Oil, Iran and Economic warfare
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Latest stories about Crude Oil on Business Insider
Rising oil prices, fueled by ongoing conflict in the Middle East, have fanned concerns of a supply shock that could spur inflation and weigh on economic activity.
ExxonMobil’s earnings doubled and Chevron posted its highest quarterly earnings on record as energy prices soared during the prolonged closure of the Strait of Hormuz.
Oil forecasters are eyeing the risk of a global supply shortage that causes crude to spiral higher as the Iran war re-escalates.
The biggest supply squeeze in the energy market is in diesel, as global refinery activity fell in July to its lowest seasonal level since the 2020 pandemic, Goldman Sachs said Thursday in a new report. The weakness in refinery run rates was caused by war ...
Despite dire predictions of an energy catastrophe from the Hormuz Strait closure, the global market surprisingly averted a crisis, instead experiencing a "mini-glut." Initial forecasts warned of $200 oil and widespread shortages, but market mechanisms ...
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Oil markets are showing a dangerous level of complacency despite growing geopolitical risks in the Middle East, shrinking petroleum inventories, and significant disruptions to Russian fuel exports, according to economist Steve Hanke. Speaking with Mario ...
The biggest threat is no longer lost supply, but the need for governments, refiners, and traders to rebuild depleted strategic and commercial oil inventories. Emergency SPR releases and exchange agreements have stabilized markets in the short term but ...