Crude oil prices rose Monday after Iran and the U.S. ruled out an extension of the memorandum of understanding that they signed in June to end the conflict. A senior Iranian official told Reuters, meawhile, that Tehran would shift to offense rather than relying on defense if diplomacy with the U.S. fails. U.S. crude oil…
Major stock markets traded mixed in sparse summer trading Friday, with oil prices edging higher and the dollar slipping as investors assess the outlooks for U.S. interest rates and the war in the Middle East. Data this week showing cooler inflation in the U.S. has bolstered expectations that the Federal Reserve will not rush to…
World oil demand is set to fall further than previously expected this year, the International Energy Agency said Wednesday, as the impact of the closure of the Strait of Hormuz deepens. The IEA forecast demand will drop by 1.6 million barrels a day in 2026. That’s 510,000 barrels a day more than its last monthly…
Gas prices are displayed at a Valero gas station on July 21, 2026 in Austin, Texas. Brandon Bell | Getty Images Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open. U.S. President Donald Trump has said that Washington was only “semi-negotiating” with Iran, as economic pressure…
Traders work at the New York Stock Exchange NYSE Treasury yields rose on Thursday, with traders reacting to rising oil prices as Iran-Oman talks over the status of the Strait of Hormuz continued. The 10-year Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — was up more than…
Britain’s BP on Tuesday reported a sharp upswing in second-quarter profit, as energy supermajors reap massive profits from higher fossil fuel prices amid hostilities between the U.S. and Iran. The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $5.7 billion for the April to June period. That comfortably…
Oil prices top of mind at the Calgary Stampede rodeo – CBS News Watch CBS News The Calgary Stampede is the largest outdoor rodeo in the world. And with Alberta holding the fourth-largest proven oil reserve in the world, high oil prices are playing a part in the show. Ian Lee reports.
Oil tankers are increasingly coming under fire on several fronts as economic warfare is deployed as a weapon in the escalating conflicts in the Middle East and Europe. Iran has stepped up its attacks on tankers in and around the Strait of Hormuz this month as it tries to impose its control over the crucial…
Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran’s chokehold on the strait drags on and oil prices surge — to over $100 per barrel for Brent Crude…
Oil prices rose Wednesday after U.S. Secretary of State Marco Rubio said Iran was not serious about reaching a deal to end the fighting, and vowed the U.S. military would continue to protect shipping through the Strait of Hormuz. Brent crude futures, the international benchmark, traded about 2.5% higher at $93.32. U.S. West Texas Intermediate…
