'Let the oil flow': Crude prices down to $81.15 as US, Iran announce 'immediate end' to hostilities

Global oil prices fell sharply after Iranian and US officials signalled progress in negotiations to end the conflict that has disrupted energy markets for months. Brent crude briefly dropped below $86 a barrel as investors bet that risks to Middle Eastern oil supplies could soon ease.

Oil prices tumble as Iran, US signal breakthrough in war-ending talks

Oil prices have fallen, but the risk of a rebound remains as global market volatility continues. In the US, inflation is accelerating while real incomes are declining, putting pressure on household purchasing power. Meanwhile, the eurozone is also experiencing rising inflation, prompting the European Central Bank to consider tighter monetary policy to stabilize prices. At the same time, the European Union is responding to increasing competitive pressure from China across key industries. In East Asia, artificial intelligence is emerging as a major driver of economic growth, boosting productivity and reshaping regional economic momentum.


Global Economic Health: Market Moves in June 1 Week

US President Donald Trump has said that gas prices will fall sharply once the Iran war comes to an end, expressing confidence that energy costs will stabilise quickly. Trump dismissed concerns over prolonged high fuel prices, insisting they would “drop like a rock” after the conflict ends.

US-Iran War: Donald Trump Predicts Rapid Drop in Gas Prices Post-Iran War

Why is the USS Gerald R. Ford heading home after a record 309 days at sea, right in the middle of the US blockade of Iran? Hint: It's not because the US blockade is ending. All you need to know.

USS Gerald R. Ford to leave Mideast; Why is US Navy’s most advanced carrier abandoning Iran blockade and coming home? | In Pics

Iran’s Parliament Speaker rejects Donald Trump’s claims about imminent oil infrastructure explosions, escalating a dispute over sanctions, oil markets, and global energy policy.

'Next stop $140': Ghalibaf fires back at Trump’s oil 'explosion' claims, says 'no oil well has exploded'

Oil prices stayed above $100 a barrel for the second straight day as the Hormuz deadlock weighed on sentiment despite an extension to the truce. Traffic through Hormuz is at a near standstill after the waterway’s brief and confused reopening, driving wild swings in crude markets.

Oil Price Tracker: Crude Tests $100 Per Barrel Mark

The oil war in the Gulf is now being fought on a quieter front—insurance. Even as movement resumes through the Strait of Hormuz, the cost of transporting crude has surged sharply.


Oil Crisis: Insurance Costs Surge in Gulf Oil Routes 

The United States has extended a one-month sanctions waiver for Russian crude that was already on ships. And for India, that matters more than it might look at first glance. All you need to know.

US extends Russian oil sanctions waiver despite Scott Bessent's pledge not to. What does it mean for India?

Asian stocks slid while oil surged past $100 after Donald Trump threatened Iran’s key oil hub. With investors rattled, how serious is this latest warning?

Scroll down to read more.

Markets rattled, oil prices up as Trump threatens to destroy Kharg Island amid Iran war

The French government has pledged targeted support for industries hit by surging fuel prices linked to tensions in the Middle East, while warning that broad, across-the-board financial relief is no longer sustainable. This comes as truck and bus drivers drivers staged a "go slow" protest in Paris.


France's Transport Industry Stages Go-slow Protest in Paris

Nearly a month in, the US-Iran-Israel war shows no signs of slowing. Diplomacy is stalled, oil markets are rattled, and the Strait of Hormuz hangs in the balance. Follow WION blog for all live updates.

US-Iran-Israel war Highlights | PM Modi reviews West Asia crisis with Chief Ministers

Explosion rocks one of America’s largest oil refineries - Valero Port Arthur Refinery, as global prices surge amid the Iran war. With 435,000 barrels at risk and black smoke over Texas, fears of a supply shock grow. What does this mean for energy markets? Scroll down.

Massive blast rocks Valero’s Port Arthur refinery amid Iran blockade of Strait of Hormuz—is the US energy hub under attack?

The US has allowed the sale of Iranian oil at sea in its latest effort to counter rising oil prices due to the escalating West Asia war. The treasury department waived sanctions on Iranian oil that have already been loaded onto tankers through to April 19th. This measure follows similar decision on Russian oil on the water.


Can Iranian Oil Offset the Oil Supply Deficit?

