The Latest Breaking News from Oil

Blockage of strait of Hormuz, through which about 25% of world’s oil passes, could shock energy market, says Wael Sawan

UK central bank split 6-3 on interest rate decision, and warns that escalating Middle East conflict is pushing up energy prices

Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite US inflation and dampen economic growth, while oil prices edged down as investors awaited developments in the Israel-Iran conflict.

The Federal Reserve’s quarterly projection included lower growth and higher inflation; the Fed also maintained its previous expectation of two interest rate cuts.

July WTI crude oil (CLN25 ) Wednesday closed up +0.30 (+0.40%), and July RBOB gasoline (RBN25 ) closed up +0.0367 (+1.62%). Crude oil prices whipsawed Wednesday in volatile trade and finally settled higher. Concern about escalation of the Israel-Iran war boosted crude prices Wednesday after Iran's Supreme Leader Ayatollah Ali...

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptions, says Guardian columnist Larry Elliott

The unexpected attack by Israel on Iran, a major oil-producing nation, may undermine anaemic global economic growth and hinder central banks’ ability to cope in an already uncertain market.

The oil price fluctuated, with the Israel-Iran conflict entering its sixth day.

July WTI crude oil (CLN25 ) today is down -1.06 (-1.42%), and July RBOB gasoline (RBN25 ) is down -0.0054 (-0.24%). Crude oil prices today gave up an early advance and turned lower on signs that the conflict between Israel and Iran could de-escalate after President Trump said Iran reached...