Oil Surges Most Since 2020, Reflecting Bet That Strait Won't Go Back to Normal
International crude price climbed nearly 10% as President Trump said he would reimpose U.S. blockade.
Market Midday: Stocks Lower; U.S. Hormuz Blockade Sends Oil Higher • 7/13/26
The CNBC Business News Update with Jessica Ettinger features market numbers & news with CNBC expert analysis and sound from top business names. Updated throughout the business day.
Trump proposes 20% cargo fee as US vows to police Strait of Hormuz
President Donald Trump said on Monday that the United States would reinstate its naval blockade of Iranian ships and charge a 20% fee on cargo passing through the Strait of Hormuz, marking a major escalation in Washington's response to renewed conflict with Iran. The announcement came hours after another round of US strikes on Iranian targets and follows nearly a week of military exchanges between the two countries.
OPEC Further Cuts This Year's Oil Demand Forecast
The Organization of the Petroleum Exporting Countries further lowered its global oil-demand growth forecast for this year, as renewed fighting between the U.S. and Iran once again threatens crude flows and a recovery in Gulf production.
Markets Face Inflation, Oil, Fed Volatility This Week—Earnings Are Make or Break
Bank earnings set to reflect Wall Street's boom, SK Hynix stock tumbles, tariff inflation is waning, and more news to start your day.
Oil jumps more than 3% after US, Iran launch strikes in Mideast
Brent crude futures climbed to $78.68 a barrel.
The U.S. Is Both The World's Top Oil Producer And Top Consumer
The newly released 2026 Statistical Review of World Energy reinforces a point that sometimes gets lost in political discussions about energy: the United States remains the world's largest oil producer.
Trump says Strait of Hormuz open to commercial traffic
U.S. President Donald Trump said on Sunday that the Strait of Hormuz is open to commercial traffic, though the U.S. and Iran continue to trade attacks that have raised concerns over safety on one of the world's most important oil shipping routes.
‘Staggering': Goldman Sachs Says China's Oil Demand May Never Fully Recover
Fresh tanker attacks in the Strait of Hormuz prompted the US Treasury Department to revoke a waiver allowing Iranian oil sales, and WTI crude jumped more than 5% on the news.
Oil edges lower, but heads for weekly gain as Middle East supply risks persist
Oil prices fell in early trading on Friday but remained on track for weekly gains as the United States and Iran continued trading strikes.
Iraq will not leave OPEC but seeks fair output quota, PM says
Iraq will not leave OPEC, but is seeking a fair output quota within the oil producer group, Iraqi Prime Minister Ali al-Zaidi said in an interview with Saudi-owned Al Arabiya TV, according to his office.
Oil Prices Rise After Fresh U.S. Attacks in the Middle East
Government bonds across Asia-Pacific fell in price terms as the continued rise in crude oil prices fueled concerns over elevated inflation.
