Oil prices rise as latest fighting revives Mideast supply disruption risks
Brent crude rose 2.7% as five vessels passed the strait, far below the 10-day average of 14, amid fears of wider supply disruptions.
- On Tuesday, oil prices rose as renewed military exchanges between the United States and Iran fueled fears of broader escalation, with Brent crude climbing 0.6 per cent to US$91.05 a barrel and West Texas Intermediate increasing 1 per cent to US$86.59.
- Renewed hostilities follow six months of war, with Iran blocking the Strait of Hormuz and the United States maintaining a blockade of Iranian ports; tensions spiked after Sunday's strikes on Larak, prompting Iranian responses targeting US forces in Jordan and the United Arab Emirates.
- Shipping data from Kpler shows visible commodity vessels transiting the Strait of Hormuz dropped to five per day over the weekend, with no liquid tankers passing Monday compared to a 10-day average of about 14 vessels.
- President Donald Trump vowed the United States would "hit them hard" following the attacks, despite recent shifts toward economic pressure, as soaring gasoline prices create political liability ahead of November's midterm elections.
- Analysts polled by Reuters expect oil prices to remain above US$80 a barrel in 2026 as shipping disruptions persist, while inflation concerns and expectations of higher interest rates weigh on global stock markets.
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79 Articles
Oil prices rise and stocks waver as Middle East violence flares, addin
BANGKOK (AP) — Oil prices climbed further and Asian shares were mixed Tuesday as recurring violence in the Iran war after more than a month with no significant fighting heightened uncertainty over the future of the conflict
The Toronto Star
Oil prices rise and stocks waver as Middle East violence flares, adding to uncertainty
BANGKOK (AP) — Oil prices climbed further and Asian shares were mixed Tuesday as recurring violence in the Iran war after more than a month with no significant fighting heightened uncertainty over the future of the conflict.
aljazeera.net
القدس العربيOil prices rose by about a dollar today Tuesday after renewed confrontations between the United States and Iran in the Middle East, and raised concerns about the disruption of supplies from a major raw-producing area in the world.
Vance calls Iran’s leaders ‘really crazy’ as US focuses on keeping Hormuz open
Vice President Vance says Iran behaving irrationally, suggesting its leadership is 'really crazy,' following the first military clashes between the US and Iran since July. The post Vance calls Iran’s leaders ‘really crazy’ as US focuses on keeping Hormuz open appeared first on World Israel News.
World oil prices rose today Tuesday, with the renewed war between the United States and Iran in the Middle East, raising concerns about the disruption of supplies from a major crude production area in the world.
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