Crude prices fell more than $1 a barrel on Monday, but the retreat offered little comfort to energy markets as investors braced for tougher U.S. sanctions on Iran and the threat of further disruption to Middle East oil supplies. Brent crude fell $1.01, or 1.1%, to $93.38 a barrel, while U.S. West Texas Intermediate dropped…
ANNIE ALLEN (UK Bureau Chief) Oil prices climbed to their highest level in nearly four weeks on Wednesday as escalating Middle East tensions and slowing traffic through the strategic Strait of Hormuz raised fresh fears of a global supply shock. Brent crude settled 60 cents higher at $91.62 a barrel, gaining 0.7%, while U.S. West…
ANNIE ALLEN (UK Bureau Chief) Global oil prices surged sharply on Monday, climbing nearly 3% as stalled negotiations between the United States and Iran and restricted flows through the Strait of Hormuz tightened already strained global supplies. Brent crude rose $3, or about 2.9%, to $108.36 per barrel by 0828 GMT, its highest level in…
ANNIE ALLEN (UK Bureau Chief) Global oil prices surged to a four-year high before pulling back sharply on Thursday, as fears of a widening conflict between the United States and Iran sent shockwaves through energy markets. Brent crude briefly spiked above $126 per barrel, its highest level since March 2022, amid growing concern that an…
