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Oil settles up by more than 2.5% as US and Iran resume military attacks
Oil prices climbed after renewed U.S.-Iran strikes and fresh tanker attacks, with Brent up 2.71% and shipping through the Strait of Hormuz still constrained.
- On Monday, oil prices rose more than 2.5 per cent as renewed military action between the US and Iran rekindled supply fears; Brent crude futures settled up 2.71 per cent to US$90.49 a barrel.
- The conflict, now in its sixth month, has disrupted transit through the Strait of Hormuz, where daily commodity vessel traffic fell to five as mediators seek to reopen the vital waterway.
- On Sunday, President Donald Trump claimed Iran's Kharg Island was being "blown to smithereens," though evidence of an attack remains absent; Vice-President Vance described the post as a message to Iran.
- US Strategic Petroleum Reserve stocks fell 3.1 million barrels to 286.6 million, nearing a 44-year low, while Treasury Secretary Scott Bessent stated on Monday that US sanctions aim "to create the conditions that they will want to come to the table."
- President Donald Trump announced on Sunday that the US secured oil through a new deal with Venezuela to replenish the Strategic Petroleum Reserve, with companies like Chevron and Eni finalizing energy projects.
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New attacks by the US against Iran put pressure on oil prices. This does not make investors nervous.
·Frankfurt, Germany
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FTSE 100 Live: Stocks to fall as Trump vows more strikes on Iran
Welcome back to the City AM liveblog. The London market is returning from the Bank Holiday break to an expected fall as tensions in the Middle East are simmering over again leading to the price of oil moving higher. Brent crude – the international benchmark for oil prices – climbed over $91 per barrel on [...]
·London, United Kingdom
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Coverage Details
Total News Sources49
Leaning Left5Leaning Right6Center8Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 26%
C 42%
R 32%
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