Oil prices climb again as Iran tensions fuel supply fears
Brent crude briefly topped $91 as Trump questioned a deal extension, while U.S. crude and bond yields also rose on renewed supply fears.
- Crude oil prices rose with U.S. crude futures at $83.03 and Brent crude at $89.33 per barrel amid Iran refusing to extend a memorandum of understanding with the U.S. and threatening a shift to offense if diplomacy fails.
- Iran's Foreign Ministry stated there were no negotiations to extend the 60-day memorandum of understanding with the U.S., citing violations from the start.
- Indian stock markets, including the BSE Sensex and NSE Nifty, declined due to rising crude prices and geopolitical tensions in West Asia.
- Experts noted that geopolitical risks and crude oil prices near $88 per barrel are restraining risk appetite in equity markets.
139 Articles
139 Articles
Oil prices rise as Trump cuts off talks with Iran
Oil prices hit their highest level in weeks after US President Donald Trump cut off talks with Iran for the foreseeable future on Tuesday, and Tehran said the Strait of Hormuz would remain shut amid stalled negotiations. US retail gas prices hit their highest-ever August levels this week, but “the global economy’s apparent success in adapting to the [strait’s] closure suggests the US can afford to wait,” Eurasia Group analysts wrote. While a sma…
The naval blockade remains fully in force. The Strait of Ormuz is open and operational. All sea mines have been removed or detonated.
Oil prices are rising again as a 60-day deadline for a peace deal between Iran and the United States expired. Brent crude climbed above $90 a barrel for the first time this month, as Iran said it would adopt a belligerent stance and be ready for escalation in the Strait of Hormuz, where a tanker was attacked on Tuesday. But Donald Trump, who on Monday called on Iran to raise the white flag, is now saying the Strait of Hormuz is open and oil pric…
'Presidency-ending scandal' flagged by expert: 'Should be huge'
President Donald Trump doubled down on his threat to annex the Strait of Hormuz as a U.S. territory – which an expert flagged as a violation of international law.The 80-year-old president first suggested the idea of taking control of the Persian Gulf waterway, which is located in the territorial waters of Iran and Oman, at a campaign-style event on Friday and then claimed Monday the U.S. already controlled it, and he posted a map Tuesday morning…
Oil prices hit highest level since JulyOil prices rose on fears of supply disruptions after Iran's statements of offensive posture and U.S. refusal to continue agreement. Brent reached $90.94, WTI at $85.03 per barrel.
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