US EditionIran: Oil Prices Surge to Two-Year High of Above $90 as Qatar Issues Fresh Warning
Brent crude prices surged 23% since late February due to U.S.-Israeli strikes on Iran and Tehran's missile retaliation against Gulf allies, raising global market tensions.
- On Friday, ICE Brent crude for May delivery rose to $90.60 b by 10 a.m. EST and peaked at $91.89, while NYMEX WTI climbed to $87.80 after reaching $89.62, narrowing the Brent‑WTI spread to $2.27.
- U.S. and Israeli air raids have hit Iran for a sixth day, with the global crude benchmark up 23% since Feb. 27, raising risk premiums.
- Refined-Fuel contracts rallied, pushing diesel near 3½-year peaks as RBOB futures for April delivery surged to $2.7333 and settled at $2.7024, while NYMEX ULSD front month, April, peaked at $3.7485 and settled at $3.6948, with the April-May contract spread widening to nearly $4.
- For this month alone, the U.S. crude benchmark has risen 30% and the April-May contract spread widened to nearly $6 on tight near-term supply.
- The U.S. Treasury's Office of Foreign Assets Control issued General License 133 on March 4 allowing sale of Russian-origin petroleum loaded by March 5, a reprieve specifically for India.
23 Articles
23 Articles
Iran: Oil prices surge to two-year high of above $90 as Qatar issues fresh warning
Crude oil prices surged to a two-year high of above $90 per barrel on Saturday after Qatar’s energy minister warned he expects all oil and gas exporters in the Middle East to stop production within days. A check by DAILY POST on oil prices as of Saturday morning showed that Brent crude rose to approximately $93 per barrel, while West Texas Intermediate stood at $91 per barrel. This means that Brent rose by 9 percent, the highest level since autu…
Brent type oil (world reference) with winning in May jump 8.52% and WTI (American reference) with expected delivery for April scaled 12.21%
Trump's promise to continue the war until Iran's "capitulation" increases the risk of a long confit.
Black gold prices continue to jump on Friday, doped by the risks to oil supply in the Middle East after Trump's promise to continue the war until Iran's "total capitulation" ...
The price of oil reaches a maximum of almost two years.The possibility that Donald Trump is considering an intervention in the future market does not cause the desired effects.The risk of an energy crisis weighs more on investors, driving the quotation of 'black gold'.The Brent, of reference in Europe, shoots almost 6% before the opening of Wall Street, and shoots the 90 dollars per barrel, an unprecedented quota since the spring of 2024.The reb…
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