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Crude futures were lower and ING said the market’s biggest fear is the Strait of Hormuz shutting down, with significant disruption to oil flows sufficient to push prices to $120 a barrel.
Tensions in West Asia raise concerns over oil markets as Iran-Israel clashes threaten Strait of Hormuz closure.
About 21mn barrels of oil from Iran, Iraq, Kuwait, Saudi Arabia, Qatar and the United Arab Emirates pass daily through the narrow waterway separating the Islamic republic from the Gulf states, ...
Amid the ongoing tensions between Israel and Iran, ExxonMobil's CEO says there's enough spare capacity to offset any Iranian ...
Iran has significantly increased its daily oil exports following an Israeli attack, attempting to ship out as much crude as ...