Houston Chronicle Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies. Futures initially soared to an eight-month high above $65 a barrel in New York on Jan. 8 as Washington and Tehran faced-off after the killing of a
Reuters LONDON – Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran. Broadly, prices were moving back towards where they stood before the Jan. 3 U.S. drone strike that
Reuters DUBAI – Saudi Aramco shares fell to a new low on Wednesday after Iran launched missiles against U.S. targets in Iraq, but Gulf debt markets were fairly stable, as some had feared stronger retaliation from Iran. Saudi Aramco opened at 34 riyals ($9.06), its lowest since it began trading on Dec. 11, putting the market value of the company
CNBC President Donald Trump threatened Sunday to slap sanctions on Iraq after its parliament passed a resolution calling for the government to expel foreign troops from the country. Tensions in the Middle East spiraled last week after Trump called for a U.S. airstrike in Baghdad that killed a top Iranian general, Qasem Soleimani. Speaking to reporters on Air Force One, the U.S. president said: “If
CNBC A critical gateway to the world’s oil industry has been thrust back into the global spotlight, following a dramatic escalation in geopolitical tensions since the targeted killing of a top Iranian general. The death of Iranian military commander Qasem Soleimani at the end of last week has ratcheted up already-high tensions between Washington and Tehran, with many investors increasingly anxious that a widening conflict could
Houston Chronicle A flare-up in U.S.-Iran tension may be keeping oil elevated, but an actual disruption to global crude supplies is needed to keep prices at current levels, according to Goldman Sachs Group Inc. Price risks for Brent, which has surged about 6% since the U.S. strike killed a top Iranian general, are skewed to the downside in the coming
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