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Oil Set for Second Weekly Rise as Unsettled US-Iran War Crimps Supply
Oil prices climb for the second week amid Middle East supply fears, with Strait of Hormuz shipments falling by half as the U.S.-Iran conflict persists.
- Oil prices edged lower on Friday but remained on track for a second weekly gain as the stalemated U.S.-Iran war continues to disrupt supply from the Middle East.
- Disruptions to energy flows persist as the war approaches the six-month mark, with Seven commodity ships transiting the Strait of Hormuz on Thursday—half the previous day's tally—amid Iranian and U.S. blockade pressure.
- President Donald Trump threatened "economic warfare and isolation on an unprecedented scale" against Tehran on Wednesday, while Treasury Secretary Scott Bessent warned of "the toughest sanctions in history" for nations aiding Iran.
- BMI stated on Friday it will review its Brent price outlook this month, as ANZ's Kumari noted the market is adjusting to the reality that supply conditions are unlikely to return to prewar levels soon.
- The United States will reveal details of its economic pressure campaign on Monday and seek support from China, while Ukrainian drone attacks on Russian oil facilities like the TANECO refinery continue straining global benchmarks.
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·Rio de Janeiro, Brazil
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Oil Prices Head for Second Weekly Gain as U.S.-Iran Conflict Disrupts Middle East Supply
Oil prices edged lower Friday but remained on track for a second consecutive weekly gain as the unresolved U.S.-Iran conflict continued to disrupt crude supplies ... The post Oil Prices Head for Second Weekly Gain as U.S.-Iran Conflict Disrupts Middle East Supply first appeared on [your]NEWS.
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The Express Tribune
The Express TribuneOil set for second weekly gain as US ramps up pressure on Iran
Aug 21 : Oil prices edged lower on Friday but were on track for a second straight weekly gain after the United States threatened to impose "the toughest sanctions in history" with no end in sight for disruptions to Middle East oil flows.Brent crude futures fell 17 cents, or 0.18 per cent, to $93.61 a barrel b
·Singapore, Singapore
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right3Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 18%
C 55%
R 27%
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