Mar 6market
Brent crude tops $91 in biggest weekly oil rally since 2022
Oil posted its largest weekly gain in four years as the Strait of Hormuz crisis deepened, with Brent surging 26% and WTI jumping 30% on fears of prolonged supply disruption.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Mar 5market
WTI crude breaks $80 as Hormuz standstill enters second week
US benchmark crude topped $80 a barrel for the first time since late 2024 as tanker traffic through the Strait of Hormuz remains frozen by the Iran conflict.
Mar 4policy
Trump orders Navy escorts and federal insurance to reopen Hormuz
The White House directed the DFC to backstop war-risk coverage for Gulf tankers and said the Navy would escort ships through Hormuz, but the fleet warned it lacks capacity.
Mar 4market
Gas prices spike 11 cents overnight as Iran war hits the pump
The national average for regular gasoline jumped 11 cents to $3.11 in the largest overnight move since 2022, and analysts expect another 25 to 40 cents ahead.
Mar 3gas
Qatar shuts world's largest LNG plant after Iranian drone strikes
QatarEnergy declared force majeure on LNG contracts after Iranian drones struck Ras Laffan, sending European gas prices surging nearly 50% on Monday.
Mar 2oil
Saudi Aramco shuts Ras Tanura refinery after Iranian drone strike
Saudi Aramco halted operations at its 550,000 bpd Ras Tanura refinery after intercepted Iranian drones sent debris into the facility, sparking a fire.
Mar 2market
Oil surges 8% as futures markets digest US-Israel strikes on Iran
WTI jumped to $72.57 and Brent hit $79.41 when futures opened Sunday, as banks warn crude could spike past $100 on Strait of Hormuz disruption fears.
Mar 2oil
Tanker traffic through Strait of Hormuz drops 70% after Iran strikes
Ship tracking data shows a 70% plunge in vessel traffic through the Strait of Hormuz as tanker owners suspend shipments and Iran sends mixed signals.
Mar 1opec
OPEC+ approves bigger-than-expected April output hike as Iran conflict escalates
OPEC+ agreed to add 206,000 barrels a day in April, beating analyst forecasts, as US-Israeli strikes on Iran and Strait of Hormuz tensions roil markets.
Feb 25gas
One year without US gas: China's LNG imports hit lowest since 2018
China's LNG imports are set to hit the lowest level since April 2018 as the tariff standoff with Washington enters its second year, reshaping global gas flows.
Feb 24oil
Chevron steps in as Lukoil exits Iraq's giant West Qurna 2 oilfield
Chevron signed preliminary deals to take over the 400,000 bpd West Qurna 2 field from Russia's Lukoil, which declared force majeure under US sanctions.