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Oil surges as Trump brands Iran response unacceptable and Strait of Hormuz stays near shut

Oil surges as Trump brands Iran response unacceptable and Strait of Hormuz stays near shut

Oil prices jumped more than $3 a barrel as U.S. and Iran failed to align on Washington’s peace proposal, leaving the Strait of Hormuz largely constrained and global supplies tight. Brent rose to about $104, while West Texas Intermediate climbed to roughly $99. President Donald Trump dismissed Iran’s reply as “unacceptable,” dashing expectations of an imminent ceasefire that could reopen oil transit. Market focus now shifts to Trump’s Beijing visit and whether China can pressure Tehran to reduce disruption.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Trump rejects China help on Iran war as Hormuz shipping tensions escalate fast

Trump rejects China help on Iran war as Hormuz shipping tensions escalate fast

President Donald Trump says the US does not need China’s help to end the Iran war, arguing America will prevail. Meanwhile, Iran is tightening its control of the Strait of Hormuz as US and Iranian demands remain widely mismatched. With a Chinese supertanker attempting passage, the standoff is already rattling global energy markets.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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Ceasefire in the Gulf faces a brutal test as Hormuz tension rises between US and Iran

Ceasefire in the Gulf faces a brutal test as Hormuz tension rises between US and Iran

A fragile ceasefire in the Gulf is under pressure as renewed US-Iran tensions threaten to flare again around the Strait of Hormuz. Any clash could swing the situation between an outright wartime scenario and a prolonged “cold war” standoff—while the biggest immediate risk is disruption to global markets and energy flows.

Summarised by Beize from a story on The Economic Times on 13 May 2026
IEA warns global oil supply to undershoot demand as Iran war bites hard

IEA warns global oil supply to undershoot demand as Iran war bites hard

The International Energy Agency says the global oil market is likely to tighten this year as the Iran war disrupts Middle East production. The IEA estimates major supply losses and forecasts a deficit of about 1.78 million barrels per day by 2026, while demand is expected to soften due to higher prices and an economic slowdown tied to the conflict.

Summarised by Beize from a story on The Economic Times on 13 May 2026
JP Morgan says Brent can stay in low 100s even if Hormuz reopens this June

JP Morgan says Brent can stay in low 100s even if Hormuz reopens this June

JP Morgan revised its oil outlook around the Strait of Hormuz. Even with a base case that assumes a June 1 reopening after a credible announcement confirmed by both sides, the bank expects Brent to remain anchored in the low 100s. The key driver is the projected pace of oil inventory depletion, which should eventually force reopening regardless of timing.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Aramco CEO says Hormuz disruption may keep oil markets volatile until 2027

Aramco CEO says Hormuz disruption may keep oil markets volatile until 2027

Saudi Aramco CEO Amin Nasser warns the Strait of Hormuz crisis could delay the oil market’s recovery until 2027. Persistent disruptions are straining supply chains and keeping prices jumpy, and even a partial reopening would not instantly rebalance global inventories and contracts. Nasser calls the shock the largest of its kind and expects prolonged volatility.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Morgan Stanley warns oil market in race against time as Hormuz closure threatens prices

Morgan Stanley warns oil market in race against time as Hormuz closure threatens prices

Morgan Stanley says global oil markets are in a race against time as the Strait of Hormuz stays shut amid the Iran war. A longer disruption could sharply tighten supplies and lift crude prices. Analysts warn that existing market buffers may weaken further if the closure extends into late June or July, increasing risks for global energy prices.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Oil Jumps 3 Per Barrel as Trump Iran Peace Talks Collapse and Strait of Hormuz Crisis Deepens

Oil Jumps 3 Per Barrel as Trump Iran Peace Talks Collapse and Strait of Hormuz Crisis Deepens

Oil prices surged by more than $3 a barrel after US and Iran failed to agree on a US-drafted peace proposal, ending hopes of ending their ongoing conflict. With the Strait of Hormuz largely closed, global supply risk stayed high. Brent futures rose about 3%, reflecting renewed fears of tighter energy availability ahead.

Summarised by Beize from a story on Republic on 11 May 2026
India keeps refineries running despite Hormuz shock by diversifying crude supply fast

India keeps refineries running despite Hormuz shock by diversifying crude supply fast

India is sustaining strong refinery operations even as Strait of Hormuz tensions disrupt global energy markets. S&P Global Energy says the key has been aggressive crude diversification, shifting purchases across multiple sources and raising significant Russian oil imports. This strategy is helping protect domestic fuel supplies, keeping refineries running at steady, resilient levels despite mounting pressure in the energy system.

Summarised by Beize from a story on The Economic Times on 7 May 2026
Gas prices fall as weaker demand and LNG flows bite Waha Hub rates ahead

Gas prices fall as weaker demand and LNG flows bite Waha Hub rates ahead

US natural gas futures are slipping as demand forecasts soften and LNG export flows ease. Waha Hub prices remain negative, pressured by pipeline limits in the Permian Basin. Producers have cut output amid low spot prices, while storage is still above normal but narrowing. The next moves hinge on weather expectations and ongoing LNG maintenance.

