Gulf states called off a planned meeting with Iran as Yemen’s Houthis struck a Saudi airbase, sending oil prices higher amid a widening Middle East war.
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oil prices
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Oil rose more than 3 percent after new Houthi strikes on Saudi Arabia and Gulf tanker attacks deepened fears over a shut Saudi pipeline.
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Brent crude rose above $100 a barrel for the first time since July as escalating Middle East conflict deepened fears over regional oil supply.
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Iran says it will soon declare a new restricted zone in the Gulf and new Strait of Hormuz shipping maps, as fresh US-Iran attacks on ships lifted oil prices.
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KEY POINTS Shares of Italian energy giant Eni fell 3.29% on September 4, closing at €23.08 on the Borsa Italiana as investors awaited the company’s latest financial results. The stock …
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Oil headed for a weekly gain above 6 percent as US-Iran fighting resumed, while US diesel prices hit a record high, fuelling fresh global inflation fears.
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Oil prices fell further on Tuesday as investors shrugged off the latest US sanctions on Iran, with Brent down 1.0 percent to $91.27 a barrel.
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KEY POINTS Oil prices fell by more than $1 a barrel on Monday as investors took profits following a two-week rally and waited for details of new US sanctions expected …
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Oil prices hit a three-week high on Wednesday as uncertainty over shipping through the Strait of Hormuz and continuing supply disruptions supported the market.
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Oil prices rose in volatile trade on Wednesday after attacks on two ships and stalled US-Iran talks renewed worries about Middle East supply disruptions.