Crude Oil

Oil surged over 5% on Thursday, and Iran's denial that it had held any talks with the U.S. heightened doubts about the prospects of a rapid ceasefire for the Middle East conflict which has lasted nearly a month. The conflicting signals about the'scope of contact', as well as reports that thousands of U.S. troops were being sent into the region, halted the three-day recovery in the world?stocks? and reignited the selling on global debt markets. Germany's central banking head stated that an ECB interest rate hike next month is "an option". Norway also said they are likely to raise rates...

The head of the World Trade Organization stated 'on Thursday that the multilateral system had fundamentally changed 'and that countries should look towards the future in order to reform the global trading system. We will not get it back...We must look?to the future", WTO Director-General Ngozi Okonjo-Iweala told delegates at the opening?of the 14th WTO ministerial conference in Yaounde, Cameroon. We won't get it back...We have to look forward," WTO Director General Ngozi Okonjo Iweala said at the opening of the 14th WTO Ministerial Conference in Yaounde. Okonjo Iweala stated that 72% of the global trade still takes place under...

Investors tend to raise money first, and then ask questions. Investors who are aware of this phenomenon will not have a problem. It's a great opportunity. Gold dropped by nearly 4% in the four days following the first U.S./Israeli strike on Iran. So did European defence stocks. It seems strange. Gold has been historically a safe investment in turbulent times. Conflicts are usually the driving force behind military equipment demand. This is due to investor positioning, or more specifically, crowded trading. Many fund managers will execute a “program trade” to de-risk quickly and mechanically in order to raise money when...

Oil prices rose?on Friday, recovering some?previous-day's losses, as investors reexamined the prospects for a?deescalation of conflict in the Middle East. Iran also said that it was still evaluating a U.S. plan to end the conflict, which had disrupted the energy flow. Brent futures increased $1.13 or 1.1% to $103.35 a bar by 0051 GMT. U.S. West Texas intermediate crude futures were also up $1.08 or 1.2% at $91.40 a bar. Both benchmarks fell more than 2% Wednesday. Iran's Foreign Minister?said that despite reviewing the proposal, it has no intention to hold talks in order to end the growing conflict in...

U.S. Oil Prices rose in the early trade on Thursday. They recovered a portion of their previous day's loss as investors assessed prospects for de-escalation?in the Middle East. Iran also reviewed the U.S. proposal that would end the Gulf War, which has caused energy supplies to be disrupted. U.S. West Texas Intermediate Crude Futures?climbed over $1 to $91.42 per barrel at the opening?and were 93 cents or 1% higher at $91.25 per barrel as of 2225 GMT. WTI fell 2.2% on Tuesday. A senior Iranian official said on Wednesday that Iran was still reviewing a U.S. plan to end the...

The Trump administration announced Wednesday that it will suspend anti-smog federal regulations for seasonal gasoline blends to combat the higher prices at the pump since the start of 'the war against Iran. Environmental Protection Agency allows retailers to sell cheaper formulations of gas, including mixtures containing 15% ethanol (known as E15) that are not normally allowed during the warmer months. The waiver is valid for 20 days, starting on May 1. It can be extended as needed by the agency. "We anticipate a possible disruption in the American fuel supply," EPA administrator?Lee Zeldin stated at a news conference held on...

The administration of President Donald Trump announced on Wednesday that it will issue a waiver to expand sales of gasoline blended with 15 percent ethanol (E15) in order to combat higher pump prices since the beginning of the war against Iran. The Environmental Protection Agency's move will allow retailers to continue selling E15, which is a blend that is not typically allowed during the summer months due to smog concerns. Analysts believe the change will reduce retail prices by'several cents a gallon. AAA data shows that the average U.S. price of a gallon is now?just under $3.98. This is up...

The European stock indexes rose on Wednesday and the oil price fell on the day, as a result of reports that the U.S. was seeking a ceasefire lasting a full month with Iran, despite the fact that Iran had rejected the idea. U.S. president?Donald Trump said to reporters on Tuesday that he was?making progress? in negotiations for an end to war. This raised hopes that oil would be exported again from the Persian Gulf. The news of the ceasefire plan and the fact that the U.S. sent Iran a 15 point plan for discussion was welcomed by traders. According to...

