Commercial vessels and oil tankers preparing to transit through the Strait of Hormuz, one of the most critical strategic waterways for global trade flows, maintain their wait in the Gulf of Oman, on June 17, 2026. Shady Alassar | Anadolu | Getty Images Oil rose slightly early Tuesday, fluctuating as investors show cautious optimism about…
The U.S. on Monday authorized Iranian oil sales through August after “productive talks” between Tehran and Washington in Switzerland over the weekend, Treasury Secretary Scott Bessent said. “As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil,” Bessent said in a post on…
At least 20 oil tankers have crossed the Strait of Hormuz since the U.S. and Iran began to reopen the sea lane to commercial ship traffic, according to the trade intelligence firm Kpler. Tanker transits on Thursday hit the highest level since June 2, the firm said. However, traffic is still below prewar levels when…
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. Stringer | Reuters It will take weeks to clear the backlog of ships in the Strait of Hormuz, industry executives and shipping experts have warned, as the critical waterway is set to reopen. Oil prices initially dipped below $80 per barrel…
The oil supply shock caused by the Iran war has eroded global demand for crude — but a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year, the International Energy Agency said on Wednesday. In its latest monthly oil market report, the IEA slashed…
In this screen grab from a video released by U.S. Central Command, U.S. forces operating in the Arabian Sea enforced naval blockade measures against an Iranian-flagged cargo vessel attempting to sail toward an Iranian port on April 19, 2026 in the Arabian Sea. U.S. Central Command | Getty Images At least three Iranian tankers carrying…
President Donald Trump on Tuesday signaled that he’s open to sending details of the agreement with Iran to members of Congress, as lawmakers from both parties are raising questions, asking to see the accord and saying they should vote on any final deal. Arriving at a bilateral meeting in France with United Arab Emirates President…
A motorist gets gas at a Shell station in Miami on April 13, 2026. Joe Raedle | Getty Images Investors cheered the prospect of a U.S.-Iran peace deal on Monday, but oil price volatility is likely to continue in the near term, as analysts warned that energy markets now face a “geopolitical risk premium” after…
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…
President Donald Trump speaks during a Cabinet meeting in the Cabinet Room at the White House, in Washington, May 27, 2026. Evan Vucci | Reuters President Donald Trump this week said a sweeping peace deal with Iran could be signed very soon, echoing dozens of similar claims he has made over nearly three months. The…
