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Oil prices extend gains as Middle East talks stall

Oil prices rose again today, extending gains from the previous session, as hostilities in the Middle East erupted anew and talks between Tehran and Washington showed little progress.

Business • 1 hr

Oil rises as Iran reviews proposed US agreement

Oil prices rebounded today, adding to the previous session's gains, as Iran reviewed a proposed agreement with the US to halt the war between the two countries, Iran's Mehr News reported.

Business • 02 Jun

Pumpjacks operate at the Inglewood Oil field in Los Angeles, California on March 17, 2026. Asian markets mostly rose on March 18 and oil prices dipped following another tech-led advance on Wall Street, as the United States hit Iranian missile sites near t

Iran state tv says Strait of Hormuz could open in a month

Tehran would restore shipping through the Strait of Hormuz to pre-war levels within a month in a framework deal with the US to also include withdrawing US forces from Iran's vicinity, Iranian state television reported today.

Business • 27 May

Temporary energy shock could become persistent - BOJ

Bank of Japan Governor Kazuo Ueda said central banks should not look at oil prices in isolation because a temporary energy shock can become persistent if it feeds into wages, expectations, and price-setting behavior.

Business • 27 May

Oil up as investors doubt breakthrough in US-Iran talks

Oil prices climbed today as investors doubted the prospect of a breakthrough in US-Iran peace talks, but held on track for a weekly loss.

Business • 22 May

Oil up after report signals complication to peace talks

Oil prices edged higher today, as investors monitored peace talks between the US and Iran, while supply tightness and US inventory drawdowns provided some support.

Business • 21 May

Oil prices slump after Trump comments on Iran war

Oil prices lost more than 2% today after US President Donald Trump again asserted that the Iran war will end "very quickly", though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues.

Business • 20 May

Oil prices fall as Trump pauses Iran attack plans

Oil prices fell today, with global benchmark Brent crude dropping 1%, after US President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East.

Business • 19 May

Oil rises after drone attack on UAE nuclear power plant

Oil prices extended gains today, driven by increasingly bleak prospects for peace in the Middle East after an attack on a nuclear power plant in the United Arab Emirates.

Business • 18 May

Oil up 2% as Trump and Iran's comments dent peace hopes

Oil prices gained more than 1% after President Donald Trump said he would not be much more patient with Iran and as concerns persisted over ship attacks and seizures despite Tehran saying about 30 vessels had passed through the Strait of Hormuz.

Business • 15 May

Maps4Media processed and enhanced Sentinal-2 satellite imagery shows a broad view of the Strait of Hormuz

Oil prices dip as Iran says vessels are crossing Hormuz

Oil prices dipped today after Iran's state media said about 30 vessels had crossed the Strait of Hormuz in recent hours while the semi-official Fars news agency cited a source saying Iran had begun allowing transit for some Chinese vessels.

Business • 14 May

Oil prices little changed as Trump heads to China

Oil prices were little changed today as investors monitored a fragile Middle East ceasefire and awaited a high-stakes summit in Beijing between US President Donald Trump and China's Xi Jinping.

Business • 13 May

Fanned out dollars in front of a trader's screen to indicate inflation

US consumer prices increase further in April

US consumer prices rose at a brisk clip for a second month in a row in April, resulting in the largest annual increase in inflation in nearly three years and further bolstering expectations the Federal Reserve would keep interest rates unchanged for a while.

Business • 12 May

Offshore oil rig in the sea with a sunset in the background

Oil prices jump on latest US-Iran peace process impasse

Oil prices rose by more than 3% today as stark differences between the US and Iran on a proposal to end the war in the Middle East pushed supply concerns back into the spotlight.

Business • 12 May

Aramco Q1 profit jumps 25% as pipeline at full capacity

Saudi Aramco reported a 25% jump in first-quarter profit, showing its resilience as US-Iran war tensions curtail Strait of Hormuz shipping, with the state oil giant's East-West crude pipeline running at full capacity to mitigate the impact to supplies.

