Drone view of oil tanker HELGA berthed at one of Iraq’s southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. Mohammed Aty | Reuters President Donald Trump’s plan to impose a 20% fee on…
The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. Asghar Besharati | Getty Images Oil prices tumbled after President Donald Trump said the U.S. has completed a deal with Iran to reopen the Strait of Hormuz. U.S. crude oil futures for July…
Keir Starmer, UK prime minister, left, works with Sanae Takaichi, Japan’s prime minister, at 10 Downing Street in London, UK, on Sunday, June 14, 2026. Andy Rain | Bloomberg | Getty Images World leaders welcomed the U.S.-Iran agreement to end the Middle East war, with some European nations reportedly signaling they were prepared to lift…
Cracking towers stand beside access roads at the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co. (ADNOC), in Al Ruwais, United Arab Emirates. Bloomberg | Bloomberg | Getty Images Oil markets are nearing minimum operating levels in Asia, with Europe likely next and the U.S. potentially facing shortages by July, said…
Global oil inventories are falling at a record pace to compensate for the big supply disruption in the Middle East and they will approach critical levels if the Strait of Hormuz does not reopen. Higher prices for oil and fuel are likely ahead of peak demand this summer as a consequence, the International Energy Agency…
Traders are embracing the “NACHO” trade, a new Wall Street acronym for “Not A Chance Hormuz Opens.” as investors grow skeptical the Strait of Hormuz crisis will end soon. Maica | Istock | Getty Images Move over TACO trade. Traders now have a new acronym for a market increasingly skeptical that the Strait of Hormuz…
The Shell gas logo is displayed at a gas station on April 27, 2026 in Austin, Texas. Brandon Bell | Getty Images British energy major Shell on Thursday reported stronger-than-expected first-quarter profit as the Iran war sent energy prices soaring. The oil giant posted adjusted earnings of $6.92 billion for the first three months of…
Exxon Mobil CEO Darren Woods warned Friday that the market has not absorbed the full impact of the unprecedented oil supply disruption triggered by the Iran war and the closure of the Strait of Hormuz. The disruption has been mitigated by the large number of loaded oil tankers that were in transit during the first…
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 16, 2026. Jeenah Moon | Reuters Global markets are entering the week balancing resilient risk appetite against renewed geopolitical strain as prospects of U.S.-Iran negotiations took a hit over the weekend. U.S. President Donald Trump scrapped…
Two boys paddle-board in the sea as ships are anchored near the shoreline on April 22, 2026 in Bandar Abbas, Iran. Stringer | Getty Images Baker Hughes is working under the assumption that the Strait of Hormuz may not fully reopen for months, a senior executive at the influential oilfield services firm said Friday. Baker…
