[Opinion] Oil Prices to Eclipse 2008 Record Highs if Iran War Drags On

Oil prices to eclipse 2008 record highs if Iran war drags on

Global oil prices will leap past their 2008 record highs in the coming weeks if the US-Israel war on Iran continues and the Strait of Hormuz remains closed, according to energy analysts. The regional conflict has thrown global energy markets into turmoil after Tehran's retaliatory strikes effectively sealed off the Strait of Hormuz and vital infrastructure on both sides of the Arabian Gulf comes under fire. The strategic waterway carries around …

Iran Oil Prices Hold Near Four-Year Highs After U.S. Frees 140 Million Barrels

Brent crude closed at $112.19 a barrel Friday, its highest since July 2022, despite the U.S. move to temporarily release about 140 million barrels of stranded Iranian oil. The Strait of Hormuz remains mostly shut, with Iraq cutting Basra output to 900,000 barrels per day and declaring force majeure on foreign-operated oilfields. Middle East Dubai crude hit a record $166.80 a barrel Thursday as refiners scrambled for alternative supplies. The pos…

Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

Brent Crude Nears US$110 as Strait of Hormuz Disruption Drives Worst Oil Shock in Decades

NewsGhana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/brent-crude-nears-110-as-strait-of-hormuz-disruption-drives-worst-oil-shock-in-decades/Global oil markets are experiencing their most severe supply disruption in half a century, with Brent crude trading at US$109.38 per barrel on Friday March 20, as the near-total closure of the Strait of Hormuz continues to choke off a fifth of the world’s daily o…