NYSEARCA:XOP

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At Close: Jun 05, 2026

$200 Oil And A Ruined US Economy

08:10am, Friday, 06'th Mar 2026
Forecasts that oil will hit $100 barrel happen regularly now because of the war in the Middle East and the shuttering of the Strait of Hormuz through which 20% of the world's oil flows by ship.
Stocks are falling sharply on Wall Street Thursday, including a 1,000-point slump for the Dow Jones Industrial Average, as oil prices rise further because of the war with Iran.
President Donald Trump often talks about gasoline prices — but now that they're increasing, he says he is not concerned.
Wall Street remains focused on oil prices this week—and likely for the foreseeable future.

U.S. gives India waiver to buy Russian oil

05:38am, Friday, 06'th Mar 2026
The U.S. has issued a waiver allowing India to buy Russian oil. CNBC's Amitoj Singh reports.
U.S. equity futures fell as traders neared the close of a week in which war shocked energy markets and raised inflation fears.
Oil prices rose on Friday morning after oscillating overnight.
Oil futures traded at their highest levels since the summer of 2024 on Friday as the war against Iran entered a seventh day with no sign of it ending anytime soon.
International oil benchmarks were flat early Friday, following comments from energy secretary Chris Wright.
Crude prices post a massive 20% weekly gain as the Strait of Hormuz reaches a standstill. Discover if WTI can sustain momentum above $81.35 despite SPR threats.
Precious metals tick up; employment data in focus
The Trump administration is ruling ​out deploying the Treasury Department to trade oil futures ‌for now, Bloomberg News reported on Friday, citing a person familiar with the matter.
U.S. has issued a 30-day waiver to the world's third-largest oil importer, India, to resume purchase oil from Russia. The U.S. government is taking steps to curb rising oil prices, including offering
Oil fell for the first time in six days as the U.S. government is considering potentially intervening in the futures market to blunt rising ​prices and has given waivers to Indian refiners to buy Ru
Oil futures fell in early Asian trade after Treasury Secretary Bessent unveiled a stopgap measure to ease pressure caused by what he calls Iran's attempt to “take global energy hostage.”
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