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The rise in sales came alongside G7 nations releasing energy stockpiles in a bid to tame surging diesel prices. Oil prices fell as new data showed crude exports from the Middle East surpassed prewar levels, though any respite may be short-lived as attacks on tankers traversing the Strait of Hormuz increased. The rise i
Brent crude rebounded to trade over $95 a barrel on Wednesday, extending a two-session rally to a six-week high as renewed US-Iran tensions raised Middle East crude disruption risk.
Vice President JD Vance offered his perspective on the unique negotiation tactics employed by Iran and their approach towards the peace talks with the U.S. In an interview with conservative commentator Michael Knowles on Tuesday, Vance expressed his intrigue over Iran’s constant denial of ongoing peace talks while simu
Morgan Stanley (NYSE: MS ) lowered its oil price forecasts for this year and next after noting that oil tankers are moving through the Strait of Hormuz faster than expected. A team of Morgan Stanley strategists led by Martijn Rats lowered its fourth-quarter Brent crude forecast to $75 per barrel from $80 and cut its en
Strait of Hormuz crossings rose to 25 on 18 June, signaling a recovery in maritime activity