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See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Oil Caught in Crossfire: Markets React to Fragile Iran-Israel Ceasefire
Taarek Refaat Amid escalating tensions and fragile diplomatic efforts, global oil markets have once again found themselves at the center of geopolitical turbulence. On Wednesday, oil prices climbed modestly, rebounding from sharp losses earlier this week, as investors assess the stability of a fragile ceasefire between Iran and Israel. This is not just a price shift—it's a reflection of how tightly energy markets are interwoven with Middle East tensions, strategic waterways, and nuclear brinkmanship. Market Reaction: Oil Prices Edge Up Brent crude futures rose by 1.3%, reaching $68.01 per barrel U.S. West Texas Intermediate (WTI) climbed 1.37% to $65.25 per barrel Latest Oil Prices: WTI Crude • 65.11 +0.74 +1.15% Brent Crude • 67.86 +0.72 +1.07% Murban Crude • 68.30 +0.46 +0.68% Louisiana Light • 71.86 +0.00 +0.00% Bonny Light • 78.62 -2.30 -2.84% Opec Basket • 68.71 -7.48 -9.82% Mars US • 71.88 -1.03 -1.41% Gasoline • 2.086 +0.001 +0.03% Natural Gas • 3.389 -0.148 -4.18% Both benchmarks had plunged to multi-week lows earlier this week—Brent to levels unseen since June 10, and WTI to June 5 prices—erasing much of the premium built after Israel's surprise airstrike on Iranian nuclear and military facilities on June 13. Now, with a ceasefire in place, however tentative, oil traders are recalibrating their risk assessments. A Ceasefire Brokered by U.S. President Donald Trump, the current ceasefire has paused direct aerial warfare between Iran and Israel. But 'paused' is the operative word. Intelligence assessments from U.S. agencies suggest that the strikes did not destroy Iran's nuclear capabilities, but rather delayed them by a few months. The underlying conflict—one rooted in existential distrust, regional rivalry, and nuclear fears—remains unresolved. One senior analyst noted, 'This isn't peace; it's just a moment to reload.' Strait of Hormuz: The Pressure Point Markets are particularly sensitive to any threat around the Strait of Hormuz, the world's most critical oil chokepoint. Between 18 and 19 million barrels of oil pass through the narrow corridor between Iran and Oman daily—about 20% of global consumption. Even rumors of disruption in this vital passage can send oil prices soaring. With the U.S. now militarily involved, investors are pricing in geopolitical risk that goes far beyond mere headlines. What's Next for Oil? Much hinges on two critical factors: Will the ceasefire hold? If even one retaliatory strike occurs, prices could spike dramatically. What do inventories say? Later today, the U.S. government will release official data on domestic oil and fuel stockpiles. Preliminary figures from the American Petroleum Institute show a drawdown of 4.23 million barrels last week—potentially tightening supply further. These dual forces—geopolitical uncertainty and shifting inventory data—create the perfect storm for volatility. A Market on the Edge This moment in the oil market isn't just about barrels and charts. It's about how energy continues to be both a weapon and a lifeline, a reflection of the world's volatility, and a driver of its stability. For investors, analysts, and policymakers, the message is clear: as long as conflict brews in the Middle East, oil will remain a battlefield of its own. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
12-03-2025
- Business
- See - Sada Elbalad
Oil Prices Rise 2%.. Brent Crude Reaches $70.89
Taarek Refaat Oil prices rose 2% on Wednesday, as U.S. government data showed a larger-than-expected drawdown in crude and fuel inventories, although investors continued to monitor growing concerns about a slowing U.S. economy and the impact of tariffs on global economic growth. Brent crude futures rose 1.9%, to $70.89 a barrel, while U.S. West Texas Intermediate (WTI) futures rose or 2.2% to $67.70 a barrel. Latest Oil Prices WTI Crude $67.69 +2.17% Brent Crude $71.00 +2.07% Murban Crude $71.78 +1.86% Louisiana Light $70.27 +0.16% Bonny Light $78.62 -2.84% Opec Basket $72.14 -0.82% Mars US $73.22 -1.56% Gasoline $2.151 +2.19% Natural Gas $4.044 -9.18% U.S. government data on Wednesday showed that U.S. crude inventories rose by 1.4 million barrels last week, 2 million barrels less than expected. U.S. gasoline inventories fell by 5.7 million barrels, compared to expectations for a 1.9 million-barrel draw, while distillate stocks also fell by more than expected. 'This week, oil prices were lower than expected, and gasoline and diesel drawdowns were larger than expected,' said Josh Young, chief investment officer at Bison Interests. 'This indicates strong demand, and could lead to higher oil prices as a result.' In recent days, crude oil futures have been supported by a weaker US dollar and the US Energy Information Administration's reversal of its previous forecast of a large oil supply surplus this year, according to Giovanni Staunovo, an analyst at UBS. The dollar struggled to recover from a five-month low against other major currencies on Wednesday as traders digested the trade tariffs between the US and the European Union and the prospect of a ceasefire between Russia and Ukraine. The dollar index, which fell 0.5% to a 2025 low on Tuesday, helped boost oil prices by making crude less expensive for buyers holding other currencies. However, signs of slowing inflation gave investors some comfort after US consumer prices rose less than expected in February.
