OPEC+ Major Producers Decide to Keep November Output Unchanged
The Saudi-led OPEC+ alliance decided to maintain its current production quotas for November, citing uncertainty about the global demand outlook.
The Saudi-led OPEC+ alliance decided to maintain its current production quotas for November, citing uncertainty about the global demand outlook.
The Nasdaq composite hit another all-time high on continued AI-driven tech strength, while oil fell for a fifth straight day and pressured energy names, leaving the S&P 500 essentially flat amid sharp sector divergence.
Iran signaled the Strait of Hormuz could reopen within a week, prompting a swift response in global crude markets with WTI falling to $89 a barrel. Bitcoin steadied near $86,000 after a softer Asian session, with risk appetite lifting as oil prices declined.
Bloomberg reports that Saudi Arabia has informed several European refiners that crude shipments scheduled for next month will be withheld, a move likely to push already-strained global oil prices higher.
International oil prices fell for a fifth consecutive session as optimism over a U.S.-Iran interim deal weighed on markets. Brent crude dropped below key support to hit a three-month low.
Brent crude briefly surged above $126 a barrel, the highest since 2022. Axios reports that US Central Command has prepared plans for ‘short and powerful’ strikes on Iran as peace talks stall and the Strait of Hormuz remains effectively closed.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.
Brent crude oil futures broke through $120 per barrel after the US announced an extension of its naval blockade of Iran, with fears of a prolonged conflict driving energy prices sharply higher.
Brent crude oil breaks above $125 per barrel, reaching the highest level since 2022. US military commanders to brief Trump on new Iran military options Thursday as global stocks decline broadly.