US Edition
Oil slides as Middle East uncertainty keeps markets on edge
Analysts raised oil forecasts as OPEC output fell 7.3 million barrels a day and traders weighed supply risks from the Strait of Hormuz.
- Oil prices rose on Wednesday, April 1, as Middle East volatility kept markets jittery despite reports that the U.S. and Iran may be edging closer to a negotiated end to the month-long war.
- The Hormuz Strait closure forced OPEC to cut output by 7.3 million barrels per day in March, illustrating how Middle East conflict disrupted global energy supplies and triggered record monthly gains.
- Brent front-month futures rose 66 cents to $104.63 per barrel, while WTI futures for May increased 96 cents to $102.34, reflecting market reactions to persistent supply disruptions.
- President Donald Trump stated on Tuesday the U.S. could end the military campaign within two to three weeks, his clearest declaration yet that Iran does not need to make a deal to end the conflict.
- LSEG analysts warned "limited tangible diplomatic progress" and "continued maritime attacks" keep supply risks high, while annual oil price forecasts rose by a record $19 from February to March.
33 Articles
33 Articles
Oil price dives as Donald Trump says Middle East war to end 'very soon'
Equities rallied and oil tumbled on Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had “the necessary will” to bring it to an end. The remarks came as the economic impact of the conflict worsens, with average US gasoline prices topping $4 a gallon for the first time in four years this week, European inflation spiking and governments unveiling a range o…
Irish News
Oil prices retreat and stock markets rally on Iran war resolution optimism
Stock markets in the UK and globally rebounded on hopes over an end to the Iran conflict, with the FTSE 100 Index soaring as much as 1.7%.
Daily Journal
Stocks rally, oil dives as Trump says war to end 'very soon'
Equities rallied and oil tumbled Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had "the necessary will" to bring it to an end.
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