Up until late on Thursday the rise in global oil markets appeared to be more of an unfortunate bump than imminent oil shock. The immediate response to the closure of the Strait of Hormuz, a 10% price increase, appeared rather benign for what was long-assumed to be the oil market's nightmare scenario. On Friday the situation changed, pennies started to drop. The intervention from the Qatari Energy minister Saad al-Kaabi that all Gulf energy providers were likely to halt export in days, and $150 a barrel of oil was coming, sparked oil markets into life. Crude oil ended up 27% since the conflict began. Derivative petrochemical products vital for livelihoods, and industrial supply chains that are also dependent on free passage in the Gulf, from jet fuel, to urea, are also spiking in price. While this is not yet an energy shock, the markets are starting to assume worse scenarios if not yet the worst case. It won't take much for oil to breach the $100 barrier next week. Iran has not actually formally closed the Strait. They have de facto been closed voluntarily as insurance costs soar, and sailors fear for their safety. The net result is a wave of inflationary pressures emanating from th
Mar 7, 2026 → Mar 22, 2026
Oil prices rose Sunday after Iran threatened to shut down the Strait of Hormuz indefinitely in response to President Donald Trumpâs ultimatum on the restoration of oil traffic through the critical waterway. Brent crude, the global…
Read original at CNN →15 updates from 4 sources over 2 weeks.
Oil prices rose Sunday after Iran threatened to shut down the Strait of Hormuz indefinitely in response to President Donald Trumpâs ultimatum on the restoration of oil traffic through the critical waterway. Brent…
Read original at CNN →⢠Follow the latest updates on the war with Iran here. ⢠War timeline: US President Donald Trump said on social media Friday the US is considering âwinding downâ military efforts in the Middle East. But…
Read original at CNN →Oil prices rebounded Tuesday and US gas prices rose as Iran intensified its attacks on energy infrastructure across the Middle East and a senior regime figure suggested that the crucial Strait of Hormuz wouldnât…
Read original at CNN →Iranâs effective shutdown of the Strait of Hormuz has locked up 20% of the worldâs oil. But thereâs more to the story. Oil and gasoline have gotten all the headlines in recent weeks for good reason: Surging fuel…
Read original at CNN →Stocks fell and global oil prices settled at $100 per barrel for the first time since 2022 as the effective closure of the Strait of Hormuz continued to roil markets. The major US stock indexes each closed lower by more…
Read original at CNN →Annual inflation was unchanged last month at 2.4%, according to the latest Consumer Price Index, released Wednesday. On a monthly basis, prices rose 0.3% in February, a faster pace than Januaryâs 0.2%, according to…
Read original at CNN →Rolling coverage of the latest economic and financial news Saudi Arabiaâs state oil company has warned of âcatastrophic consequencesâ for the worldâs oil markets if the US-Israeli war with Iran continues to…
Read original at The Guardian →Oil prices fell sharply Tuesday after US President Donald Trump said the war with Iran would be over âvery soon,â though they remain volatile and well above their levels before the conflict started. Also on Tuesday,…
Read original at CNN →Investors rattled by the war in Iran have sent oil prices skyrocketing â and global governments have noticed. The worldâs biggest economies are now considering emergency releases of millions of barrels of oil into…
Read original at CNN →Global oil and US gas prices are climbing again after an escalation in hostilities between the United States and Iran. Prices eased over the summer after the United States and Iran signed a peace plan to end the war in…
Read original at CNN →Rural residents using oil tanks to fuel their homes say they are feeling the pinch of the war in Iran. The UK is heavily reliant on oil and gas imports and prices have surged since the US and Israel began attacking Iran…
Read original at BBC →A historic disruption to the worldâs oil production sent crude prices smashing through the $100 barrier Monday for the first time in nearly four years, before prices settled just below $100. As the war with Iran drags…
Read original at CNN →This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by…
Read original at Fox News →Governments are having to wake up to the fact they will have to take a closer interest in supply chains for essentials Oil prices ‘could breach $100 a barrel within days’ amid supply disruption from Iran war Donald…
Read original at The Guardian →Up until late on Thursday the rise in global oil markets appeared to be more of an unfortunate bump than imminent oil shock. The immediate response to the closure of the Strait of Hormuz, a 10% price increase, appeared…
Read original at BBC →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
Oil prices rose Sunday after Iran threatened to shut down the Strait of Hormuz indefinitely in response to President Donald Trumpâs ultimatum on the restoration of oil traffic through the critical waterway. Brent crude, the global…
View source →⢠Follow the latest updates on the war with Iran here. ⢠War timeline: US President Donald Trump said on social media Friday the US is considering âwinding downâ military efforts in the Middle East. But officials said thousands…
View source →Oil prices rebounded Tuesday and US gas prices rose as Iran intensified its attacks on energy infrastructure across the Middle East and a senior regime figure suggested that the crucial Strait of Hormuz wouldnât become safe for ships…
View source →Iranâs effective shutdown of the Strait of Hormuz has locked up 20% of the worldâs oil. But thereâs more to the story. Oil and gasoline have gotten all the headlines in recent weeks for good reason: Surging fuel costs have led to a…
View source →Stocks fell and global oil prices settled at $100 per barrel for the first time since 2022 as the effective closure of the Strait of Hormuz continued to roil markets. The major US stock indexes each closed lower by more than 1.5%,…
View source →Annual inflation was unchanged last month at 2.4%, according to the latest Consumer Price Index, released Wednesday. On a monthly basis, prices rose 0.3% in February, a faster pace than Januaryâs 0.2%, according to the Bureau of Labor…
View source →Tier key: T0 = Primary source · T1 = Wire · T2 = Outlet report · T3 = Commentary
Long-running fight over Trump-backed maps takes another turn as absentee voting is already under way in Missouri. This blog is now closed. Sign up for US Breaking News emails Xi…
This new task force is Trump's latest response to the debate over AI safety.
The Trump administration’s decision to revoke the visa of a Peruvian judge who sided with a Chinese company in a port dispute puts a new spotlight on the growing US-China rivalry…
As Bosnians vote in an election this weekend, the country is embracing the US president’s family and friends.
On Equity, we discussed the Trump administration's attempts to rebrand AI.
Donald Trump and Xi Jinping discuss Taiwan arms sales every time they get together but the American stance on the self-ruled island remains unchanged following the Chinese…
