The IEA and its 32 member countries launched a record 400-million-barrel emergency oil release after Iran’s Strait of Hormuz blockade. The U.S. is contributing 172 million barrels, and SPR inventories are now falling at a record pace. Standard Chartered warns the rapid SPR drawdowns and other emergency measures are only temporary fixes, with physical oil …
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Crude oil prices rebounded from yesterday’s losses on Thursday, with West Texas Intermediate (WTI) jumping by more than 3% as hopes for the United States and Iran reaching a peace deal started to fade, following the latest reports claiming that Iranian Supreme Leader Ayatollah Mojtaba Khamenei issued a directive ordering Iran’s uranium to stay in the …
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The prices of oil tumbled on Wednesday, deepening even more after midday as reports surfaced that Pakistan may announce a final US-Iran draft agreement within hours. Investors reacted to the news by moving out of bonds and into equities, sending Treasury yields sharply lower and US stocks surging 520 points higher as the prospect of war faded. West Texas Intermediate (WTI) …
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Pakistan is expected to announce the final draft of a peace agreement between the United States and Iran soon, Saudi Arabia’s state news agency Al-Hadath reported on Wednesday, citing unnamed sources. According to the report, intensive work is underway to finalize the text of an agreement between Washington and Tehran. Pakistan’s Chief of Army Staff, …
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Summary of Weekly Petroleum Data for the week ending May 15, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.9 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil inventories are about 2% below the five-year average for this …
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President Donald Trump said he called off a strike on Iran planned for Tuesday after an appeal by the leaders of Persian Gulf allies, who called for more time to pursue a diplomatic resolution. “I put it off for a little while, hopefully maybe forever, but possibly for a little while, because we’ve had very …
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The United States has received Iran’s latest proposal for a deal to resolve the conflict, but the White House sees the new offer as “insufficient” for a peace agreement, Axios reported on Monday, citing a senior US official. According to the report, US President Donald Trump is considering resuming the military operation in Iran because Tehran …
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Pakistan shares Iranian proposal with US Pakistani source says: “We don’t have much time” Iranian source says focus is on ending war and Hormuz Source says Iran wants US to reconsider stance on assets Iran sent a new peace proposal to the United States with terms that appeared similar to offers Washington has previously rejected, …
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United States President Donald Trump is planning to hold a Situation Room meeting with security officials on Tuesday to discuss potential new military options against Iran, Axios reported on Sunday, citing American officials. Furthermore, Trump spoke to the outlet over the phone, stressing that Iran will “get hit much harder” unless it comes up with …
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The World Health Organization (WHO) determined that the latest outbreak of a rare species of the Ebola virus affecting the Democratic Republic of the Congo and Uganda constitutes a public health emergency of international concern (PHEIC). WHO stated that the outbreak does not satisfy the criteria required to be considered a pandemic. According to the organization, …
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