Oil Prices

Oil prices dropped more than 5% after progress in US–Iran peace talks raised expectations over Strait of Hormuz stability, shifting market focus to supply outlook and diplomacy.

The United Nations slashed its 2026 global growth forecast to 2.5% and raised inflation projections after the Iran-triggered Strait of Hormuz closure sent oil prices surging, marking the worst economic shock since COVID-19.

Oil jumped over 4% on May 15 as U.S.-Iran nuclear talks broke down and Strait of Hormuz tanker traffic froze, pushing WTI above $105 and Brent past $109 per barrel.

As the Strait of Hormuz blockade triggers the largest global oil and LNG supply disruption in decades, China strengthens energy security through strategic reserves, diversified imports and rapid market stabilization measures.

Trump said the United States can end the Iran war without China’s help as tensions in the Strait of Hormuz intensify, oil prices surge, and peace talks remain stalled.

Global oil and gas M&A activity in 2026 is shifting toward natural gas assets, Canadian oil sands and secondary basins, as major energy companies retreat from mega-mergers and focus on strategic consolidation.

Global oil prices fell sharply as optimism over US–Iran peace talks eased Middle East supply risks, with WTI and Brent dropping to two-week lows despite continued US inventory draws.

Global oil inventories are nearing eight-year lows, Goldman Sachs reports, with uneven regional depletion raising growing risks of refined fuel shortages and supply disruption pressures.

The United Arab Emirates will exit OPEC and OPEC+ on May 1, a move set to weaken the group's control over global oil supply and prices while reshaping energy markets worldwide.

Iraq's oil exports have plunged as the Strait of Hormuz closure disrupts shipments, cuts billions in revenue, and exposes major risks to global energy markets and investors.

U.S. President Donald Trump said the United States has fully taken control of the Strait of Hormuz amid escalating tensions with Iran, as Tehran rejects the claim and both sides trade warnings over maritime control.

Global oil prices jumped over 3% after renewed attacks in the Strait of Hormuz despite a claimed U.S. ceasefire, intensifying supply concerns and forcing airlines to cut capacity worldwide.

Rising crude oil prices are pushing costs through the pharmaceutical supply chain, with vitamins and sartan APIs leading price increases as capacity cuts and supply disruptions reshape the market.

EU fuel prices surged in March, with diesel rising over 19% month-on-month and gasoline up more than 10%, according to Eurostat, highlighting broad inflationary pressure across member states.

Rising tensions from the U.S.–Israel–Iran conflict are tightening global supply chains, with Europe facing jet fuel shortages, while agriculture and manufacturing see rising cost and input pressures.

Global urea supply chains are under severe strain as geopolitical conflict, energy price spikes, and infrastructure disruptions trigger widespread production cuts, tightening fertilizer availability ahead of spring planting season.

Geopolitical conflict in the Middle East drives WTI crude above $95, fueling surging costs and tight supply in China's orthoxylene market, sparking historic price swings and industry volatility.

The U.S.-Iran conflict and Strait of Hormuz disruptions cut global oil supply, prompting China to shift chemical output to fuel, impacting petrochemical production and downstream industries.

The IEA's historic 400M-barrel strategic oil release offered limited relief as Brent crude jumped past $100 and WTI neared $96 amid US-Israel strikes on Iran.

The IEA's record 400 million-barrel release aims to ease oil supply disruptions from Middle East tensions, with the U.S., Japan, and Europe contributing to stabilize global markets.

Rising tensions in the Middle East have disrupted shipping through the Hormuz Strait, pushing oil above $100 and triggering sharp volatility in global oil and gas markets while raising concerns over Europe's energy supply.