Oil prices surged more than 8% to their highest in months as Iran and Israel stepped up attacks, damaging tankers and disrupting shipments from the key producing region.
OPEC+ has a history of raising oil output to cushion disruptions but analysts said the group currently has little spare capacity to add to supply.
Crude-oil markets won't officially open for a few more hours, but traders are already using prediction markets like Kalshi to take bets on where prices will settle on Monday.
Tanker traffic through the Strait of Hormuz has effectively come to a stop as shipping companies take precautionary measures, analysts said. About a third of the world's seaborne oil exports passed th
Traffic through the Strait of Hormuz has dropped off amid warnings from the Iranian Revolutionary Guard. What happens next could have major implications for the global economy.
Markets were expected to react to the outbreak of conflict in Iran this weekend.
Bloomberg Intelligence's Mike McGlone explains what the US and Israeli strikes on Iran mean for oil and commodities prices. He speaks on "Bloomberg This Weekend.
Oil futures will begin trading later on Sunday. Saudi Aramco shares were climbing as trading resumed in Saudi Arabia, possibly hinting that crude is headed for a surge.
Oil and cryptocurrencies could see increased trading volatility after the death of Iran's supreme leader. 'Bloomberg This Weekend' hosts David Gura and Christina Ruffini speak with Bloomberg Intellige
Most tanker owners, big oil companies and trading houses suspended crude oil, fuel and liquefied natural gas shipments via the Strait of Hormuz after Tehran warned ships against moving through the wat
Analysts warn that a prolonged Strait of Hormuz disruption could push oil prices into triple digits. Markets are likely to price in an immediate-risk premium, analysts say.
OPEC+ will consider a larger-than-expected oil output increase on Sunday, two OPEC+ sources said after the U.S.-Israeli war on OPEC+ member Iran and Tehran's retaliation led to shipment disruptions in
Oil markets brace for potential Strait of Hormuz closure after U.S.-Iran escalation, with $100 crude emerging as a real upside risk for traders.
Possibly threatening the global oil supply, Iran is reportedly restricting navigation through the Strait of Hormuz following U.S. and Israeli major strikes.
The disruption to the Middle East's prodigious energy exports could have far-reaching economic consequences.
Click to get the best stock tips daily for free!

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE