Energy Market News

Latest news and analysis on oil, gas, and commodity markets

$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.

Mar 27oil

Seven Russian oil tankers flip from China to India after US opens 30-day window

At least seven tankers carrying Russian crude changed course mid-voyage from China to India after the US Treasury issued a 30-day sanctions waiver to ease global supply pressures.

Mar 27market

Slovenia rations fuel as Europe scrambles to contain energy fallout

Slovenia imposed a 50-liter daily cap on fuel purchases, the first EU rationing during the Iran war. Spain, Germany and France rolled out billions in emergency aid.

Mar 26market

Gas prices jump $1 in a month as Iran war squeezes American wallets

The national average hit $3.98 a gallon on Wednesday, up from $2.98 before the strikes on Iran began. Diesel jumped 44% to $5.38, adding pressure to food and shipping costs.

Mar 26oil

Oil surges 5% as Iran rejects Trump ceasefire and demands Hormuz control

Brent crude jumped back above $107 a barrel on Thursday after Iran dismissed the US 15-point peace plan and demanded sovereign control over the Strait of Hormuz.