All articles tagged with #brent crude
Oil prices jumped with Brent crossing $80 after Trump said the US-Iran deal is “over” and threatened a Hormuz blockade, with US strikes on Iran and recent vessel attacks fueling supply‑disruption fears through the Strait of Hormuz; WTI moved near $76 as markets priced in heightened geopolitical risk and sanctions dynamics.
Brent crude rose as much as 3% to around $76 a barrel after the US struck Iran and revoked a sanctions waiver, reversing a slide to pre-war levels as tensions in the Strait of Hormuz flared; US, Qatar and Saudi officials blamed Tehran for attacks on vessels, while Iran warned of decisive action and analysts said prices could stay elevated as supply risks persist and emergency stockpiles wind down.
Oil futures headed toward a fourth straight weekly loss as the Strait of Hormuz reopens and higher flows ease near-term supply concerns; Brent traded in the low $70s and WTI under $70, with markets weighing a U.S.–Iran MoU to negotiate a deal and rising Gulf shipments, suggesting bearish sentiment but possible oversold conditions.
Oil prices are on track for the steepest quarterly decline since the COVID-19 crash, with Brent around $70 as hopes for sustained Hormuz access erase much of the geopolitical risk premium; markets imply about a 20% monthly drop and a 30% quarterly plunge, though analysts warn that renewed disruptions remain a risk.
Oil prices tumbled roughly 10% for the week, with Brent around $72 as markets bet Strait of Hormuz disruptions are easing and flows are recovering; Dubai and Murban have flipped into contango on oversupply, while Hormuz transits rose to the week’s high, lifting hopes for a full reopening. The piece also notes Iran’s recent drone activity near shipping, China weighing Iranian imports, Qatar restarting LNG operations, Saudi Aramco loadings resuming, and other geopolitical and supply developments shaping the energy complex.
Oil prices fell on Friday as shipping through the Strait of Hormuz rebounded to its highest level since the Iran war began, easing fears of supply disruptions. Brent crude dropped over 2% and WTI slid about 3% to below $70 a barrel, aided by renewed US–Iran talks and a memorandum that could reopen Hormuz and secure free navigation for oil tankers.
Oil prices rose after a cargo vessel was struck in the Strait of Hormuz, prompting the International Maritime Organization to pause its planned evacuation of ships. Brent crude climbed into the mid-70s as markets reassessed supply risks amid ongoing US-Israel tensions with Iran and a drop in Asian equities.
Oil prices fell about 3% to the lowest level since the start of the Iran war as a U.S.–Iran interim deal to reopen the Strait of Hormuz and back Tehran's recovery raised expectations for faster supply restoration. Brent crude traded around $78 a barrel and WTI around $74.57, with analysts forecasting gradual normalisation of Gulf exports; Goldman Sachs sees exports returning to pre-war levels by end-July while BNP Paribas cautions that prices may not fully revert to pre-war levels, potentially finding a durable floor near $75 as flows rebuild.
Brent crude briefly dipped under $80 a barrel (the first since March) and U.S. WTI fell as markets cooled after earlier spikes driven by Iran tensions; prices had surged toward $120 following US and Israeli strikes, with traders now weighing a potential deal to end the conflict and reopen the Strait of Hormuz, which could influence a 60-day negotiation on Iran’s nuclear program and regional access.
Gas prices in the U.S. have fallen to a national average of $3.99 per gallon, dipping below $4 for the first time since mid-April, as oil markets react to news of a potential U.S.–Iran framework to reopen the Strait of Hormuz. Brent crude dropped sharply, signaling relief ahead, but analysts caution that pump prices may not fall immediately and real relief could take months as reopening efforts proceed and oil flows normalize.
US stocks rose on hopes that tentative US-Iran talks could stabilize energy supplies, with the S&P 500 up about 1.7%, Nasdaq up 3.1%, and the Dow near a record; Brent crude fell roughly 5% to just over $83 a barrel as markets priced in calmer energy flows, though officials warned full normalization could take months due to vessel backlogs around the Strait of Hormuz, with Asia also rallying and SpaceX gaining about 19.6% on its historic market debut.
Goldman Sachs’ commodity team says rising oil prices are already eroding global demand, with May demand destruction estimated around 2 million barrels per day, potentially offsetting the physical tightness of supply. They also flag a possible $10 downside risk to Brent in Q4 as demand weakens, even as Middle East supply concerns remain a source of upside risk; Energy Aspects warns Chinese imports may fall to pandemic-era lows, and current prices hover in the $90s amid ongoing geopolitics and industry warnings of shortages.
Oil prices rose after Israel ordered deeper operations in Lebanon, reigniting worries about the fragile ceasefire with Iran-backed Hezbollah. Brent traded around $93.35 a barrel and WTI near $89.78 as Goldman Sachs warned of two-sided risks from potential supply disruptions and softer demand, tied to weak April retail data in China and Western Europe.
Exxon Mobil warned that oil inventories are headed for record lows in the coming weeks due to the Middle East war, a development it says will push prices higher—with Brent potentially hitting $150–$160 per barrel once inventory levels bottom out; current prices sit below $100 as markets await a possible U.S.–Iran deal to reopen the Strait of Hormuz. The IEA has flagged rapid stock depletion and a past release of 400 million barrels to cushion the disruption.
Oil rose after the U.S. struck Iran at Bandar Abbas and shot down four drones near the Strait of Hormuz; Brent climbed about 3.75% to $97.83 a barrel and US crude to $92.22 as tensions persist despite ceasefire talks. The Strait of Hormuz remains a critical chokepoint through which roughly a fifth of global oil and LNG passes, with market volatility tied to ongoing clashes and past spikes near $120.