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08024545197The disruption to crude oil shipping through the Strait of Hormuz could extend into 2027, after Japan’s Mitsui O.S.K. Lines warned that it no longer expects normal operations through the strategic waterway to resume before the end of 2026.
Brent crude oil moved closer to the critical $100 per barrel mark on Thursday, raising fresh concerns about a potential increase in petrol and diesel prices as a deepening global refining crisis tightens the supply of finished petroleum products
Global crude oil prices fell on Thursday as the market digested OPEC+’s decision to complete its planned 1.65 million barrels per day production cut rollback and maintain its output policy after September.
OPEC+ is expected to leave its October oil production policy unchanged as disruptions to crude exports through the Strait of Hormuz continue to limit supply reaching the international market.
Two Filipino sailors have been killed after a Saudi oil tanker came under attack in the Strait of Hormuz, sharply escalating tensions around the strategic waterway as Iran and the United States exchange fresh strikes across the Gulf region
The Dangote Petroleum Refinery may be heading for another petrol gantry price review as international crude prices surge, barely days after the refinery’s third price increase in eight days. The latest rally has intensified concerns across Nigeria’s downstream market, with crude prices gaining about 5 per cent within 24 hours, while some depot owners in Lagos have stopped sales yesterday in anticipation of a possible upward adjustment.
Crude oil prices surged by about 5% on Tuesday as renewed military strikes between the United States and Iran intensified fears of a deeper disruption to crude supplies through the Strait of Hormuz, a critical route for global oil trade.
Oil markets are facing renewed disruption risks after direct attacks between the United States and Iran resumed, heightening concerns that the conflict could persist into 2027 and pushing Middle Eastern crude benchmarks above $100 per barrel
Crude oil prices continued to rise on Tuesday as US President Donald Trump threatened further military action against Iran, adding fresh uncertainty to crude supplies through the Strait of Hormuz
Brent crude rose above $90 per barrel on Monday as renewed tensions around the Strait of Hormuz intensified following Iran’s claim that a supertanker caught fire after striking two naval mines while attempting to cross the strategic waterway
Global crude oil prices rose nearly three per cent in early trading on Monday after fresh military strikes between the United States and Iran renewed fears of further disruption to oil supplies and shipping through the Strait of Hormuz.
The six-month conflict involving the United States, Israel and Iran has added an estimated $330 billion to the global cost of importing crude oil, refined petroleum products and liquefied natural gas, with import-dependent economies bearing the largest financial impact
Global crude oil prices slipped on Friday as the market balanced increased oil flows through the Strait of Hormuz against soaring tanker costs caused by the Iran war and disruption to regional shipping routes.
US President Donald Trump has indicated that Washington is under no immediate pressure to reopen negotiations with Iran, even as the conflict enters its sixth month and diplomatic efforts intensify across the region
Oil tanker movements through the Strait of Hormuz fell sharply on Thursday despite signs that crude flows through the strategic waterway have recovered to a substantial share of pre-war levels
Brent crude rose above the $90 a barrel mark on Friday as concerns over the prolonged Middle East conflict continued to support prices, even as a recovery in regional oil exports provided a potential ceiling to further gains
Qatar has stepped up diplomatic efforts to revive stalled talks between Iran and the United States, with the Gulf state’s Prime Minister, Sheikh Mohammed bin Abdulrahman Al Thani, travelling to Tehran as Washington maintains that it is not currently negotiating with Iran.
Crude oil prices are heading for a sharp weekly decline despite persistent tensions between Iran and the United States and continued disruption to tanker traffic through the Strait of Hormuz.
Another tanker has been struck by a projectile in the Strait of Hormuz, adding to growing concerns over the safety of commercial shipping through the strategic waterway as diplomatic efforts to restore traffic continue
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