Topic
Oil Markets
60 stories related to this topic, newest first.
freepressjournal.inbusiness2 days ago
Gasoline, diesel and jet fuel prices rise as crude oil costs ease
Refined fuel prices in the United States and Europe have increased even as global crude benchmarks declined. The divergence has raised costs for summer travelers and added to inflation concerns.
joe.iepolitics3 days ago
U.S. National Gasoline Price Rises to $3.88 per Gallon
The national average for regular gasoline increased to $3.88 a gallon on Friday, up from $3.84 the previous week. Renewed U.S.-Iran military clashes and other supply constraints are cited as contributing factors.
wwd.comfinance3 days ago
Trump Orders Strikes on Iran After Attacks on Ships
President Trump on July 9 said the U.S. ceasefire with Iran had ended and ordered fresh strikes following attacks on ships in the Strait of Hormuz. Oil prices rose sharply the prior day after Washington revoked a sanctions waiver for Iranian oil.
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politics3 days ago
U.S. and Iran Maintain Back-Channel Talks Despite Hormuz Attacks and Rising Oil Prices
The fragile ceasefire between the United States and Iran shows signs of collapse after renewed attacks on commercial vessels in the Strait of Hormuz. Oil markets reacted with crude above $72 a barrel and U.S. gasoline prices climbing to $3.88 per gallon.
benzinga.comfinance4 days ago
Goldman Sachs says Hormuz disruptions slow Middle East oil recovery
Goldman Sachs reversed its earlier forecast of an oil glut and now warns that renewed hostilities in the Persian Gulf may extend supply disruptions. The bank said Middle East production remains 10.5 million barrels per day below pre-war levels and that tanker attacks have raised…
rigzone.comfinance5 days agoUpdated
China Lifts Fuel Export Curbs as Refiners Plan 3 Million Tons of Overseas Shipments
China has removed restrictions on refined fuel exports, allowing state-owned refiners and one private refiner to resume overseas shipments this month. Refiners plan to export about 3 million metric tons of gasoline, diesel, and jet fuel in July.
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South China Morning Postworld6 days ago
China's Crude Oil Demand Expected to Peak This Year
Executives from the country's largest oil firm said demand will slow as electric vehicle use cuts transport fuel consumption. The shift follows disruptions in the Strait of Hormuz that moved the market into a supply deficit.
world8 days ago
Iran to close Tehran airspace Monday for funeral ceremonies
Iran will fully shut Tehran’s airspace on Monday during funeral arrangements for its former supreme leader. Iranian state media reported the closure alongside updates on regional developments and OPEC+ output decisions.
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world8 days ago
Mourners Fill Tehran Mosque for Second Day of Funeral Ceremonies
Thousands of people gathered at Tehran’s Mosalla Mosque for a second day of ceremonies marking the death of Iran’s former supreme leader. Iranian state media reported meetings on the sidelines and noted displays of red flags at the site.
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middleeasteye.netpolitics5 days agoUpdated
Tanker Attacks Prompt U.S. Strikes on Iran; Brent Crude Rises Above 78 Dollars
Oil prices jumped after attacks on tankers in the Strait of Hormuz prompted U.S. strikes inside Iran. Tanker traffic through the strait has stopped and gas prices in Europe also increased.
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americanbanker.combusiness10 days ago
U.S. Antitrust Regulators Tell States to Watch Oil Markets for Price-Fixing
Justice Department and Federal Trade Commission officials said Friday they are watching oil markets for potential price-fixing or monopolization. They sent a letter to state attorneys general noting that volatility does not suspend antitrust or consumer protection laws.
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cnbc.comworld11 days ago
Iranian Crude Tankers Lack Buyers After Sanctions Waiver
More than 58 million barrels of Iranian oil remain on the water with over 90 percent lacking a confirmed destination. Chinese refiners have reduced purchases amid lower run rates and financing concerns.
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ZeroHedgefinance11 days ago
Vice President Says U.S. Will Use Iran MoU to Refill Oil Supplies
Vice President JD Vance stated the U.S. will use the memorandum of understanding with Iran to replenish global oil stocks before deciding on further steps. The comments came in a Tuesday interview on The Michael Knowles Show.
