Crude

International oil prices surged after President Trump dismissed Iran’s proposal to end the war. The Strait of Hormuz, the world’s most critical oil shipping route, remains effectively closed, continuing to disrupt global energy supply chains. BBC reports that the disruption to this strategic waterway is severely impacting global energy transportation. The strait handles roughly 20% of global LNG trade and vast quantities of crude oil, and its closure has directly pushed up Brent and WTI crude prices. ...

Oil prices pulled back Tuesday after Brent crude surged nearly 6% the previous day, as traders weigh escalating Iran tensions against ceasefire prospects.

Multiple international oil company CEOs warn at industry conference that the Hormuz Strait crisis and global supply chain tensions are pushing energy markets to a critical tipping point, with supply disruption risks rising sharply.

Brent crude briefly surged above $126 per barrel, the highest since 2022, after reports the US military will brief Trump on new strike options against Iran.

Brent crude surged to over $126 a barrel, the highest since Russia’s 2022 invasion of Ukraine, after reports the US military will brief Trump on new plans for potential strikes on Iran.