A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group.
A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group.
Tankers anchored in the Strait of Hormuz, in a photo from Iran’s ISNA news agency on May 2. Photographer: Amirhossein Khorgooei/AFP/Getty Images
Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year, as demand is forced to slow down to counter millions of barrels of supply losses caused by the US-Iran war.
Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year, as demand is forced to slow down to counter millions of barrels of supply losses caused by the US-Iran war.
Storage tanks at the Shell Haven aviation fuel terminal near Stanford-le-Hope, UK. Photographer: Chris Ratcliffe/Bloomberg
Oil extended declines for a third day as investors speculated on whether the US and Iran are closing in on a peace deal that could lead to a resumption of flows through the vital Strait of Hormuz.
Oil extended declines for a third day as investors speculated on whether the US and Iran are closing in on a peace deal that could lead to a resumption of flows through the vital Strait of Hormuz.
Oil plummeted after US President Donald Trump said the US is in the “final stages” with Iran, raising expectations for a near-term restart of energy flows through the critical Strait of Hormuz.
Oil plummeted after US President Donald Trump said the US is in the “final stages” with Iran, raising expectations for a near-term restart of energy flows through the critical Strait of Hormuz.
Oil storage tanks at the Rhone Energies SAS oil refinery in Fos-sur-mer, France, on Friday, March 20, 2026. The European Union’s energy chief has told member states to start filling gas storage early in order to avoid supply competition over the summer. Photographer: Jeremy Suyker/Bloomberg
Oil edged lower in choppy trading as investors weighed President Donald Trump’s newest threat to resume strikes on Iran, a pledge the US leader has made repeatedly before backing off since a truce was agreed to in early April.
Oil edged lower in choppy trading as investors weighed President Donald Trump’s newest threat to resume strikes on Iran, a pledge the US leader has made repeatedly before backing off since a truce was agreed to in early April.
Storage tanks at the Motiva Port Arthur Refinery in Port Arthur, Texas, US, on Tuesday, April 14, 2026. US natural gas futures ended lower for a fifth consecutive session, erasing earlier gains as traders weighed plunging oil prices against mixed weather outlooks.
Oil edged higher in choppy trading as fresh doubts emerged over the fate of peace negotiations between the US and Iran that could secure the reopening of the critical Strait of Hormuz.
Oil edged higher in choppy trading as fresh doubts emerged over the fate of peace negotiations between the US and Iran that could secure the reopening of the critical Strait of Hormuz.
The Well-Safe Guardian plug and abandonment rig, operated by Well-Safe Solutions Ltd, stands in the Port of Cromarty Firth during sunrise in Cromarty, U.K., on Tuesday, June 23, 2020. Oil headed for a weekly decline -- only the second since April -- as a surge in U.S. coronavirus cases clouded the demand outlook, though the pessimism was tempered by huge cuts to Russia's seaborne crude exports.
Oil steadied following a meeting between US President Donald Trump and Chinese leader Xi Jinping where discussions included the war in Iran and closer oil ties between the two nations.
Oil steadied following a meeting between US President Donald Trump and Chinese leader Xi Jinping where discussions included the war in Iran and closer oil ties between the two nations.
A pumpjack extracts oil near Crane, Texas, U.S., on Sunday, Jan. 30, 2022. Temperatures are forecast to plummet across the oil and natural gas producing areas of Texas later this week, threatening to impact production and the power grid. Photographer: Matthew Busch/Bloomberg
Flows of crude oil and fuels through the Strait of Hormuz fell by nearly 6 million barrels per day in the first quarter of 2026, the start of a seismic energy shock that has upended global supplies and sent prices surging.
Flows of crude oil and fuels through the Strait of Hormuz fell by nearly 6 million barrels per day in the first quarter of 2026, the start of a seismic energy shock that has upended global supplies and sent prices surging.
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