An oil tanker is being pictured in the Persian Gulf near the seaport city of Bushehr, in Bushehr Province, southern Iran, on April 29, 2024. Morteza Nikoubazl | Nurphoto | Getty Images For years, China has been buying discounted Iranian oil in bulk, and the U.S. sanctions on Tehran have barely put a dent in … Read more
Oil prices fell sharply Tuesday after President Donald Trump said China can keep buying oil from Iran, a sign that the U.S. is easing its maximum pressure campaign on the Islamic Republic in the wake of a ceasefire with Israel. Global benchmark Brent fell $3.33, or 4.66%, to $68.15 per barrel by 10:18 a.m. ET. … Read more
Brent crude prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but they were still poised for a third straight week in the black. Ilan Rosenberg | Reuters Oil futures fell sharply on Tuesday as a freshly … Read more
It’s called the world’s most critical oil choke point — and Iran holds the power. Washington’s strikes on Iran stoked fears that Iran could retaliate by closing the Strait of Hormuz, a waterway between Iran and Oman through which around 20 per cent of the oil and gas consumed globally flows. Oil prices tumbled Monday after Iran’s initial retaliation didn’t appear to … Read more
U.S. benchmark oil prices were only marginally higher Monday morning, an outcome that reflects investors shifting into wait-and-see mode as they take stock of Iran’s response to U.S. strikes on its nuclear facilities. The 0.2% gain in West Texas Intermediate crude futures, to less than $74 a barrel, reflected a significant overnight pullback from the … Read more
Oil prices jumped more than 7% on Friday, hitting their highest in months after Israel said it struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Eli Hartman | Reuters Oil markets are entering a new phase of uncertainty after the U.S. entered the war between Iran and … Read more
Oil prices jumped and stock futures slipped Sunday evening, indicating concern among investors about the possibility of economic fallout from the ongoing unrest in the Middle East following U.S. strikes against Iran’s nuclear facilities. The major focus is on oil. Iran remains a major international oil supplier, and it also sits on the Strait of … Read more
Oil futures jumped 3% at the start of the first trading session since the U.S. launched direct attacks against Iran, casting further shadow over the supply outlook in the embattled oil-rich Middle Eastern region. U.S. crude oil on Sunday evening rose $2.30, or 3.1%, to $76.14 per barrel, while global benchmark Brent jumped $2.38, or … Read more
Senior Israeli officials said this week that their military campaign against Iran could trigger the fall of the regime, an event that would have enormous implications for the global oil market. The oil market has reacted with remarkable restraint as Israel has bombed the third-largest crude producer in OPEC for eight straight days, with no … Read more
Smoke blankets the sky above Tehran, Iran, following explosions in the capital after the Israeli army hit Iranian targets, on June 18, 2025. Anadolu | Anadolu | Getty Images Oil prices rose by about 3% on Thursday, after Prime Minister Benjamin Netanyahu ordered Israel’s military to intensify attacks against Iran and investors watched for signs … Read more