Strait of Hormuz tensions and global oil supply risks The U.S. used 5,000-pound deep penetrator bombs to attack Iranian missile sites in the Strait of Hormuz. At present, following Iranian threats to target ships, many vessels are avoiding the Strait of Hormuz, a critical artery for the global energy market, through which about 20% of …
Tag: Strait of Hormuz
Iranian war sent crude oil up more than 6%
Crude Oil Prices Jump Nearly 13% as Iran Conflict Enters Third Day Crude oil prices shot up nearly 13% on the world markets as the U.S. and Israeli military strikes continued Monday on Iran, marking the third day of the war. Natural gas prices also rose as the retaliation by Tehran following the deaths of …
War sends oil prices rising and they could go higher
Duration of War on Iran Key in Rising Oil Prices The war against Iran did one thing this week—send crude oil prices climbing. Prices in the U.S. rose to nearly $73 a barrel after closing Friday, prior to the launching of the attacks by Israel and the U.S., at $67 a barrel. How much higher …
Energy Briefs: Jobs, Data Centers, Power and Oil Markets
Houston Oil and Gas Job Losses Forecast A Houston-area employment forecast finds that lower oil prices, corporate consolidation, and efficiency gains will lead to thousands of job losses in the oil and gas sector this year. Senate Bill Targets Data Center Power Costs Data centers have grown in recent years to support the rise of …