European, African Oil Market Gets Tighter as Asia Buys More

European, African oil market gets tighter as Asia buys more

LONDON, March 30 : The European and African oil market is showing more signs of tightness with some crude differentials hitting record highs as peak summer demand nears and Asia seeks supplies to fill shortages caused by Iran's blocking of the Strait of Hormuz, now into its fifth week. The Iran war has force

Iran conflict sends oil above $115, triggers Asia market sell-off

Global oil prices have surged past $115 and Asian markets have witnessed a sharp decline in stocks after the US-Israel war with Iran entered its fifth week. Brent crude jumped over 3 percent to top...

Oil Rises, Asian Markets Sink as Middle East War Broadens

The crisis in the Middle East has escalated on Monday and over the weekend with Houthi rebels joining the conflict and Iran launching attacks on aluminium smelters in Bahrain and the United Arab Emirates. There is also speculation that the United States could deploy troops and perhaps attempt to seize Iranian oil production facilities on Kharg Island – or bomb-grade uranium. This suggests more weeks of upheaval. So, it was no surprise to see oil…

Oil rises above $115 and Asia shares slide as Iran war escalates

LONDON — Global oil prices jumped to their highest level in nearly two weeks on Monday morning while stocks fell sharply in Asian markets as the US-Israel war on Iran escalates on multiple fronts. The price of Brent crude rose by more than 3% to above $115 (£86.77) a barrel, while US-traded oil climbed to $103 after gaining around 3.5%....

Oil Surges Past $115 as Asian Markets Drop Amid Escalating Iran Conflict

Global oil prices climbed sharply while Asian stock markets declined Monday, as the conflict involving the United States, Israel and Iran entered its fifth week, intensifying concerns over energy supplies and economic stability. Brent crude futures rose more than 3% to exceed $115 (£86.77) per barrel, while U.S. benchmark oil gained nearly 2% to reach