/bbl and WTI at about $79/bbl for this year, citing a peak supply disruption of around 17 million barrels per day from the Strait of Hormuz situation. The bank assumes tanker disruptions will last six weeks with shipments gradually recovering within a month, though some observers warn the disruption could persist longer. At publication, Brent traded near $112.69/bbl and WTI near $99.60/bbl.