oil prices News Updates

Brent crude, the international standard, dropped 10.5% to $88.96 per barrel. Benchmark U.S. oil tumbled 10.8% to $81.38 per barrel.

U.S. President Donald Trump and Iran’s foreign minister said April 17 that the Strait of Hormuz is now fully open to commercial vessels.

Requests to store distillate fuel in tanks with a railroad connection soared to 250,000 barrels in March, up from 30,000 barrels in February and none in January.

Oil prices climbed, showing that caution still remains in financial markets. The price for a barrel of Brent crude oil rose 5.1% to $99.74. 

The DAT report found spot van rates increased 11 cents sequentially to $2.52 per mile, while reefer rose 9 cents to $2.97 per mile. 

Fatih Birol warns of possible flight cancellations soon if oil supplies remain blocked by the Iran war.

The price for a barrel of Brent crude, the international standard, added 0.9% to $95.64. That’s still well above its roughly $70 price from before the war.

Industrial metals have been whipsawed since the Middle East war erupted at the end of February. They were initially hit by fears of soaring energy costs.

The price for a barrel of Brent crude oil, the international standard, fell 3.8% to $95.56. That’s still above its $70 level from before the war.

The Labor Department reported that its producer price index rose 0.5% from February and 4% from March 2025. Energy prices surged 8.5% from February.