Crude oil prices sharply increased following reports that Israel is considering strikes on Iranian nuclear facilities, which would threaten ongoing US-Iran negotiations and potentially escalate into a broader Middle Eastern conflict.

Oil prices slipped on Tuesday as traders weighed the impact on supply from Russia-Ukraine peace talks and US-Iran negotiations, strong front-month physical demand in Asia and a cautious outlook for China's economy.

Oil futures grind lower with geopolitical news taking a back seat and the possibility of another large output increase by OPEC+ for July raising supply concerns. Citi analysts see "highly binary geopolitical risks" around U.

Lifting U.S. sanctions on Iran could temporarily lower oil prices, but this relief may be short-lived as resilient demand and tight inventories counteract the drop. Independent Chinese refiners ...

Oil prices were little changed on Tuesday due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data delivered a cautious outlook for top crude-importer China's economy.

Hong Kong is attracting intense attention from the world’s biggest powers and not all of it is the good kind. A US Treasury delegation met with the city’s banks to warn them against facilitating Iran oil shipments to China in April,