This escalation has created shockwaves in the oil markets, with Brent crude experiencing a surge of up to 13%, hitting $78.50 per barrel before plateauing around $75.

Future conflicts may be decoupled from oil shocks, giving Western powers more freedom to engage politically in the region ...

Oil price caught between OPEC and geopolitics – Commerzbank ... the Oil price is being supported by geopolitical factors. ... following a 6.39% price surge on Wednesday.

Geopolitics and the surge in the oil price are dominating markets on Friday. Brent and WTI crude oil are higher by 7% and 6% respectively, after Israel launched airstrikes on Iran. Brent is now ...

Suncor's steady production growth, solid profits, debt reduction, and attractive dividend yield make it a superior long-term investment. Read why SU is a Buy.

Israel's attack on Iran and the U.S.'s rejection of tougher oil sanctions could boost Russia's revenues from its key export.

Ukrainian President Volodymyr Zelensky says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues.

However, geopolitics and capital allocation also play crucial roles in the industry. ... they can cause prices to surge. Since oil and gas assets are developed over a long time, ...

June NYMEX WTI Futures moved above the 8- and 13-day Moving Averages but fell short of the 20-day MA. With the 13-day MA crossing over the shorter-term 8-day, it tends to indicate lower prices ahead.

Oil prices are at their lowest levels since the spring of 2021. At Thursday's close, a barrel of West Texas Intermediate crude was $59 a barrel, down from $74 at the start of January. The last ...

Iran accounts for around 4-5% of global oil supply, and nearly 20% of global crude and LNG passes through the Strait of Hormuz, a narrow waterway that Iran could, in theory, block.