Crude Oil

Stocks and bonds soared after U.S. president Donald Trump announced a two-week ceasefire. This brought relief to the markets as they hoped for a return of oil and gas flows through Strait of Hormuz. Trump announced the ceasefire just two hours before the deadline he set for Iran to reopen its strait, or face damaging attacks on civilian infrastructure. Iran has said that it will cease its counter-attacks if the attacks on it stop. After past policy reversals the market rally revived investor talks of the TACO trade - or Trump Always Chickens Out. However, some pointed out that the...

Ankur Banerjee gives us a look at what the future holds for European and global markets After U.S. President Donald Trump and Iran agreed on a two week ceasefire, Europe will be greeted with a sparkling'relief rally' across all assets. This could pave the way for the reopening of?the Strait of Hormuz and a wider resolution. The agreement, reached just hours before Trump set a deadline for Iran to open the Strait of Hormuz, was a dramatic change from his earlier warnings that "a civilization would die tonight" if he did not get what he wanted. The agreement is conditional...

Donald Trump, the U.S. president, announced on Tuesday that Iran had agreed to a ceasefire lasting two weeks. This was less than 'two hours' before Trump set a deadline for Tehran to open up the Strait of Hormuz or face attacks on civilian infrastructure. Oil fell, bonds rose and stocks soared after the ceasefire. It was seen as opening the door to a lasting peace as well as resuming Gulf oil and gas exports. Here are some comments from analysts and investors: JAMIE COX MANAGING PARTNER HARRIS FINANCIAL GROUPS, RICHMOND VIRGINIA Markets had predicted that Trump would be looking for...

After a two week ceasefire, investors cheered the possible return of oil and gas flowing through the Strait of Hormuz. U.S. president Donald Trump announced that he had agreed to suspend the bombings and attacks against Iran for two week and that an agreement on a long-term peaceful solution was being worked out. The global markets are shook since U.S. and Israel launched an attack on Iran at the end of February. This led Tehran to close the Strait o'Hormuz - a waterway that is used to transport one fifth of the world’s oil and natural gas. U.S. crude futures...

U.S. president Donald Trump announced on Tuesday that he and Iran had reached an agreement for a two-week ceasefire, less than 2 hours before the deadline he set for Tehran to reopen Strait of Hormuz. Otherwise, he said, it would be subject to widespread attacks?on civilian infrastructure. The 'ceasefire' was seen as opening the door to a lasting peace, and the resumed export of Gulf oil and natural gas. Here are some comments from analysts and investors: ANDREW LILLEY IS THE CHIEF RATES STRATEGIST AT BARRENJOEY IN SYDNEY. "We have a way to go to get back where we were...

U.S. president Donald Trump announced on Tuesday that he had reached an agreement with Iran to establish a two-week ceasefire, less than 2 hours before his deadline for Tehran to reopen the Strait of Hormuz. Oil fell, bonds rose and stocks soared after the ceasefire. It was believed that the ceasefire would pave the way for a "lasting peace" and the resumption in Gulf oil and natural gas exports. Below are some responses from analysts and investors: MARTIN WHETTON HEAD OF FINANCIAL MARKETS STRATEGY WESTPAC SYDNEY This is what always happens. Does this mean people will take on new risks?...

China has again reduced its gasoline and diesel price increases to half of what they usually are. This is to try to reduce the rising oil prices caused by the Iran War and the closure of the Strait of Hormuz. The oil prices continued to rise after Iran rejected the United States' ceasefire proposal and as a deadline for Tehran, set by U.S. president Donald Trump, to come up with a deal before he was "taken out", grew closer. The NDRC (National Development and Reform Commission) announced that the retail gasoline and diesel prices would increase by 420 yuan and...

U.S. equity indices closed modestly higher on Monday and U.S. crude oil futures settled above $112 per barrel as investors awaited clarity about the prospects for a solution to the conflict in the Middle East. President Donald Trump reiterated his threats to strike Iran until Tehran made a deal by Tuesday night. Iran stated on Monday that it wants to end the war with Israel and the U.S. for good and refused to allow the Strait of Hormuz to be reopened. Trump said that if Iran did not meet the deadline he set for Tuesday night, it could be "taken...

