Oil surged following reports of an Israeli airstrike in Iran, heightening tensions in the region that accounts for a third of global crude production.
Brent rose as much as 5.7%, jumping above $73 a barrel, while West Texas Intermediate also rallied. The Israeli Air Force conducted a strike in Iran on Thursday, Axios reported, citing two unidentified people with knowledge of the operation. Earlier, US President Donald Trump said Israel "could very well" strike Tehran.
President Donald Trump said Israel "could very well" strike Iran but that he had advised against an attack while negotiations were ongoing, as the departure of US staff from the region fans concerns about a coming assault. "I don't want to say imminent, but it looks like it's something that could very well happen," Trump told reporters at an event Thursday at the White House. The US is talking to Iran about curbing its nuclear weapons ambitions.
Oil is on course for a substantial weekly gain amid the spike in tensions in the Middle East. JPMorgan Chase & Co. had warned that oil could reach $130 a barrel in a worst-case scenario. The US and Iran are scheduled to hold a sixth round of nuclear talks in Oman on Sunday.
Brent for August rose 5.7% to $73.30 a barrel 8:13 a.m. in Singapore.
WTI for July delivery surged 5.3% to $71.65 a barrel.
Source : Bloomberg
Oil prices rose in early Asian trading after OPEC and its allies (OPEC+) agreed to increase production by 137,000 barrels per day in December. Despite the increase, the group stated that it would not ...
Oil prices headed for a third straight monthly decline, falling on Friday (October 31st) due to a stronger US dollar, weak Chinese data, and rising supply from major global producers. Brent crude fut...
Oil headed for a third monthly drop on concerns about a global glut, with OPEC+ expected to back another supply hike this weekend. West Texas Intermediate fell toward $60 a barrel, on track for ...
Oil prices fell on Thursday (October 30th) as investors assessed the potential for a truce in the trade dispute between the United States and China. President Donald Trump lowered tariffs on China aft...
Oil edged lower as traders counted down to a summit between US President Donald Trump and Chinese counterpart Xi Jinping and, beyond that, an OPEC+ meeting on supply. West Texas Intermediate fel...
The US dollar held near a three-month high on Monday (November 3rd) ahead of economic data this week that will provide only vague clues about the health of the US economy and could reinforce the Federal Reserve's cautious stance. The Fed cut...
Gold prices rose on Monday (November 3), boosted by expectations of further US interest rate cuts following comments from the US Federal Reserve Board's Christopher Waller, although a stronger dollar and easing trade tensions curbed those...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October. Investors continued to digest recently released corporate earnings while awaiting new market...
Federal Reserve Bank of Dallas President Lorie Logan said she does not support the U.S. central bank's decision to cut interest rates this week and...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue...
Asian stock markets moved mixed on Monday, November 3, 2025. Japan led the gains: the Nikkei 225 remained near its record high of around 52.4...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....