Oil prices rose nearly 5-10% weekly as Iran-U.S. tensions persisted, with Tehran blocking the Strait of Hormuz and threatening retaliation while Washington considered renewed military strikes, disrupting approximately one-fifth of global oil and gas supplies.
President Trump signed a memorandum with Iran to end their war and reopen the Strait of Hormuz, causing oil prices to fall four dollars per barrel to three-month lows as markets anticipate resumed supply from the critical shipping channel.
Trump's threats toward Iran over stalled negotiations triggered oil price gains Wednesday, with Brent crude rising 1.6% to $92.90 and US crude climbing 2% to $90 amid geopolitical tensions and reduced US inventory levels.
Oil prices declined as Iran and Israel paused attacks following US President Trump's appeal, easing supply disruption concerns. WTI fell 0.57% to $90.78 and Brent dropped 0.51% to $93.77, retreating from recent highs amid ongoing Middle East tensions.
Israeli strikes on Iran and Lebanon escalated Middle East tensions, pushing oil prices up 3.3 percent to $96.17 per barrel as markets feared prolonged supply disruptions through the Strait of Hormuz, undermining diplomatic efforts to resolve the conflict.
Oil prices declined following Lebanon's ceasefire agreement, as markets anticipate reduced geopolitical tensions and potential reopening of the Strait of Hormuz, a critical shipping route for global crude supplies.
Oil Drops After Israel-Lebanon Ceasefire Boosts Hopes for Wider Peace
Oil futures fell over 2% this week, marking their steepest decline since April, as traders anticipated a U.S.-Iran ceasefire agreement that could reopen the Strait of Hormuz, critical for one-fifth of global oil and gas supply.
Iran war volatility has boosted commodities across the complex, and gold, oil and base metals prices will rise even after a deal - UBS
UBS forecasts Brent crude near $100 through late 2026 following a February Strait of Hormuz closure that reduced global oil supply by 12.8 million barrels daily, triggering record inventory drawdowns and elevated prices expected to delay interest rate cuts and strain consumer budgets.
Oil prices fell over 1% after US crude inventories surged 16 million barrels in three years, while traders monitor US-Iran nuclear negotiations and Saudi Arabia's production boost for potential Middle East supply disruptions.
Oil prices stabilized near $100 per barrel Wednesday as investors awaited the Trump-Xi summit while monitoring Middle East tensions, with supply disruptions and declining inventories supporting prices amid sustained geopolitical uncertainty.
Oil prices surged 4.2% to $112.66 per barrel as Iran-US tensions escalated in the Persian Gulf, threatening approximately 20% of global oil supplies transiting the Strait of Hormuz amid reported attacks on vessels and military interventions.
Oil prices surged 3% as Iran claimed targeting a U.S. warship in the Strait of Hormuz, which Washington denied, while supply concerns and geopolitical tensions kept markets volatile above $100 per barrel.
Crude oil surged 3.1% amid escalating Iran-Israel tensions in the Strait of Hormuz, with WTI settling near $96 and Brent above $105 a barrel, as stalled peace talks and military threats jeopardize critical global energy flows.
Iran declared the Strait of Hormuz open during the Lebanon ceasefire, causing oil prices to drop 10.9 percent to $88.60 per barrel, providing temporary relief to global markets dependent on this critical shipping route for one-fifth of world oil and gas supplies.
Oil prices declined as diplomatic talks between the US and Iran, alongside ceasefire developments, raised market expectations for reduced geopolitical tensions and potentially increased global oil supply.
Central banks are bringing gold reserves home as geopolitical risks rise
UBS revamps gold price target for the rest of 2026
Oil prices rose toward weekly gains as the Iran-U.S. conflict persisted, with Brent crude up 5.2% weekly and WTI up 10.5%, driven by Strait of Hormuz disruptions affecting roughly one-fifth of global oil and liquefied natural gas supplies amid stalled ceasefire negotiations.
Oil prices rose over one dollar as Iran and Israel halted attacks following Trump's intervention, though Tehran threatened resumption if Israeli strikes on Hezbollah continued, with broader Middle East tensions threatening crucial Strait of Hormuz shipping routes.
Oil prices fell approximately three percent after Israel and Lebanon reached a ceasefire agreement, raising investor hopes that a broader Middle East conflict resolution could reopen the Strait of Hormuz and ease supply constraints.
Oil prices fell approximately 3% after Israel and Lebanon agreed to a ceasefire, raising investor hopes for a US-Iran deal that could reopen the Strait of Hormuz and ease global supply concerns amid Middle East tensions.
Crude oil climbs toward USD100 per barrel amid escalating US-Iran tensions and Middle East conflict, with Brent closing at USD97.81, driven by Strait of Hormuz supply disruption concerns and declining US inventories.
Oil prices fell 0.7-0.9 percent as Iran reviewed a proposed US ceasefire agreement, with Brent crude dropping to $94.29 per barrel, amid concerns over restricted Hormuz strait flows and historically low global inventories during peak summer demand.
