Tanker confirmed hit by projectile in Hormuz Strait; Iranian cargo vessel reportedly attacked with casualties. Diplomacy stalled after Saudi pipeline damage.
Drone attack shuts Saudi East-West pipeline, disrupting oil supply as Hormuz talks stall and Houthis advance.
Oil jumped and stock futures fell at the week's open on unresolved Middle East tensions and OpenAI's IPO retreat.
A planned Hormuz meeting between Iran and Gulf states has been postponed at the request of regional countries. The delay adds uncertainty to oil markets.
Morgan Stanley warns of a possible stock market correction within 30 days, citing oil prices and AI concerns. Monday may bring the first test.
Houthi strikes on multiple pumping stations have shut down Saudi Arabia's critical east-west pipeline, cutting off up to 7 million barrels per day.
The Breakwave Tanker Shipping ETF (BWET) has gained 5,100% over the past year, driven by Iran war and shipping disruptions.
Oil prices dropped as WTI crude fell from a high of $104.46 to trade around $100, despite fresh attacks on Saudi energy infrastructure.
Markets were quiet ahead of US CPI data. UK GDP beat expectations. Oil fell 3% despite geopolitical tensions.
Gold trades near $4,300 support as oil surge fuels rate hike bets ahead of US CPI data.
Diesel hit $6 per gallon nationally for the first time, with 28 states recording all-time highs as crude oil prices remain elevated.
Bitcoin dips to key $76,000 support as oil surge and NFP data boost rate hike bets; all eyes are on the upcoming US CPI report.
Houthi forces in Yemen have taken Bab el-Mandeb, pressuring energy routes already hit by Iran's actions at Hormuz.
Oil prices surged above $100 a barrel, boosting Iran's leverage ahead of GCC-Iran talks on Monday.
Oil prices stayed near recent highs as unverified pipeline fire reports emerged, while Asia-Pacific stocks fell on geopolitical and rate worries.