Brent futures declined by $1.86, or 1.87%, to $97.50, while U.S. West Texas Intermediate (WTI) crude fell $2.25, or 2.27%, to $96.83 by 0003 GMT. Both benchmarks had risen in the previous session, with Brent climbing more than 4% and WTI nearly 3%, after the U.S. military began a blockade nL6N40V09S of Iran's ports. The U.S. military said nL1N40W0DH on Monday that its blockade of the Strait of Hormuz would extend east to the Gulf of Oman and Arabian Sea, while ship-tracking data showed two ships turned around in the strait as the blockade went into effect. Iran, in response, threatened to target ports in Gulf-bordering nations following the collapse of weekend talks in Islamabad aimed at resolving the crisis. "Despite the breakdown of peace talks in Pakistan over the weekend, Trump has managed to take some steam out of the oil price again dangling carrot of a possible deal," said Tim Waterer, chief market analyst at KCM Trade. Sources familiar with the negotiations said dialogue nL4N40W0L7 between Iran and the U.S. was still alive, while Pakistani Prime Minister Shehbaz Sharif affirmed ongoing efforts to de-escalate tensions. Trump said on Monday that Iran "wants to make a deal" nL6N40W11B. ANZ analysts estimate L1N40W154 that about 10 million barrels per day of crude supply have been effectively removed from the market, adding that a prolonged U.S. blockade could curb an additional 3 million to 4 million bpd of crude shipments. "The oil market no longer needs a worst-case escalation to justify higher pricing levels. Tight balances alone are sufficient to sustain the price of Brent near or above recent threshold levels," ANZ said in a client note. NATO allies, including Britain and France, refrained nL8N40W0OM from joining the blockade, advocating instead for reopening the vital waterway. U.S. Energy Secretary Chris Wright suggested nL1N40W11Y oil prices could peak in "the next few weeks" once shipping resumes through the Strait of Hormuz. The International Monetary Fund, the World Bank, and the International Energy Agency urged countries nL1N40W0Y8 to avoid hoarding energy supplies or imposing export curbs amid what they described as the most significant shock ever to the global energy market. IEA chief Fatih Birol said nL1N40W0TE on Monday that while further strategic oil releases might not yet be necessary, the agency remains prepared to act if needed. Meanwhile, the Organization of the Petroleum Exporting Countries scaled back nL6N40W0P6 its second-quarter global demand forecast by 500,000 bpd in its latest monthly report. (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Brent futures declined by $1.86, or 1.87%, to $97.50, while U.S. West Texas Intermediate (WTI) crude fell $2.25, or 2.27%, to $96.83 by 0003 GMT. Both benchmarks had risen in the previous session, with Brent climbing more than 4% and WTI nearly 3%, after the U.S. military began a…
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According to unverified accounts provided by a relative, Valivade served as a refuge for approximately 5,000 Polish refugees between 1942 and 1948, a period marked by the displacement of civilians following the 1939 invasion of Poland. The source claims that individual survivors, including a girl reportedly disguised to avoid danger, found temporary stability at the settlement, which is locally known as "Drugi Dom.
The United States and Israel have reportedly engaged in a regional conflict with Iran for nearly six months, during which Strait of Hormuz oil transit has remained significantly below prewar levels of 20 million barrels per day, despite U.S. officials claiming Navy escort operations.
Although the Strait typically facilitates over 20% of global energy trade, analysts suggest that the Islamic Revolutionary Guard Corps may continue to restrict normal transit even if diplomatic agreements are reached. Current tensions have escalated following the expiration of a reported 60-day ceasefire, prompting the U.
S. to announce new economic isolation measures while hostilities appear to have resumed.
Sudan’s civil war, which has persisted for nearly four years, has reportedly displaced over 13 million people and caused significant famine, with casualty estimates suggesting approximately 59,000 deaths. Recent U.S. officials have highlighted the severity of the humanitarian crisis, noting that two-thirds of the population requires aid, while reports from the UN Security Council indicate that armed drones have been responsible for the majority of recorded civilian deaths in the first half of the year.
Mediator Oman reported that the United States and Iran made progress in their negotiations regarding Tehran's nuclear program on Thursday. However, the hours-long talks concluded without a clear indication of a final agreement.