Brent crude oil futures for October 2026 delivery rose above $94 per barrel on London's ICE, marking the highest price since July 24, 2026, alongside gains for WTI crude.
Oil prices climbed past $90 a barrel on Tuesday as a two-month peace negotiation window in the US-Israel war on Iran expired without a deal. Donald Trump threatened Oman and Iran signaled a fully offensive military stance.
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.
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.
Crude oil prices fell sharply and global stocks rallied after Donald Trump announced he cancelled strikes on Iran and claimed peace talks would resume, a claim Tehran denied. This occurred despite rising fuel prices for UK motorists.
Oil prices, including WTI and Brent crude, fell over 6% following US President Trump's announcement of potential talks with Iran to resolve nuclear issues and reopen the Strait of Hormuz. Despite hopes for a diplomatic breakthrough, market uncertainty persists due to ongoing security risks in shipping routes and skepticism about the negotiations' success.
Brent crude futures with September delivery on the ICE exchange in London dropped below $82 a barrel, marking the first time since July 13, according to trading data. The price initially fell 6.74% before paring some losses.
Attacks on tankers and other vessels in the Strait of Hormuz, the Red Sea and the Black Sea are disrupting shipping and tightening oil markets. Brent crude has topped $100 as traders weigh the risk of further escalation.
Bitcoin dropped below $65,000 as rising oil prices, fueled by Red Sea tanker attacks and US threats against Iran, pushed Treasury yields higher and triggered a broader retreat from risk assets, impacting spot demand and ETF flows.
Houthi threats to Saudi oil shipments via Bab al-Mandab have pushed Brent crude above $100 a barrel and raised fears of a further spike. The disruption is also tightening global diesel, petrol and gas markets.
US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies after Houthi fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East conflict. The attacks, coupled with US airstrikes on Iran, sent global oil prices surging and raised fears of a wider economic downturn.
Oil prices surged to $100 a barrel for the first time since May due to escalating Middle East conflict, including US strikes against Iran and Houthi attacks in the Red Sea. This reignites global inflation fears, potentially leading to higher consumer prices and pressure on central banks to maintain high interest rates.
Market forecasts indicate a doubled likelihood of a Reserve Bank interest rate hike as escalating Middle East tensions drive fuel prices higher. Brent crude surged 23% to near $US90/barrel, impacting Australian motorists and raising stagflation concerns for the economy.
The escalating Middle East crisis has driven Brent crude prices up 23% to near $US90/barrel, doubling market forecasts for an Australian Reserve Bank interest rate hike. Australian motorists face rising fuel costs as experts warn of a critical juncture for global energy markets.
Brent crude futures surged to $91.42 before easing to $88.28 on a US-Iran ceasefire proposal, while Bitcoin held above $65,000. The article analyzes how Bitcoin's behavior reflects expectations for diplomacy to temper oil-driven inflation, influencing Federal Reserve policy and Treasury yields, outlining various market scenarios.
Goldman Sachs warns Brent crude could surpass $120 a barrel if Strait of Hormuz disruptions continue, though it's not their central forecast. For India, which imports most of its oil, a sustained rally would worsen inflation, weaken the rupee, and increase import costs.
Goldman Sachs warns Brent crude could surpass $120/barrel if Strait of Hormuz disruptions persist, though it's not their central forecast. For India, heavily reliant on oil imports, a sustained rally would increase import bills, weaken the rupee, fuel inflation, and widen the current account deficit.
Brent crude surpassed $90 a barrel, its highest in over a month, due to intensifying US-Iran hostilities disrupting oil shipments through the Strait of Hormuz. US forces and Iran exchanged strikes, impacting shipping and raising concerns about global oil supply and inventories.
Ryanair's pre-tax profits fell 34% to €593m between April and June, attributed to soaring jet fuel prices due to the Middle East war and consumer hesitancy leading to lower fares. The airline expects summer fares to be modestly lower than last year.
Bitcoin traded near $62,900 as the Strait of Hormuz remained closed to commercial traffic due to US-Iran conflict, making it the first liquid global asset to absorb weekend geopolitical risks before traditional markets reopen, potentially acting as an early warning system for oil prices and inflation.
Oil prices soared and Asian stocks plummeted after the US launched new strikes against Iran, escalating tensions over the Strait of Hormuz. Brent crude rose 4.7%, while markets like South Korea's Kospi dropped 8%. Chip companies were severely hit.
The Indian Rupee depreciated 39 paise against the US dollar, opening at 95.72 and falling to 95.77 due to soaring crude oil prices and escalating Middle East tensions. Concerns over global crude supply disruptions, fueled by Iran's actions in the Strait of Hormuz, dampened market sentiment.
Asian markets fell Monday amid escalating Gulf tensions and Iran's claim to have closed the Strait of Hormuz, sending oil prices up and reigniting global inflation fears. Brent crude rose 3.3% to $78.50.
Shipping traffic in the Strait of Hormuz has significantly decreased due to renewed fighting between the US and Iran. Large vessels have stopped broadcasting their locations, impacting energy markets already strained by supply disruptions.