Valero Energy Corporation is preparing to restart the 380,000 barrels-per-day (bpd),?Port Arthur oil refinery in Texas this week. The plant was shut down on Tuesday following a blaze and explosion the day before. Sources said that workers were blocking pipelines feeding the damaged 47,000 bpd Unit 243 Diesel Hydrotreater on early Wednesday morning. They added that the shutdown was necessary to put out the fire that started on Tuesday. In a regulatory filing, Valero stated that no injuries had been reported from the explosion, which was triggered by the release of process fluid on unit 243. The explosion could be...

Stocks rose on Wednesday and oil prices fell, on reports that the U.S. is seeking a ceasefire for one month in its war against Iran. A 15-point plan was sent to Iran?for discussion. This raised hopes of a breakthrough which could help restore oil from 'the Gulf. S&P futures increased by 0.7% during the Asia day. European futures grew by 1.2%, and FTSE Futures rose by 0.7%. These modest gains reflect investor caution. Brent crude futures fell 5% to $99 per barrel. Japanese stocks rose by 3% while Australian and South Korean markets rose by 2%. This was a recovery...

Chicago soybean futures declined on Wednesday. They tracked losses in soyoil due to lower crude oil prices, based on reports that the U.S. was seeking a ceasefire of a month for its war against Iran. The price of corn and wheat futures also declined. As of 0325 GMT, the?most active?soybean contracts on the Chicago Board of Trade slipped 0.2% to $11.52-3//4 a bushel. Soyoil dropped 0.8% to 65.21cents per pound. CBOT corn fell 0.7% and wheat dropped 6%, to $4.59-1/2 per bushel. The oil prices fell more than 5% on Wednesday, as a result of reports that the U.S. had...

Wall Street indexes dipped on Tuesday, and oil prices continued their recent gains. Worries persist over the?length of time that the U.S./Israeli war against Iran will continue. The U.S. was in contact with "the right people" to achieve an agreement that would end hostilities. Washington sent Iran a 15 point proposal aimed at ending war in the Middle East. Other media in the U.S., Israel and elsewhere reported this on Tuesday evening after the markets closed. Two people with knowledge of the matter said that the Pentagon was expected to send thousands more soldiers from the U.S. Army’s elite 82nd...

Tom Westbrook gives us a look at what the future holds for European and global markets. Donald Trump, U.S. president, told reporters in the White House that "we're currently in negotiations". He boasted about the Iranians making a "tremendous amount of money" concession. However, he did not provide any?further information. He said, "It was an incredibly nice thing they did." Iran has not confirmed the claim, and an official Iranian news agency reported that a spokesperson for the armed forces said that "the U.S. was negotiating with itself". The tone of the speech has caused oil to fall and stocks...

The global stock market fell on Tuesday while oil prices rose, as the relief rally that was sparked by President Donald Trump's decision to delay the bombing Iran's electricity grid fizzled, leaving investors in a state of uncertainty about the outcome of the Middle?East conflict. U.S. Treasury Yields rose and the dollar gained ground in a retracement of a rally that had swept the markets overnight. Trump extended his Saturday deadline for Iran to open the Strait of Hormuz to 48 hours citing "productive talks" Tehran. As the world struggles with a global energy crisis, Iran denies that it is...

On Tuesday, oil prices soared on fears of a shortage, after Iran denied that it had?talks? with the United States about ending the Gulf War, in contradiction to U.S. president Donald Trump, who claimed a deal would be reached soon. Crude futures dropped by more than 10% after Trump ordered the delay of attacks on Iran's power plants for five days, claiming that he had held talks with Iranian officials who were not named, and they had reached "major agreements". Brent futures were up $1.25 or 1.3% to $101.19 a barrel by 0858 GMT. U.S. West Texas Intermediate rose $2.15...

