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.
Energy Market News
Latest news and analysis on oil, gas, and commodity markets
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.
Apr 3market
WTI crude flips above Brent for the first time in 15 years
WTI hit $112, overtaking Brent at $107. Traders are paying a security premium for US barrels that don't need to pass through the Strait of Hormuz.
Apr 2market
Oil surges 8% as five crisis points collide before April 6
Brent hit $109 and WTI topped $108 as Trump's deadline, a failed summit, Qatar's LNG collapse, and OPEC's meeting all converged in a single session.
Apr 2oil
35 nations, no America: UK hosts summit to reopen Hormuz
Britain convened 35 countries to discuss reopening the Strait of Hormuz. The US was not invited. Trump told allies to go get your own oil instead.
Apr 1analysis
$2 million to cross: how Iran turned Hormuz into a toll road
Iran's Revolutionary Guard charges ships up to $2 million to cross the Strait of Hormuz. Parliament just voted to make the fees permanent, creating a wartime revenue machine.
Mar 31oil
Trump threatens to seize or destroy Kharg Island, Iran's oil lifeline
Trump said the US could 'obliterate' Kharg Island, which handles 90% of Iran's crude exports. Oil spiked to $116 before settling back near $103.
Mar 30analysis
Diesel hits $5 as refineries go dark from Texas to the Persian Gulf
More than 4 million barrels of daily refining capacity is at risk. US diesel jumped 38% in two weeks, and fuel inventories are heading to their lowest since 2000.
Mar 30analysis
Oil futures say the crisis has an expiry date - here's what the curve shows
Brent's futures curve prices December crude at $85, a 26% discount to today. The market is betting the Hormuz crisis resolves well before year-end.
Mar 30oil
Houthis open second front, threaten to shut Bab el-Mandeb strait
Houthi missiles targeted Israel as the group warned it may close Bab el-Mandeb, threatening to block both major Middle East oil chokepoints at once.