Oil Retreats Five Percent as US-Iran Pause Raises Hope for Strait of Hormuz
Crude prices fell sharply after a weekend halt in hostilities, though shipping through critical Persian Gulf waterway remains far below normal levels
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Crude prices fell sharply after a weekend halt in hostilities, though shipping through critical Persian Gulf waterway remains far below normal levels

Tanker strikes and Hormuz blockades push Dubai and Oman spot premiums past $12 per barrel, forcing Asian refiners to scramble for Atlantic and Russian barrels.

ASEAN foreign ministers cite international maritime law as Middle East tensions threaten energy flows and regional trade corridors

ASEAN foreign ministers prepare draft language on navigation freedom while grappling with energy shortages from the US-Iran conflict

US-Iran strikes and Houthi naval blockades threaten global energy flows through two critical Middle Eastern waterways

Refinery output has dropped by 5 million barrels daily amid Hormuz Strait closures, pushing diesel and gasoline inventories to multi-year lows across Asia and beyond.

Currency hits one-month low as Iran shuts critical shipping route, pushing oil prices up 3% and widening India's trade deficit to $30.4 billion in June

U.S. president's announcement of new fee on cargo through critical Middle East waterway sends crude prices surging

West Texas Intermediate rises 2.6 percent after American forces target Iranian positions following assaults on commercial shipping in critical energy corridor

The local currency strengthened against the dollar and regional peers Monday, even as markets price in higher US rates and monitor West Asia supply risks.

Energy vessels increasingly navigate the southern channel of the critical shipping chokepoint, signaling fresh tension in the Gulf's busiest trade corridor.

The producer alliance pushes forward with supply increases despite ongoing disruptions from the Iran conflict, as Brent crude slides back to pre-war levels near $72 per barrel.