OPEC crude production fell to its lowest level since 1990 as the Iran war and Strait of Hormuz disruption cut Persian Gulf exports and forced additional shut-ins. SourceContinue Reading

Germany Seeks Israeli Jet Fuel As Hormuz Disruptions Cripple Airlines | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 06, 2026, 11:30 AM CDT Israel will begin supplying jet fuel to Germany after Berlin requested assistance as the Hormuz crisis starts disrupting aviation fuel flows...Continue Reading

British Billionaire Slams Europe’s Energy Policy and Expands U.S. Oil Business | OilPrice.com City A.M CityAM.com is the online presence of City A.M., London’s first free daily business newspaper. Both platforms cover financial and business news as well as sport and… More Info Premium Content By City A.M – May 06, 2026, 11:00 AM CDT Ineos...Continue Reading

Equinor has started production from the Eirin field in the North Sea, adding new gas volumes to Europe through a subsea tieback to the Gina Krog and Sleipner infrastructure. SourceContinue Reading

Tankers Stranded Once Again As Trump Calls Off ‘Project Freedom’ | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 06, 2026, 10:30 AM CDT Cargo vessels and tanker owners, who hoped for a U.S. escort out of the Strait of Hormuz earlier this week, are...Continue Reading

Oil and gas prices fell sharply after reports that the U.S. and Iran are nearing a deal that could reopen the Strait of Hormuz and ease global supply disruption. SourceContinue Reading

Crude oil inventories in the United States decreased by 2.3 million barrels during the week ending May 1, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 457.2 million barrels, according to government data, which is still 1% above the five-year average for this...Continue Reading

Lufthansa Warns Strait of Hormuz Closure Will Add $2 Billion in Fuel Costs | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 06, 2026, 9:30 AM CDT Lufthansa Group expects the surge in jet fuel prices to cost it an...Continue Reading

Average U.S. Gasoline Price Tops $4.50 to Near Four-Year High | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 06, 2026, 8:00 AM CDT The national average price of gasoline in the United States has just topped $4.50 per gallon,...Continue Reading

Pakistan Issues Emergency LNG Tender for Two Cargoes as Power Crisis Deepens | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – May 06, 2026, 7:00 AM CDT Pakistan on Wednesday issued...Continue Reading