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The Latest Breaking News from OPEC

Why are oil prices up today, and will Brent crude futures and US WTI rates rise sharply in near future? Oil rises as supply fears return

Why are oil prices up today, and will Brent crude futures and US WTI rates rise sharply in near future? Oil prices increased as hopes for a peace deal faded and supply fears returned. The Strait of Hormuz risk, lower OPEC output, falling US crude stocks, and US-China tensions pushed…

The Economic Times

Oil prices rise as fragile US-Iran talks sustain supply worries

Oil prices edged up in early Asian trade as fragile U.S.-Iran negotiations highlighted supply concerns, with Tehran's response revealing significant differences. Disruptions through the Strait of Hormuz and OPEC's reduced output further fueled price stability above $100, while U.S. SPR loans and sanctions on Iranian oil shipments aimed to temper…

The Economic Times

Strait of Hormuz Closure Pushes Crude Prices Higher

June WTI crude oil (CLM26 ) on Monday closed up +2.65 (+2.78%), and June RBOB gasoline (RBM26 ) closed up +0.0731 (+2.07%). Crude oil and gasoline prices settled sharply higher on Monday after President Trump rejected Iran's response to his latest peace proposal, which prolongs the closure of the Strait...

Barchart

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Current price of oil as of May 11, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Iran wants oil tariffs paid in Chinese yuan – is the power of the US petrodollar in decline?

After weeks of blockades by Iran and the United States in the Strait of Hormuz, it’s clear the narrow waterway is now pivotal to the outcome of the conflict.

The Conversation

Crude Oil Recovers as US May Restart Operations to Reopen the Strait of Hormuz

June WTI crude oil (CLM26 ) on Thursday closed down -0.27 (-0.28%), and June RBOB gasoline (RBM26 ) closed down -0.0033 (-0.10%). Crude oil and gasoline prices closed lower on Thursday on optimism that a US-Iran peace deal is imminent. The markets await further updates after the US presented a...

Barchart

Crude Oil Prices Pressured by Iran Peace Hopes

June WTI crude oil (CLM26 ) today is down -3.36 (-3.53%), and June RBOB gasoline (RBM26 ) is down -0.0862 (-2.49%). Crude oil and gasoline prices are sharply lower for a second day today on optimism that a US-Iran peace deal is imminent. The markets await further updates after the...

Barchart

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Current price of oil as of May 7, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Sink on Improved Iran Peace Prospects

June WTI crude oil (CLM26 ) on Wednesday closed down -7.19 (-7.03%), and June RBOB gasoline (RBM26 ) closed down -0.1613 (-4.46%). Crude oil and gasoline prices plummeted on Wednesday, with crude falling to a 2-week low and gasoline sliding to a 1-week low. Optimism that a US-Iran peace deal...

Barchart

Crude Oil Prices Plummet on Optimism of US-Iran War to End

June WTI crude oil (CLM26 ) today is down -7.13 (-6.97%), and June RBOB gasoline (RBM26 ) closed down -0.1780 (-4.92%). Crude oil and gasoline prices are plunging today, with crude falling to a 2-week low and gasoline sliding to a 1-week low. Optimism that a US-Iran peace deal is...

Barchart

US Gas Prices Have Jumped 50% Since Beginning Of Iran War As Supply Shock Pushes Costs Higher

The International Energy Agency described the situation as one of the most severe disruptions to global oil markets in recent history.

International Business Times

Current price of oil as of May 6, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Retreat as Middle East Tensions Ease

June WTI crude oil (CLM26 ) on Tuesday closed down -4.15 (-3.90%), and June RBOB gasoline (RBM26 ) closed down -0.1176 (-3.15%). Crude oil and gasoline prices settled sharply lower on Tuesday as the ceasefire in the Middle East appears to be holding, easing geopolitical risks. Crude prices retreated as...

Barchart

Crude Oil Prices Tumble as Middle East Ceasefire Holds

June WTI crude oil (CLM26 ) today is down -4.54 (-4.27%), and June RBOB gasoline (RBM26 ) is down -0.1140 (-3.05%). Crude oil and gasoline prices are sharply lower today as the ceasefire in the Middle East appears to be holding, easing geopolitical risks. Crude prices are retreating as relative...

Barchart

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Fortune

Current price of oil as of May 5, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Top U.S. oil producer declares “green” light on drilling for more oil amid Iran war

Diamondback is the largest U.S. oil producer to hike spending and drilling as a result of the Iran war thus far.

Barchart

Crude Oil Prices Surge as Iran Tensions Heat Up

June WTI crude oil (CLM26 ) on Monday closed up +4.48 (+4.39%), and June RBOB gasoline (RBM26 ) closed up +0.1430 (+3.98%). Crude oil and gasoline prices recovered from overnight losses and moved sharply higher on signs of heightened tensions in the Strait of Hormuz. Crude prices shot higher Monday...

Barchart

Crude Oil Prices Surge as Middle East Tensions Flare Up

June WTI crude oil (CLM26 ) today is up +3.18 (+3.12%), and June RBOB gasoline (RBM26 ) is up +0.1323 (+3.68%). Crude oil and gasoline prices recovered from overnight losses and moved sharply higher on signs of heightened tensions in the Strait of Hormuz. Crude prices spiked higher after Iran's...

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International Business Times

OPEC+ Raises Oil Output As Gulf Supply Disruptions Persist Amid Iran War

OPEC+ agreed to a modest increase in oil production for June as the group continues adjusting output during a period of disrupted global supply tied to the ongoing conflict involving Iran and restricted shipping through the Strait of Hormuz.

Fortune

Current price of oil as of May 4, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Euronews

UAE, Qatar seek new Gulf-Asia trade corridor in landmark agreement with South Korea

The UAE signed a landmark trade deal with South Korea, the day after it left OPEC, while Qatar is also engaging with Seoul for its own trade agreement. The Gulf states are paving a structural trade corridor with Asia.

The Independent UK

OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz

Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they’ve decided to a modest increase in production starting in June as part of a commitment to “market stability.”

The Guardian - UK

Trump may not be a fan of clean energy but Iran war is accelerating global shift from oil and gas

Unintended consequence of US president’s actions will be boon for China, the leading renewables manufacturer

Axios

The year that shook the Gulf

The region's vision of a post-oil future has taken a major blow.

Fortune

One economist’s ‘radical idea’ to solve the biggest energy crisis in history: a reverse OPEC

UMass Amherst economist Gregor Semieniuk says the U.S. is the most powerful country to make the idea work.

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