Summarised by Beize from a story on The Economic Times on 5 May 2026

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Brent Crude Drops Below 114 as escort plans ease supply panic and brokerages reset forecasts

Brent Crude Drops Below 114 as escort plans ease supply panic and brokerages reset forecasts

Global oil markets saw a brief cooling move as Brent crude slipped to around $113.93 per barrel, retreating from multi-month highs. WTI also eased to about $104.87, down nearly 1.5%. The pullback is linked to easing supply fears after “Project Freedom” escort developments, prompting brokerages to reassess near-term price pressure and potential India impact.

Summarised by Beize from a story on Republic on 5 May 2026
Oil slips after signs US may loosen Iran grip on Strait of Hormuz

Oil slips after signs US may loosen Iran grip on Strait of Hormuz

Oil prices eased more than 1% after a prior surge of up to 6%, as traders reacted to signs the US Navy may be loosening Iran’s grip on the Strait of Hormuz. The shift follows a US operation launched to counter Iranian pressure, raising hopes of improved Middle East supply and reducing near-term supply risk.

Summarised by Beize from a story on Republic on 5 May 2026
Oil jumps 5 percent as report says US warship was hit in Strait of Hormuz

Oil jumps 5 percent as report says US warship was hit in Strait of Hormuz

Oil prices surged around 5% after Iran’s Fars news agency reported an incident involving a U.S. warship in the Strait of Hormuz. Traders feared the vital route for global crude flows could face a longer disruption, pushing expectations for supply risk higher. The move underscores how quickly geopolitical headlines can jolt energy markets.

Summarised by Beize from a story on The Economic Times on 4 May 2026
Iran cuts oil output as Strait of Hormuz restrictions choke exports and storage fills

Iran cuts oil output as Strait of Hormuz restrictions choke exports and storage fills

Tightened US naval curbs in the Strait of Hormuz have sharply reduced Iran’s oil exports, leaving the country with shrinking routes and surging inventories. Iran is responding by cutting production in a controlled manner and leaning on floating storage to keep barrels moving, drawing on years of experience managing sanctions and supply disruptions.

Summarised by Beize from a story on The Economic Times on 2 May 2026

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Venezuela oil exports surge 14 percent to seven year high after US deal and sanctions easing

Venezuela oil exports surge 14 percent to seven year high after US deal and sanctions easing

Venezuela’s oil exports jumped 14% in April to 1.23 million barrels per day, the highest level in more than seven years. The rise was driven by stronger sales to the US, India, and Europe after a US–Venezuela supply arrangement and eased sanctions. Output improved and inventories were cleared, lifting shipments across multiple markets.

Summarised by Beize from a story on The Economic Times on 1 May 2026
UAE quits OPEC but the real shock may be downstream for oil prices and India supply

UAE quits OPEC but the real shock may be downstream for oil prices and India supply

The UAE has exited OPEC, disrupting a long-standing production alignment that typically steadies global oil markets. While the immediate effect may be muted, the UAE’s increased production capacity could ease prices over time. The move may also trigger reconsideration by other producer states about their OPEC membership, with implications for buyers including India.

Summarised by Beize from a story on The Economic Times on 1 May 2026
UAE to exit OPEC and OPEC+ May 1 as Iran crisis tightens oil supply fears

UAE to exit OPEC and OPEC+ May 1 as Iran crisis tightens oil supply fears

The UAE says it will exit OPEC and OPEC+ effective May 1, sending another jolt through an already tight global energy market. The decision comes as tensions around the Iran conflict and the Strait of Hormuz raise fears of severe supply disruptions. With OPEC and OPEC+ shaping nearly half of global output, the move threatens fresh volatility for crude prices.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
Trump praises UAE quitting OPEC and OPEC+ saying it could push oil prices lower fast

Trump praises UAE quitting OPEC and OPEC+ saying it could push oil prices lower fast

US President Donald Trump on April 30 welcomed the UAE’s decision to leave the OPEC and OPEC+ alliance, saying the shift could help lower global oil and gas prices. Trump praised UAE leadership and framed the move as a smart strategy, while linking the development directly to potential price relief for markets worldwide.

Summarised by Beize from a story on Republic on 30 Apr 2026

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US oil ETF hits 2015 high as shipping costs surge and investors shift focus beyond oil

US oil ETF hits 2015 high as shipping costs surge and investors shift focus beyond oil

US oil-linked ETFs are climbing to levels not seen since 2015 as global tensions push energy prices higher. But the twist is shipping costs: an ETF tied to oil transport is also accelerating, signaling investors are rethinking risk and returns around how fuel moves, not only what it costs at the pump or well.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
Oil jumps nearly 3% as US Iran peace talks stall and Hormuz shipments stay limited

Oil jumps nearly 3% as US Iran peace talks stall and Hormuz shipments stay limited

Oil prices rose almost 3% as US-Iran peace talks stalled and limited shipments through the Strait of Hormuz tightened global supply. Traders turned cautious, pricing in the risk that disruptions could persist even without a major escalation. With tanker flows constrained, crude markets found support from supply concerns and uncertainty over negotiations.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
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