As investors awaited further signals on the U.S. - Iran situation, gold prices fell slightly Monday. By 1:31 pm, spot gold had fallen 0.4% to $4,654.99 an ounce. ET (1731 GMT). U.S. Gold futures closed 0.1% higher, at $4684.70. Iran said that it wants a lasting solution to its five-week war with Israel and the U.S. It has refused to reopen the Strait of Hormuz quickly under the temporary ceasefire, as both nations consider a framework for ending their conflict. Donald Trump said he would rain "hell" down on Iran if a deal was not reached by Tuesday. The focus...

Market participants were waiting to see if ceasefire talks could?avert a escalation of?the U.S.-Israeli War on Iran, as the deadline for reopening the Strait of Hormuz approaches. By 11:22 am, spot gold had not changed much from $4,669.27 an ounce. ET (1522 GMT), after falling by 1% in the earlier session. U.S. Gold futures increased 0.3% to $4694.50. The United States and Iran are weighing the structure of a plan that will end their five-week conflict as they prepare to meet a U.S. deadline. Meanwhile, Tehran is resisting pressure to reopen the Strait of Hormuz. Donald Trump, the U.S. President,...

Oil prices rose and bonds fell at the beginning of Asian trading on Monday, as U.S. president Donald 'Trump' vowed to "hell" should Tehran not meet his deadline?to reopening the Strait of Hormuz. Trump's repeated threat to destroy civil infrastructure, including power plants and a bridge, if the crucial waterway isn't open by Tuesday has put traders on alert for retaliatory attacks from Iran against targets in the Gulf States. S&P 500 futures fell 0.2% as liquidity was thin, and many countries in the region were on holiday. MSCI's broadest Asia-Pacific index outside Japan rose 0.5%. The Nikkei rose by...

Taiwan's economy minister announced on Saturday that the energy minister of a "major country" producing liquefied gas had given Taiwan assurances about supply. He was speaking in relation to the?impact of the Iran War on Middle East energy imports. Taiwan, which is a major producer of semiconductors, relied on Qatar to supply around a third its LNG prior to the conflict. It has now said that it has secured alternative supplies from countries such as Australia and the United States for the months ahead. Kung Ming Hsin, Taiwan's Economy Minister, told reporters in Taipei that Taiwan enjoys good relations with...

The physical oil markets are still in a world of pain, despite a planned two-week truce between the United States (US) and Iran. Brent crude oil contracts plunged by as much as 16 % to $91.70 per barrel during early Asian trading on Wednesday, after ending at $109.27 a barrel on Tuesday. The rapid selloff is a sign of relief that President Donald Trump has delayed his alarming threats to wipe out the Iranian civilisation. This also reflects the optimism that crude, refined products and liquefied gas (LNG), may be able to resume and continue through the Strait of Hormuz...

Analysts say that the closure of Hormuz creates a very tight market for oil deliveries in the near future. Data from LSEG shows that the price of North Sea Forties crude has reached a record high. Expert: * Fear over supply is driving physical price higher. (Adds Platts dated Brent assessment in paragraph 8, adds LSEG in paragraph 10) By Alex Lawler LONDON, 7 April - European and Asian refiners have paid record prices of near $150 a barrel for certain crude oil grades. This is far higher than the paper futures price, highlighting the worsening crisis in supply caused...

Analysts say that the closure of Hormuz creates a very tight market for oil deliveries in the near future. LSEG data: North Sea Forties crude reaches a?record-high outright price Expert: * Fear of shortages is driving physical prices up By Alex Lawler LONDON, 7 April - European and Asian refiners pay record high prices of nearly $150 per barrel for a few crude oil grades. This is far higher than the paper futures price, which highlights the worsening crisis in supply caused by the U.S./Israel war against Iran. Iran's closure of the Strait of Hormuz has caused the Middle East...

Iran attacked Saudi Arabia’s Jubail petrochemical complex on Tuesday, the heartland of the downstream sector in the kingdom, according to a statement from the Islamic Revolutionary Guard Corps. However, it wasn't immediately clear exactly what was struck. Jubail is a sprawling city that houses multi-billion dollar joint ventures between Saudi Aramco, the state-backed oil company, and SABIC, its petrochemicals subsidiary. The IRGC stated that the attacks were "in retaliation to enemy crimes?in the attack against (Iran's Asaluyeh petrochemical factories." The exact location of the incident was not immediately known. Video footage confirmed by showed smoke and fires rising in the...