The developing world is feeling the effects of the West Asia war. The historic energy crisis is likely to cause few emerging economies to seek further assistance, or tweak the existing bailout programs from the international monetary fund.


Energy Crisis: Vulnerable Countries Face Funding Risk

As the gulf fallout sends shockwaves through global energy markets, governments across the world are scrambling to protect their economies from severe fuel shortages. Here’s your visual guide to how the world is responding to the global energy crisis.
Take a look.


How Nations Are Shielding Fuel Supply

Iran war day 21: US President Donald Trump declares a 30-day waiver on Iranian oil. With 140 million barrels of oil unlocked, does this mean the end of the global energy crisis? How will this bankrupt Tehran? All you need to know.

US's oil gambit: How Trump is using Iranian crude to bankrupt Tehran amid Strait of Hormuz blockade | In Pics

US announced a 30-day "waiver" allowing the sale of Iranian crude already loaded on vessels (as of March 20). The goal? Release 140 million barrels immediately to stabilise a market rattled by Strait of Hormuz closure. The Catch: Iran is blocked from accessing the revenue.

'Using their barrels against them': Trump floods market with Iranian oil to crash global prices, issues 30-day sanctions waiver

A new report warns that global oil prices could surge to $180 per barrel if disruptions in the Gulf persist amid the ongoing US-Iran conflict. The warning comes as supply risks intensify around the Strait of Hormuz, a critical global oil chokepoint. In response, Saudi Arabia is ramping up exports through the Red Sea route, aiming to bypass vulnerable Gulf shipping lanes and stabilise supply.


Report: Saudi Flags $180 Oil if Disruption Extends; Saudi Boosts Exports Via Red Sea Route 

A massive global energy shock is rippling across economies after Iran’s move to shut down the Strait of Hormuz, a route that carries nearly 20% of the world’s oil and LNG supply. With crude prices surging past 100 dollars a barrel, governments are now scrambling to rethink energy security, diversify supplies, and accelerate the shift away from fossil fuels.


Hormuz Crisis Triggers Global Energy Shock 

Global oil prices surged past $100 per barrel as the US-Israel war with Iran entered its third week, raising fears of supply disruption through the Strait of Hormuz and triggering volatility in energy markets.

Oil prices cross $105 per barrel first time since Russia's Ukraine invasion

India has developed multiple strategies to manage global oil price shocks while keeping petrol and diesel prices relatively stable for consumers. The Government of India uses a mix of diversified crude imports, strategic reserves, tax adjustments, and coordination with public sector oil companies to cushion the impact of volatile global markets.


How India Balances Oil Shocks While Keeping Fuel Prices Steady

Ali Larijani's statement came days after the American leader threatened to destroy the power generation capacity of Iran within an hour, but expressed hope that this would not be necessary.

'Middle East will go dark': Iran warns US over threat to destroy power grid

In its latest monthly report, the International Energy Agency warned global oil supply could go down by 8 million barrels a day in March as the Iran war disrupts flows through the Strait of Hormuz. Brent crude is above $100 despite a record 400-million-barrel emergency release by IAE members.

Down by 8 million barrels a day: IEA issues ominous warning on oil supplies amid Iran war, hours after largest ever stock release

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'Let the oil flow': Crude prices down to $81.15 as US, Iran announce 'immediate end' to hostilities

Oil prices tumble as Iran, US signal breakthrough in war-ending talks

Global Economic Health: Market Moves in June 1 Week

US-Iran War: Donald Trump Predicts Rapid Drop in Gas Prices Post-Iran War

USS Gerald R. Ford to leave Mideast; Why is it abandoning Iran blockade?

Ghalibaf responds to Trump: 'No oil well has exploded' amid sanctions dispute

Oil Price Tracker: Crude Tests $100 Per Barrel Mark

Oil Crisis: Insurance Costs Surge in Gulf Oil Routes

US issues another Russian oil sanctions waiver. What does it mean for India?

Markets rattled, oil prices up as Trump threatens to destroy Iran's Kharg Island

France's Transport Industry Stages Go-slow Protest in Paris

Iran war Highlights: PM Modi reviews West Asia crisis with Chief Ministers

Massive blast rocks US' Valero refinery—is the US energy hub under attack? VIDEO