Keywords: Strait of Hormuz
Aluminum prices climbed to their highest level in nearly four years as the war in the Middle East disrupted shipments from the Persian Gulf, one of the world’s most important production hubs for the lightweight metal. Three month aluminum futures on the London Metal Exchange settled at $3,516.50......
Global oil prices climbed back above $100 per barrel on Thursday as Iran’s new supreme leader pledged to maintain the closure of the Strait of Hormuz, intensifying the largest energy supply disruption in modern history. The conflict involving the United States, Israel and Iran has entered its......
Brent crude has lost roughly a quarter of its value within days after surging to nearly $120 a barrel during the peak of the Strait of Hormuz crisis. A growing number of technical and market analyses now suggest the decline could extend much further, potentially pushing prices down toward $55 per barrel. The......
Asian equity markets declined on Friday as crude oil prices hovered close to $100 a barrel, intensifying concerns that the conflict involving Iran could disrupt global energy supplies for an extended period. The selloff followed losses on Wall Street, where the S&P 500 fell 1.5 percent on Thursday......
Iran’s military leadership warned that global oil prices could surge to $200 per barrel as Iranian forces intensified attacks on commercial shipping near the Strait of Hormuz, escalating a maritime crisis that threatens one of the world’s most critical energy routes. Ebrahim Zolfaqari, spokesperson......
BlackRock chief executive Larry Fink said a military conflict with Iran could ultimately reduce global energy prices over the long term, offering a view that contrasts with the current surge in oil markets. Speaking Wednesday at BlackRock’s US Infrastructure Summit in Washington, Fink argued that......
Global oil markets surged into sharp volatility after Iran warned it could halt all oil shipments passing through the Strait of Hormuz, a key maritime corridor that carries about 20 percent of the world’s crude supply. Crude prices briefly climbed above 100 dollars per barrel this week for the......
OPEC has maintained its global oil demand projections even as supply disruptions linked to the war involving Iran shake energy markets. The organization confirmed that Saudi Arabia led a significant increase in production in February, raising output by 250,000 barrels per day in what appears to have......
Twelve days after the outbreak of a widening conflict involving the United States, Israel and Iran, the Gulf region continues to face sustained waves of Iranian missile and drone attacks that have struck every member of the Gulf Cooperation Council, caused civilian casualties and killed U.S. personnel,......
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