Erdogan calls for reopening of the Strait of Hormuz as Turkey builds pipeline backup
Turkish President Recep Tayyip Erdogan urged the reopening of the Strait of Hormuz, closed to shipping since late February 2026,…
Oil News (WTI)
Latest WTI crude oil news — price movements, OPEC+ production decisions, US inventory data and energy market analysis.
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Oil majors post $93 billion combined profit as Hormuz closure disrupts supply
Eight major oil companies posted almost $93 billion in combined profit between April and June 2026, nearly double the same…
US sanctions Chinese refinery for buying Iranian crude as blockade and stalled nuclear talks keep oil supply risk high
The US Treasury has sanctioned a major Chinese refinery for buying Iranian crude, an ongoing naval blockade is pushing Iran's…
Iran Claims It Has Expelled US Forces From the Strait of Hormuz
Iran's army commander, Hatami, says U.S. forces have been expelled from the Persian Gulf, the Gulf of Oman, and the…
US Strategic Petroleum Reserve Falls to Lowest Level Since 1983
The U.S. Strategic Petroleum Reserve has fallen under 300 million barrels, its lowest level since 1983. Prediction markets have nudged…
