When the US and Israel launched strikes on Iran on Feb. 28, Brent crude was trading around $72 a barrel. Within weeks it was approaching $120. Two months on, with the Strait of Hormuz still functionally closed and negotiations going nowhere fast, prices have swung wildly on every headline — and traders are running out...Continue Reading

Oil Plummets 9% on Reports of Deal to End Iran War | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 06, 2026, 5:44 AM CDT Oil prices collapsed on Wednesday as markets continued to digest reports that the U.S. and Iran were discussing a one-page...Continue Reading

Saudi Arabia Cuts June Oil Prices by Less Than Expected as Hormuz Risks Persist | 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, 5:20 AM CDT Saudi Arabia...Continue Reading

Europe’s Gas Market Braces for Winter Shock as Traders Bet Prices Could Double | 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, 4:15 AM CDT The options market...Continue Reading

Oil Prices Fall Below $100 After Trump Pauses Hormuz Escort Plan | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – May 06, 2026, 3:01 AM CDT Crude oil prices extended losses for a...Continue Reading

Energy Security Concerns Force the EU to Reconsider Domestic Gas Drilling | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – May 06, 2026, 2:00 AM CDT The energy ministers of European Union members...Continue Reading

Australia Plans $7 Billion Fuel Stockpile | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – May 06, 2026, 12:39 AM CDT Australia’s government plans to spend A$10 billion, or $7 billion, on building...Continue Reading

The U.S. paused its plan to reopen shipping through the Strait of Hormuz after renewed clashes raised escalation risks, leaving global oil and gas flows under continued pressure. SourceContinue Reading

Subsea tiebacks were a clear Day 1 theme at OTC, with speakers pointing to their growing appeal as operators prioritize lower-capex, faster-to-market offshore developments in a volatile global market. SourceContinue Reading

A Chemical Breakthrough That Could Fix the Plastic Crisis | OilPrice.com Premium Content By Michael Scott – May 05, 2026, 7:01 PM CDT Hyper-industrial-scale plastic production has become an industrial-scale health, environmental, and remediation problem. It is challenging to put a dollar figure on burying ourselves alive. The damage appears to have no endpoint. The...Continue Reading