Brent crude slipped towards $105.6 a barrel amid reports of a possible phased US-Iran agreement that could reopen the Strait of Hormuz and ease supply concerns.
Iran has sharply criticised the United States, accusing the White House of hypocrisy over Russian oil imports and claiming Washington is now “begging” countries, including India, to buy Russian crude. The remarks were made by Iranian Foreign Minister Seyed Abbas Araghchi, who alleged that the US had previously pressured nations to stop purchasing Russian oil.
New Delhi: The ongoing conflict in West Asia has triggered the largest supply disruption in the history of the global oil market, according to a report released on Thursday. According to the report by the International Energy Agency (IEA), with limited capacity to reroute shipments and storage facilities filling up, oil-producing countries in the Gulf.
Global oil prices surged sharply on Thursday, crossing the $100 per barrel mark again as escalating tensions in the Middle East rattled energy markets. The spike came after fresh strikes by Iran on supply routes and infrastructure in the region, raising fears of potential disruptions to global oil supplies. Brent Crude Crosses $100 Mark Brent.
Global crude oil prices have surged past the $100 per barrel mark for the first time in several years as escalating tensions involving Iran have shaken international energy markets. The sharp rise reflects growing fears that the ongoing conflict in the Middle East could severely disrupt global oil supplies and shipping routes. Analysts say the.
