Repeated Emergency Oil Releases Push America’s Strategic Reserve Toward a Breaking Point
The United States’ Strategic Petroleum Reserve (SPR)—the nation’s emergency stockpile of crude oil—is showing signs of serious strain after years of repeated large-scale withdrawals, raising concerns about whether it will be able to respond effectively to future energy crises. Aging infrastructure, mechanical failures and decades of deferred maintenance are combining with historically frequent oil releases […]
Oil Jumps and Global Stocks Slide as Trump Casts Doubt on Iran Ceasefire
Global markets turned sharply uneasy after President Donald Trump cast doubt on the temporary truce in the war with Iran, sending oil prices higher and stock indexes lower as investors recalculated the risk of a wider conflict and renewed inflation pressure. The move came after Trump said the ceasefire was “over,” though he later softened […]
Oil prices sink further as Trump signs deal to reopen Hormuz
Oil prices tumbled again Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz. The news boosted optimism for a lasting peace between the two nations after more than three months of war that has rattled energy markets and fuelled […]
Trump Delays Planned Iran Strike as Gulf Allies Push for New Negotiations
President Donald Trump said he is postponing a planned military strike on Iran that had been scheduled for Tuesday, saying several U.S. allies in the Middle East asked him to hold off because “serious negotiations” are underway. Trump announced the decision Monday 18 April on social media, framing the delay as temporary but saying he […]
Crude Climbs Past $111 With Iran Peace Talks Frozen and Hormuz Risks Unresolved
Oil prices moved back above $111 a barrel as hopes for a diplomatic breakthrough between the United States and Iran continued to fade, keeping traders focused on the risk of a prolonged supply shock. Peace talks had stalled with no clear path to reopening the Strait of Hormuz, one of the world’s most important routes […]
Oil Slips as Trump’s Tariff Hike Stirs Global-Growth Fears, Offsetting Middle East Risk Premium
Oil prices fell about 1% after a weekend jolt from U.S. trade policy revived worries about global growth and fuel demand, even as tensions between Washington and Tehran had pushed crude sharply higher the week before. In Asian trading, Brent futures dropped roughly 1.2% to about $70.89 a barrel, while U.S. West Texas Intermediate (WTI) […]
Oil prices fall back as ‘hopeful’ Tehran responds to Trump
Shares dipped and oil prices dropped back Tuesday as Tehran gave an encouraging response during talks with US officials in Geneva on Iran’s nuclear programme, after days of escalating rhetoric from President Donald Trump. Oil prices had earlier risen after Trump ramped up threats towards Iran, a large crude producer, but Iranian Foreign Minister Abbas […]
Oil prices rise further as Israel-Iran extends into fourth day
Oil prices extended gains Monday as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks, stoking fears of a lengthy conflict that could reignite inflation. Gold prices also rose back towards a record high thanks to a rush into safe havens, but while most equity markets dropped further […]
Oil prices drop on easing fears over Middle East, most markets rise
Oil prices extended losses Tuesday after a report said Israeli Prime Minister Benjamin Netanyahu had told US President Joe Biden he would not strike Iran’s crude or nuclear facilities in retaliation for a missile attack earlier this month. The sell-off came as the commodity is hit by worries about China’s economic outlook after Beijing failed […]
