West Texas Intermediate crude opened 2026 near $57 a barrel and spiked to almost $115 on April 7 after the Strait of Hormuz effectively closed to tanker traffic.
Crude oil has whipsawed traders in 2026 with a violence not seen in years. WTI bottomed at about $56 in early January, then ripped to nearly $115 by early April as the de facto closure of the Strait of Hormuz tightened global supply, before settling around around $96 by early June.
Aramco is considering expanding its global oil-storage network after the Iran war exposed the importance of strategic reserves in keeping crude flowing to customers.
U.S. energy shares fell in premarket trading on Monday as crude prices tumbled after Washington and Tehran reached an initial deal that could end the months-long conflict and reopen the vital Strait of Hormuz.
The current oil supply crisis shows there is underinvestment in oil refining as demand holds resilient, Saudi state-owned Aramco's vice president of market analysis and sustainability, Musaab Al Mulla, said on Tuesday.
Designed to provide broad exposure to the Energy - Exploration segment of the equity market, the iShares U.S. Oil & Gas Exploration & Production ETF (IEO) is a passively managed exchange traded fund launched on May 1, 2006.
The iShares U.S. Oil & Gas Exploration & Production ETF (NYSEARCA:IEO) just paid a $0.55 distribution in March, the lightest quarterly payment since mid-2024.
Crude is sitting at $112 a barrel, the 98th percentile of the past year, and the driver is clear.
U.S. energy storage developers installed 9.7 gigawatt-hours of new capacity in the first quarter of 2026, marking a record high for the quarter, an industry report showed on Thursday.
Ted Oakley of Oxbow Advisors says investors need more energy sector exposure, and his company owns everything from drillers to producers.
Q1 2026 adjusted net income rose by 26% year-on-year and by 34% quarter-on-quarter. The profit figure beat analyst forecasts, Aramco said.
Saudi oil giant Aramco reported on Sunday a 25% rise in first-quarter net profit, mainly due to higher sales, while the East-West crude pipeline that circumvents the Strait of Hormuz has reached its full capacity.