Oil | DD News

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...

June 18, 2025 3:39 PM

The Strait of Hormuz: The Oil Artery at the Heart of the Iran-Israel Conflict

One of the world’s most critical oil chokepoints, the Strait of Hormuz is central to discussions and analyses focused on the ongoing Iran-Israel conflict. Located between Oman and Iran, the strait connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. It is deep and wide enough to accommodate the world’s largest crude oil tankers, making it a vital artery at risk of disruption as tensions between Iran and Israel escalate. Although Iran has threatened to close the strait in the ...

June 13, 2025 1:33 PM

Oil soars more than 6% after Israel’s strike on Iran alarms market

Oil prices jumped more than $4 a barrel on Friday, hitting their highest price in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Brent crude futures LCOc1 jumped $4.60, or 6.63%, to $73.96 a barrel by 0612 GMT after hitting an intraday high of $78.50, the highest since January 27. U.S. West Texas Intermediate crude CLc1 was up $4.99, or 7.33%, at $73.03 a barrel after hitting a high of $77.62, th...

April 15, 2025 8:53 AM

Asia shares rise, bonds hold steady on some tariff reprieve

Asia shares edged slightly higher on Tuesday, helped by gains in auto companies after U.S. President Donald Trump suggested he might grant exemptions on auto-related levies already in place. U.S. Treasury bonds steadied having staged a recovery overnight following last week's historic selloff, while the dollar continued to fall out of favour with investors. Trump said on Monday he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Cana...

September 6, 2024 12:59 PM

Markets on tenterhooks ahead of key US jobs data

Asian shares struggled for direction while the yen jumped on Friday, as investors remained on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy. Oil prices are staring down their worst week in more than a year to hover just above a critical chart level, with their near-term fate depending on the payrolls report due later in the day. Europe is set for a lower open, with both EUROSTOXX 50 futures and FTSE futures off 0.2...

May 20, 2024 12:44 PM

Global stocks, metals surge as rate cut expectations firm

Asian shares hit two-year highs while copper and gold struck records on Monday as investors wagered on interest rate cuts around the corner and China stepping up efforts to steady its ailing property sector. Brent crude futures rose to a one-week high of $84.25 a barrel after a helicopter crash killed Iran's president and Saudi Arabian state news flagged a health issue for the king, threatening fresh instability in the Middle East. Gold climbed more than 1% to $2,449.89 and copper futures ...

May 10, 2024 2:01 PM

Asia stocks rally on renewed global rate cut optimism

Asian stocks rose on Friday, on course for a third week of gains, while the dollar was steady as fresh signs of an easing U.S. labour market stoked optimism around interest rate cuts this year ahead of next week's crucial inflation data. Sterling was steady at $1.2515, having touched a more than two-week low of $1.2446 on Thursday after Bank of England (BoE) paved the way for the start of rate cuts as soon as next month. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.66% a...