16 Oct 2024
Oil prices slumped over 4% on Tuesday, 15 October 2024, reaching their lowest in nearly two weeks, as a report suggested that Israel would not target Iranian nuclear and oil facilities. This development calmed fears of potential disruptions to global supply, a key factor driving recent market volatility.
16 Oct 2024
Importers, mindful of extended lead times and complications such as the Red Sea diversion, placed orders much earlier this year to meet year-end demand. This strategic shift has contributed to the current lull in activity. Industry experts suggest that the downtrend in booking rates is likely to continue, but a sharp decline seems unlikely
16 Oct 2024
15 Oct 2024
15 Oct 2024
14 Oct 2024
The US Treasury Department has expanded its economic sanctions on Iran, specifically targeting the country’s petroleum and petrochemical sectors, in response to the recent attack on Israel. The new measures aim to limit Iran’s ability to finance destabilizing activities in the region.
14 Oct 2024
International oil benchmarks continued their downward trend on Friday, October 11, 2024, as investors grappled with a complex set of factors influencing the market, including the impact of Hurricane Milton on fuel demand in Florida, the potential for economic stimulus in China, and escalating geopolitical tensions between Israel and Iran.
