US EditionBrent crude oil tops $100 a barrel as Iran attacks on shipping worsen supply concerns
Iran's attacks on shipping and energy infrastructure near the Strait of Hormuz caused Brent crude to rise over 38% since the war began, despite the largest emergency oil reserve release ever.
- This week Iran escalated attacks on commercial shipping and energy infrastructure, striking Iraqi territorial waters and two tankers, briefly pushing crude above $100 a barrel.
- In response to U.S. and Israeli strikes, Iran says it stepped up attacks on energy infrastructure and shipping, while the United Nations Security Council condemned these as a 'breach of international law' and Gulf states reported missile threats.
- The International Energy Agency announced a record 400 million-barrel release, including 172 million from the U.S. Strategic Petroleum Reserve, despite Brent futures surging 10% on Thursday.
- One immediate consequence has been ports and terminals halting operations after attacks near Iraq, with one person killed and 8 crew members rescued, according to Iraqi officials.
- Analysts say the conflict will slash global oil supply by 8 million barrels a day this month, and Goldman Sachs forecasts Brent at $98, with potential to surge to $110 if Strait of Hormuz flows are disrupted.
373 Articles
373 Articles
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Donald Trump has dismissed rising US gasoline costs as a 'little glitch' caused by the Iran war, even as the national average price at the pump hit about $3.58 per gallon on Wednesday, 11 March, according to AAA figures. The president, speaking to ABC News earlier this week, insisted the surge was temporary and would ease once the conflict with Iran and the wider Middle East crisis stabilise. The sharp climb in gas prices began after the US war …
Oil prices jump to USD 100 per barrel, stocks sink worldwide with no clear end in sight for Iran war
At least 19 commercial ships have been damaged so far in the war, figures showed Thursday. Through Wednesday night, there had been at least 16 vessels attacked in the Persian Gulf and the wider region, according to the Joint Maritime Information Center, a coalition overseen by the US Navy.
Iran Tanker Attacks Sent the VIX Surging Today. Here Is What Could Push it To 50 From Here
Quick Read Russell 2000 (IWM) fell 2.15% on Thursday and is down 7% over the past month as small-cap domestic companies lack pricing power to absorb oil-driven cost surges. Dow (DIA) shed nearly 7% over the past month from industrial and energy-cost exposure. Nasdaq 100 (QQQ) lost 1.72% as higher rate expectations compressed growth valuations. Iranian escalation disrupting 20% of global oil supplies through the Strait of Hormuz has pushed crud…
Stocks retreat, oil surges on fears of prolonged Iran war
NEW YORK, United States — Oil prices jumped Thursday with Brent crude settling above $100 a barrel for the first time since August 2022. This, as Iran vowed to make the United States regret launching its war against the country. The price of Brent crude surged 9.2 percent to $100.46 a barrel, while its US equivalent, West Texas Intermediate, climbed 9.7 percent to $95.73 a barrel. Stocks retreated as fears of a prolonged conflict in the Middle E…
TVA Nouvelles
24heures.caIran may not have military superiority, but the Islamic Republic still has a lever to influence war.
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