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The Strait of Hormuz, a critical oil shipping route, has significantly reduced traffic to about 2 ships per day due to Iran's conditional passage policies, potentially disrupting global oil supplies.

Oil loading operations at UAE's Fujairah have resumed after a fire caused by debris from an intercepted drone disrupted operations, potentially easing supply concerns in the global oil market.

A drone attack and fire in the port of Fujairah has suspended some oil loading operations, potentially disrupting global oil supplies and impacting energy markets.

A strike on Iran's oil hub raises the risk of further disruptions to global oil supplies, exacerbating existing market tensions from the Middle East conflict.

The US waiver allows for the purchase of 19 million barrels of Russian oil, potentially increasing global oil supply and impacting energy markets.

The U.S.

Iran's IRGC warns of a potential wider energy crisis in the Middle East if its oil facilities are targeted, threatening to attack oil and gas infrastructure linked to the US and its allies.

Two oil tankers were attacked in Iraqi waters, prompting the suspension of the nation's oil terminals, which may lead to supply disruptions and impact global oil prices.

Oil prices extended their advance for a second day due to escalating Iran war rhetoric, outweighing the impact of an emergency crude reserve release by wealthy nations.

Oil prices surged by 8% to $84 as supply risks and Middle East conflict fears materialized, with Brent Crude reaching $84.24 and WTI Crude trading at $76.93.

Oil prices surged due to escalating Middle East conflict, with Brent futures breaking the $80 mark and WTI futures climbing past $72.

Oil prices have declined from a seven-month high due to a record US inventory build and fading war premium, following diplomatic efforts between the US and Iran.