Oil prices rise 0.9% on Strait of Hormuz risks but drop 5.2% weekly as OECD stockpiles ease supply concerns. Brent crude oil prices climbed 0.9% to USD103.54 last Friday, driven by ongoing closure risks in the Strait of Hormuz. However, the benchmark fell 5.2% over the wee
Oil prices fall nearly 5.5% over four days as easing supply concerns weigh on markets amid US-Iran peace talks progress. West Texas Intermediate crude fell below $91.00 per barrel, extending its decline to a fourth consecutive session and trading near $90.80 in Asian hours
Oil prices fall as markets price in reduced supply risks from a potential US-Iran agreement reopening the Strait of Hormuz. West Texas Intermediate crude fell to $90.80 per barrel, extending a four-day decline amid rising hopes of a US-Iran agreement. The drop reflects eas
Oil benchmarks fell over 5% on Iran deal optimism Oil prices plunged in early Asian trade on Monday following reports of a potential deal to reopen the Strait of Hormuz. At the time of writing, Brent had broken back below $100 to trade at $98.27, while WTI fell to
Oil prices fall sharply on expectations the Strait of Hormuz may reopen, easing Middle East supply disruptions amid US-Iran talks. West Texas Intermediate crude plunged nearly 5% in early trading Monday, nearing the $90 mark, as renewed optimism over a potential US-Iran pe
Optimism over potential U.S.-Iran talks to reopen the Strait of Hormuz weighs on oil prices while lifting equity futures. Brent crude prices fell Monday as markets priced in rising odds of a diplomatic breakthrough between Washington and Tehran to reopen the Strait of Horm
A single crude carrier breached Iran’s Strait of Hormuz closure, delivering Iraqi oil to Asia while most shipments remain trapped. A very large crude carrier exited the Gulf of Oman into the Arabian Sea carrying 2 million barrels of Iraqi crude destined for China. The vess
Occidental Petroleum reported $1.06 per share in Q1, beating estimates of $0.59, despite hedging losses and delayed oil price benefits. Occidental Petroleum (OXY) posted first-quarter earnings of $1.06 per share, surpassing Wall Street expectations of $0.59. The beat came
US oil prices nearly double in 2026, driving key ETFs tracking futures to record highs amid Middle East tensions. West Texas Intermediate crude climbed from $57 to $112 per barrel in 2026, driven by Iran-related tensions around the Strait of Hormuz and a sustained geopolit
Plains All American Pipeline to restart unaffected portion Plains All American Pipeline (PAA) expects to restart the unaffected portion of an oil pipeline in East Los Angeles within hours. The pipeline was partially shut down following a rupture earlier in the day.
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