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Global crude prices surged further after diplomatic talks to reopen the crucial Strait of Hormuz stalled. Brent crude futures moved higher while U.S. West Texas Intermediate extended a 10 percent rally racked up over the past week. Energy markets reacted sharply as hopes for a quick diplomatic deal between Washington and Tehran vanished. The stalemate…
Renewed Iranian attacks on energy infrastructure have pushed Brent crude back above $101, neutralising a record release of strategic reserves by the International Energy Agency (IEA). Despite the IEA dumping 400 million barrels into the market, the effective closure of the Strait of Hormuz has kept traders on edge. Roughly one-fifth of the world’s crude…
The assassination of Iran’s Supreme Leader has plunged global markets into a “prolonged period of flux,” the head of the IMF warned on Thursday. Kristalina Georgieva told the “Asia in 2050” conference in Bangkok that the escalating conflict between Iran, Israel, and the United States is a severe test of global economic resilience. Brent crude…
