Crude futures recover more of last week's losses as continued fighting between Russia and Ukraine keep alive expectations of greater U.S. sanctions and supply disruptions.
An Israeli air strike targeting the Hamas leadership in Qatar also raises geopolitical risk in the Middle East, Jorge Leon, Rystad's head of geopolitical analysis, says in a note. "Recent diplomatic initiatives led by the U.S. and Qatar have been dealt a major setback," he says. Much could depend on the response of Qatar, a close U.S. ally and Gulf Cooperation Council member, he adds.
"Any fallout could amplify tensions across the Gulf and beyond, underscoring just how precarious the situation has become."
WTI settles up 0.6% at $62.63 a barrel, and Brent rises 0.6% to $66.39 a barrel.
Source: Marketwatch
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one ...
Oil prices rose on Wednesday (February 11th), supported by a combination of geopolitical risk premiums from US-Iran tensions and more solid Asian demand signals particularly from India which helped ea...
Oil remained in the green zone on Tuesday (February 10th), as the market refused to abandon the Middle East risk premium. As of 13:07 GMT (20:07 WIB), Brent rose +0.4% to $69.32/barrel, while WTI rose...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...