U.S. military strikes on Iran drove Brent crude up 3% to $99.18 per barrel Tuesday, as peace deal negotiations faced delays and shipping through the Strait of Hormuz remained restricted, threatening global oil and gas supplies.
Saudi Arabia's crude oil exports plummeted to 4.974 million barrels daily in March, the lowest in two decades, as the Iran war disrupted Persian Gulf shipping routes and global energy markets, driving oil prices above $100 per barrel.
The U.S. Energy Information Administration reported crude inventories fell 4.3 million barrels and gasoline stocks dropped 4.1 million barrels last week, while exports rose amid regional conflict, tightening global oil supplies and potentially pushing fuel prices toward record levels.
Oil prices declined over 1% as US crude inventories surged by the largest amount in three years, while traders monitored US-Iran nuclear negotiations and Saudi Arabia's contingency production boost amid geopolitical tensions.
Oil prices surged 3% after Iran attacked a US warship in the Strait of Hormuz, with Brent crude rising to $111.81 and WTI to $105.34, amid ongoing supply disruption concerns.
Gold prices fell over 1% on Friday, heading for a weekly loss due to high oil prices fueling inflation concerns.
Gold prices rose 0.9% to $4,751.57 per ounce Wednesday as Iran's ceasefire extension eased geopolitical tensions, unwound forced liquidations, and prompted investors to rebuild risk asset positions while restoring traditional hedges amid persistent inflation pressures.
Saudi Arabia increased February crude exports to 7.276 million barrels daily and output to 10.882 million barrels daily, the highest since October 2022, amid Middle East tensions constraining global tanker movements despite ample production capacity.
Iran reopened the Strait of Hormuz to commercial vessels, easing geopolitical tensions and prompting global markets to rally sharply, with oil prices tumbling over 11%, equities gaining, and the dollar weakening as investors reassess regional supply risks.
A U.S.-Iran framework agreement on reopening oil shipping routes helped lower national average gas prices to $4.07 per gallon Monday, with Midwest and West Coast states experiencing the steepest declines after recent four-year highs.
Iran and Israel paused military attacks, causing oil prices to decline from recent peaks as traders reduced geopolitical risk premiums on Brent and WTI crude, reflecting eased Middle East tensions.
Oil prices rose $1 after Iran and Israel halted attacks following Trump's intervention, though tensions remained elevated as Tehran threatened resumption if Israeli strikes on Lebanon continued, with supply concerns through the Strait of Hormuz persisting.
Oil prices rose approximately one dollar following Iran and Israel's mutual declarations to cease hostilities, reflecting market relief over reduced geopolitical tensions in the Middle East and diminished concerns about potential supply disruptions.
Oil prices fell nearly 3% Thursday as investors grew optimistic about resolving U.S.-Iran tensions following the Israel-Lebanon ceasefire, potentially reopening the Strait of Hormuz and easing global supply concerns.
Oil prices fell approximately 3% after Israel and Lebanon agreed to a ceasefire, raising hopes for a US-Iran deal that could reopen the Strait of Hormuz and ease supply concerns, with Brent crude dropping $2.82 to $94.99 per barrel.
Saudi Arabia's crude exports and output rose slightly in January to 6.993 million and 10.100 million barrels per day respectively, marking the highest production since April 2023, amid regional supply disruptions affecting Gulf exporters.
Commodity Market Outlook 2026: UBS on Gold, Oil, and Base Metals Under Geopolitical Risks
Oil futures plummeted nearly seven percent Monday amid optimism that the US and Iran approach a peace agreement, potentially reopening the Strait of Hormuz and reducing Middle East risk premiums, though analysts caution previous negotiations collapsed on implementation details.
Saudi Arabia's March crude exports fell to record lows of 6.967 million barrels per day, down from 10.882 million in February, as the Iran war disrupted Strait of Hormuz shipping and strained global energy markets.
Oil prices are little changed as investors monitor a fragile Iran ceasefire and await a US-China summit.
The U.S. military moved two destroyers through the Strait of Hormuz to counter Iran's blockade, causing oil prices to initially spike before paring gains as tensions remained unresolved, with Brent crude rising 1.9 percent amid restricted shipping flows and nuclear deal negotiations stalled.
Brent crude surged above $110 per barrel on May 4th following escalating tensions in the Strait of Hormuz, where reported attacks on maritime vessels and military confrontations between Iran and the United States disrupted critical global energy shipping routes.
Global oil prices surge from supply disruptions in the Middle East and refinery bottlenecks, directly impacting consumer costs for fuel and food; non-OPEC producers control 65% of output while OPEC's spare capacity acts as the market's critical stabilizer.
Iran's Revolutionary Guard seized multiple vessels in the Strait of Hormuz, driving Brent crude above $100 per barrel with futures rising 3.5-3.7%, signaling persistent supply tightness concerns amid geopolitical tensions.
Oil prices declined for a second consecutive week as geopolitical tensions with Iran eased following Trump's deal comments, while weakening global demand forecasts and rising Venezuelan supply pressures further suppressed crude benchmarks.