crude oil News Updates

China shares the goal of reopening the Strait of Hormuz with the U.S., though there was no sign of a breakthrough between the superpowers on how to achieve that.

Brent crude, the international standard, rose 3.3% to settle at $109.26 per barrel.

Abu Dhabi National Oil is accelerating the construction of a pipeline that runs to the port of Fujairah on the Gulf of Oman.

Nearly half of the crude oil released from the U.S. Strategic Petroleum Reserve is being exported, a fresh sign of how severely global supplies have tightened.

Brent crude, the international standard, fell 0.1% to $105.54 per barrel.

Flows of crude oil and fuels through the Strait of Hormuz fell by nearly 6 million barrels per day in Q1, the start of a seismic energy shock.

A broad group of industrial lubricants known as base oils, which are used to make motor oil, are in very short supply with no signs of easing on the horizon.

The price for a barrel of Brent crude slipped 0.9% to $106.84.

Brent crude, the international standard, climbed 3.3% to $107.66 a barrel.

American Trucking Associations, Truckload Carriers Association and National Tank Truck Carriers released a statement detailing their position on the proposal.