Oil prices news
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Oil drops as Iran sends updated proposal, but Trump says offer falls short
Crude prices retreated after Pakistani officials said mediators received Tehran’s latest proposal, while the White House argued a War Powers deadline no longer applies
USS Gerald R. Ford expected to leave Middle East as Iran war costs rise
A U.S. official confirmed the carrier strike group is expected to head home in the coming days, while a Pentagon official put the war’s cost so far at about $25 billion
Why Trump’s Iran blockade may not break Tehran’s oil industry this week
Analysts say Iran has enough storage to avoid the immediate field damage Trump warned about, even as the blockade squeezes revenue and drives up oil prices
Brent crude jumps to $119 as Iran blockade fears deepen
The benchmark rose nearly 7% Wednesday after reports the U.S. is preparing to extend pressure on Iranian ports while traffic through the Strait of Hormuz remains heavily disrupted
Hormuz remains in limbo as Trump weighs Iran offer
Brent crude topped $112 a barrel and U.S. gasoline prices hit a wartime high as Washington considers a proposal tied to the strait but not nuclear talks
Oil rises as U.S.-Iran talks stall over Hormuz and nuclear demands
Brent crude climbed above $109 before easing, with no clear breakthrough on reopening the Strait of Hormuz or resolving Washington’s dispute with Tehran over its nuclear program
U.S.-Iran talks in limbo as Trump extends ceasefire but keeps port blockade
A proposed meeting in Pakistan remains unconfirmed by Tehran as the Strait of Hormuz stays largely shut and oil nears $95 a barrel