Oil Prices Rise to $90 per Barrel, Then Dip Slightly
- Oil prices rose to about $90 per barrel due to energy supply concerns linked to tensions at the Strait of Hormuz, then dipped slightly to Brent Crude at $87.94 and Crude Oil at $82.35.
- US stocks closed lower on August 10 amid investor uncertainty about reopening the Strait of Hormuz, with Dow Jones Futures down 0.09%, S&P 500 down 0.06%, and Nasdaq down 0.32%.
- Shares of semiconductor companies Intel and Nvidia declined by 4.1% and 2.9% respectively, after Intel announced a $15 billion share sale.
- Diplomatic tensions remain high, with the US demanding compensation from Iran for war-related deaths, and Iran requiring conditions from the US for damage compensation following US and Israeli strikes.
26 Articles
26 Articles
The prices of this raw material are very optimistic, falling with every hope of settlement.
Berliner Morgenpost
The Middle East expert Ali Fathollah-Nejad describes the prospects in the Iran conflict in an interview. Is there a threat of long instability in the Middle East?
Oil Prices See $8 Roundtrip, Energy Market Pricing In Longer Supply Disruption
WTI traded back to $82 today, up 5%. That's an $8 round-trip inside of a week. The gas ratio is pricing in risk of a bigger, longer global energy supply disruption - more war. Read more here
Middle East Conflict Fears Weigh on Wall Street as Energy Prices Surge
Get latest articles and stories on Business at LatestLY. US stocks closed lower on August 10 as investors became less confident about a resolution to reopen the Strait of Hormuz, according to a Reuters report. Energy supply concerns pushed US crude oil prices up about 5 per cent. Reopening the flow through the Strait could ease concerns over energy prices that have raised worries about inflation and potential central bank rate hikes. Business Ne…
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