Oil Prices Lower Alongside Possibility of US-Iran Truce
Brent fell 1.1% as traders weighed a possible US-Iran truce against Houthi attacks and refinery outages that could still disrupt supply.
- On Friday, oil prices fell about 1% as markets weighed diplomatic breakthroughs between the United States and Iran against supply disruption fears from Houthi attacks on Saudi Arabia.
- The Houthis have repeatedly fired into Saudi Arabia, disrupting flows from the world's largest energy exporter as part of a wider Middle East war that began with US and Israeli strikes on Iran on February 28.
- Crude oil flows reached 33.7 million barrels for the week starting September 20, with traffic comprising 19 tankers, including 17 VLCCs that can carry 2 million barrels of oil.
- Negotiators in New York are exploring a phased path out of the conflict, which would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade, according to sources close to the talks.
- Separately, President Donald Trump made clear during talks with Chinese President Jinping that Chinese help for Iran is unacceptable, US Ambassador to China David Perdue said on Friday.
19 Articles
19 Articles
New York., Oil prices fell more than 2 percent yesterday in the hope of achieving a truce between the United States and Iran that would allow the reopening of the Strait of Ormuz, although operators were concerned that the increase in Houthi attacks on Saudi Arabia could disrupt the supply.
Oil prices declined in the settlement of Friday's dealings, with growing hopes for a truce between the United States and Iran that would reopen the Strait of Hormuz, despite continuing concerns about the impact of the Houthi attacks on Saudi supplies.
Oil prices fell about 3 percent on Friday after U.S.-Iranian talks raised hopes of a deal, while escalating attacks on Saudi Arabia by Yemen's Houthi rebels continued to pose a serious risk to Middle East supply.
Oil Prices Lower Alongside Possibility of US-Iran Truce
Oil prices fell about 1% on Friday as markets weighed the possibility of a truce between the US and Iran against concerns that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer.Brent futures were down $1.14…
Reformatorisch Dagblad
The AEX index on the Damrak started Friday with gains, partly due to price increases by steel group ArcelorMittal and chip companies ASMI, ASML, and Besi. Oil prices fell after the strong rally the previous day. According to the business newspaper Financial Times, Iran has made a new proposal to the United States that should lead to a ceasefire and the reopening of the Strait of Hormuz within seven days.
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