West Texas Intermediate crude started 2026 at $57 a barrel and now trades near $112, a near-doubling driven by Iran-related tensions around the Strait of Hormuz and a sustained geopolitical risk premium on seaborne barrels.
For most Americans, Memorial Day weekend is supposed to mark the unofficial start of summer — backyard cookouts, packed highways, beach trips, and family gatherings.
There's a new warning from the commodity market about the risks of a delayed reopening of the Strait of Hormuz.
Oil prices were rising early Friday as energy markets pointed to growing doubts over whether the U.S. and Iran will reach a deal to end the war.
Stock futures gained as investors seized on signs that diplomatic efforts to end the U.S.-Iran war were progressing.
Oil rose in early Asian trade amid high Middle East tensions that could keep supply disruptions elevated.
Iran's Supreme Leader Ayatollah Mojtaba Khamenei reportedly issued a directive that near-weapons-grade uranium in the country should not be sent abroad. International Energy Agency chief said oil markets could enter a "red zone" soon as global stocks dwindle.
U.S. crude futures rose more than $1 in early trade on Friday as investors doubted the prospects of a breakthrough in U.S.-Iran peace talks, with the two countries stuck in opposing stances over Tehran's uranium stockpile and controls on the Strait of Hormuz.
Crude oil rallies slightly in the early part of the session on Thursday, as the back and forth is a feature of this market, not a “bug.”
Coastal Africa Group, a newly incorporated company focused on oil and gas acquisitions across West Africa, has announced its intention to float on AIM in early June. The company will list as an investing vehicle with a mandate to make an initial acquisition within 18 months, after which it will become an operating company.
Physical supplies of oil through the Strait of Hormuz are 95% below regular levels.
President Donald Trump said Iran negotiations were in their "final stages."