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A cargo ship in the Gulf, near the Strait of Hormuz
Apr 17, 2026

Oil falls by over 11% after Iran FM declares Strait of Hormuz open

Oil prices fell as U.S.-Iran talks and a 10-day israel-lebanon ceasefire raise hopes for peace in the middle east, impacting global oil markets.

A satellite view of smoke billowing at a Saudi Aramco oil facility after a reported attack, following the announcement of a two-week ceasefire in the Iran war, in Abqaiq, Saudi Arabia April 8, 2026. European Union/Copernicus Sentinel-2/Handout via REUTERS
Apr 10, 2026

Oil set for largest weekly loss in 10 months after ceasefire

Oil prices face biggest weekly drop since last June despite supply concerns from Saudi Arabia and restricted flows through the Strait of Hormuz.

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