The price of futures contracts of Brent crude oil for September 2026 delivery on London’s ICE has risen above $87 per barrel for the first time since June 12, 2026, according to trade data.
A senior Yemeni official has warned that the country's armed forces are prepared to close the Bab al-Mandeb Strait, sending oil prices soaring to $200 a barrel, if Saudi Arabia persists in its aggression against Yemen's critical infrastructure, PressTV reported.
Oil prices remained firmly higher on Monday despite retreating from an early rally of almost 5%, with investors continuing to assess the potential impact of renewed military tensions between the U.S. and Iran on global crude supplies.
Brent crude oil prices increased significantly during today's trading session, surpassing the $80 per barrel threshold.
The price of futures contracts of Brent crude oil for September 2026 delivery on London’s ICE has risen above $79 per barrel for the first time since June 23, 2026, according to trade data.
Saudi Arabia has reduced its oil export prices to Asian buyers by $11 per barrel for August, marking a 25-year low, according to media reports.
OPEC’s crude oil production surged last month as Persian Gulf members restored exports through the Strait of Hormuz amid a peace accord between the U.S. and Iran.
Oil prices moved lower on Thursday as investors weighed improving prospects for crude supplies from the Middle East against the persistent geopolitical risks that continue to shape the energy market.
U.S. President Donald Trump demands that companies engaged in retail gasoline sales in the United States immediately reduce prices and warns them of serious consequences otherwise.
Oil prices have fallen to levels last seen before the start of the Iran war as tankers begin passing through the Strait of Hormuz.
U.S. President Donald Trump expressed his dissatisfaction with oil prices not falling fast enough in his country as he authorized a probe into this situation.
The price of futures for WTI oil for delivery in August 2026 decreased by 3.81% to $77.67 per barrel
U.S. President Donald Trump revealed that the U.S. has been taking out oil from Iran amid the ongoing war, while adding that this is why crude oil prices are at $85 a barrel, not $250.
Global oil prices could rise by another approximately $100 per barrel under new restrictions on Russian oil and exceed $250 per barrel, Executive Secretary of the presidential commission on fuel and energy sector development strategy and environmental security and Rosneft CEO Igor Sechin said.
According to media reports, the EU's price cap on Russian oil may be frozen amid the ongoing blockade of the Strait of Hormuz.
Oil prices fell around 3% on Wednesday as traders weighed up progress in U.S.-Iran peace talks against renewed hostilities.
The spokesperson for the Khatam al-Anbiya Central Headquarters has suggested that oil prices could climb to $200 per barrel as a result of the ongoing conflict in the region.
The global energy crisis triggered by the Middle East conflict is entering a new phase as the summer season approaches, the Financial Times reported, citing sources.
U.S. President Donald Trump said he will make a decision over the next few days about lifting sanctions on Chinese oil companies that buy Iranian oil.
The International Energy Agency (IEA) has raised its forecast for global oil supply in 2026 by 2.5 mln barrels per day (bpd) compared with its previous report, according to the organization’s latest report. As a result, global oil supply this year is expected to fall by 4 mln bpd to 102.2 mln bpd.
