Oil poised for further gains as Middle East conflict threatens export facilities

Oil rises as focus returns to threats on Middle East export facilities

SINGAPORE: Oil prices rose on Monday as investor focus returned to threats facing Middle East oil facilities, despite U.S. President Donald Trump's call for nations to help safeguard the Strait of Hormuz, a vital artery for global energy shipments.

Oil up as attacks on MidEast export facilities continue

Oil prices rose today as the US-Israeli war on Iran continued to disrupt oil production and shipping in the Middle East, despite US President Donald Trump's call for global efforts to secure the vital Strait of Hormuz.

Oil extends gains as Middle East conflict threatens export facilities

Oil prices extended gains on Monday (Mar 16) as the US-Israeli war against Iran entered a third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut in the biggest disruption to global supplies ever.Brent crude futures jumped US$2.01, or 1.95 per cent, to US$105.15 a barrel by 11.38p

Oil poised for further gains as Middle East conflict threatens export facilities

The global oil supply is expected to fall by 8 million barrels per day in March while Middle Eastern producers have cut output by at least ​10 million barrels per day, ⁠according to the International Energy Agency.

Oil poised for more gains amid export facilities threat

Analysts say attacks on oil infrastructure mark an escalation ⁠in the conflict in the Middle East, rattling global markets.

Oil prices dip from one-week high on Iran war uncertainty

Oil prices fell on Monday, having hit one-week highs in early trading, due to uncertainty over the likely duration of the Iran war and the near-closure of the Strait of Hormuz. Iran has halted most maritime traffic in the narrow channel – through which about 20 million barrels per day (bpd) of crude and related products would normally transit – forcing many countries including Kuwait, Qatar, Iraq, the UAE and Saudi Arabia to reduce daily hydroca…