Iran News Updates

The price for a barrel of Brent crude oil, the international standard, sank 7.3% to $101.90, down from more than $115 early this week.

ACT Expo 2026 signaled momentum shifts in the clean transportation movement and growing acceptance of connected vehicle technology, AI and autonomous driving.

The shipments rose to 8.2 million barrels a day, according to data published May 6 from the U.S. Energy Information Administration.

Iranian media reported that shipowners need to send an email to an organization called the Persian Gulf Strait Authority if they want to send ships through the strait.

The price of a gallon of regular gasoline climbed 31 cents in the past week, spiking to an average of $4.48 per gallon on May 5, according to AAA.

U.S. gasoline inventories are on pace to drop to historical seasonal lows by late summer, further straining a tight fuel market upended by the war in Iran.

Marathon sent tankers on a range of routes in the Iran war's first months, taking advantage of supply disruptions for gasoline, diesel and jet fuel, executives said.

The price for a barrel of Brent crude, the international standard, fell 3.2% to $110.78.

The price of a barrel of Brent crude, the international standard, climbed 5.7% to $114.28.

But U.S. domestic inventories are quickly depleting, and America’s oil producers are struggling to keep up.