Iran News Updates

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

Spot and contract rates edged higher during the quarter, while many carriers sharpened their focus on internal efficiency and operational improvements.

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.

President Donald Trump said he would prioritize trade discussions over the Iran war during his summit with Chinese counterpart Xi Jinping.

Speaker Mike Johnson called suspending the federal gas tax “an intriguing idea” but didn’t commit to a timeline as momentum builds to take action.

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