Business • 11 May

Oil up $3 after Trump rejects Iran's response to US plan

Oil prices increased by more than $3 today, a day after President Donald Trump said Iran's response to a US peace proposal was "unacceptable", leaving the Strait of Hormuz largely closed with no clear end in sight to the war.

Business • 11 May

Oil pares early gains a day after new US-Iran fighting

Oil prices are trading higher, a day after renewed fighting near the Strait of Hormuz raised new questions about the ceasefire between the US and Iran.

Business • 08 May

Shell has today reported better than expected first quarter net profits

Shell's profit beats expectations at $6.9 billion

Shell's first-quarter profit has today beaten estimates and hit its highest in two years at $6.9 billion, boosted by gains linked to the Middle East war, leading the company to raise the dividend by 5%.

Business • 07 May

Oil prices down on Middle East peace hopes

Oil prices fell again today but losses moderated in evening trade on renewed hopes for a US-Iran peace deal that could bring a gradual reopening of the Strait of Hormuz.

Business • 07 May

Oil down as US, Iran move close to framework peace deal

Oil prices have slumped to two-week lows after a Pakistani source said that the US and Iran were nearing an initial peace deal.

Business • 06 May

A commercial vessel is seen off the coast of Dubai with a man in the foreground

Global oil slips but Middle East fighting limits losses

Global oil prices slipped today - a day after the US launched an operation aimed at reopening the Strait of Hormuz to shipping, although exchanges of fire between the US and Iran limited the decline.

Business • 05 May

a Chevron gas station in the US with the company log and signage

Chevron's upstream strength lifts first-quarter earnings

Chevron exceeded Wall Street estimates for its first-quarter earnings today, as elevated oil prices linked to the US-Israeli war on Iran helped boost results from its upstream business.

Business • 01 May

Exxon beats Q1 earnings estimate despite hit from war

Exxon Mobil has beaten estimates for first-quarter adjusted earnings, though unadjusted profit dropped to its lowest level in five years due to disrupted shipments from the US-Israeli war on Iran and a large negative impact from timing effects related to financial derivatives.

Business • 01 May

Steady oil prices set for weekly gain as Iran war goes on

Oil prices fell today but were up slightly in the week as efforts to halt the Iran war remained at an impasse, with Tehran still blocking the Strait of Hormuz and the US Navy blocking exports of Iranian crude.

Business • 01 May

What's next for OPEC after the UAE's withdrawal?

The exit of the UAE from OPEC and OPEC+ starting in May has cast doubts over the Saudi-led cartel's future after losing its fourth largest producer and further strains ties between the two Gulf rivals.

Business • 30 Apr

Oil Prices

Oil prices extend gains as Middle East talks stall

Oil rises as Iran reviews proposed US agreement

Iran state tv says Strait of Hormuz could open in a month

Temporary energy shock could become persistent - BOJ

Oil up as investors doubt breakthrough in US-Iran talks

Oil up after report signals complication to peace talks

Oil prices slump after Trump comments on Iran war

Oil prices fall as Trump pauses Iran attack plans

Oil rises after drone attack on UAE nuclear power plant

Oil up 2% as Trump and Iran's comments dent peace hopes

Oil prices dip as Iran says vessels are crossing Hormuz

Oil prices little changed as Trump heads to China

US consumer prices increase further in April

Oil prices jump on latest US-Iran peace process impasse

Aramco Q1 profit jumps 25% as pipeline at full capacity

Oil up $3 after Trump rejects Iran's response to US plan

Oil pares early gains a day after new US-Iran fighting

Shell's profit beats expectations at $6.9 billion

Oil prices down on Middle East peace hopes

Oil down as US, Iran move close to framework peace deal

Global oil slips but Middle East fighting limits losses

Chevron's upstream strength lifts first-quarter earnings

Exxon beats Q1 earnings estimate despite hit from war

Steady oil prices set for weekly gain as Iran war goes on

What's next for OPEC after the UAE's withdrawal?