Trump and Iran Signal No Quick End to War as Oil Tankers Burn in Iraqi Waters

The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that…

US to Release 172 Million Barrels of Oil From Strategic Petroleum Reserve

The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the…

Goldman Sachs Raises Q4 Brent, WTI Crude Price Forecast Amid Longer Hormuz Disruption

Goldman Sachs raised its Brent and WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 as it sees longer disruption to oil…

Trump Taps Strategic Petroleum Reserve in Response to Iran Shipping Attacks

President Trump has ordered the release of 172 million barrels from the strategic petroleum reserve to cushion the blow to global oil supply from the paralysis of the Strait of…

China Halts Fuel Exports as Hormuz Crisis Tightens Global Supply

The Chinese government has moved to ban all fuel exports amid a worsening supply crunch because of the severe disruption in tanker traffic in the Strait of Hormuz. The ban…

Iran May Allow Indian Tankers Through Hormuz Despite Ongoing Shipping Attacks

Iran is set to allow India-flagged tankers to pass through the Strait of Hormuz, an Indian source told Reuters on Thursday amid conflicting reports about the situation at the world’s…