Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
Oil prices plunged more than six per cent on Monday as a pause in hostilities between the United States and Iran eased fears that the conflict could disrupt energy supplies from the Gulf.
The retreat unwound part of the risk premium that had built up during the latest escalation, when traders were focused on potential disruption to shipping and crude flows near the Strait of Hormuz.
The strait remains one of the world's most important energy chokepoints, and any threat to tanker traffic through the waterway can quickly feed into crude and fuel markets.
The pause in fighting reduced immediate concern that the conflict would broaden, though market participants continued to watch diplomatic signals and shipping conditions for signs of renewed risk.
The move also highlighted how sensitive oil prices remain to developments in the Middle East after recent attacks and warnings raised concern about supply security.
Shipping through the Strait of Hormuz slowed to a near standstill over the weekend, with five commodity vessels transiting Saturday and none on Sun...
South Korea's presidential Blue House said on Monday it was reviewing U.S. President Donald Trump's comments on scaling back joint military...
American actress Hayden Panettiere...
At least 11 people were killed in Israeli strikes on southern Lebanon on Saturday, among the deadliest since a June ceasefire. Meanwhile, Qatar denied holding Iranian pilots. It said it had found the remains of one pilot after an airspace violation and had contacted Iran to coordinate a handover.
A wildfire in Croatia driven by strong winds descended on the tourist town of Omis overnight, engulfing houses, forcing about 1,000 people to evacuate to safety and injuring dozens, fire brigade and health officials said on Friday.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Minister, Kazem Gharibabadi, who said the sea passage "cannot be seized by tweet."
At least 47 people have been killed after a magnitude 7.7 earthquake struck off eastern Indonesia early on Saturday, triggering small tsunami waves and dozens of aftershocks, officials say.
Russia and Ukraine traded large-scale overnight attacks targeting energy, industrial and military facilities on Saturday, with a three-month-old baby killed and 11 people injured in a Russian drone strike on a residential building in Ukraine’s Dnipropetrovsk region.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment