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The Latest Breaking News from OPEC

Current price of oil as of May 22, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Tumble on Hopes for Iran Peace Progress

July WTI crude oil (CLN26 ) on Thursday closed down -1.91 (-1.94%), and July RBOB gasoline (RBN26 ) closed down -0.1073 (-3.17%). Crude oil and gasoline prices erased an early rally on Thursday and settled sharply lower, with gasoline falling to a 2-week low. Crude prices tumbled on hopes that...

Barchart

OPEC+ leaders expected to up July oil output target despite Hormuz disruption, sources say

Seven key OPEC+ oil nations are poised to increase July output by approximately 188,000 barrels per day. This decision comes as the group meets on June 7. Despite ongoing disruptions from the Iran war, OPEC+ has been raising its monthly targets since April. The United Arab Emirates' recent departure from…

The Economic Times

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Crude Oil Prices Jump on Doubts the Strait of Hormuz Will Reopen

July WTI crude oil (CLN26 ) today is up +3.14 (+3.20%), and July RBOB gasoline (RBN26 ) is up +0.0321 (+0.95%). Crude oil and gasoline prices are moving sharply higher today as the standoff between the US and Iran is fueling concerns that a prolonged closure of the Strait of...

Barchart

Current price of oil as of May 21, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Plummet on Speculation Strait of Hormuz Could Soon Reopen

July WTI crude oil (CLN26 ) on Wednesday closed down -5.89 (-5.66%), and July RBOB gasoline (RBN26 ) closed down -0.1911 (-5.35%). Crude oil and gasoline prices plunged on Wednesday, with gasoline falling to a 1.5-week low. Crude price plummeted on Wednesday after President Trump said the US is in...

Barchart

Crude Oil Prices Tumble on Hopes the Iran War Could Soon End

July WTI crude oil (CLN26 ) today is down -4.43 (-4.25%), and July RBOB gasoline (RBN26 ) is down -0.1264 (-3.54%). Crude oil and gasoline prices are falling sharply today on optimism that diplomacy may finally end the Iran war and reopen the Strait of Hormuz. Crude prices remained sharply...

Barchart

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Current price of oil as of May 20, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Saudi Arabia March crude exports drop to lowest on record, JODI says

Saudi Arabia's oil exports and production reached historic lows in March. The ongoing Iran war has severely impacted global energy markets. This conflict disrupted key shipping routes, affecting oil flows from the Gulf. Saudi Arabia is facing challenges in delivering its crude to international markets. Global oil demand forecasts have…

The Economic Times

Crude Oil Prices Slip on Diplomatic Hopes to End Iran War

June WTI crude oil (CLM26 ) on Tuesday closed down -0.89 (-0.82%), and June RBOB gasoline (RBM26 ) closed down -0.0645 (-1.72%). Crude oil and gasoline prices retreated on Tuesday after the dollar index ($DXY ) jumped to a 6-week high. Crude prices also moved lower after President Trump late...

Barchart

Is the Gulf losing its grip on the oil world?

One of the most striking features of the Iran war has been the resilience of the global oil market. Despite the disruption of flows through the Strait of Hormuz, the world’s most important oil transit chokepoint, prices have generally hovered around US$100 (£75) per barrel – a lower level than…

The Conversation

Crude Oil Prices Pressured on Hopes Diplomacy Can End US-Iran War

June WTI crude oil (CLM26 ) today is down -0.45 (-0.41%), and June RBOB gasoline (RBM26 ) is down -0.0885 (-2.35%). Crude oil and gasoline prices are under pressure today from a stronger dollar, as the dollar index ($DXY ) jumped to a 6-week high. Crude prices are also moving...

Barchart

Current price of oil as of May 19, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Finish Sharply Higher Amid Tightening Global Supplies

June WTI crude oil (CLM26 ) on Monday closed up +3.24 (+3.07%), and June RBOB gasoline (RBM26 ) closed up +0.0588 (+1.59%). Crude oil and gasoline prices rallied sharply on Monday, with crude posting a 3-week high and gasoline posting a nearly 4-year nearest-futures high. Crude prices soared on Monday...

Barchart

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International Business Times

EU To Downgrade Growth Forecast Due To 'Stagflationary Shock' From Iran War

The European Union will cut its growth forecast as a result of the "stagflationary shock" from the Iran war, its economy commissioner said.

Barchart

Crude Oil Prices Underpinned by Lack of Progress in US-Iran Peace Negotiations

June WTI crude oil (CLM26 ) today is up +1.44 (+1.38%), and June RBOB gasoline (RBM26 ) is up +0.0441 (+1.19%). Crude oil and gasoline prices rallied to 2-week highs today as doubts about the progress of peace negotiations to end the US-Iran war keep the Strait of Hormuz closed...

International Business Times

Commercial Oil Inventories Depleting Rapidly With Only a Few Worth Left, IEA Head Says

Commercial oil inventories are being quickly depleted and there are only a few weeks worth left of them, International Energy Agency Fatih Birol warned.

Fortune

Current price of oil as of May 18, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

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International Business Times UK

UAE Plans to Bypass the Strait of Hormuz to Export Oil Via the Gulf of Oman with an Ingenious Unexpected Plan

The UAE is expediting its oil pipeline expansion to bypass the Strait of Hormuz, enhancing export capacity and energy security amid regional tensions threatening global energy corridors.

Barchart

Crude Oil Prices Surge on Concern of a Prolonged Disruption to Global Supplies

June WTI crude oil (CLM26 ) on Friday closed up +4.25 (+4.20%), and June RBOB gasoline (RBM26 ) closed up +0.0962 (+2.67%). Crude oil and gasoline prices rallied sharply on Friday, with crude posting a 1.5-week high. Crude prices are surging as the lack of negotiations to end the US-Iran...

Barchart

Crude Oil Prices Surge as Global Supplies Continue to Tighten

June WTI crude oil (CLM26 ) today is up +3.55 (+3.51%), and June RBOB gasoline (RBM26 ) is up +0.0801 (+2.22%). Crude oil and gasoline prices are moving sharply higher today as US-Iran war negotiations are at an impasse, keeping the Strait of Hormuz closed and tightening global oil supplies....

International Business Times

UAE To Speed Up Construction Of a New Pipeline As Hormuz Strait Remains Closed

The UAE will speed up the construction of a new oil pipeline to bypass the Strait of Hormuz, which remains closed as hostilities between the U.S. and Iran continue.

Fortune

Current price of oil as of May 15, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Barchart

Crude Oil Prices Supported by Closure of Hormuz

June WTI crude oil (CLM26 ) on Thursday closed up +0.15 (+0.15%), and June RBOB gasoline (RBM26 ) closed down -0.0130 (-0.36%). Crude oil and gasoline prices settled mixed on Thursday. Crude prices pushed higher on Thursday as peace talks between the US and Iran remain in limbo, keeping global...

Barchart

Crude Oil Prices Slip on Dollar Strength

June WTI crude oil (CLM26 ) today is down -0.19 (-0.19%), and June RBOB gasoline (RBM26 ) is down -0.0534 (-1.48%). Crude oil and gasoline prices are under pressure today from a rally in the dollar index ($DXY ) to a 2-week high. Also, signs that OPEC+ may boost its...

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