oil market
16 stories related to this topic, newest first.
ForbesGold and Silver Prices Plunge After Recent Highs as Oil Rises
Silver fell more than 10 percent to $76.69 on May 15, 2026, days after nearing $90. Gold dropped over 3 percent to $4,542.90 while Brent crude rose above $108. Analysts cited inflation concerns and potential Federal Reserve rate hikes.
The HillEnergy Secretary Wright Declines to Predict Gas Prices as National Average Hits Record High
Energy Secretary Chris Wright said he cannot make predictions about oil or gasoline prices during a Sunday interview. The average cost of gas has reached its highest point amid the war in Iran. Wright stated the U.S. remains in a tremendous position despite the rise.
BenzingaU.S. Stocks Rise as Crude Oil Gains 1 Percent
U.S. stocks traded mostly higher on Friday with the Nasdaq Composite up 1.5 percent. Fluor shares fell sharply after the company reported first-quarter earnings and revenue that missed analyst estimates. Westrock Coffee and Innodata shares rose after posting stronger-than-expecte…
rte.ieChina Cuts Oil Imports
China has been quietly cutting its crude oil imports in recent weeks, a development that is helping to rebalance the global crude market. The move comes as bullish traders shift from arguing that paper markets are disconnected from reality to acknowledging weakness in physical de…
nationalpost.com**U.S. Forces Destroy Six Iranian Boats as 1,500 Ships Remain Trapped in Gulf**
Shell CEO Wael Sawan said the global oil market faces a shortage of nearly one billion barrels due to the Iran conflict and blockade of the Strait of Hormuz. The deficit is deepening daily as lost production and locked-in barrels accumulate, with recovery expected to take months…
livemint.comGlobal Oil Liftings Recover to Pre-War Levels Driven by Surge in Americas
Global oil liftings into tankers have returned to their pre-war levels, according to a 7-day moving average chart from Vortexa. The recovery stems from increased liftings in the Americas. This data highlights a rebound in global oil movements as of May 5, 2026.
slashgear.comRising Gas Prices Unlikely to Yield Major Car Insurance Savings, Insurify Reports
A report from Insurify indicates that even if drivers reduce mileage due to higher gas prices, car insurance savings would be minimal. Gas prices have increased to around $4 per gallon amid conflict in the Middle East and a U.S. military blockade of the Strait of Hormuz. The anal…
Substrate placeholder — needs reviewRussian Officials Address Potential OPEC+ Proposals on Shipping Route Closure
Russian officials stated that Russia continues its oil supplies amid declining oil volumes on the market. This response addresses possible proposals to OPEC+ regarding the closure of a key shipping route. No other initiatives are currently in place, according to the report.
pakistantoday.com.pkIran Conflict Reaches 50 Days, Removing 500 Million Barrels of Oil from Global Market
A war involving Iran has endured for 50 days, resulting in $50 billion in lost oil value. An estimated 500 million barrels of oil have failed to reach the market due to the conflict. The disruption is affecting South oil demand.
Substrate placeholder — needs reviewIran War Has Removed Over 500 Million Barrels of Oil from Global Supply Since February
The Iran War, which began on February 28, has led to the removal of more than 500 million barrels of crude and condensate from the global market. This disruption is described as the largest in modern history. All details stem from reports by @KobeissiLetter.
Substrate placeholder — needs reviewOfficials Warn of Potential Worsening Oil Market Impact in April Compared to March
International officials have warned that the oil market impact in April could exceed that of March. Factors include tankers leaving the Gulf region that may not return and some countries stockpiling oil. This comes amid ongoing global energy supply concerns.
Substrate placeholder — needs reviewTrader Incurs Losses from Ethereum Sale and Oil Position
A trader sold 499.9 ETH for $1.1 million at $2,197 per ETH, resulting in an $82,500 loss as the price later increased. The trader then entered a long position in oil, which declined and led to a $536,000 loss. These transactions occurred at a time when market conditions shifted u…
ibtimes.co.ukVitol Trading Team Incurs Several Hundred Million Dollar Loss in Oil Market Bets Early in Iran War
A team at Vitol, led by a trader, reported a loss of several hundred million dollars from oil market positions early in the Iran war. The loss resulted from bets that did not perform as expected, according to people familiar with the matter. This incident highlights risks in comm…
Substrate placeholder — needs reviewOil Market Sees Increased Competition for Cargoes Amid Iranian Ceasefire Focus
Investors have directed attention to the Iranian ceasefire this week, while activity in the oil market involves efforts to secure cargoes. The ceasefire follows recent regional tensions. This situation occurs against a backdrop of global oil supply dynamics.
Substrate placeholder — needs reviewGas Prices Decrease in Maritime Provinces for First Time Since Late February
Gas prices in the Maritimes fell on Saturday for the first time since late February. Minimum prices dropped by up to 8.4 cents per litre across Nova Scotia, New Brunswick, and Prince Edward Island. The decline occurs amid stalled shipping in the Strait of Hormuz due to the war in…
Substrate placeholder — needs reviewCommodity Analyst Discusses Global Oil Market Amid US President's Iran Deadline
Philip Jones-Lux, senior analyst at Sparta Commodities, addressed the global oil market in relation to President Trump's deadline on Iran. He described the potential oil supply shock as unprecedented in scale. The discussion highlights ongoing tensions affecting energy markets.