May 28hormuz
First tankers cross Hormuz in three months as Iran plays gatekeeper
A handful of oil and LNG tankers crossed the Strait of Hormuz in late May after three months of near-total blockade. Iran is controlling who passes and how.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
May 27oil-prices
US strikes Iran over the weekend and oil drops another 4%
WTI fell below $90 for the first time since April after US forces hit Iranian targets. The market read the strikes as deal pressure, not escalation.
May 25oil-prices
Oil inventories drain at record pace while prices crash on deal hopes
Global oil stocks are falling at 8.5 million barrels per day in Q2, the fastest draw ever recorded. Yet crude has dropped 16% in a month on Iran deal optimism.
May 25oil-prices
WTI crashes to $91 as US and Iran close in on Hormuz deal
WTI fell 6% to $91.13 and Brent dropped below $98 after Washington and Tehran outlined a framework to extend the ceasefire and reopen the Strait of Hormuz.
May 20oil-prices
WTI breaks below $100 as Trump predicts oil will 'plummet'
WTI fell 9% to $98.57, its first trip below $100 since the war began. Trump predicted prices would plummet, and the Senate voted to limit his Iran war powers.
May 19iran-war
Trump calls off Iran strike as Gulf leaders push for talks
Trump shelved a planned Iran strike after Gulf allies asked for 2-3 more days. Brent swung from $112 to $111 as Iran sent a 14-point peace proposal.
May 17wti
WTI rolled to July and stripped another $4.40 from the headline
The June WTI contract expires Tuesday. We now quote July at $101.02, down $4.40 from the expiring month. The curve is steeper than last time.
May 13oil-prices
Why Brent is at $107 and not $150 after ten weeks of Hormuz closure
Analysts predicted $150 oil if Hormuz shut down. Ten weeks in, Brent sits at $107. China's strategic reserves, low starting prices, and stubborn deal optimism explain the gap.
May 10oil-prices
US gasoline hits $4.55 a gallon with $5 likely by Memorial Day
The national average jumped 25 cents for the second straight week to $4.55, up 53% since the war began. Analysts warn $5 is coming before the holiday weekend.
May 7iran-war
Brent back above $103 after US Navy fires on Iranian oil tanker
Brent crude jumped back above $103 after a US Navy jet disabled an Iranian oil tanker in the Gulf of Oman, rattling deal hopes as Iran's response deadline arrives.
May 7oil-prices
Brent below $97 as oil drops $17 in four days and Iran mocks deal talk
Brent fell to $97.42 on Thursday, down $17 from Monday's peak. Iran's parliament speaker mocked deal reports as "Operation Fauxios." Tehran's response is due today.