Apr 2market
Oil surges 8% as five crisis points collide before April 6
Brent hit $109 and WTI topped $108 as Trump's deadline, a failed summit, Qatar's LNG collapse, and OPEC's meeting all converged in a single session.
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Apr 2oil
35 nations, no America: UK hosts summit to reopen Hormuz
Britain convened 35 countries to discuss reopening the Strait of Hormuz. The US was not invited. Trump told allies to go get your own oil instead.
Apr 1analysis
$2 million to cross: how Iran turned Hormuz into a toll road
Iran's Revolutionary Guard charges ships up to $2 million to cross the Strait of Hormuz. Parliament just voted to make the fees permanent, creating a wartime revenue machine.
Mar 31oil
Trump threatens to seize or destroy Kharg Island, Iran's oil lifeline
Trump said the US could 'obliterate' Kharg Island, which handles 90% of Iran's crude exports. Oil spiked to $116 before settling back near $103.
Mar 30analysis
Diesel hits $5 as refineries go dark from Texas to the Persian Gulf
More than 4 million barrels of daily refining capacity is at risk. US diesel jumped 38% in two weeks, and fuel inventories are heading to their lowest since 2000.
Mar 30analysis
Oil futures say the crisis has an expiry date - here's what the curve shows
Brent's futures curve prices December crude at $85, a 26% discount to today. The market is betting the Hormuz crisis resolves well before year-end.
Mar 30oil
Houthis open second front, threaten to shut Bab el-Mandeb strait
Houthi missiles targeted Israel as the group warned it may close Bab el-Mandeb, threatening to block both major Middle East oil chokepoints at once.
Mar 29market
Airlines warn jet fuel could run dry within weeks
Jet fuel prices have nearly doubled since February as the Iran war chokes supply routes. Airlines are cutting flights and warning reserves may not last past May.
Mar 28analysis
Oil's rare 'smiley face' futures curve bets the Iran war ends soon
The oil futures curve has bent into a shape seen less than 1% of the time, with Brent at $113 for July but just $80 for December. A historic bet on peace.