The Business Times

Oil prices

Energy & Commodities

US will take action to mitigate oil price spike for Americans, Rubio says

Average US retail petrol prices crossed US$3 a gallon for the first time since November on Monday

Brent crude futures rose as much as 13 per cent to US$82.37 a barrel on Monday, the highest since January 2025, before settling 6.7 per cent higher at US$77.74 a barrel.
Energy & Commodities

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

Iran pumps about 3.3 million barrels a day, or 3% of global output, but the nation wields greater influence over energy supplies given its strategic location alongside the strait.
Global Enterprise

Oil spikes as widening Iran crisis disrupts flows through Strait of Hormuz

The conflict marks a dangerous new phase for the global oil market

The euro fell 0.6 per cent on the Swiss franc to 0.90391, its lowest since 2015.
Banking & Finance

Safe-haven yen and Swiss franc gain as weekend Iran strikes unnerve markets

Trading was thin late on Sunday European time, but deals in major currency pairs can set the tone

Average pump prices could surpass US$3 per gallon on Monday for the first time this year, according to an analyst.
Energy & Commodities

US petrol prices to rise after attack on Iran, analysts warn

[NEW YORK] US average retail petrol prices are set to break above US$3 a gallon on Monday for the first time in more than three months as the conflict between the United States and major oil producer ...

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.
Global Enterprise

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.
Energy & Commodities

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.
Energy & Commodities

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 crude futures settled down 10 US cents, or 0.14%, to US$70.75 a barrel.
Energy & Commodities

Oil settles down after choppy session as traders follow US, Iran talks

The United States and Iran held indirect talks in Geneva on Thursday over their long-running nuclear dispute to avert a conflict

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.
Energy & Commodities

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...

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