The U.S. will deal with Iran “another way” if it does not reach a good deal with the Islamic Republic, U.S. Secretary of State Marco Rubio said on Monday, playing down hopes that an agreement is imminent Following signals from Washington during the weekend that the
State-owned refiners raise diesel and gasoline prices for the fourth time in May, lifting costs amid disrupted oil flows. India’s state-run fuel retailers increased pump prices for the fourth time this month, pushing diesel up 8.6% and gasoline 7.8% since May 1. The hikes
West Texas Intermediate (WTI), futures on NYMEX, are down 6% to near $90 in the European trading session on Monday, the lowest level seen in over two weeks. The oil price clings to opening losses amid hopes that energy supply disruptions due to the prolonged closure of the
Oil prices rise 0.9% on Strait of Hormuz risks but drop 5.2% weekly as OECD stockpiles ease supply concerns. Brent crude oil prices climbed 0.9% to USD103.54 last Friday, driven by ongoing closure risks in the Strait of Hormuz. However, the benchmark fell 5.2% over the wee
Oil prices fall nearly 5.5% over four days as easing supply concerns weigh on markets amid US-Iran peace talks progress. West Texas Intermediate crude fell below $91.00 per barrel, extending its decline to a fourth consecutive session and trading near $90.80 in Asian hours
Oil prices fall as markets price in reduced supply risks from a potential US-Iran agreement reopening the Strait of Hormuz. West Texas Intermediate crude fell to $90.80 per barrel, extending a four-day decline amid rising hopes of a US-Iran agreement. The drop reflects eas
Oil benchmarks fell over 5% on Iran deal optimism Oil prices plunged in early Asian trade on Monday following reports of a potential deal to reopen the Strait of Hormuz. At the time of writing, Brent had broken back below $100 to trade at $98.27, while WTI fell to
Oil prices fall sharply on expectations the Strait of Hormuz may reopen, easing Middle East supply disruptions amid US-Iran talks. West Texas Intermediate crude plunged nearly 5% in early trading Monday, nearing the $90 mark, as renewed optimism over a potential US-Iran pe
Optimism over potential U.S.-Iran talks to reopen the Strait of Hormuz weighs on oil prices while lifting equity futures. Brent crude prices fell Monday as markets priced in rising odds of a diplomatic breakthrough between Washington and Tehran to reopen the Strait of Horm
A single crude carrier breached Iran’s Strait of Hormuz closure, delivering Iraqi oil to Asia while most shipments remain trapped. A very large crude carrier exited the Gulf of Oman into the Arabian Sea carrying 2 million barrels of Iraqi crude destined for China. The vess
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