Opec

Oil and gas prices surge as Iran war disrupts Middle Eastern output

A three- to four-week disruption on Strait of Hormuz traffic could force Gulf producers to shut output and push Brent above US$100, said JPMorgan

Morgan Stanley analysts are concerned that Iranian bombing and tanker holdups in the Arabian Gulf could cut global supplies by up to 3 million barrels a day.

Oil prices could breach US$100 barrier if supply disruptions persist: analysts

While markets recognise the seriousness of the Iran conflict, it’s a geopolitical shock and not a systemic crisis, they add

Middle East leaders have warned Washington that a war on Iran could lead to oil prices jumping to over US$100 per barrel.

Opec+ to raise oil output slightly even as US war on Iran disrupts shipments

Bloc agrees to raise output by 206,000 bpd; Saudi Arabia and UAE have already raised exports

The possibility of prolonged turmoil in the Middle East and the ripple effects of higher oil prices are giving money managers fresh reasons to sell equities and shift into safety.

Wall Street turns to ‘haven-first’ strategies amid Iran attacks

All eyes will be on energy markets when trading fully re-opens on Monday

Analysts said Opec+ currently has very little spare capacity to meaningfully add to supply, except for its leader Saudi Arabia and the United Arab Emirates.

Opec+ debates oil output boost as US war on Iran disrupts shipments

Shipments from the Middle East via the Strait of Hormuz have come to a halt since Saturday

Opec+, led by Saudi Arabia and Russia was expected to resume modest production increases from April after a three month supply freeze, several delegates said earlier this week.

Opec+ to weigh bigger hike after Iran strike, delegate says

OPEC+ will consider the option of a larger supply increase when key members meet on Sunday (Mar 1) after the US and Israel launched an attack on Iran, according to a delegate. 

Brent crude futures settled at US$72.48 a barrel on Friday, up US$1.73, or 2.45 per cent.

Oil prices rise more than 2% as US and Iran extend talks

[HOUSTON] Oil prices rose about 2 per cent on Friday with traders bracing for supply disruptions as nuclear talks between the United States and Iran had yet to reach an agreement.

Brent futures closed 8 cents higher at US$70.85 a barrel, while WTI futures settled 21 cents lower at US$65.42 on Wednesday.

Oil settles little changed, supply worries persist despite large US crude stock build

[HOUSTON] Oil prices settled largely unchanged on Wednesday as a much larger-than-expected US crude stock build did not do much to calm jitters about the threat to oil supply from potential military c...

Brent futures settled at US$70.77 per barrel, down 72 cents or 1 per cent on Tuesday.

Oil prices ease as Iran says prepared to take steps to reach deal with US

[NEW YORK] Oil prices closed down 1 per cent on Tuesday after Iran said it was prepared to take any necessary steps to clinch a deal with the US ahead of nuclear talks later this week.

West Texas Intermediate was little changed to settle near US$66 a barrel, after jumping almost 6 per cent last week.

Oil fluctuates with US-Iran nuclear talks to resume this week

A potential war would put shipments at risk in the Strait of Hormuz