Latest news and analysis on oil, gas, and commodity markets
Six major banks and forecasters have published oil price targets ranging from $85 to $150 a barrel. The entire spread hinges on one question: how long does Hormuz stay closed?
President Trump announced a full naval blockade of the Strait of Hormuz on Sunday after VP Vance departed Islamabad without a deal. Traders are bracing for a volatile open when futures markets resume Sunday evening.
VP Vance departed Pakistan after marathon talks with Iran broke down over nuclear weapons. The ceasefire expires April 22 with no follow-up scheduled.
The IEA calls the Hormuz closure the largest supply disruption in oil market history. At 9.1 million bpd shut in, it dwarfs every crisis since WWII.
VP Vance and Iran's Ghalibaf opened direct talks in Pakistan, the first high-level meeting between Washington and Tehran in 47 years. Oil markets are watching.
Iran's strikes cut 600,000 bpd from Saudi fields. The real blow: crippling the kingdom's only export pipeline bypassing the Strait of Hormuz.
March CPI rose 0.9% month-over-month, driven by the largest fuel price jump in nearly seven decades. The Fed now faces a stagflation trap with no easy exit.
IRGC-linked media published a chart marking normal Hormuz shipping lanes as mined. Ships rerouted near Larak Island. US minesweepers are in Asia, not the Gulf.
Three Cosco-linked VLCCs carrying Iraqi and Saudi crude raced toward the strait, then stopped. Oil dropped from $101 to $97 as traders watched the test.
WTI reclaimed $100 on Thursday, erasing half of Wednesday's historic crash. Goldman says Brent stays above $100 all year if Hormuz is shut one more month.
Iran demands Hormuz control, a $2M ship toll, sanctions lifted, and uranium enrichment rights. Vance heads to Islamabad Saturday to negotiate.