Market sources reported on Monday that the Japanese government was considering intervening in crude oil futures market, as the Middle East Crisis is driving energy prices'sharply up. If agreed upon, the move would 'follow Japan’s decision to release the largest amount of oil reserves ever, in coordination and cooperation with other countries, to ease the shortages caused by the U.S./Israeli war against Iran. One source stated that the government inquired about specific methods of intervening on the crude oil futures markets. Energy prices rose after the U.S. and Israel attacked Iran, according to the previous statements of the top executives...

The?world?markets quickly reversed their course on Monday, after U.S. president Donald Trump announced that he had ordered the military to "postpone any attacks against Iranian power plants and energy infrastructure", easing fears over a?deeper oil shock. The markets reacted quickly and clearly: Brent crude oil futures dropped sharply, and the dollar was devalued against major currencies. Stock markets rose and government borrowing rates fell. It was exactly what the markets needed to hear in order to re-price worst-case scenarios. Fiona Cincotta is a senior market analyst at City Index. She said that the Strait of Hormuz could reopen. It's already...

The world markets reversed their course quickly on Monday, after U.S. president?Donald Trump announced that he would 'order the military to delay?any?"military strikes" against Iranian power stations and energy infrastructure. This eased uncertainty and fears over the consequences of a greater oil shock. Brent crude oil futures dropped sharply. The dollar fell against major currencies. Stock markets rallied. Government?borrowing rates fell. "Trump's five-day pause has triggered a?sort of TACO? movement in the markets, where all prices have moved lower and rates are rallying," said Evelyne GomezLiechti. Trump stated that the postponement was a result of productive discussions with Iran. Gomez-Liechti...

Global shares fell on Monday, while U.S. Bond yields reached their highest levels in eight months as the U.S. traded escalating threat with Iran and Israel prepared for "weeks" of more fighting. This sent oil prices into another roller coaster. Iran said on Sunday that it would attack the water and energy systems of its Gulf neighbours if U.S. president Donald Trump carried out his threat to strike Iran's power grid within 48-hours. This ended any hope for an early end to this war, which is now in its 4th week. Trump said Iran has two days to open the...

U.S. president Donald Trump asked allies to help'secure the Strait of Hormuz' as Iranian forces 'continued attacks on this vital waterway during the U.S. and Israeli war against?Iran in its third week. Trump claimed that his administration has already reached out to seven countries but refused to name them. In an earlier post on social media, Trump said he hoped China would join the effort, as well as France, Japan and South Korea. Iran effectively closed the Strait between Iran and Oman. This narrow passage of water has cut off a fifth global oil supply, the largest disruption in history....

Diplomats and officials claim that the European Union's foreign ministers are expected to discuss Monday the augmentation of a small naval operation in the Middle East, but they will not?decide? on extending the mission to the blocked Strait of Hormuz. Aspides, the EU's mission in the Red Sea to protect ships against attacks by Yemeni Houthi rebels was created in 2024. The mission currently has two Italian and Greek ships under its command, and it can call on a French vessel and another Italian ship for assistance. Some European officials have wondered if the EU mission can help restore the...

Japan will'start releasing oil from their stockpiles? on Monday in order to ease the shock of the?U.S. - Israeli?war against Iran. This is a stark reminder to the oil crisis that occurred half a century earlier, which prompted Tokyo to build reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed the country's refineries to use the crude oil released, which will reduce national reserves by 17%...

The International Energy Agency said that more than 400 million barrels?of oil from its emergency reserves would begin to 'flow soon. The agency announced on Sunday that stocks of goods from Asia, Oceania, and North America will be available as soon as possible, and those from Europe and South America will be ready by the end March. The statement stated that the governments have committed to making 271.7 million barrels available from government stock, 116.6 millions barrels from industry stocks and 23.6million barrels from other sources. IEA?said that the majority of pledged reserves – 195.8 millions barrels – are from...

Japan will begin releasing oil on Monday to ease the shock of?the U.S. and Israeli war on Iran. This is a stark reminder of the oil shortage that occurred half a century earlier, which prompted Tokyo's creation reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed refiners to use the crude oil released, which will reduce Japan's national reserves by 17 percent, to ensure domestic supplies....