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Crude oil surges above $119 amid Iran conflict, Gulf energy attacks raise supply fears
Crude prices surged past $119 a barrel as attacks on Gulf energy assets, including Qatar's LNG plants and Saudi Arabia's Yanbu refinery, intensified fears of prolonged market disruptions. Indian policymakers are preparing for a sustained supply crunch and higher energy prices, with refiners worried about absorbing rising costs amid government reluctance to approve retail fuel price hikes.
Oil Ends Choppy Day With Gains as Futures Ease From Day’s Highs
The benchmark price of oil ultimately ended the day higher as escalating attacks in the Persian Gulf caused long-term damage to major energy facilities. Natural gas jumped.
Europe, Japan ready to help stabilise energy prices and secure Strait of Hormuz
European nations and Japan pledged to stabilize energy markets and support efforts to secure the Gulf's oil chokepoint following escalating strikes on energy infrastructure. President Trump stated no additional US troops are planned for the Middle East, despite tensions with Japan over prior notification of strikes.
Strait of Hormuz tensions escalate as Iran targets regional energy infrastructure
In a dramatic turn of events, Iran has intensified its offensive against oil and gas installations across the Gulf, a direct response following an Israeli airstrike near the vital Strait of Hormuz. This escalating conflict places nearby shipping interests in jeopardy, with reported damage to vessels off both the UAE and Qatar.
Hormuz chokehold leaves over 1.7 million tonnes of India’s oil, LNG and LPG cargo stranded
In the heart of the Persian Gulf, twenty-two Indian vessels laden with essential oil and gas remain stranded. With millions of tonnes of crude oil, LPG, and LNG in limbo, these ships are eagerly awaiting clearance to navigate the obstructed Strait of Hormuz. The current turmoil has significantly impacted India's energy supplies.
Oil and gas prices rapidly rise as Iran war shows no signs of letting up
Oil prices have surged after the US–Israel attacks on Iran escalated into a wider Middle East war, disrupting energy supplies and shipping in the region. Tankers carrying about 20 million barrels of oil a day are stranded in the Persian Gulf due to safety risks around the Strait of Hormuz, while damage to oil and gas facilities has further tightened supply.
Hormuz shutdown worsens after US hits Iranian warship; tankers stranded for fifth day
The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to provide insurance and navy escorts to ships exporting oil and gas from the Middle East in a bid to contain soaring energy prices. At least 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at anchor in open waters off the coast of major Gulf producers including Iraq, Saudi Arabia and Qatar, according to Reuters estimates based on ship-tracking data from the MarineTraffic platform.
Asia most vulnerable to oil price rise, prolonged West Asia conflict to influence region's macro outlook: Invesco report
Iran war: Asia faces significant risks from rising oil prices. Its heavy reliance on imported energy makes it vulnerable. Prolonged geopolitical shocks disrupting Gulf exports could impact the region's economy. Sustained higher oil prices would negatively affect stocks. Countries like Thailand, India, Korea, and the Philippines are most at risk. Malaysia, an energy exporter, could benefit.
Solar, wind stocks surge up to 12% as crude oil price spike and Gulf tensions boost renewable energy bets
Renewable energy stocks bucked the trend of the broader market fall, as investors rotated into companies linked to solar and wind power. Rising crude oil prices and geopolitical tensions in the Middle East strengthened investor interest in alternative energy plays.