Oil prices actually slipped lower today despite the attack on Israel over the weekend as the event proved less damaging than originally anticipated. Both benchmarks had risen Friday with anticipation of Iran’s assault pushing prices to their highest level since October. “The success of the Israeli defense implies that the geopolitical risk has pulled back […]
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Oil prices were higher today but still posted a week over week loss as tensions in the Middle East have helped support prices. “The market’s main focus is on whether Iran will retaliate against Israel,” said Andrew Lipow, president of Lipow Oil Associates, with the fear of supply disruption associated with the events in the […]
Oil prices were lower today as inflation remained persistently higher causing worries about Fed rate cuts. Minutes from the U.S. Federal Reserve showed officials worried that progress on inflation might have stalled and a longer period of tight monetary policy would be needed. Investors who had expected a rate cut in June now see September […]
Oil prices were higher today trading up as Middle East tensions continue to flare up. The market saw some potential in negotiations over the last several days but is now concerned again that other countries could be drawn into the conflict. In the western hemisphere Mexico decided to curb crude exports in order to supply […]
Oil prices were lower today for a second day as ceasefire talks in the middle east continue. On Monday, Brent posted its first decline in five sessions and WTI its first in seven as a fresh round of Israel-Hamas ceasefire discussions in Cairo raised hopes of a breakthrough. “Without an end to the conflict, there […]
Oil prices were lower today ending a multi session rally as tensions may be cooling in the Middle East. Israel is reducing its troop count in the Gaza strip and the US is leaning into ceasefire talks. However Tehran is still threatening revenge against Israel and the US so the conflict could still broaden. Among […]
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Oil prices rose again today closing out a strong week as markets are on edge about direct conflict between Israel and Iran. Both contracts are up more than 4% on the week. Meanwhile OPEC+ producers are pressing some countries to increase compliance with output cuts. “Further clampdowns on adherence to quotas should see output fall […]
Brent settled above $90 today for the first time since October as geopolitical tensions continue to remain front and center. Oil rose on Thursday following news reports that Israeli embassies across the world have been placed on high alert due to increasing threats of an Iranian attack on Israeli diplomats. Iran, the third-largest producer in […]