Extreme volatility in crude futures prices has eased in recent days, although the market reacted with an 8% jump early Monday to the news of failed U.S.-Iran talks and the beginning of a U.S. blockade of the Strait of Hormuz. Traders continue to react to any signal of how the worst-ever disruption energy market …
Continue reading “Paper Oil Blinks While Physical Supply Tightens”
Iran’s Islamic Revolutionary Guard Corps (IRGC) warned on Sunday that it would attack any military vessel that attempts to approach the Hormuz Strait. The guard denied “false” statements that the waterway is open for shipping. The guard said such moves would constitute a violation of the ceasefire agreement and provoke a strong reaction from Iranian …
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United States President Donald Trump ordered on Sunday a blockade of the Hormuz Strait and to “interdict” every vessel in international waters that “has paid a toll to Iran.” The US leader declared that the talks with Iran went well, but said Tehran was unwilling to unblock the strait and give up its nuclear program. …
United States President Donald Trump criticized Iran’s handling of oil shipments through the Strait of Hormuz, saying the country is failing to honor its commitments. Trump claimed that Iran is “doing a very poor job” of allowing oil to pass through the waterway. “That is not the agreement we have,” he claimed. The two sides …
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European and African crude oil prices climbed to fresh records on Wednesday, defying a sharp selloff in oil futures after a U.S.-Iran ceasefire was reached on Tuesday, as traders priced in a prolonged disruption to physical oil supplies. The ceasefire announcement sent major benchmark Brent and WTI contracts tumbling 13% and 16% respectively on Wednesday to below …
Crude oil prices increased on Thursday, with the US benchmark West Texas Intermediate (WTI) rising by more than 5%. Market participants are also evaluating the geopolitical factors related to the ceasefire between the US and Iran. The move comes after some relief in the commodity market following the announcement of a new ceasefire deal. Prices fell below $100 …
Abu Dhabi National Oil Company (ADNOC) CEO Sultan Al-Jaber called on Thursday for the Strait of Hormuz to reopen “fully, unconditionally and without restriction,” adding that “energy security and economic stability depend on it.” “The Strait of Hormuz is not open. Access is being restricted, conditioned and controlled,” he stated on LinkedIn, saying that “conditional passage is …
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Iran’s atomic energy chief, Mohammad Eslami, stated on Thursday that the “enemy” won’t succeed in limiting Iran’s uranium enrichment program and that “no law or person can stop us,” Iran’s ISNA news agency reported. Eslami, the head of Iran’s Atomic Energy Organization, has repeatedly defended the nation’s right to pursue uranium enrichment as a sovereign …
Continue reading “Iran’s nuclear chief: Enrichment won’t stop….. It will have to be stopped!”
Hezbollah said it fired rockets at northern Israel, claiming the attack was a response to what it called violations of the US-Iran ceasefire agreement, according to AFP News. The Iran-backed group said it targeted the Israeli settlement of Manara and vowed to continue strikes until “the US-Israeli aggression against our country and our people stops.” The …
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Iran has supposedly closed the Strait of Hormuz for oil tankers amid Israeli attacks on Lebanon, Fars News Agency reported on Wednesday.Earlier today, local media also reported that the Iranian navy supposedly threatened ships and vessels trying to pass through the critical shipping route without its permission with “destruction,” citing several shipping sources. In addition, a spokesperson for …
Continue reading “Iran said to have closed Hormuz amid Israeli strikes”