Apr 8market
800 ships race for Hormuz exit as ceasefire clock starts ticking
More than 800 vessels and 20,000 seafarers are trapped in the Persian Gulf with just two weeks to escape through a strait Iran still controls.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
Apr 8oil-prices
Oil plunges 16% in biggest crash since 1991 as ceasefire stuns market
WTI crude collapsed from $116 to under $94 after Trump and Iran agreed to a Pakistan-brokered two-week ceasefire. Hormuz set to reopen conditionally.
Apr 7oil-prices
Brent drops below $107 as ceasefire framework rattles oil bulls
Brent crude shed more than $5 from its intraday high as whispers of a 45-day ceasefire deal between Washington and Tehran ripped through trading desks hours before Trump's Tuesday deadline.
Apr 7oil
Trump warns a "whole civilization will die tonight" as deadline hits
Trump set an 8pm ET deadline for Iran to reopen the Strait of Hormuz. Iran told its youth to form human chains around power plants. Oil hit $116.
Apr 7analysis
US shale drillers eye $63 billion windfall as war doubles oil prices
With WTI near $114 and breakeven at $65, American producers are printing money. Continental Resources is first to ramp up. New supply is months away.
Apr 7market
Fuel rationing spreads from Slovenia to the Philippines
Slovenia caps fuel at 50 liters a day. Italy rations jet fuel at four airports. The Philippines just posted its 15th straight weekly diesel hike.
Apr 7oil
Israel strikes wipe out 85% of Iran's petrochemical exports
Israeli jets hit South Pars and Mahshahr in back-to-back strikes, halting 85% of Iran's petrochemical exports. Two IRGC commanders killed.
Apr 6oil
Iran rejects ceasefire as Trump shifts Hormuz deadline to Tuesday
Tehran dismissed a 45-day truce brokered by Pakistan, Egypt and Turkey. Trump extended his deadline to Tuesday 8pm, threatening strikes on power plants.
Apr 5opec
OPEC+ raises May quotas by 206,000 bpd but barrels have nowhere to go
OPEC+ approved a second 206,000 barrel-per-day increase, this time for May. With the Strait of Hormuz still shut, the extra barrels exist only on paper.
Apr 4opec
OPEC+ meets Sunday with oil above $110 - three scenarios at stake
The eight OPEC+ adjusters face their most consequential meeting since the alliance formed, with WTI at $111 and the Strait of Hormuz near shutdown.
Apr 3oil
US fighter jet shot down over Iran as war enters fifth week
An F-15E was shot down by Iranian forces on Thursday, the first US aircraft lost to enemy fire in the war. One crew member rescued, one missing.