Oil | DD News

March 14, 2026 2:49 PM

Trump threatens to hit Iran’s Kharg Island oil network if shipping lanes remain blocked

U.S. President Donald Trump threatened to strike the oil infrastructure of Iran's Kharg Island hub unless Tehran stopped attacking vessels in the Strait of Hormuz, a warning that could further roil markets coping with a historic supply disruption. Trump paired his Friday ultimatum with a social media post saying the U.S. had "totally obliterated" military targets on the island, the export terminal for 90% of Iran's oil shipments, which lies about 300 miles (500 km) northwest of the strait. U.S...

March 10, 2026 10:38 AM

Oil falls as Trump predicts Middle East de-escalation

Oil prices fell on Tuesday after hitting an over three-year high in the prior session as U.S. President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies. Brent futures LCOc1 fell $4.17, or 4.2%, to $94.79 a barrel at 0345 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was down $3.81, or 4%, to $90.96 a barrel. Both the contracts fell as much as 11% earlier before paring some losses. Oil surged past $1...

March 3, 2026 4:12 PM

Oil rises as expanding US-Israel war with Iran heightens supply risks

Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region. Brent crude futures LCOc1 were at $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher. U.S. West Texas Intermediate crude CLc1 ...

March 2, 2026 6:38 PM

Iran conflict disrupts global shipping as tankers are stranded, damaged

Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz. Shipping through the strait between Iran and Oman, which carries around one fifth of oil consumed globally as well as large quantities of gas, has ground to a near halt after vessels in the area were hit as Iran retaliated to U.S. and Israeli strikes. The disrup...

October 9, 2025 10:34 AM

Asia stocks sweep to new highs, oil slips on Gaza ceasefire deal

Asian stock markets scored fresh highs on Thursday as investors doubled down on all things AI-related, while gold held atop $4,000 and the dollar retained its recent hefty gains. Oil prices dipped as geopolitical tensions eased a little on news that Israel and Hamas had agreed to the first phase of a ceasefire plan to end the two-year conflict. U.S. President Donald Trump said he might travel to Egypt this weekend to discuss further steps in the deal. In equity markets, a resumption of the bu...

August 1, 2025 10:24 PM

India buys oil based on global market offerings: MEA

India sources its oil purchases based on global market offerings to meet its energy needs, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said on Friday. Commenting on media reports that some Indian oil companies have stopped taking oil from Russia, Jaiswal said: "You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics." He also indicated that Ind...

June 24, 2025 9:42 AM

Iran Launches Missile Strike on US Base in Qatar as the West Asian Conflict Spreads

Iran launched ballistic missile attacks on Monday against the Al Udeid Air Base in Qatar, which hosts US and allied forces, in what Tehran described as retaliation for recent American bombing of its nuclear facilities. The primary target was Al Udeid, the largest US military installation in West Asia, located southwest of Doha, there are also reports indicating that Iran has targeted the Ain al-Assad base in Iraq. Qatari and US officials reported no casualties from the attacks, as Qatar stated t...

June 24, 2025 9:32 AM

Oil Prices Plunge 6% as Iran’s Targeted Retaliation Avoids Energy Infrastructure

Oil prices tumbled over 6%, falling $5 a barrel on after Iran launched a missile attack on the Al Udeid US airbase in Qatar in retaliation for weekend US strikes on Iranian nuclear facilities, while notably avoiding any disruption to oil and gas tanker traffic through the Strait of Hormuz. The oil market initially surged on weekend tensions but began selling off sharply after Iran's measured response targeted the largest US military installation in West Asia rather than energy infrastructure. G...

June 23, 2025 11:15 AM

Airlines weigh Middle East cancellations after US strikes in Iran

Commercial airlines around the world on Monday were weighing how long to suspend Middle East flights as a conflict which has already cut off major flight routes entered a new phase after the U.S. attacked key Iranian nuclear sites and Tehran vowed to defend itself. The usually busy airspace stretching from Iran and Iraq to the Mediterranean has been largely empty of commercial air traffic for 10 days since Israel began strikes on Iran on June 13, as airlines divert, cancel and delay flights thr...

June 23, 2025 11:03 AM

Oil surges to five-month high after US hits Iran’s key nuclear sites

Oil prices jumped on Monday to their highest since January as the United States' weekend move to join Israel in attacking Iran's nuclear facilities stoked supply concerns. Brent crude futures were up $1.52 or 1.97% to $78.53 a barrel as of 0503 GMT. U.S. West Texas Intermediate crude advanced $1.51 or 2.04% to $75.35. Both contracts jumped by more than 3% earlier in the session to $81.40 and $78.40, respectively, touching five-month highs before giving up some gains. The rise in prices came a...