Substrate placeholder — needs reviewfinance11 days ago
Chinese Private Refiners Buy Saudi, Emirati and Iraqi Crude Cargoes
Three unnamed Chinese private refiners purchased Middle East crude on the spot market this week as benchmark prices fell. Bloomberg reported the transactions citing trading sources.
news.sky.comworld12 days ago
UK Diesel Prices Record Largest Monthly Drop Since 2000
Diesel prices in the UK fell more than 16 pence per litre in June, the largest monthly decline in over 25 years. The drop followed lower oil prices after a US-Iran peace deal allowed more tankers through the Strait of Hormuz.
axios.comworld14 days ago
U.S. Average Gas Price Falls to $3.86 per Gallon
Nationwide gasoline prices declined to an average of $3.86 per gallon as of Monday. The drop follows reduced flows through the Strait of Hormuz after recent hostilities between the U.S. and Iran.
winnipegfreepress.compolitics15 days ago
Gasoline prices fall in one U.S. district after oil drops following U.S.-Iran ceasefire
Gasoline prices declined rapidly in one Federal Reserve district after oil prices fell following a recent ceasefire agreement between the U.S. and Iran. The district's central bank chief noted the price movement.
financialpost.comfinance18 days ago
Asian Refiners Cut Spot Purchases of Middle East Crude for June and July
Asian buyers have reduced spot orders of UAE, Saudi, and Iraqi crude after a three-week period of heavy purchases. High freight and insurance costs linked to Strait of Hormuz uncertainty have reduced the price advantage of Middle Eastern grades.
The Independentbusiness18 days ago
UK Petrol at 152.9p, Diesel at 170.5p as Oil Falls Below $73
Average UK pump prices remain above pre-conflict levels even as Brent crude dropped to $72.24 a barrel. The AA said the gap is about 20p for petrol and 28p for diesel.
The Independentpolitics19 days ago
U.S. Gasoline Prices Fall 49 Cents a Gallon in Past Month
Average U.S. gasoline prices dropped 49 cents per gallon over the past month after an interim agreement between the U.S. and Iran. The decline has not matched the 27 percent drop in crude oil prices during the same period.
benzinga.comfinance19 days ago
China Crude Imports Fall to Lowest Level Since 2018
Chinese crude imports dropped to their lowest level since 2018 as the country drew more heavily on strategic reserves and cut purchases from major Middle Eastern suppliers. Brent crude settled at $73.39 per barrel and WTI at $70.11 per barrel on Wednesday.
foxbusiness.comfinance20 days ago
Countries Plan Expanded Oil Storage After Hormuz Closure
The temporary closure of the Strait of Hormuz stranded more than 10 million barrels per day of crude. Import-dependent nations in Asia are now expanding strategic petroleum reserves to reduce future supply risks.
thehindubusinessline.comfinance21 days ago
Iran Requires New Transit Permits and Free Insurance for Strait of Hormuz Vessels
Iran launched an obligatory insurance and permit regime for vessels in the Strait of Hormuz on June 22, 2026, administered by the new Persian Gulf Strait Authority. Oil prices showed mixed movements the same day amid the U.S.-Iran ceasefire.
Washington Examinerpolitics21 days ago
U.S. Lifts Some Iran Oil Sanctions Through August While Hormuz Remains Restricted and SPR Hits 43-Year Low
The Treasury Department issued a general license allowing Iran to sell crude oil and petroleum products through August 21. Vice President JD Vance said negotiations in Switzerland produced substantial advances during the 60-day period agreed last week.
thehindu.comworld21 days ago
Oil Tankers Continue Transit Through Strait of Hormuz After Interim Deal
Ship traffic through the Strait of Hormuz has continued after an interim U.S.-Iran agreement. Data from multiple tracking firms show dozens of vessels, including oil and LNG tankers, moving through the waterway in recent days.
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Substrate placeholder — needs reviewworld21 days ago
Oil flows through Strait of Hormuz stay below normal levels
Traders continue to monitor U.S.-Iran tensions even as some market participants identify a potential reduction in risk. Oil transit volumes through the Strait of Hormuz have not returned to usual rates.
The Sydney Morning Heraldbusiness21 days ago
China Oil Imports Cut by One-Third During Iran Conflict
China reduced daily oil imports by roughly one-third while the Strait of Hormuz was closed. State-owned energy companies kept large stockpiles and did not draw on strategic reserves. The import slowdown helped ease global price pressure during the conflict.
newser.comfinance22 days ago
Brent crude futures rise above $81 a barrel after U.S.-Iran truce
Brent crude futures climbed more than $1 a barrel to $81.66 by 22:06 GMT Sunday. Markets assessed the effect of the recently signed U.S.-Iran agreement on oil supplies.
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thehindu.compolitics22 days ago
Iran threatens to close Strait of Hormuz again while U.S. reports more tanker traffic and ongoing talks
Commercial traffic through the Strait of Hormuz rose on Saturday while Iran renewed threats to close the waterway. U.S. benchmark crude traded at about $75 per barrel on Monday, down slightly from late last week.
azernews.azpolitics22 days ago
U.S. President States Hormuz Strait Remains Open for Oil Shipments
The U.S. president posted on social media that the Strait of Hormuz is open and oil continues to flow. The statement follows recent regional tensions affecting maritime traffic through the waterway.
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etftrends.comfinance22 days ago
India Crude Price Rose from $69 to $114 per Barrel After Hormuz Closure as U.S. Became Top LNG Supplier
India’s weighted average crude price jumped after the Strait of Hormuz closed in March. The United States became its top LNG and LPG supplier while New Delhi reviews long-term energy plans.
politics23 days ago
Australia Petrol Prices Fall Below Pre-Conflict Levels After Middle East Supply Disruption
Petrol prices in Australia have dropped below levels recorded before the Middle East conflict began. Supply adjustments and government measures contributed to the decline.
foxnews.comscience24 days ago
U.S.-Iran Framework Lets Iran Resume Oil Sales Under Conditions That Can Be Revoked
President Trump signed the agreement this week. Iran’s oil and fuel exports could generate an estimated $60 billion annually under the deal.
rigzone.comfinance25 days ago
Asian Refiners Struggle to Book Tankers for Gulf Crude After Deal
PetroChina, Indian Oil, and Sinochem encountered high tanker rates and limited availability when seeking vessels to move Iraqi and Gulf crude to Asia. The companies cited costs nearly triple pre-conflict levels and uncertainty over transit terms.
Washington Examinerpolitics25 days ago
Oil Shipments Through Strait of Hormuz Reach 12.5 Million Barrels
Vice President JD Vance said 12.5 million barrels of oil passed through the Strait of Hormuz overnight. The U.S. Navy lifted its blockade, and the Federal Energy Regulatory Commission ordered six grid operators to review data-center connection rules.
New York Postfinance26 days ago
Traders Await U.S.-Iran Talks on Strait of Hormuz Access
Traders are monitoring upcoming talks between U.S. and Iranian officials scheduled for Friday in Switzerland. An initial agreement and 60-day cease-fire are expected to follow the meeting.
cryptoslate.comfinance27 days ago
Oil Falls Below $80 a Barrel on Deal to Reopen Strait of Hormuz
Crude prices dropped more than five percent Tuesday after reports that Washington may ease sanctions on Iranian oil as part of a peace agreement. Brent crude reached a three-month low under $79 a barrel while West Texas Intermediate fell 5.9 percent to $75.97.
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winnipegfreepress.comworld27 days ago
Republicans link potential Iran deal to lower gasoline prices
Republican lawmakers expressed hope that renewed talks with Iran could ease pressure on U.S. fuel costs. Analysts cited in the coverage note that any price relief may arrive after recent market shifts have already occurred.
theiranproject.comfinance28 days ago
U.S. and Iran Reach Framework Deal but Full Reopening of Strait of Hormuz Still Pending
Brent crude fell more than four percent Monday after officials announced a tentative deal. Implementation awaits a signing scheduled for Friday in Switzerland.
The Independentpolitics28 days ago
Oil prices fall after U.S.-Iran provisional deal opens Strait of Hormuz
Oil prices dropped following a provisional peace agreement between the United States and Iran that would reopen the Strait of Hormuz. The deal follows three months of disrupted shipping that raised U.S. gasoline prices above $4 per gallon.
Forbespolitics28 days ago
U.S.-Iran Framework Deal to Reopen Hormuz Faces Months of Delays and Lingering Regional Tensions
Oil prices dropped and Asian stock indexes rose after the United States and Iran reached a framework agreement to reopen the Strait of Hormuz and extend a ceasefire. Formal signing is scheduled for June 19 in Switzerland.
rediff.comfinance28 days ago
LNG Tanker Disha Clears Strait of Hormuz After U.S.-Iran Deal
An LNG carrier passed through the Strait of Hormuz on Monday, the first energy tanker to transit since the U.S. and Iran announced a deal to reopen the waterway. Oil prices fell after the announcement, with Brent Crude at $82 per barrel and WTI Crude below $80.
insidermonkey.comfinance28 days agoUpdated
U.S. Average Gasoline Price Falls to $3.99 per Gallon After Trump Announces Iran Agreement
The U.S. average price of regular gasoline dropped below $4 for the first time in months, reaching $3.99 per gallon after declining 9.3 cents last week and 52.4 cents over the past month.
Benzingafinance30 days ago
Brent Crude Falls to $84 as Traders Await Possible U.S.-Iran Deal
Brent crude traded at $84 per barrel on June 13, its lowest level since April 17. West Texas Intermediate crude reached $81 after three straight sessions of declines.
dnaindia.comfinance31 days agoUpdated
Jaishankar Says U.S. Asked India to Buy Russian Oil in 2022, Later Urged Cuts and Imposed Tariffs
Indian Foreign Minister S Jaishankar said the U.S. asked India to purchase Russian crude in 2022 to stabilize markets. Russia remains India's top oil supplier four years later.
indiatoday.intoday.inpolitics32 days ago
Trump Cancels Planned Strikes on Iran After Talks Approved
President Trump called off scheduled strikes on Iran after discussions with Iranian leadership reached the highest levels. Oil prices fell more than 3 percent on the announcement.
