Brent crude rose roughly 5% to $94.86 a barrel on September 2, its highest since late July, after the US military launched fresh strikes around the Strait of Hormuz following alleged Iranian mine-laying.
Tag: oil
Posted inMarkets
Brent Crosses $90 as US-Iran Strikes Revive Hormuz Risk
Brent crude climbed above $90 per barrel on August 31 after US forces struck Iranian rocket launchers in the Strait of Hormuz, sending the Dow down over 370 points as energy traders repriced supply risk.
Posted inMarkets
Crude Oil Retreats on US Inventory Build and Weak Demand as Hormuz Risks Linger
WTI crude slipped to around $81 a barrel on August 14 as a substantial US stock build and signs of slowing global demand overshadowed ongoing supply risk from the Strait of Hormuz.
Posted inMarkets
Brent Rises Above $84 as Iran Demands Sanctions Relief Before Hormuz Can Reopen
Brent crude climbed past $84 a barrel on August 10 as Iran’s foreign minister ruled out any Strait of Hormuz deal without US sanctions relief and war reparations, keeping a risk premium in oil prices.
Posted inMarkets
Brent Crude Falls 5% as Iran-US Pause Eases 13-Day Supply Threat
International oil benchmark Brent crude fell roughly 5% on July 27 after the US halted strikes on Iran and Tehran signalled it would reciprocate, reversing part of the war-driven premium that had pushed prices above $100 a barrel.
Posted inGeopolitics
Iran Signals Attack Halt as US Pauses 13-Day Strike Campaign
After thirteen consecutive days of US air and naval strikes, Washington paused military operations against Iran on July 26 and Tehran indicated it would reciprocate, opening the first serious diplomatic space since the conflict began.
Posted inEconomy
Oil Above $100 Pushes Fed Rate-Hike Odds to 38% Before July 29 Meeting
CME FedWatch data shows a 38% probability of a Federal Reserve rate hike next week, up sharply from 12% seven days ago, as crude oil crossing $100 adds to already-elevated US inflation.
Posted inGeopolitics
Trump Threatens Iran’s Bridges as US Strikes Enter Their 12th Consecutive Night
US forces struck Iranian military targets for a 12th consecutive night as President Trump threatened to destroy bridges and power plants each time Iran attacks a vessel in the Strait of Hormuz.
Posted inMarkets
Brent Hits $91 as Houthi Blockade Adds Second Strait to Oil Supply Threat
Brent hit $91.05 on July 21 as the Houthi naval blockade of Saudi Arabia threatened to close the Bab al-Mandeb, adding a second oil chokepoint to the Red Sea supply crisis.
Posted inEconomy
Brent Tops $87 as Iran Escalation Refuels Global Inflation Fears
Brent crude settled at $87.20 on July 17 as renewed US-Iran strikes removed the prospect of near-term Hormuz relief, complicating the inflation outlook for the Fed and ECB at a moment when rate decisions hang on energy costs.