Kang Hoon Sik, the South Korean chief of staff to the president, said that he was traveling to Kazakhstan, Oman and Saudi Arabia on Tuesday to procure crude oil and naphtha due to disruptions in shipping through Strait of Hormuz. Kang will depart on Tuesday evening as the special envoy of President Lee Jae Myung to hold discussions with governments, energy firms, and ship operators in order to ensure that cargoes arrive at 'domestic ports' and to maintain stable supplies of essential goods, such as medical products. He said that South Korea needed to diversify its supply lines urgently, as...

A study found that the closure of the Strait of Hormuz and the subsequent?surge of global oil prices has brought financial windfalls for Iran, Oman, and Saudi Arabia. Other states, however, who lack alternate shipping routes, have suffered?billions of dollar losses. Iran closed the Strait, a route that accounts for a fifth or more of the global oil and gas flows. This was after U.S. airstrikes and Israeli strikes on Iran in February triggered a wider conflict. Later, it said that vessels with no U.S. and Israeli connections would be allowed to transit the Strait. Some tankers have managed to...

Oil prices rose more than $4 on Thursday, after President Donald Trump announced that the United States will 'continue to strike iran in the coming weeks, including energy and oil targets, but did not give a timeline for the end of the war. Brent crude futures increased by $4.88 or 4.8% to $106.04 a barrel at 0200 GMT. U.S. West Texas Intermediate Crude Futures rose $4.17 or 4.2% to $104.29 per barrel. Both benchmarks fell by more than $1 on Thursday, before Trump's speech. They also settled lower the previous session. Trump stated in a televised address?to the country that?the...

Fatih Binol, the head of the International Energy Agency, said that oil supply disruptions from the Middle East would?rise? in April. They will begin to?impact? the European economy because the Strait of Hormuz is closed. He added that more than 12 million barrels have been lost due to the attacks by Iran on energy?assets and the restrictions on shipping through Strait since the U.S./Israel war against Iran began. "The loss of oil in April will be double the loss of oil in March. On top of that, the loss of LNG... The loss of?oil in April will be twice as...

Who needs to "search for another safe place" if Warren Buffett doesn't mind Berkshire Hathaway piling up more cash? Berkshire reported ending 2025 as having a massive $373 billion in cash. However, this cash pile appears to be largely intact and legendary chairman of the conglomerate claims that they have moved more money into the cash?pile during the past week. Buffett said on CNBC that they had bought T-bills worth $17 billion this week. He added that, beyond the "one tiny purchase," there was not much else to buy and their cash position was "somewhere near $350 billion." He dismissed...

Brent futures extended gains following a'record monthly % increase in March. Middle East volatility continued to keep markets jittery, despite reports suggesting that the U.S. and Israeli war against Iran could be coming to an end. Brent front-month contract for June rose $1.40 or 1.4% to $105.37 a barrel at 0430 GMT. Brent logged a monthly gain record of 64% in march, according to LSEG's data dating back to June 1998. The U.S. West Texas Intermediate (WTI), crude futures for the month of May increased by $1.59 or 1.6% to $102.97 per barrel. Brent futures for June delivery recovered some...

Early Wednesday, oil prices rose, as Brent front-month contracts?extended a record rally in March, despite reports suggesting that the U.S., Iran, and other Middle East countries may be moving closer to a negotiated settlement of the 'war. Brent front-month contract for June delivery rose?66cents or 0.63% at $104.63 per barrel by 0010 GMT. According to LSEG, the front-month Brent contract for June?delivery hit a monthly record gain of 64%. U.S. West Texas Intermediate crude futures (WTI) for May increased by 96 cents, or 0.95%, to $102.34 a barrel. WTI futures in June rose by 46?cents, or 0.49%, to $93.62 a...

A senior government official from the Ministry of Chemicals and Fertilizers said that India has adequate fertilizer stocks and is relying on 'alternative sources' to increase supplies for summer-sown crop plantings. Aparna Sharma, an additional secretary at the Ministry of Chemicals and Fertilizers, said that the Gulf region was responsible for 20%-30% of India's imports of urea, as well as 30% of Diammonium Phosphate before the Iran War. She said that India will need to purchase 39 million metric tonnes of fertiliser for the summer crop planting season. Current stocks are 18 million tons, compared to 14.7 millions tons last...