Select Language

Oil near five-month high - ING

Breaking news

Oil near five-month high - ING

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.18 18:26
Oil near five-month high - ING

update 2025.06.18 18:26

The oil market remains on edge with the conflict between Israel and Iran entering its sixth day, ING's commodity experts Ewa Manthey and Warren Patterson note.

Oil market fears the shutdown of the Strait of Hormuz

"Prices have rallied around 10% since Israel started its attack on Iran last week and are now close to a five-month high after US President Trump met with his national security team on Tuesday to discuss the escalating conflict, sparking speculation that the US could be preparing to join the attack."

"The biggest fear for the oil market is the shutdown of the Strait of Hormuz. This could impact oil flows from the Persian Gulf. Almost a third of global seaborne oil trade moves through this chokepoint. A significant disruption to these flows would be enough to push prices to $120/bbl."

"OPEC's spare capacity would not help the market in this case, as most of it is located in the Persian Gulf. Under this scenario, we would need to see governments tap into their strategic petroleum reserves, although this would only be a temporary fix."


Date

Created

 : 2025.06.18

Update

Last updated

 : 2025.06.18

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

EUR consolidates in low 1.17s - Scotiabank

The Euro (EUR) is quietly consolidating in the low 1.17s and extending this week's narrow range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.07.10 20:32

CAD is little changed on the day - Scotiabank

The Canadian Dollar (CAD) remains range-bound but has made a little progress overnight, reflecting the generally softer US Dollar (USD) undertone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.07.10 20:26

USD slips as markets digest tariff news - Scotiabank

The US Dollar (USD) is trading a little more defensively overall this morning as markets digest the latest round of US tariff news--a hefty 50% on copper and 50% on Brazil, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
update2025.07.10 20:24

Gold Price Forecast: XAU/USD is testing trendline resistance at $3,325

Gold (XAU/USD) found buyers right below the $3,300 level on Wednesday to regain some of the ground lost over the previous days.
New
update2025.07.10 20:00

AUD/USD jumps to near 0.6570 as RBA needs confidence over inflation cooling down

The AUD/USD climbs to near 0.6570 during the European trading session on Thursday.
New
update2025.07.10 19:45

USD/CNH: Chance of edging lower and testing 7.1720 - UOB Group

Softening underlying tone may lead to US Dollar (USD) edging lower and testing 7.1720 against Chinese Yuan (CNH). In the longer run, increasing momentum suggests USD may rise, but it is too early to expect 7.2000 to come into view, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.07.10 19:13

USD/CAD eases from 1.3700 Fed cuts hopes, higher Oil prices

The US Dollar retreated from two-week highs above 1.3700 on Wednesday, following the release of the FOMC m¡inutes and weighed by falling US Treasury yields.
New
update2025.07.10 19:07

Rising JGB yields keep Yen under pressure - BBH

USD/JPY eased off from this week's high above 147.00, while JPY continues to underperform against most major currencies, BBH FX analysts report.
New
update2025.07.10 19:03

USD/JPY: Scope to extend to 145.60 before stabilisation - UOB Group

Pullback in US Dollar (USD) has scope to extend to 145.60 before stabilisation is likely against Japanese Yen (JPY); strong support at 145.20 is unlikely to come under threat.
New
update2025.07.10 19:00

MXN: Inflation figures bring no relief - Commerzbank

Yesterday's Mexican inflation figures offered little relief: the seasonally adjusted core rate remained roughly consistent with the previous two months, Commerzbank's FX analyst Michael Pfister notes.
New
update2025.07.10 18:56

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel