Oil prices fell about 5% for a second day in a row to a three-month low on Tuesday as details emerged of an interim deal to end the war in the Middle East and reopen the Strait of Hormuz, including an agreement allowing Iran to sell oil. Brent crude futures fell $4.21, or 5.1%, to settle at $78.96 […]
Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the U.S. and Iran had agreed to extend a ceasefire, though it had yet to be finalised. Brent crude futures for July fell 1.1% or $1.04 to $92.67 a barrel at 0330 […]
Oil prices continued to rise on Thursday despite major countries agreeing to release a record amount of oil from their emergency reserves as they try to curb the impact of the Iran war. Brent crude rose by almost 9% to top $100 ($74.79) a barrel in Asia trading even after all 32 members of the International […]
The price of oil has jumped 5% after US President Joe Biden said the US was discussing possible strikes by Israel on Iran’s oil industry. Asked on a visit if he would support Israel striking Iran’s oil facilities, Biden said: “We’re discussing that.” Iran is the seventh largest oil producer in the world, exporting around […]
