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Oil Creeps Lower as Traders Weigh Trump’s Threats to Strike Iran

18 May 2026 at 22:01
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 Rises on Doubts Over US, Iran Stance to End Conflict

17 May 2026 at 22:04
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.
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