Oil prices dropped Thursday after Energy Secretary Chris Wright reported Strait of Hormuz exports exceed independent estimates, conflicting with market assessments and ongoing Middle East tensions.
Oil prices fell over 1% after OPEC and the IEA lowered global demand forecasts due to the U.S.-Israeli war on Iran. However, ongoing supply disruptions in the Strait of Hormuz continue to sustain price floors.
Recent attacks on vessels in the Gulf of Oman and Red Sea push oil prices higher amid rising US-Iran tensions. Meanwhile, Japan's PPI growth misses expectations, South Korea's Kospi enters a bull market, and US lettuce prices suffer a record drop due to a cyclospora outbreak.
Oil prices rose and global stocks mixed on Wednesday as investors awaited crucial US inflation data and monitored stalled Iran war talks. Brent crude climbed to $89.67 a barrel, while Wall Street slipped and Asian markets traded mostly higher.
Indian stock markets extended losses on Wednesday as Tata Sons Chairman N Chandrasekaran resigned after a board dispute, while rising oil prices and a weaker rupee further pressured investor sentiment.
U.S. strategic oil reserves drop to 1983 lows as crude prices surge past $82 following stalled negotiations with Iran. Meanwhile, Nvidia unveils a $500 billion AI asset class initiative and Meta open sources new AI models.
Oil prices jumped about 5% Monday, with WTI settling at $82.13 and Brent at $87.72, as doubts grew over a U.S.-Iran deal to reopen the Strait of Hormuz. President Trump signaled reliance on a naval blockade rather than imminent talks.
US President Donald Trump stated Washington is utilizing economic pressure instead of new military strikes to push Iran toward a deal, citing high inflation and a naval blockade.
Oil prices climbed on Monday as Iran's demands for US sanctions relief and war reparations before reopening the Strait of Hormuz stoked market anxiety.
Iran outlined sweeping demands to the U.S. for reopening the Strait of Hormuz, including lifting sanctions and withdrawing military forces, as oil prices rose and regional shipping faced attacks.
Travelers face persistently high airfares globally, up 25-30% from 2025, driven by soaring jet fuel prices from the US-Iran conflict, refinery shortages, Boeing and Airbus delivery delays, FAA staffing issues, and resilient travel demand.
Oil prices saw minimal change as investors awaited a potential US-brokered agreement to ensure freedom of navigation through the Strait of Hormuz, with Brent crude at $82.13 and WTI at $77.25, down about 9% for the week.
The South Korean won reached a 10-month high of 1,414.5 won per USD on August 6, driven by falling global oil prices and anticipated US-Japan market interventions to support the Japanese yen.
The US stock market reached record highs on Tuesday, driven by strong corporate earnings reports from companies like Palantir and Caterpillar, alongside a significant drop in international oil prices.
Donald Trump warned Iran that it would be hit hard if the Strait of Hormuz does not open soon, as oil prices fell to a three-week low following reports of progress in diplomatic talks involving the US, Iran, Oman, and Qatar.
Bitcoin reaches new August highs as US-Iran tensions ease, potentially reopening the Strait of Hormuz, causing oil prices to drop and the S&P 500 to hit a new record high of $70 trillion market cap.
Oil prices dropped sharply after US Treasury Secretary Scott Bessent suggested a potential deal to open the Strait of Hormuz by this week, with Brent down 5.3% to $79.36/barrel and WTI losing 5.7% to $75.77.
Oil prices dropped to a three-week low on Tuesday, with Brent crude falling nearly 5% below $80 a barrel, after senior US officials reported progress in talks with Iran and Oman to reopen the Strait of Hormuz.
Stock futures rose Tuesday as U.S.-Iran deal hopes boosted oil prices and strong earnings from companies like Palantir and Caterpillar lifted sentiment. DuPont shares fell despite positive results due to a soft outlook.
BP reports $5.73bn quarterly profit, more than double last year's, driven by oil price hikes due to the Middle East conflict. Critics accuse BP of profiteering as energy costs soar globally.
Oil prices rose modestly on Tuesday, with Brent at $84.26 and WTI at $80.75, after a 7% drop; markets reacted to Trump’s pause on Iran strikes and ongoing Hormuz Strait tensions.
Stocks rally at the start of the week, pushing the S&P 500 near a record high, driven by falling oil prices after President Donald Trump called off a planned strike on Iran. Boeing shares surge on FAA certification, an analyst upgrade, and lower oil prices.
Global oil prices surged toward $100 per barrel as Middle East fighting disrupted the Strait of Hormuz and Red Sea, leaving global inventories critically low and threatening renewed inflation.
President Trump criticized Exxon and Chevron for excessive profits from rising oil prices after the Iran conflict, urging them to lower consumer prices. Crude prices rose 20% since Feb attack, gasoline up 40%.
