The draft US-Iran memorandum of understanding keeps the Strait of Hormuz firmly under regional control, the Iranian news agency IRNA reported in an exclusive on Friday. Iran will not make any commitments regarding “handing over the management” of the Strait of Hormuz, and the future of the strait will be “resolved within the framework of …
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Oil prices pared back some loses on Friday after an Iranian media outlet reported that the regime would not restore traffic through the Strait of Hormuz to its prewar levels On Friday, Irna, the Islamic Republic’s news agency, reported that the strait would not return to its pre-conflict levels. Earlier on Friday, oil prices extended …
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The prices of oil futures dipped by over 4% on Friday after United States President Donald Trump announced that he had canceled attacks on Iran, claiming that, to his understanding, Iranian Supreme Leader Ayatollah Mojtaba Khamenei approved the long-awaited agreement between the two countries. Furthermore, the US president signaled that the deal could be signed in the next …
Continue reading “Oil dips over 4% on Middle East peace hopes”
Iran rejected US President Donald Trump’s claims that a ceasefire deal between the countries had been reached in principle, Tasnim News Agency reported on Thursday. “Trump declared 38 times that a deal was imminent. In just three days, he ‘imaginarily’ sent his deputy to Pakistan four times,” the outlet added. “As long as Iran does not …
President Donald Trump said he canceled planned military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure. Trump on Thursday cited what he said were “discussions” that “have been brought to the highest level of Iranian leadership” …
President Donald Trump said the US would strike Iran again Thursday and threatened to take control of the country’s energy infrastructure including the key oil export hub of Kharg Island “at some point.” “The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with …
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Summary for the week ending June 5, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2 million barrels from the previous week. At 426.5 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year. U.S. crude oil refinery inputs averaged …
United States President Donald Trump told Fox News on Wednesday that he is “close to ” instructing the military to launch new strikes against Iran. Trump said the new targets may include Iran’s power plants and bridges and reiterated that Tehran “took too long” to negotiate a peace agreement with the US. He also vowed to continue …
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Oil markets remain focused on hopes for a U.S.-Iran deal, but the physical market is facing a severe supply crunch. Global oil inventories are being depleted at a record pace, as governments draw down strategic reserves and stored crude to offset lost supply, while U.S. fuel stocks have fallen to multi-year lows. Analysts and energy …
Continue reading “Disconnected Oil Futures Market Could See Price Spike within Weeks”
The United States military attacked several Iranian air defense and radar systems around the Strait of Hormuz in Tuesday’s strikes, Axios reporter Barak Ravid said on X, citing an unnamed US official. Iranian media said after the strikes that explosions were heard in Qeshm and the eastern regions of Hormozgan, including in Kohstak, Sirik, and Minab. US said …