Oil market | Euronews

English

Iran

Iran reviewing US peace deal proposal as Trump ramps up pressure

A fragile ceasefire between the US and Iran has largely held since 8 April but in-person talks between the two countries hosted by Pakistan last month failed to reach an agreement.

Business

The UAE's OPEC exit puts Gulf oil unity to the test

The UAE's exit from OPEC signals a strategic shift, raising questions about Gulf coordination and the organisation's future.

Markets

Oil hits $126 wartime high as US–Iran standoff fuels supply fears

Oil markets face upward pressure on Thursday, with Brent crude briefly touching $126 as markets price in tensions in the negotiations between the US and Iran.

Markets

Global markets on edge as investors await US-Iran negotiations

European markets are trading mostly flat with Asian indices jumping higher and oil prices rising slightly as suspense builds around potential US-Iran negotiations and the end of the ceasefire in less than 48 hours.

ADVERTISEMENT

Economy

Oil prices drop over 10% after Iran declares Strait of Hormuz 'open'

Oil prices have dropped over 10% in less than two hours after the Minister for Foreign Affairs of Iran declared the Strait of Hormuz "completely open" for the remainder of the current ceasefire with the US.

Economy

Iran war energy shock drives nuclear power plans in Asia and Africa

The Iran war has exposed the fragility of global fossil fuel supply chains. Now dozens of countries across Asia and Africa are turning to nuclear power as their answer.

Markets

S&P 500 and Nasdaq hit new all-time highs despite Iran war effects

The S&P 500 and the Nasdaq closed at record highs on Wednesday despite the Iran war dragging on, the Strait of Hormuz remaining largely blocked and global economic growth forecasts being cut amid rising inflation.

Economy

IEA warns of historic oil supply shock as Iran war disruption persists

The International Energy Agency (IEA) has warned of an unprecedented energy shock, with global oil production plunging by over 10 million barrels per day in March, as diplomatic efforts between Washington and Tehran fail.

Climate

France is turning its back on fossil fuels – with a €240m plan

French Prime Minister Sébastian Lecornu says electrification is now a concern of ‘national interest’ and no longer just about climate change.

Markets

Oil pushes past $97 again as markets eye ceasefire doubts

Oil clawed back above $97 a barrel Thursday as investors bet the US-Iran ceasefire will not last, and the near-shut Strait of Hormuz is doing little to convince them otherwise.

Europe News

How long can the EU’s oil reserves last?

The 400 million barrels of oil released by the International Energy Agency — of which 92 million barrels were contributed by 20 EU countries — could last about five months, according to analysts. The bloc also relies on storage reserves.

Markets

Gold and silver plummet then soar on Trump's Iran statement

Middle East conflict was supposed to boost precious metals. Instead, oil and rate fears have sent silver crashing 40%, and gold is feeling it too.

Economy

Brent crude oil crosses $119 after Iran hit largest Qatari energy site

Brent crude oil traded briefly above $119 a barrel after Iran struck Qatar’s largest energy site, the Ras Laffan gas field. The attack was in response to Israeli strikes against the Iranian South Pars gas field.

Economy

Oil surges to $110 after Israel hits Iran's energy facilities

Brent crude oil prices surged to $110 a barrel after Israel attacked the largest gas plant and another oil facility in Iran. The Islamic Revolutionary Guard Corps of Iran (IRGC) reacted by announcing that some Gulf energy sites are "legitimate targets".

Economy

Explainer: Why Kharg Island is vital to Iran and the global economy

Strikes have already hit military infrastructure on a small Iranian island in the Persian Gulf — but if oil facilities are targeted next, the global economy could face a serious shock.

Earth News

Fossil fuel shocks strengthen Gulf investment in African renewables

Gulf oil money is flowing into African renewables – and the Iran war is only accelerating the trend.

Economy

Hormuz becomes world's costliest waterway after 300% premium surge

Missile threats, soaring insurance premiums and suspended voyages are reshaping the trade that once went through Hormuz — and consumers will feel it within weeks.

Economy

Oil prices rise as Trump presses allies to secure the Strait of Hormuz

Oil prices continue to rise as the Iran war enters its third week, with President Trump pushing allies to help secure the Strait of Hormuz as investors react to threats facing Middle Eastern export facilities.

Qatar

The Iran war could trigger deeper economic fallout than markets expect

Beyond the battlefield, the Iran war is exposing fragile economic chokepoints from energy routes to fertilisers and industrial gases, raising concerns among economists that supply disruptions could shape global prices and trade long after the conflict ends.

Economy

US expands Russian oil waiver to all countries in bid to cool prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.