Brent crude started 2026 near $61 a barrel. Today it trades above $127 (spot price, not futures).
There's optimism on Wall Street that military operations in the Persian Gulf may be winding down, but oil markets remain on edge.
The Breakwave Tanker Shipping ETF (BWET) has surged more than 600% since the beginning of the year, vastly outperforming fundamental energy trades like crude oil, which is up around 60% in the same period. Rising tensions in the Strait of Hormuz caused by the U.S.-Iran war and disruptions to key maritime corridors have caused freight futures to skyrocket.
Exports of U.S. oil and gas have soared, but the U.S. will face obstacles turning wartime demand into a permanent boost
The gas price spike drove the University of Michigan's Index of Consumer Sentiment to the lowest level recorded in its over 73-year history. The index declined by 3.5 points in April, dropping to 49.8, amid the rising prices caused by the Iran war, according to the Surveys of Consumers' final results for April.
Two of the world's largest oilfield-services companies just said what pretty much no one in America wants to hear.
JPMorgan says oil prices are not reflecting reality, and demand destruction and higher U.S. pump prices are inevitable.
Oil rose for a fifth-straight day as the Strait of Hormuz remained shuttered and neither the U.S. nor Iran signaled a return to peace talks in the near term.
Brent crude futures rose back above $100 a barrel early Friday.
Dow slips slightly with Brent crude trading around $106
Indonesia will import 150 million barrels of crude oil from Russia this year, Deputy Energy Minister Yuliot Tanjung said on Friday.
Oil prices rose on Friday as investors stayed cautious despite a three-week extension of the Israel-Lebanon ceasefire. Israel and Lebanon agreed to prolong the truce following a meeting at the White House with senior U.S. officials, President Donald Trump said Thursday.