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The Latest Breaking News from Phil Flynn

Oil inches toward $90 on tanker attacks, lack of progress in Iran war peace deal

Crude oil futures experienced an upward trend on Friday due to disruptions from tanker attacks and the stagnation of peace talks. Brent crude closed at $88.52 a barrel while WTI crude settled at $82.40. Attacks within the Strait of Hormuz and disruptions at a Russian port led to a decline…

The Economic Times

Oil falls on report of China pushing for end of US-Iran war

Crude oil futures prices experienced a significant drop on Friday. Hopes for renewed peace talks between the United States and Iran emerged. Both Brent and West Texas Intermediate crude futures saw substantial weekly gains. Shipping disruptions in key waterways contributed to market volatility. Energy markets remain tight and sensitive to…

The Economic Times

Oil prices dive as more tankers move through Strait of Hormuz

Crude oil prices experienced a significant drop, heading for steep weekly losses as tanker traffic through the Strait of Hormuz increased, easing supply worries. This comes after a cargo vessel was struck near Oman, with reports suggesting Iranian involvement. Despite the incident, oil continues to flow, and analysts anticipate an…

The Economic Times

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Brent crude oil price touches pre-Iran war lows after ceasefire deal

Oil prices have fallen significantly. This is due to a preliminary agreement between the United States and Iran. The deal aims to reopen the Strait of Hormuz and lift sanctions. This is expected to boost global oil supply. Analysts anticipate a gradual recovery in oil flows. Some experts believe prices…

The Economic Times

Why are oil prices crashing down today, and will Brent and US WTI crude futures continue to decline or move upwards again? Oil market reacts to US-Iran peace deal hopes

Why are oil prices crashing down today, and will Brent and US WTI crude futures continue to decline or move upwards again? Oil prices dropped nearly 7% after reports suggested the United States and Iran were moving closer to a deal linked to the Strait of Hormuz. Brent crude and…

The Economic Times

Oil Market Volatility Eases After Initial Supply Shock From Iran Conflict

Oil prices eased after briefly surging above $100 as fears of major supply disruptions from the Iran conflict began to calm.

International Business Times

If Venezuela becomes a major oil producer again, 'that could cement lower prices' long term and put pressure on Russia, analyst says

“There’s been a big benefit for Russia to see Venezuela’s oil industry collapse. And the reason is because they were a competitor on the global stage for that oil market.”

Fortune

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Trump's plan to seize and revitalize Venezuela's oil industry faces major hurdles

President Donald Trump's plan to take control of Venezuela's oil industry and ask American companies to revitalize it after capturing that country's president in a military raid isn't likely to have a significant immediate impact on oil prices

The Independent UK

Will Joe Biden’s gamble on big oil pay off in leveling gas prices?

After begging the industry to increase supply, the White House used its reserve to strategically set fuel prices

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