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.
Oil slipped in volatile trading as traders awaited a pivotal meeting between US President Donald Trump and Chinese counterpart Xi Jinping, while fresh US data suggested stockpile have yet to drop to critical levels.
Oil slipped in volatile trading as traders awaited a pivotal meeting between US President Donald Trump and Chinese counterpart Xi Jinping, while fresh US data suggested stockpile have yet to drop to critical levels.
The Valero 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. Photographer: Mark Felix/Bloomberg
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