United Arab Emirates to quit oil cartel Opec
United Arab Emirates announced it will leave OPEC after nearly 60 years of membership. This decision is seen as potentially ending the oil cartel.
BBC Middle East143 h agoCL RYM ARAMCO
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Trump 'not satisfied' with Iran's latest peace proposal as talks stall
US President Donald Trump said he is not satisfied with Iran's latest peace proposal. Talks have stalled and prospects for compromise appear limited.
South China Morning Post143 h agoBABA PDD CL
Exxon Mobil CEO expects higher oil prices due to Iran war: 'The market hasn't seen the full impact'
Exxon Mobil CEO states that market has not yet fully priced in the impact of Iran war. Strait of Hormuz tensions suggest oil prices could rise further.
CNBC Top News143 h agoSPX XLE CL
Facing 60-day deadline, Trump administration claims Iran war 'terminated'
The Trump administration argues that the Iran war has effectively ended due to the ceasefire that began in early April, circumventing the need for congressional approval under the 1973 War Powers Resolution's 60-day window. Critics view this as legal overreach. Oil markets react directly.
South China Morning Post154 h agoCL
Oil rises as White House says Iran ceasefire halts 60-day war deadline
The Trump administration argues that the Iran war has already 'terminated' due to an early-April ceasefire, allowing it to avoid triggering the 60-day congressional notification requirement under the 1973 War Powers Resolution. This interpretation seeks to circumvent the legal requirement for presidential notification to Congress. Oil volatility reflects this dispute.
CNBC Top News154 h agoSPX CL
Iran war-driven surge in oil prices pushes Japan toward yen intervention
Rising oil prices suggest Japan may need to intervene to support the yen. Higher energy prices could negatively impact the Japanese economy.
Nikkei Asia143 h agoN225 JPY CL
Brent oil tops $104 per barrel on report Iran's top negotiator resigned
Oil prices exceeded $104 a barrel on an unconfirmed report that Iran's chief negotiator resigned, signaling reduced chances of diplomatic resolution and potential escalation. The market is driven by fears of supply disruptions in the Strait of Hormuz.
CNBC Top News335 h agoSPX CL