US EditionOil Holds Above $100, Stocks Fall as Khamenei Targets Hormuz
Oil prices hit $100 as the International Energy Agency plans to release a record 400 million barrels to ease supply fears amid Iran conflict risks.
- On Thursday, Brent crude surged more than 9 percent above $100 per barrel as traders weighed weeks or months of energy market turmoil from the Iran conflict, sending the S&P 500 down 1.5% and the Dow down 1.6%.
- Supreme Leader Mojtaba Khamenei released his first statement Thursday, pledging his country would maintain attacks on Gulf Arab neighbors and describing Tehran's threats against shipping as a 'lever' that 'must continue to be used.'
- Daily vessel transits through the Strait of Hormuz collapsed to no more than five ships per day since February 28, compared with an average of 138 before the war, while at least 16 commercial vessels have been attacked, including a Wednesday strike that crippled a Thai-flagged vessel off Oman.
- Energy Secretary Chris Wright said Thursday that Washington was 'not ready' to provide navy escorts for commercial shipping, though such operations could begin by month's end; the Treasury's temporary license for sanctioned Russian oil purchases also failed to move markets Thursday.
- Stagflation fears mounted following weak February hiring data, with oil prices roughly 40% higher since year's start and energy security expert Adi Imsirovic at the University of Oxford noting 'a lack of tangible goals in this war' makes resolution difficult for traders.
42 Articles
42 Articles
White House report card: Rising oil prices and mixed messaging
Welcome to Friday’s edition of Washington Secrets, when we hand over proceedings to two strategists for their take on the president’s week and what it all means. Donald Trump’s week has been dominated by the war in Iran (or “excursion” if you like), questions about who knew what about the strike that destroyed a school where children were sheltering, and what to do about the Strait of Hormuz. And on Saturday, he saw for himself the human cost wh…
The price of oil remained above $100 this Friday morning, in the midst of the escalation of the conflict between the United States, Israel and Iran, which is approaching its third week and keeps the energy markets on the alert and worries the economies by inflationary impact. Brent crude rose 0.6% to US$ 101 per barrel, while WTI advanced 0.1% and stood at US$95.87 per barrel. Oil prices chain another week of rises. Brent's futures accumulate an…
Stock markets slump, oil closes above $100
Stock markets slumped and oil closed above $100 a barrel for the first time since 2022 as the war spooked investors. The S&P 500 fell 1.5% Thursday, its worst single-day performance of the war so far, while a key European index fell 0.6%. Asian markets were hit particularly hard; a monthslong rally brutally ended in South Korea, where industry is heavily reliant on raw materials sourced from the Middle East. US gas prices rose for a 12th straigh…
InsideNoVA.com
Oil holds above $100, stocks fall as Khamenei targets Hormuz
Oil prices held gains above $100 Friday and most equity markets dropped after Iran's leader called for the blocking of the crucial Strait of Hormuz and the opening up of new fronts in the war against the United States and…
Coverage Details
Bias Distribution
- 35% of the sources lean Left, 34% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
