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Oil prices dropped due to hopes of a resolution to the US-Iran conflict, as suggested by Donald Trump, leading to a positive impact on the FTSE 100.

Oil prices dropped due to hopes of a resolution to the US-Iran conflict, as suggested by Donald Trump, leading to a positive impact on the FTSE 100.

Goldman Sachs predicts oil prices could surpass the 2008 record of $147, potentially driven by ongoing demand and supply constraints.

The ongoing Iran war and closure of the Strait of Hormuz are expected to drive oil prices higher, with expert Rachel Ziemba stating that current prices underprice the outage.

Oil prices rose after President Trump's ultimatum to Iran regarding the Strait of Hormuz, increasing tensions and risking an escalation of conflict.

A record-setting petroleum lease sale in Alaska's National Petroleum Reserve drew $163.7 million in high bids, signaling Big Oil's continued interest in the region's resources despite development and court challenges.

US equity markets declined on Thursday due to an escalation in the Middle East war, sparking risk-off sentiment and potential global economic implications.

The escalating Middle East conflict between Israel and Iran, with threats of further strikes on gas production facilities, including the South Pars gas field in Iran, poses significant risks to global energy markets.

A significant collapse in Middle East oil supply, with exports plummeting by nearly two-thirds from 25.13 million barrels daily in February to 9.71 million barrels a day by mid-March, has made the previously unthinkable $200 oil price a real possibility.

Saudi Arabia's oil exports through its Yanbu port on the Red Sea are expected to reach a record high of 3.8 million barrels per day in March, bypassing the disrupted Strait of Hormuz route.

Iraq and Kurdistan have reached a deal to resume oil exports via Turkey, boosting oil production for OPEC's second-largest producer.

Asia is experiencing a severe energy crisis due to the Iran War, leading to soaring fuel prices and shortages of essential energy resources.