US stocks leap April 17,closing on a very healthy note to end the following week Iran he said Strait of Hormuz will remain operational during the Ceasefire between Israel and Lebanon. That eased fears of a large oil supply shock. He Dow rose more than 900 points, the S&P 500 exceeded 7,100 for the first…
By Jarrett Renshaw HOUSTON, March 26 (Reuters) – U.S. officials said this week that the historic surge in fuel prices during the war in Iran will be short-term and touted record U.S. production at an industry conference where oil executives and government officials from Asia, the Middle East and Europe lamented the worst disruption to…
By Robert Harvey and Georgina McCartney LONDON/HOUSTON (Reuters) – If you want to buy a cargo of oil in Asia or jet fuel in Europe right now, you may have to pay a record price for it. Rising oil prices in physical markets – where oil is traded on ships, rail cars or in storage…
March 13 (Reuters) – The International Energy Agency said the closure of the Strait of Hormuz has caused the biggest disruption to global oil markets in history, with supply expected to fall by around 8 million barrels per day in March, or about 8%. The agency’s member countries responded by agreeing to release a record…
Today January WTI Crude Oil (CLF26) rose +0.76 (+1.38%) and January RBOB Gasoline (RBF26) rose +0.0166 (+0.99%). Crude oil and gasoline prices are rising today amid increased geopolitical risks in Venezuela and Russia. President Trump ordered a blockade of sanctioned tankers off Venezuela, and the United States is preparing new sanctions on Russian energy exports…
December WTI Crude Oil (CLZ25) closed Friday up +0.32 (+0.54%) and December RBOB Gasoline (RBZ25) closed down -0.0253 (-1.29%). Crude oil and gasoline prices closed mixed on Friday. Dollar weakness supported crude oil prices on Friday, as the dollar index (DXY00) fell to a one-week low. Additionally, the strength of crude oil demand from China,…
Investors and analysts have spent much of the year taking the view that the oil market, which has been in oversupply mode, is headed straight for a glut through 2026, and that glut could reach as much as 4 million barrels per day (b/d) and further depress global prices along the way. That scenario still…
FRANKFURT, Germany (AP) — The United States and the European Union are hitting Russia with another round of sanctions, aimed at reducing oil and gas export revenues that finance Moscow’s war against Ukraine. More than three and a half years after the war, the effort remains a game of cat and mouse, with Russia finding…
By Nandita Bose and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would try to get China to do the same as Washington steps up efforts to cut off Moscow’s energy revenues. India…
