Market Chatter: PM Carney to Meet Alberta's Premier on Friday to Advance Oil-Export Pipeline Plans

MT Newswires37minutes ago

Crude Oil Futures Flat as Strait of Hormuz Traffic Rises

Seeking AlphaMay 14 22:35

Iran reports that dozens of vessels are crossing the Strait of Hormuz, causing oil prices to fall.

On Thursday, official Iranian media reported that approximately 30 vessels had crossed the Strait of Hormuz within the past few hours, causing oil prices to decline. The price of Brent crude futures retreated from a previous high of $107.13 per barrel. At 14:22 Greenwich Mean Time, Brent crude futures (LCOc1) fell by 60 cents, or 0.6%, to $105.03 per barrel, while U.S. West Texas Intermediate crude futures dropped by 52 cents, or 0.5%, to $100.50 per barrel. The Strait of Hormuz is a critical global energy passage.

Global Market UpdatesMay 14 22:20

Fed's Schmid Sasy Continued Inflation Is Most Pressing Risk To Economy, Clear That It Is Still Too High; US Economy Has Shown 'Remarkable Resilience' And Economic Fundamentals Remain Sound; US Economy Less Vulnerable To Global Oil Disruptions Than In...

BenzingaMay 14 22:18

OPEC+ plans to continue increasing crude oil production quotas, but geopolitical conflicts hinder the implementation of production increases.

This round of production increase remains a policy on paper, with actual implementation facing practical obstacles.

Zhitong FinanceMay 14 20:37

India's Wholesale Inflation Accelerates in April

MT NewswiresMay 14 18:16