Oil Prices Near $100 as US-Iran Tensions Disrupt Hormuz Traffic

Latest Oil Market News and Analysis for Sept. 8

Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran’s control over the crucial waterway.

By Bingyan Wang

FirstFT: Oil prices near $100 as renewed supply crunch looms

Also in today’s newsletter: India’s biggest private bank grapples with leadership vacuum and China pumps $53bn into banks and insurers

Oil Prices Near $100, Hit Multi-Week Highs On Fresh U.S.-Iran Tensions

Global oil prices hit multi-week highs and neared the $100 per barrel mark on Monday, following another escalation of tensions between U.S. and Iran.

By Gaurav Sharma, Senior Contributor

Explainer-Why isn't oil above $100 despite supply disruptions?

Global oil prices remain under the $100 per barrel mark, despite substantial volumes continuing to move through the Strait of Hormuz. Gulf producers are adapting by employing alternative shipping routes to counter any export deficiencies. Additionally, other oil-producing nations are boosting their output to compensate for supply shortages. The drop in demand from major markets is also putting pressure on global oil pricing.

Commodity Corner: Oil extends gains as Middle East tensions raise supply disruption concerns; gold steady... - Moneycontrol.com

Commodity Corner: Oil extends gains as Middle East tensions raise supply disruption concerns; gold steady...  Moneycontrol.com

Oil rises as risks of prolonged Mideast conflict heighten supply worries

Hormuz traffic slows after Iran threatens retaliation for US attacks

By Reuters