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Takeaways by Bloomberg AI Trump administration officials urged US oil producers to boost output amid a global supply shock caused by the war in Iran. The administration is grappling with the effective closure of the Strait of Hormuz, which has yanked an estimated 16 million barrels per day of crude from the world market. Industry leaders …
Trump Officials Urge Oil Industry to Boost Output Amid War Read More »
Summary Hormuz strait remains largely shut despite ceasefire U.S. to end waivers on Iranian and Russian oil Official U.S. oil inventory data due Wednesday (Reuters) – Oil prices rose after steep falls in the previous session as shipping through the Strait of Hormuz remained constrained, outweighing expectations of renewed U.S.-Iran talks aimed at ending the …
Oil Gains as Hormuz Shipping Constraints Persist Despite Hopes for US-Iran Talks Read More »
By Valerie Volcovici WASHINGTON, April 13 (Reuters) – Oil prices are likely to hit their peak “in the next few weeks” once ship traffic resumes through the Strait of Hormuz, U.S. Department of Energy Secretary Chris Wright said on Monday. Prices are expected to continue rising until “meaningful” ship traffic resumes through the strait, Wright …
Peak Oil Price Likely to Come ‘in Next Few Weeks,’ US Energy Secretary Says Read More »
Summary Trump announces US naval blockade of Strait of Hormuz Democratic senator questions Trump’s strategy Trump’s approval rating slumping since war on Iran began MIAMI, April 12 (Reuters) – U.S. President Donald Trump said on Sunday that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political …
Trump Says Gas Prices May Remain High Through November Midterm Election Read More »
Summary Iran peace talks yield no agreement Trump vows to blockade Strait of Hormuz Military vessels approaching strait to be viewed as ceasefire breach – Iran’s Guards SINGAPORE, April 13 (Reuters) – Oil prices jumped above $100 a barrel on Monday as the U.S. Navy prepared a blockade of the Strait of Hormuz that could …
Oil Jumps 8% to Above $100 Ahead of US Blockade on Strait of Hormuz Read More »
(Reuters) – Producers in the Middle East have asked Asian refiners to submit crude oil loading programmes for April and May in preparation for the eventual resumption of shipping through the Strait of Hormuz, three sources with knowledge of the matter said. A two-week ceasefire deal between the U.S. and Iran announced on Wednesday lifted hopes for …
PREPARING TO LOAD: Middle East Producers Prepare For Oil Export Resumption via Hormuz Read More »
Summary Market struggles to price clear path for Hormuz reopening Shipping traffic through Hormuz at virtual standstill despite ceasefire, data shows Strikes across Gulf raise supply threats despite ceasefire (Reuters) – Oil prices rose over 3% on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of …
Oil Rebounds as Fragile Ceasefire, Hormuz Concerns Keep Supply Risks Elevated Read More »
Summary Strait of Hormuz closure disrupts Middle East oil exports, refiners seek alternatives Trump threatens further action if Strait remains closed Iran allows passage for select vessels OPEC+ agrees modest output rise, war limits actual increases Russian supply also disrupted (Reuters) – Oil prices fell in choppy trade on Monday, as investors awaited clarity on …
Oil Prices Fall After US and Iran Receive Framework Ceasefire Proposal Read More »
Recent U.S. intelligence reports warn that Iran is unlikely to open the Strait of Hormuz any time soon because its grip on the world’s most vital oil artery provides the only real leverage it has over the United States, according to three sources familiar with the matter. The finding suggests that Tehran could continue …
US Intelligence Warns Iran Unlikely to Ease Hormuz Strait Chokehold Soon Read More »
By Arathy Somasekhar WTI soars to nearly $114/bbl, highest since March 9 Trump speech did not clarify when Hormuz might reopen WTI heads for biggest daily absolute price rise since 2020 HOUSTON, April 2 (Reuters) – U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as …
US Crude Jumps More Than 11%, Brent Nearly 8% After Trump Vows More Attacks on Iran Read More »
