More tankers struck in the Middle East as Iran reiterates conditions for reopening the Strait of Hormuz
Tehran's conditions include a halt to U.S. "acts of aggression," an end to the naval blockade and economic warfare, and the release of Iranian assets.
Iran has stated conditions for reopening the Strait of Hormuz, including a halt to US acts of aggression, an end to the naval blockade and economic warfare, and the release of Iranian assets.
The ongoing conflict in the Middle East has led to supply pressures, causing oil futures to move back towards $100 a barrel and diesel prices to reach records. In response, Group of Seven countries have announced the release of up to 100 million barrels of emergency oil and diesel stocks.
Major OPEC+ producers, led by Saudi Arabia and Russia, are expected to keep oil production quotas unchanged in November, according to delegates. The decision would follow the alliance's existing production roadmap, which previously signalled that further quota increases would be paused through the end of 2026.
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- OPEC+ agrees in principle to keep November oil output targets steady, sources say investing.com
- More tankers struck in the Middle East as Iran reiterates conditions for reopening the Strait of Hormuz cnbc.com
- OPEC+ agrees in principle to keep oil output targets unchanged in November, delegate says thehindubusinessline.com
- OPEC+ holds November oil output targets steady amid supply squeeze seekingalpha.com
