Tag: oil price

• Monday, March 9th 2026 - 04:34 UTC

  Oil rises above US$100 a barrel as Middle East war and Hormuz disruption hit supply

  

  Oil prices climbed above US$100 a barrel on Sunday in futures trading, reaching their highest levels since 2022 as the war in the Middle East, the effective closure of the Strait of Hormuz and fresh production cuts among Gulf producers tightened supply expectations. Reuters reported Brent rose as high as US$111.04 a barrel while West Texas Intermediate (WTI) touched US$111.24 in early trading. AP later put Brent at US$107.97 and WTI at US$106.22, both more than 16% above the previous close.

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• Friday, March 6th 2026 - 15:41 UTC

  Oil posts its biggest weekly jump since 2020 as the Iran war disrupts Hormuz

  

  Oil became this week’s clearest barometer of the Middle East crisis, with Brent hovering near US$90 a barrel and WTI around US$87.5, putting both contracts on track for their biggest weekly advance since 2020. The same factor sits behind the surge: the de facto blockage of the Strait of Hormuz, through which roughly one-fifth of the world’s oil normally passes.

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• Wednesday, March 4th 2026 - 13:04 UTC

  Argentina hits oil output record on Vaca Muerta as Brent tops $80 on Iran war

  

  Argentina posted its highest monthly crude output on official record in January, at a time when global energy markets are again under strain from the Iran–Israel–US conflict and renewed pressure on key supply routes.

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• Monday, March 2nd 2026 - 21:16 UTC

  Revolutionary Guard say Strait of Hormuz is “closed”

  

  Iran’s Revolutionary Guards said on Monday the Strait of Hormuz is now “closed” and threatened to attack any vessel attempting to transit, in the most explicit warning yet against the Gulf’s main maritime chokepoint. A Guards commander said they would set any ship “ablaze” if it tried to pass, according to remarks carried by Reuters.

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• Monday, March 2nd 2026 - 12:38 UTC

  Oil jumps and shares fall as Iran warnings chill Strait of Hormuz traffic and shipping reroutes spread

  

  Global oil prices rose sharply on Monday and European equities fell as the regional conflict intensified, following attacks on vessels near the Strait of Hormuz and Iranian warnings to shipping in a chokepoint through which roughly a fifth of the world’s oil and gas trade moves.

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• Monday, June 23rd 2025 - 10:31 UTC

  Will Iran block the Strait of Hormuz?

  

  In response to the United States' attack on Saturday, the Iranian Parliament has approved closing the Strait of Hormuz. The decision, which could hinder international trade significantly, particularly that of oil, is awaiting approval from Iran's Supreme National Security Council.

• Tuesday, September 10th 2024 - 08:12 UTC

  Morgan Stanley, Goldman Sachs, Citi forecast oil price falling in Q4 and 2025

  

  Investment bank Morgan Stanley has again cut its forecast price for a barrel of oil, expecting the international benchmark to average US$ 75 a barrel in the last quarter of the year. This is because analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast.

• Monday, April 3rd 2023 - 09:42 UTC

  OPEC+ countries announce cut in output to keep price stable

  

  Oil-producing countries grouped under OPEC+ Sunday announced a voluntary cut in crude output of around 1.15 million barrels per day (bpd) in addition to a 2-million reduction agreed upon in October to boost prices, it was reported. The measure will come into effect in May and last until the end of this year.

• Friday, March 17th 2023 - 00:44 UTC

  With the collapse of Credit Suisse, oil prices continue to slide, 10% in a week

  

  Oil prices continued their slide on Wednesday after another banking fallout unsteadied the market further. WTI plunged 4.21% on Wednesday, falling below US$ 70 for the first time since December 2021 to US$ 68.33 per barrel ET. Brent Crude fell over 3.94% to US$ 74.40, for a loss of US$ 3.05 per barrel.

• Tuesday, April 26th 2022 - 09:43 UTC

  Guyana's first million barrels sale from the Liza Unity production platform

  

  Guyana has sold a cargo of one million barrels of its newest crude to ExxonMobil for US$106 per barrel, which was the first share for the government from the newly operational Liza Unity production platform operated by Exxon, according to Tsvetana Paraskova from Oilprice.com.