Oil prices rise as Iran conflict widens
The price of futures contracts of Brent crude oil for May 2026 delivery on London’s ICE was up by 3.5% early on Thursday, according to trade data.
oil prices
Oil prices extend gains as Hormuz tensions escalate
Oil prices maintained their upward trajectory on Wednesday as escalating tensions in the Middle East heightened supply concerns over disrupted shipments through the Strait of Hormuz and exports in the region.
Trump acknowledges spike in oil prices, promises drop
U.S. President Donald Trump acknowledged the economic toll that the U.S. and Israeli war on Iran is having on oil prices, but promised they will drop after the conflict ends.
Oil and precious metal prices rising
The price of Brent crude oil on the ICE exchange rose 12.2% at the start of the trading week amid Middle East escalation, trading data has shown.
Oil prices soar on fears of escalation of Iran conflict
Oil prices edged up on Thursday morning as investors worried about escalating tensions between the U.S. and Iran, and fears that any attacks on Tehran or shipping could lead to supply disruptions.
US may lift sanctions on Russian oil
The U.S. Department of the Treasury sanctions on Russian oil will be lifted if the Ukrainian crisis is resolved peacefully, which will contribute to a reduction in global energy prices, U.S. Treasury Secretary Scott Bessent said.
Novak notes high volatility on oil market amid Iran situation
The OPEC+ nations have noted the high oil market volatility amid the geopolitical tensions stemming from the development around Venezuela and Iran, Russian Deputy Prime Minister Alexander Novak said.
Russian oil price cap lowered
Europe has lowered the price ceiling for Russian oil from $60 to $44.1 per barrel. This marks the first use of the price adjustment mechanism since its introduction as part of sanctions.
EU to lower price cap on Russian oil to $44.1 per barrel
The EU will lower its price cap on Russian crude oil to $44.1 per barrel, with the new rate taking effect on February 1, 2026.
Price of Azeri Light crude oil rises over 4% on global market
The price of Azerbaijan's Azeri Light crude oil has increased by more than 4%, reaching $68 per barrel.
Azerbaijani oil rises above $65 per barrel in Italy
Azerbaijani Azeri Light crude rose today, following the rise in the Brent price
Premium gasoline prices increase in Iran
Iran's Oil Minister has confirmed a rise in premium gasoline prices following the launch of a pilot sales project.
Russia to increase oil production to 3.8 bln barrels per year
Russia's annual oil production will increase in the medium term to 540 million tons per year, or 3.8 billion barrels per year, or 10.35 million barrels per day, Russia's Deputy Prime Minister Alexander Novak said.
Russia ready to maintain stability in global oil market
The global oil market remains sensitive to demand-supply fluctuations and OPEC+ nations will take additional measures to maintain its stability, Russian Deputy Prime Minister Alexander Novak said.
Oil prices expected to fall globally
The market will face an oil supply surplus of approximately 2 mln barrels per day
OPEC+ countries to continue increasing oil production
OPEC+ countries have increased their production quotas by over 2.7 mln barrels per day since April of this year
Oil prices jump after U.S. sanctions Rosneft and Lukoil
Oil prices have jumped after the United States has sanctioned Russia’s two largest oil companies.
Oil prices slip to $60 per barrel
Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.
Azerbaijani oil price surges
The price of Azeri Light crude oil increased by $0.21, or 0.3%, reaching $68.34 per barrel.
Riyadh to raise oil prices for Asia, US in September
Arab Light will cost $3.2 more than the Oman/Dubai oil benchmark
