Oil futures surged in the first trades since the United States and Israel launched strikes against Iran over the weekend.

Iran produces 3% of global oil but controls the Strait of Hormuz, carrying one-fifth of global crude — giving it significant leverage over energy markets. Tankers are avoiding the strait and shipping companies suspending deliveries as three LNG carriers from Qatar pause voyages, signaling market jitters over potential disruption.

Brent crude oil futures on the Intercontinental Exchange (ICE) ($71.80/barrel) was up 5.9 per cent whereas crude oil futures in the domestic market (₹6,057/barrel) gained 5.7 per cent. Brent crude oil futures,

1548 ET – Crude futures rise for a third straight session with tensions in Iran keeping a bid in the market. “We’ve priced in a lot of geopolitical risk premium the last couple of sessions,” says John Kilduff of Again Capital. The market is keeping ...

Oil prices hold at $67-$62 before U.S.-Iran talks. OPEC+ weighs April output increase at March 1 meeting. Risk premium remains elevated.

The most traded U.S.-listed oil exchange-traded funds opened higher on Tuesday, closely tracking a small rise in oil futures, as investors weigh Venezuela’s short-term supply and hedge exposure to the crude futures through the ETFs. United States Oil ...

Action to deter the smuggling of illicit oil is accelerating, but even hulking tankers have many ways to hide. U.S. natural gas futures snapped a three-session losing streak with a cold shot across the eastern U.S. expected to raise demand at the weekend ...

The world oil market will face a significant surplus in Q1, and excess supply has offset geopolitical risks of disruption so far, the International Energy Agency said Wednesday in its monthly oil market report. The Paris-based IEA projected global oil ...