(Bloomberg)– Oil markets are headed for even greater chaos on Monday as the war in Iran unleashes unprecedented disruption: Major producers are curbing production as storage fills and the most important waterway for global energy markets remains virtually closed. Bloomberg’s Most Read The United Arab Emirates and Kuwait have already begun to reduce oil production…
If one has been paying attention to global headlines lately, it would be easy to assume that oil prices would be through the roof: a country with significant oil reserves mired in a crisis, sanctions on perennial producers, simmering regional conflicts and social unrest in several exporters. And yet Brent and WTI have been languishing…
Oil markets remained nervous early Monday as Asian trading began, with all eyes on reports of possible progress in peace talks between Russia and Ukraine. At the same time, the strengthening US dollar is adding downward pressure to prices, with both major benchmarks losing about 3% last week. At the time of writing, West Texas…
