Oil Climbs Above $79 as Fresh US-Iran Strikes Revive Hormuz Supply Risks
Oil rose 4% above $79 as US-Iran strikes revived fears over Hormuz supply risks, boosting geopolitical risk premiums despite no shipping disruption.
Follow oil and gas with Brent and WTI moves, OPEC signals, and supply-demand drivers.
Shell Signals Stronger Q2 Performance as Refining and Chemicals Margins Improve
Shell expects stronger second-quarter performance as refining margins, chemicals profitability and energy trading improve ahead of earnings.
Saudi Arabia Reprices Its Crude as Global Oil Market Shifts From Supply Shock to Buyer Competition
Saudi Arabia cut August crude prices as Gulf exports recovered, OPEC+ raised output and competition for Asian buyers intensified sharply.
Shell Forecasts Global LNG Demand to Surge 65% by 2050 Despite Middle East Disruptions
Shell expects global LNG demand to reach nearly 700 million tonnes by 2050 despite ME disruptions, as energy security drives long-term investments
IEA Sees Global Oil Market Shifting Toward Surplus in 2027 Despite Record Inventory Drawdowns
The IEA expects global oil supply to outpace demand in 2027 as Middle East output recovers, despite record inventory draws during 2026.
Oil Rebounds Nearly 2% as Tanker Incident Renews Strait of Hormuz Concerns
Oil climbed nearly 2% after a tanker incident near Oman revived concerns over shipping through the Strait of Hormuz.
Oil Drops Below $70 as Middle East Supply Fears Ease, While Fuel Markets Remain Tight
Oil fell below $70 a barrel as Hormuz traffic resumed and US-Iran talks progressed, while diesel and heating oil markets remained relatively tight.
Brent Falls Below $77 as US-Iran Progress Eases Oil Supply Fears
Brent crude fell below $77 per barrel as progress in US-Iran talks and a temporary waiver for Iranian oil eased global supply concerns.
Oil Falls More Than 3% After US Temporarily Allows Sales of Iranian Crude
Oil prices fell more than 3% after the US temporarily allowed Iranian oil production and sales, boosting expectations of higher global supply.
Iraq Moves to Restore Oil Output Above 3 Million Bpd After US-Iran Deal Reopens Hormuz
Iraq ordered major oil fields to return to prewar production levels above 3 million bpd after the US-Iran deal to reopen the Strait of Hormuz.
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