Mixed signals from the United States are adding to uncertainty over the direction of the Iran conflict, even as Donald Trump is set to receive a high-level military briefing on potential next steps.
Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place.
US President Donald Trump has decided to adjust the tariffs imposed on imports of steel, aluminium, and copper to reduce duties on derivatives made from these metals, simplify compliance procedures, and prevent manipulation of import values.
US Army chief of staff and two other generals were sacked by US Defense Secretary Pete Hegseth on Thursday, amid the war with Iran.
US President Donald Trump on Thursday warned the US military will destroy bridges and electric power plants in Iran, even as the world awaited an end to the conflict.
Oil prices could rise to $120–$130 a barrel in the near term, with a risk of climbing above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, according to a JP Morgan note cited by Reuters.
US President Donald Trump has said that he is going to keep Iran under a naval blockade until the regime agrees to a deal that addresses US concerns about its nuclear programme.
Oil prices went up further on Wednesday, extending a multi-day rally, as the Iran and US blockades of the Strait of Hormuz continued.
The sharp rise in global air cargo rates following the outbreak of war involving the US, Israel and Iran is showing signs of slowing, as a fragile ceasefire allows capacity to gradually return to Middle East markets. The recovery was led by Gulf markets, where the capacity shortfall narrowed to 46% from 53%.
SLB has entered into a definitive agreement to acquire the geoscience and petroleum engineering software business portfolio of S&P Global Energy, a provider of subsurface software widely used by US onshore and unconventional operators.