Forbespolitics32 days agoUpdated
U.S. and Iran Exchange Strikes for Second Day
U.S. forces targeted surveillance, communications and air-defense sites in three countries. Iran responded with missiles and warned it would close the Strait of Hormuz.
france24.comfinance34 days ago
Ex-IEA Chief: Hormuz Closure Triggers Third Oil Shock Centered on Asia, Accelerating Global Electrification
Former IEA chief Nobuo Tanaka warned that Asia will bear the brunt of the energy crisis caused by the closure of the Strait of Hormuz amid the war in the Middle East.
theiranproject.comfinance26 days agoUpdated
Iranian Official Says Hormuz Strait Will Reopen with New Transit Fees
Iran’s ambassador to Russia stated the Strait of Hormuz will reopen under new conditions set by Iran and Oman, including transit fees. Oil shipments through the waterway have fallen 90-95 percent since the war began on February 28.
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realclearmarkets.comfinance36 days ago
OPEC+ Agrees to Increase Oil Output by 188,000 Barrels Per Day
The core OPEC+ group agreed to increase production next month even as the Strait of Hormuz remains closed. The move is described as largely symbolic because most Gulf crude cannot reach buyers.
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rte.ieworld36 days ago
Hormuz Blockade Strands One-Fifth of Global Oil Supply as OPEC+ Approves Modest July Output Increase
Major OPEC+ members agreed to raise collective production quotas by 188,000 barrels per day for July. The increase remains largely symbolic because the Strait of Hormuz is closed, preventing most Persian Gulf exports from reaching markets.
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Bloombergworld37 days ago
Oil stays below $100 despite Strait of Hormuz shipping limits
Traders have kept crude prices under the $100 mark even after shipping through the Strait of Hormuz faced restrictions. Multiple alternative routes and supply adjustments are in use.
indianexpress.comfinance39 days ago
Saudi Energy Minister Calls for Stability in Global Oil Markets
Saudi Energy Minister Prince Abdulaziz bin Salman met with Russian Deputy PM Alexander Novak and urged stability in energy markets. Ongoing conflicts in Iran and Ukraine have disrupted supplies and raised oil prices.
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etftrends.comfinance39 days ago
Brent and WTI Crude Futures Fall More Than 3 Percent
Oil futures extended losses after reports of possible progress toward a U.S.-Iran agreement. Brent crude and West Texas Intermediate both declined over three percent in early trading.
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upi.compolitics40 days ago
Iran Launches Missiles and Drones at Kuwait Airport, Killing One
Kuwait reported one death and 63 injuries after Iran fired 13 missiles and 17 drones at its international airport. Iran said the attack targeted U.S. bases in retaliation for recent American strikes.
thehindu.comfinance41 days ago
China Crude Imports Fall 44 Percent in May Amid Iran Conflict
Chinese crude oil imports averaged 6.36 million barrels per day in May, down from 11.39 million barrels per day in February. Refiners drew on stockpiles estimated at one billion barrels to maintain processing levels.
france24.comfinance42 days ago
U.S. Forces Intercept Iranian Missiles Targeting Troops in Kuwait
Oil prices jumped after Iranian state media said Tehran would block the Strait of Hormuz. U.S. Central Command reported intercepting two Iranian ballistic missiles aimed at American troops in Kuwait.
naturalnews.compolitics42 days ago
House to Vote on Geothermal Bill as Oil Prices Rise After U.S.-Iran Tensions
The House of Representatives is scheduled to vote on a geothermal energy omnibus bill as soon as tomorrow. Oil prices increased after renewed strikes between the U.S. and Iran, then partially retreated following a statement from President Trump. California businesses must comply…
realitytea.compolitics42 days ago
Trump Maintains Iran Sanctions
The U.S. president stated that Iran’s decision to stop negotiations will not change U.S. policy. Officials said the blockade will continue and that falling oil prices are expected.
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nbcnews.comworld42 days ago
Iran Suspends Indirect Talks With U.S., Instructs Houthis to Act in Bab el-Mandeb Strait Amid Lebanon Fighting
Iran halted indirect negotiations with the United States and instructed Houthi allies to attack shipping in the Bab el-Mandeb strait. The moves follow Israeli strikes in Lebanon and recent exchanges of fire involving U.S. forces in Kuwait.