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At Close: Jun 03, 2026
Oil Prices Mixed; Prospect of Prolonged Strait of Hormuz Closure May Buoy
09:19pm, Wednesday, 29'th Apr 2026
Oil prices were mixed in early trade but may be buoyed by the prospect of a prolonged closure of Strait of Hormuz.
Oil extends gains with Brent at $120 as fears of an extended U.S.-Iran conflict rise
08:28pm, Wednesday, 29'th Apr 2026
Oil extended gains on Thursday as signs of a prolonged U.S. blockade on Iranian exports and stalled nuclear negotiations. Prices rose as the Wall Street Journal reported, citing U.S. officials, that D
Goldman says UAE's exit from OPEC raises medium-term oil supply upside risk
05:17pm, Wednesday, 29'th Apr 2026
Goldman Sachs on Wednesday said the United Arab Emirates exit from OPEC poses a greater upside risk to oil supply over the medium term than in the short term.
US Signals It Will Stick With Hormuz Naval Blockade
04:30pm, Wednesday, 29'th Apr 2026
The US signaled there will be no letup with its naval blockade of Iranian ports, as it tries to choke-off Tehran's oil exports and force it back to the negotiating table. The blockade lies at the hear
Hope Beneath the Headlines
02:47pm, Wednesday, 29'th Apr 2026
SUMMARY US' energy independence has helped mitigate negative economic effects of the oil price shock. Unit labor costs are growing at a slower rate, suggesting core inflation should moderate over time
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 7% As Trump Rejects Iran's Proposal
02:34pm, Wednesday, 29'th Apr 2026
Oil markets tested new highs amid worries about escalation in the Middle East.
Why United Arab Emirates Has Unshackled Its Oil Production From OPEC
01:55pm, Wednesday, 29'th Apr 2026
The United Arab Emirates - one of the world's leading producers of crude oil - has decided to quit the Organization of Petroleum Exporting Countries.
OPEC+ set to agree another oil output hike without UAE, sources say
01:39pm, Wednesday, 29'th Apr 2026
Seven members of OPEC+ are likely to agree another increase in oil output targets when they meet on Sunday, three sources with knowledge of discussions told Reuters, lowering the size of the
Fed expected to hold as soaring oil prices keep rate cuts off the table
11:58am, Wednesday, 29'th Apr 2026
With oil flirting near $120 a barrel and inflation refusing to cool, the Federal Reserve is expected to do the only thing it can on Wednesday: nothing. The decision would also mark what is likely Jero
U.S. Crude Oil Stockpiles Fall on Record Weekly Exports
11:16am, Wednesday, 29'th Apr 2026
Commercial crude oil stocks fell by 6.2 million barrels, and were about 1% above the five-year average for the time of year, the EIA said. Crude inventories were seen down by 100,000 barrels in a surv
US crude oil exports rose last week to record high, EIA says
11:11am, Wednesday, 29'th Apr 2026
U.S. crude oil exports rose to 6.438 million barrels per day last week, the highest on record, data from the Energy Information Administration showed on Wednesday.
Russian oil exports steady in April despite attacks, may rise in May, sources say
08:43am, Wednesday, 29'th Apr 2026
Russia has managed to keep crude oil loadings at its key western ports in April at March levels despite ongoing drone attacks, and May could see even an increase, according to trade and industry �
The key global oil contract tops $115 as Strait of Hormuz impasse continues
07:44am, Wednesday, 29'th Apr 2026
Oil futures rallied further Wednesday, with the key contract nearing its highs reached in the early days of the Iran war with little progress made on getting oil tankers through the Strait of Hormuz.
Spot crude premiums ease from record highs despite Hormuz closure
05:36am, Wednesday, 29'th Apr 2026
Spot premiums for physical crude have slipped from record highs reached earlier during the Iran war as refiners are drawing on inventories and cutting back processing to cope with lost Middle East
Oil prices extend multi-day rally as Trump issues new threat to Iran; Brent tops $115 per barrel
05:29am, Wednesday, 29'th Apr 2026
Oil prices rose on Wednesday amid fears about prolonged shipping disruption through the strategically vital Strait of Hormuz. Brent crude futures briefly topped $115 per barrel, while WTI futures clim
