All articles tagged with #oil
Ukraine’s campaign against Russia’s oil and energy infrastructure is widening fuel shortages and forcing Moscow to curb diesel exports and import fuel, with strikes penetrating deep inside Russia and threatening Putin’s grip on power—though Moscow still earns billions from energy sales and the war’s toll on ordinary Russians remains contested by analysts.
Global oil demand is easing, but U.S. gasoline consumption rose in the second quarter, even as pump prices exceed $4.50 per gallon. Analysts say driving remains strong in the U.S. due to a shrinking share of household income spent on fuel and more people returning to in-office work, while refinery damage in Russia and the Middle East helps keep refined-product prices high.
U.S. stock futures edged lower Thursday night (S&P 500 futures -0.12%, Nasdaq -0.18%, Dow flat) after a strong session that left the Nasdaq up 1.3%, the S&P 500 up 0.8%, and the Dow up 0.3% for the week. Asia-Pacific equities followed with gains on Friday led by tech names amid strength in U.S. chipmakers. Investors await Delta Air Lines’ quarterly results and SK Hynix’s Nasdaq debut, while oil prices tick higher on ongoing Middle East diplomacy. Week-to-date: Nasdaq +1.5%, S&P +0.8%, Dow -0.8%.
Oil prices rebounded after Trump declared the Iran ceasefire over, stoking fears of renewed supply disruptions through the Strait of Hormuz; tanker traffic showed resilience but analysts warned volatility could persist and gasoline prices may rise ahead of elections as geopolitical risk resurges.
Trump’s claim of a peace deal with Iran has bought three weeks of fragile calm in oil markets, but Hormuz risk and tight inventories keep prices volatile: Brent hovers near $78 per barrel after an initial dip following the MOU, roughly 200 million barrels have bypassed Hormuz in three weeks, the Strategic Petroleum Reserve sits around 319.5 million barrels, and renewed sanctions or a closure of the strait could quickly spike prices and strain the US economy.
Futures sit near flat as oil climbs on renewed U.S.-Iran tensions; in regular trading the Dow fell about 576.8 points (1.1%), the S&P 500 slid 0.28%, while the Nasdaq rose ~0.2% on Nvidia. Investors weigh higher energy costs and inflation risk against earnings momentum and AI gains, with Fed minutes signaling uncertainty on rate cuts. Traders await weekly jobless claims and existing-home sales data, and Asia-Pacific markets opened mixed (Kospi rallying after bear-market dip). After-hours movers included Levi Strauss (-5.5%) and AZZ rising on earnings.
Oil surged more than 4% after Trump said the U.S.-Iran ceasefire was “over,” with WTI ending about 4.4% higher at $73.52 and Brent around 5% higher at $78.02, signaling renewed geopolitical risk; U.S. stocks fell (S&P 500 and Dow down, Russell 2000 lower) while the Nasdaq rose on semiconductors, and 10-year Treasury yields climbed near 4.6%, underscoring renewed inflation fears as discretionary and travel-related shares slid.
U.S. stocks drifted lower as oil surged on renewed US-Iran tensions, with the Dow down about 1.1%, the S&P 500 down 0.3%, and the Nasdaq near flat after earlier losses, as crude prices climbed roughly 5% and the market awaited Fed minutes amid rising bond yields.
Iran struck 85 U.S.-aligned military sites in the Gulf, triggering a global market selloff and a jump in oil prices (Brent near $78 a barrel) as traders weigh the risk of wider conflict and potential disruption to Strait of Hormuz shipping; the U.S. response and any ceasefire remain uncertain, with stocks sliding across major regions.
Oil prices jumped to the high $70s/over $80 a barrel after Iran attacked multiple tankers near the strait of Hormuz, signaling a breakdown of the ceasefire and stoking supply fears. The disruption coincided with jumpy financial markets: UK gilts rose as traders priced in BoE rate hikes, and the FTSE 100 fell about 1.7% while BP and Shell outperformed. European gas and UK energy prices also firmed on the renewed tensions. Analysts warned that tanker traffic through Hormuz has effectively stalled, though some supply relief came from alternative routes and waivers, revising the global loss from an initial 20m barrels per day down to about 3.1m. The situation keeps household energy and pump prices at risk ahead of winter, with markets awaiting how the US-Iran standoff will resolve following Iran’s broader hardening stance and the upcoming burial of Iran’s supreme leader.
U.S. stock futures slipped as oil jumped on escalating US-Iran tensions after strikes on vessels; Dow futures fell about 1%, S&P 500 futures down roughly 0.8%, and Nasdaq futures down around 1.3%. Crude surged more than 5% as the Treasury revoked Iran’s oil-export license, signaling potential supply disruptions, ahead of the Fed minutes for policy clues.
European stocks opened lower as oil prices rose after U.S. strikes on Iran; Asia-Pacific markets were mixed, with South Korea’s Kospi entering a bear market and briefly trading halted as Samsung and SK Hynix fell, while Hong Kong rose and mainland China declined. Oil surged, lifting energy names across Europe, and gold fell after a brief safe-haven rally. The roundup also notes tech’s outsized role in U.S. earnings growth, underscoring the tech-market link in current sentiment.
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.
Three tankers were struck by projectiles in the Strait of Hormuz, including a liquefied natural gas carrier near Oman, with no injuries reported, as the U.S. revoked a 60-day license that had waived sanctions on Iranian oil; the move comes amid stalled U.S.–Iran talks and ongoing tensions over shipping routes and global energy security.
The U.S. Treasury revoked Iran’s license to globally sell oil after a series of tanker attacks in the Strait of Hormuz, signaling consequences for Tehran’s actions as shipping in the critical waterway faces heightened risk. Iran has pressed for a northern transit route under its control, while the U.S. Navy maintains a southern corridor via Oman; an interim deal had promised safe passage but the attacks have jeopardized it. The United States later conducted airstrikes after Tehran hit a cargo ship, underscoring escalating tensions.