oil prices Archives - Oil & Gas 360

Oil jumps over $6 on Iran report of halted U.S.-Tehran exchanges, Hormuz blockade risk

June 1, 2026

(Investing) – NEW YORK – Oil prices surged more than $6 per barrel on Monday after Iran’s Tasnim news agency reported that Tehran’s negotiating team has halted message exchanges with the United States and its allied “Resistance Front” are considering measures to completely block the Strait of Hormuz and choking other waterways including the Bab el-Mandeb Strait. The report comes after

Record-low U.S. shale well backlog curbs fast output gains amid export surge

May 29, 2026

(BOE Report)- U.S. shale producers have the lowest stock of drilled-but-uncompleted wells on record, limiting their ability to move quickly to boost crude output and replace rapidly depleted oil inventories after exports and refinery processing jumped to plug the shortfall in supply caused by the U.S.-Israeli war on Iran. Producers in the United States have increased exports to Asia and

Oil prices fall 2% as market awaits possible US-Iran ceasefire deal

May 29, 2026

(Investing) – HOUSTON – Oil futures fell more than 2% on Friday and were on track for their steepest weekly decline since early April after reports that the U.S. and Iran had reached agreement on a potential ceasefire extension. Brent crude futures for July, which expire later on Friday, were down $1.74, or 1.86%, at $91.97 a barrel by 10:58 a.m. CDT

Bernstein sees long-term oil price around $75/barrel

May 28, 2026

(Investing) – Bernstein told investors in a note on Thursday that it sees $75 per barrel as a reasonable long-term oil price assumption for equity valuation, citing a new survey of the 50 largest listed oil and gas companies globally that points to rising marginal costs and a declining reserves outlook. Analyst Neil Beveridge estimated that the global oil marginal

The next oil shock may already be starting

May 22, 2026

(By Oil & Gas 360) – The longer the Iran war continues, the less this looks like a temporary geopolitical disruption and the more it resembles the early stages of a structural oil supply crisis. For months, markets have focused on headlines surrounding ceasefires, diplomacy, and tanker traffic through the Strait of Hormuz. But beneath the volatility, the global oil

Oil prices climb more than 3% on fears of new US-Iran combat

May 18, 2026

(Investing) – “This conflict, which should never have happened, has no reason to continue,” the ministry said. Among deals the market was looking for from the U.S.-China summit, Trump said China wants to buy oil from the United States. Trump also said he could lift sanctions on Chinese companies that buy Iranian oil. “Market focus is back on the deadlock and

The Gray Swan in the Curve: Hypothesizing oil prices, supply response, and what comes next

May 15, 2026

(Oil & Gas 360) By Greg Barnett, MBA – If the first Gray Swan revealed itself beneath Iran’s tanks and the second hovered over the Strait of Hormuz, the third emerges where markets are most reluctant to linger: in the forward curve and the implications it quietly refuses to accept. This is not a forecast. It is a thought exercise

Oil prices up 2% as Trump and Iran’s comments dent peace hopes

May 15, 2026

(Investing) – LONDON – Oil prices gained about 2% on Friday after comments from U.S. President Donald Trump and Iran’s foreign minister further dented hopes of a deal to end ship attacks and seizures around the Strait of Hormuz. Brent crude futures gained $2.50, or 2.4%, to $108.22 a barrel by 1139 GMT. U.S. West Texas Intermediate futures were up $2.86, or

Brent & WTI top $100 with U.S.-Iran diplomacy at a standstill; CPI shows oil shock

May 14, 2026

(Investing) – Oil prices climbed on Tuesday, with both crude benchmarks topping $100 a barrel. The advance came amid an impasse between the U.S. and Iran, denting hopes for a swift end to the war. A key U.S. inflation report also showed an outsized impact of surging oil prices due to the Middle East conflict. At 15:50 ET (19:50 GMT), Brent crude

Rising jet fuel and ticket prices could disrupt summer air travel

May 13, 2026

(Oil Price) – Summer travel could be disrupted for millions of airline passengers as airlines pass on higher jet fuel prices onto air fares and cancel unprofitable routes, according to the global association Airports Council International. The surge in jet fuel prices as a result of the Middle East crisis leads to higher air fares. Passengers should be prepared

OAG360 Past Prologue Series: Oil is managed by policy, gas is managed by physics

May 12, 2026

(Oil & Gas 360) By Greg Barnett, MBA – (Part 4 of 6) – One of the persistent analytical errors in energy markets is treating oil and natural gas as variations of the same problem. They are not. They behave differently, clear differently, and respond to pressure in fundamentally different ways. Understanding that distinction matters more now than at any point

Oil extends gains after Trump says Iran ceasefire on “life support”

May 12, 2026

(Investing) – Oil prices climbed on Tuesday, extending gains of nearly 3% in the previous session, after U.S. President Donald Trump said a fragile ceasefire with Iran was on “life support,” denting hopes for an imminent peace agreement. As of 09:46 ET (13:46 GMT), Brent crude futures, the global oil benchmark, rose 3.6% to $107.96 a barrel, while U.S. West Texas Intermediate

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