The U. S. economy has seen a solid 2 percent increase in early 2026, even as oil prices have spiked over 60 percent after the Strait of Hormuz shut down. Brent crude, the global standard, climbed from about $70 a barrel in February to around $120 this week. Contracts for July and August deliveries n
Oil prices hit their highest level in four years this week, pushing past $126 per barrel. That surge isn’t just about supply—it’s because of rising fears over potential military action in the Middle East. Reports suggest the U. S. is considering sending advanced weapons to the region, which has kept
Markets around the world showed a split picture today. While most major stock indices moved only slightly, oil prices jumped over three percent, driven by worries about the ongoing conflict in Iran and its impact on the Strait of Hormuz. In the United States, futures for the S&P 500 and the Dow Jon
The global oil benchmark, Brent crude, climbed 4 % to about $109 a barrel for July delivery. Before the conflict in Iran, this grade traded near $72 a barrel. U. S. West Texas Intermediate also jumped more than 4 % to just above $104 a barrel for June delivery. Investors watch the Strait of Ho
On the last Monday of April, a meeting took place in Washington where the U. S. president and his security team reviewed a potential deal with Iran. The proposal suggests keeping the Strait of Hormuz open for oil shipments while postponing talks about Iran’s nuclear program. This idea aims to addres
Oil prices jumped when Iran’s military blocked the Strait of Hormuz after recent attacks. Many countries that normally buy oil from the Middle East rushed to find other energy sources. Instead of waiting for oil supplies to stabilize, they turned to China, the biggest maker of solar panels, batterie
The Dallas Fed asked oil leaders how they would react to the war in Iran. Most said U. S. output will stay flat this year. Only a few expect a rise of up to half a million barrels per day. Only 1 % think production could jump over a million barrels daily. In 2027 the outlook is slightly bette
President Trump’s latest move hits a major Chinese oil plant, the Hengli Petrochemical refinery in Dalian, for dealing with Iranian crude. The decision follows his earlier warning that he would add secondary sanctions to companies and nations trading with Iran, aiming to weaken the Iranian economy.
On April 16, a Ukrainian drone targeted Russia’s Tuapse oil terminal on the Black Sea coast. The attack sparked a four-day blaze that finally died down on April 20, though firefighters still worked to fully snuff out smoldering remains. The terminal, a key export point for Russian oil products, had
Going to the bathroom in space sounds like a basic need, but it turns out even that can cause big headaches. The Artemis II crew recently returned from a trip around the Moon, proving they could handle deep-space travel. Yet their shiny new space toilet, which cost millions to develop, had a tiny fl
