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Oil fluctuated after Iran denied a report that it indirectly reached out to the US in a bid to end the war in the Middle East, as the conflict menaces vital global energy flows. Bloomberg's Mike McGlone joins to discuss the fluctuation in oil as well as how commodities are moving amid the Iran war.
Charter rates nearly doubled in recent days and are up fivefold since the start of the year.
The U.S. and Israel started a conflict with Iran over the weekend, wreaking havoc on the oil-rich Middle East region. Brent crude prices are taking the bigger brunt of the impact, with its premium above U.S. benchmark prices having climbed to their highest in over two years.
Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East.
The U.S. stock market is rebounding Wednesday from two days of punishing swings after oil prices stopped spiking and reports gave encouraging updates on the economy.
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Max Layton, Citi global head of commodities research, joins 'The Exchange' to discuss the oil complex, how the war plays into the energy landscape and more.
Oil traders have started to take profits after the strong rally.
US stocks rebound mid-session as crude pulls back and jobs data beats forecasts. Nasdaq-100 leads gains as easing inflation supports tech stocks.
As crude prices rise on escalating Middle East tensions, airline ETFs are flashing red, reviving a classic macro trade: long energy, short aviation.
FOX Business' Edward Lawrence travels with U.S. Interior Secretary Doug Burgum to Venezuela as he looks to create rare earth mineral mining business partnerships. #foxbusiness #varneyandco
Oil prices are on the rise, hitting an 18-month high as of Tuesday as the conflict between the United States, Israel, and Iran continues.
Oil inventories, excluding the Strategic Petroleum Reserve, rose by 3.5 million barrels. Analysts expected inventories to have risen by 1.6 million barrels.
PrairieSky Royalty offers high-margin, low-capex exposure to Western Canadian oil and natural gas prices. Despite 3% production growth in 2025, PSK's earnings were pressured by lower realized oil and NGL prices, with EPS down to C$0.87. PSK trades at ~21x FY 2025 FFO, with significant torque to higher commodity prices but remains expensive even with optimistic scenarios.
"Oil has gone up a bit. But the bigger question is does oil stay up or does it come back down?
Oil pared gains and markets steadied after the NYT reported of Iran's attempted outreach with an offer to discuss terms for ending the war. -------- More on Bloomberg Television and Markets Like this video?
The Trump administration is pledging more support for the oil trade in the Persian Gulf after unveiling a pair of measures on Tuesday.
Headlines will continue to be the main driver here in the oil markets, as supply disruptions are by far the biggest worry.
S&P500 finds support as oil retreats and volatility eases. Investors watch Treasury yields, Fed policy signals, and Iran tensions for direction.
While Iran is estimated to produce less than 5% of the world's oil, it has major influence over the Strait of Hormuz, through which more than 20% of the world's daily oil demand flows. Iran has already fired on some ships in the strait and traffic through the passageway is at a standstill.