Strait of Hormuz News Updates

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. 

Gasoline prices have climbed during the Iran conflict, drawing political scrutiny in a midterm election year and intensifying calls for clarity on policy.

Transportation Secretary Sean Duffy revealed April 13 that officials from PHMSA visited the pipeline site to oversee safety operations.

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

The U.S. and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter.

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.

Trukker, a UAE-based business, experienced a 30% increase in its road shipments in March based on full truckloads.

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.

Brent crude, the international standard, rose back to $100.49 per barrel and is well above its roughly $70 price from before the war.

Output collapsed by 7.88 million barrels a day to 20.79 million a day in March, driven by losses in Iraq, Saudi Arabia, the United Arab Emirates and Kuwait.