oil prices

  • An oil tanker anchors near the oil hub of the port of Fos-Lavera at sunset near Marseille, southern France, April 14, 2026. (Photo: Reuters)
  • A pump jack operates outside of Midland, Texas, U.S. June 11, 2025. (Photo: Reuters)

Oil prices jump on renewed US-Iran hostilities

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BEIJING, May 8 (Reuters) – Oil prices were up more than 1% on Friday after renewed fighting broke out between the U.S. and Iran, threatening a shaky ​ceasefire and dashing hopes for progress on reopening the Strait of Hormuz, a ‌key oil and gas transit route. Brent crude futures were up $1.41, or 1.41%, at

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  • A drone view shows the Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arriving in Iraq’s territorial waters off Basra, Iraq, April 17, 2026. (Photo: Reuters)
  • A drone view of a pump jack and drilling rig south of Midland, Texas, U.S. June 11, 2025. (Photo: Reuters)

Oil prices fall a second day as Trump indicates possible Iran peace deal

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MELBOURNE, May 6 (Reuters) – Oil prices fell for a second day on Wednesday on expectations bottled up supply from the key Middle East ​producing region could resume flowing after U.S. President Donald Trump indicated a possible peace deal ‌may be reached to end the war with Iran. Brent crude futures for July fell $1.52,

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Vehicles sit parked at fuel pumps as regular gasoline prices above $6 per gallon and diesel prices above $7 per gallon are displayed outside a Mobil gas station in Redondo Beach, Calif. on Thursday. (Photo: AFP)

Oil falls as Iran proposes talks but prices still set for weekly gains

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LONDON, May 1 (Reuters) – Oil prices dropped on Friday after Iran was reported to have ‌sent a fresh proposal for U.S. negotiations, but prices remained on track for weekly gains, with Tehran still blocking the Strait of Hormuz and the U.S. Navy blocking exports of Iranian crude. Brent crude futures for ​July were down

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  • The sun sets behind an oil pump outside Vaudoy-en-Brie, near Paris, France, March 18, 2026. (Photo: Reuters)
  • A drone view of a pump jack and drilling rig south of Midland, Texas, U.S. June 11, 2025. (Photo: Reuters)

Oil prices rises on concerns over escalating military tensions in the Middle East

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BEIJING/PERTH April 24 (Reuters) – Oil prices ​rose on Friday due to fears of a renewed military escalation in the Middle East after Iran released footage of commandos ‌boarding a cargo ship in the Strait of Hormuz and on reports Tehran’s air defences had engaged “hostile targets.” Brent crude futures rose 99 cents, or 0.94%,

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