global oil prices

Houthis advance on Bab el-Mandeb as Saudi pipeline shutdown raises oil risks

On Sept. 11, Saudi Arabia announced the suspension of operations on a key pipeline carrying oil overland from the country’s east to its west. The move followed a drone attack and came shortly after Iran-backed Houthi forces in Yemen seized a strategically important island and port in the southern Red Sea, bringing them closer to controlling the Bab el-Mandeb Strait.

16 September, 12:24 PM

Oil nears $100 as Middle East war fuels fears of prolonged supply disruptions

Oil prices continued to rise on Sept. 9 as the war in the Middle East intensified, fueling concerns about prolonged supply disruptions, Reuters reported.

9 September, 12:01 PM

Oil prices tumble 4% as U.S.-Iran pause revives hopes for Hormuz shipping

Global oil prices tumbled about 4% on July 27 after the United States and Iran paused attacks against each other following two weeks of escalation.

27 July, 11:05 AM

Oil jumps as Iran-Israel clash raises fears of a prolonged Hormuz shutdown

Oil prices rose more than 4% amid signs of a new escalation in the Middle East conflict, Interfax reported.

8 June, 01:08 PM

Oil heads for worst week in months as traders price in U.S.-Iran deal

Oil prices fell more than 1% on May 29 and were headed for their steepest weekly drop since early April, Reuters reported.

29 May, 02:50 PM

Oil rises as Hormuz tensions mount after Iran video

Oil prices rose on April 24 amid fears of a wider Middle East war after Iran released a video showing commandos boarding a cargo ship in the Strait of Hormuz and reported air-defense strikes, according to Reuters.

24 April, 02:06 PM

IEA: Iran war triggers worst energy crisis in history

The global energy crisis sparked by the U.S. and Israel’s war against Iran is the worst on record, International Energy Agency (IEA) chief Fatih Birol told France Inter radio on April 21.

21 April, 12:57 PM

Oil falls as Lebanon-Israel truce eases wider Middle East war fears

Oil prices fell on April 17 as traders bet a newly announced 10-day ceasefire between Israel and Lebanon could help cool the wider war in the Middle East, Reuters reported on April 17.

17 April, 12:27 PM

Ukrainian gas stations react to Strait of Hormuz unblocking

A decrease in fuel prices in Ukraine is expected following discussions with the management of Naftogaz of Ukraine regarding the situation on global oil markets, Prime Minister Yulia Svyrydenko announced on April 7.

8 April, 01:32 PM

Oil slides sharply as U.S.-Iran ceasefire cools supply fears

Oil prices tumbled more than 10% early on April 8 amid news of a two-week ceasefire deal between the United States and Iran, easing concerns over supply disruptions in the Middle East, Interfax-Ukraine reported on April 8.

8 April, 10:29 AM

IMF warns of global shock from Middle East conflict

The U.S.-Israeli military campaign against Iran threatens a "global but asymmetrical" shock that clouds the prospects of recovering economies, International Monetary Fund (IMF) wrote on March 30.

31 March, 12:41 PM

G7 ministers scramble to hold emergency meeting on Iran war's economic fallout

G7 finance and energy ministers will hold an emergency meeting to discuss minimizing the economic fallout from the U.S. and Israeli war with Iran, Politico reported on March 30.

30 March, 12:06 PM

Trump team reviewing $200 oil scenario in case of prolonged Iran war

U.S. officials under President Donald Trump are examining the possible consequences of oil prices reaching $200 per barrel if the war with Iran drags on, Bloomberg reported on March 26, citing sources familiar with the matter.

26 March, 12:04 PM

Global oil prices jump 4% as Tehran refutes Trump's claims of Gulf peace talks

Oil prices rose after Iran denied holding talks with the United States regarding an end to the war in the Persian Gulf, contradicting U.S. President Donald Trump's claims about an imminent agreement, Reuters reported on March 24.

24 March, 11:46 AM

Oil surge lifts Russia revenues, easing pressure on Kremlin budget

Russia’s federal budget could increase oil tax revenues to the 2024 average of 1.2 trillion rubles by the end of March if global oil prices remain elevated, The Moscow Times reported.

19 March, 12:12 PM

Trump risks defeat at home as Iran war drives oil prices and inflation higher

The war with Iran and its economic fallout — including a sharp rise in oil prices and, as a result, higher costs for Americans across the board for a prolonged period — could lead to the “defeat” of U.S. President Donald Trump, according to an analysis by The Guardian examining how the conflict could affect the American leader.

15 March, 04:05 PM

IEA weighs massive oil reserve release

The International Energy Agency (IEA) is considering releasing strategic oil reserves to stabilize global prices, which have surged following the U.S. and Israeli military operation against Iran, The Wall Street Journal reported on March 10, citing informed officials.

11 March, 09:25 AM

global oil prices