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Photo of the smoking tanker from the News Agency Of The (IRIB) Islamic Republic of Iran Broadcasting (iribnews)

Oil is surging after a suspected torpedo attack on 2 tankers in the Gulf of Oman

Oil prices jumped at least 3% as traders feared Middle-Eastern tensions could reduce crude supplies.

Oil set for strongest quarter in a decade on OPEC-led cuts and trade talk optimism

Bullishness on a trade deal between the US and China, and supply cuts resulting from US sanctions on Iran and Venezuela have sent prices higher.

Venezuela’s falling oil supply is a major ‘challenge’ to global energy markets

A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a "challenge" for global oil markets.
Both Brent crude and WTO are posting big gains.

Oil is set for its longest winning streak in 30 years as traders bask in improved US-China sentiment

Stock market wobbles have grabbed all the attention, but oil has had a stunning rally into the new year, helped by signs the trade war is thawing.
Saudi Arabian Energy Minister Khalid al-Falih talks to the media at the OPEC Ministerial Monitoring Committee in Algiers, Algeria.

Oil surges after OPEC and Russia agree to production cut

OPEC+ has agreed to cut production by 1.2 million barrels a day, reducing tensions around crude oil prices after days of fractious discussion in Vienna.

Oil plunges as OPEC tries to balance supply concerns with Trump’s demands

A geopolitical price war rages in the background of OPEC's summit between moderate cuts to production while appeasing President's Trump and Putin.
Russian Prime Minister Vladimir Putin smiles, with his face smeared with crude oil, during a visit to a Lukoil oil platform.

Oil is taking a hit after US inventories gain while Putin says prices are ‘absolutely fine’

Brent Crude dropped below $60, down 1.6%, after data showed US inventories grew, while Russia indicated it has limited interest in cutting supply.

Oil looks set to break its record losing streak, but analysts warn it may still drop below $50

"It's not too long ago that people were talking about the prospect of $100 a barrel oil but that now feels like a distant memory," one analyst said.
Fracking In California Under Spotlight As Some Local Municipalities Issue Bans

Oil crashes more than 20% from October highs despite Trump’s Iran sanctions

Brent crude prices fell to multimonth lows Friday as concerns about supply fears caused by US sanctions on Iran waned.

Oil approaches $82 as Iran sanctions continue to drive supply fears

"Without sounding like a broken record, Oil prices remain in the bulls' domain amid concern that US sanctions on Iranian crude oil exports will result in much tighter physical market conditions once they take effect in November," Stephen Innes, head of trading for Asia at OANDA said.