May 1iran-war
Iran may have to shut wells within weeks as Kharg Island fills up
Kharg Island storage tanks hit 74% capacity as the US blockade chokes off exports. Analysts say Iran could face forced production cuts within two weeks.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Apr 29analysis
Brent rolled to July and the headline price just dropped $6 overnight
Brent's June contract expired Tuesday. The new July front month trades $6 lower, and that mechanical drop is why the screen looks bearish today, not the news.
Apr 28analysis
EU energy bill tops €24 billion since Iran war as diesel jumps 26%
The EU has spent €24 billion more on energy since the Iran war began, with diesel up 26% and Germany cutting fuel taxes to soften the household hit.
Apr 28opec
UAE quits OPEC and OPEC+ on May 1 after nearly 60 years of membership
The UAE will leave OPEC and OPEC+ on May 1, ending six decades inside the cartel and freeing Abu Dhabi to push production toward 5 million barrels a day.
Apr 27oil
Iran offers Hormuz reopening for blockade lift as Trump weighs deal
Tehran put a Hormuz-for-blockade offer on the White House desk over the weekend, with nuclear talks shelved to a later phase. Markets are pricing the delay.
Apr 25oil-prices
Trump scraps Pakistan trip, setting up gap risk at Sunday oil open
Trump pulled Kushner and Witkoff from Pakistan Saturday after Iran delivered demands and walked. With talks dead, oil futures face gap risk at Sunday's 6 PM ET reopen.
Apr 24iran-war
Pentagon says clearing Hormuz mines could take six months; Trump triples the fleet
A senior Pentagon official told the House a full Hormuz mine sweep could need six months. The Pentagon then denied the number publicly, and Trump tripled the sweep fleet.
Apr 24oil-prices
Oil pushes higher as Iran pockets first Hormuz toll, US seizes tanker
Brent held near $103 Thursday as Iran booked its first revenue from Hormuz tolls, the US seized another tanker, and CENTCOM's turnaround count hit 31 ships.
Apr 22oil-prices
Brent jumps to $102 as Iran seizes tankers and skips Pakistan talks
Brent surged 3.65% to $102.21 as Iran seized two container ships and skipped talks in Islamabad, even after Trump extended the US-Iran ceasefire indefinitely.
Apr 21jet-fuel
Europe has six weeks of jet fuel left and airlines are already cutting
IEA chief Fatih Birol warns Europe has six weeks of jet fuel remaining. Airlines from KLM to Qantas are slashing routes, and fares are climbing fast.
Apr 21iran-war
Iran ceasefire expires tomorrow with no talks and no plan
The US-Iran ceasefire expires Tuesday night with no extension in sight. Tehran rejected new talks, Trump threatens force, and 230 tankers sit trapped in the Gulf.