crude oil News Updates

Brent crude oil rose 2.7% to $112.39 a barrel. Prices rose after an attack on a major Saudi Arabian refinery by Iran-backed Houthi rebels this week.

It remains unclear what prompted the advisory. The U.S. military last publicly issued a similar notice in mid-July, when it began its blockade of Iranian shipping.

Brent crude ticked down 0.4% to $110.24 a barrel. Diesel was going for $6.35 on Oct. 27, an increase of about 74% compared with this time last year.

Brent crude rose 2.7% to $116.24  a barrel, and the national average for a gallon of regular gas rose 2 cents to $4.29 on Oct. 23, compared with $3.07 a year ago.

U.S. crude oil exports to Asia are set to hit multiyear lows after the Iran war pushed the cost to lease a tanker for the journey to a record of almost $80 million.

Brent crude gained 2.2% to $111.19 per barrel. It has been bouncing between $97 and $112 in recent days on uncertainty about when the war with Iran will allow the global energy industry to return to normal.

The price of Brent crude dipped 0.4% to $108.31 per barrel. A day earlier it rose to nearly $112, approaching its highest price since the war with Iran began in late February.

Next year, Halliburton expects mid-single-digit revenue growth and operating margins of about 15%, up from 13%.

Brent crude gained 0.9% to $110.59 a barrel. Uncertainty about when the war with Iran will allow the energy industry to return to normal means oil prices are unlikely to ease any time soon. 

The Trump administration is authorizing the sale of sanctioned oil tankers in an effort to allow the vessels to start legitimately shipping crude.