Huge miss in US jobs report suggests labor market weakening, as Middle East crisis drives oil price higher and higher

Oil prices could soar to $150 a barrel within weeks as the Strait of Hormuz remains de facto closed to tankers, prompting Kuwait to shut in production and major Gulf exporters to prepare force majeure declarations.

The Middle East has been on high alert after the US and Israel carries out joint strikes on Iran over the weekend and Iran retaliated by hitting key sites across the region

An oil tanker has been struck off the coast of Kuwait, with crew witnessing a large explosion before seeing 'a small craft leave the vicinity'.

March 4 (Reuters) - Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels per day (bpd) by day eight of the Middle East conflict,

The British maritime security agency reported that the vessel's master witnessed the blast before spotting a small craft fleeing the area near the Mubarak Al-Kabeer district. The

Oil experts have identified alternative routes for exporting Kuwaiti oil in the event of the total closure of the Strait of Hormuz. In an

U.S. stocks are back to falling as oil prices rise further because of the war with Iran, but the moves are less severe than earlier in the week. The S&P 500 fell 0.5% early Thursday, coming off a frenetic start to the week.