crude oil prices

Treasury Secretary Scott Bessent defended the relaxation of sanctions on Iranian oil and the U.S. military strikes on Tehran’s infrastructure Last week, the Treasury Department relaxed certain sanctions on Iran, thereby permitting the sale of Iranian oil that was previously stranded at sea....

Energy markets are in a period of high uncertainty amid disruptions to oil and gas flows through the Persian Gulf. New research from ING evaluated pathways for duration and severity of the current supply shock. The bank's commodities team warns that the complex risk around the Strait of Hormuz — a...

Global tension in the Middle East, with the United States and Israel attacking Iran, has caused the price of oil to rise, and consumers in America are feeling the pressure. Higher gas prices have consumers searching more for electric vehicles than they have in months. Electric Vehicle Searches Grow...

Amid escalating tensions with Iran and a significant surge in oil prices, California Governor Gavin Newsom slammed President Donald Trump‘s recent dismissive stance, using an old post from Trump. Newsom took to X late Sunday to post a screenshot of Trump’s 2013 post on the platform (...

Israel’s extensive strikes on 30 Iranian fuel depots have reportedly ignited the first major discord between the U.S. and Israel since the conflict commenced on February 28. Israel’s strikes were more widespread than the U.S. had predicted when it was informed beforehand. The...

Crude oil has been in focus since the U.S. and Israel began their strikes on Iran, which also killed the Islamic Republic's Supreme Leader, Ayatollah Ali Khamenei. Strait Of Hormuz Closed Concerns around crude oil prices escalated when Iran announced the closure of the Strait of Hormuz, warning it...

The ongoing U.S.-Iran war has unsettled markets this week. Over the past 5 days, the Dow Jones Industrial Average (DJIA) fell 2.64%, and the S&P 500 eased 0.38%. However, the NASDAQ Composite climbed 0.59% during the period. The EURO STOXX 50 also declined 5.98%, Nikkei 225 fell 4.06%, while...

Secretary of State Marco Rubio addressed growing concerns over escalating energy prices due to the U.S.-Iran war and hinted at a plan in place. Rubio, in a press briefing on Monday, indicated that the Trump administration had already anticipated a surge in oil prices due to the strikes...

Oil prices surged during the first quarter of 2024 as the supply/demand outlook tightened and global geopolitical concerns intensified, pushing both U.S. and European benchmark crude futures to five month highs. Over the first three months of the year, Nymex West Texas Intermediate, the U.S....

Since Friday, June 24, crude oil prices per barrel have rallied 5.7%, after President Joe Biden proposed a three-month federal gas tax holiday. According to Tuesday data from the American Automobile Association (AAA), national gas prices have declined to $4.881 a gallon, down from its recent...

WTI crude oil prices are back above $54/bbl for the first time since February, which is good news for many oil investors. But while crude oil prices have surged 15 percent in the past month, natural gas prices have fallen 5.8 percent in that time. Bernstein analyst Jean Ann Salisbury recently...

After dipping as low as $45.58 in late August, WTI crude oil prices are once again knocking on the door of $50/bbl. Oil has had a bumpy ride since its 2014 sell-off, but its trading range has narrowed to between around $42/bbl and $55/bbl in the past year. Hurricane Harvey didn’t have much of...

Steadily rising oil prices coupled with increased operational efficiencies in the integrated oil sector may have created the best investment opportunity in the space since 2012. According to Jefferies analyst Jason Gammel, integrated oil companies have streamlined their operations so well that they...

Official U.S. crude oil data for the week ending July 29 revealed that crude oil refinery inputs averaged approximately 16.852 million barrels a day. This was 266,000 barrels per day higher than the 16.586 million recorded in the preceding week. Following the release of the data, crude oil prices...

The price of US WTI crude oil closed for trading on Tuesday above the $50 per barrel mark for the first time since July. The commodity continued to trade higher early Wednesday morning and was seen trading above the $51 per barrel handle. The last time WTI crude futures traded near the $51 per...