The news. The narrative. The timeline.
Futures hit $102 and the headlines wrote themselves, but European and Asian refiners are paying near $150 for physical crude — a gap that reveals the real market stress.
A $35 gap between physical and futures oil prices shows a market pricing a much deeper supply shock than the headline contracts admit.
Hungary's election ousted Orbán and removed the single veto blocking €90B for Kyiv.
The greenback rose 0.38% after blockade news, because in this war every escalation sends money fleeing to the same address.
The president who promised cheap gas now says prices could be 'the same, or maybe a little bit higher' by November.
The first Indian ship to transit Hormuz since the US-Iran ceasefire carries 20,400 tonnes of LPG and 24 souls.
Two Pakistan-flagged tankers reversed course at the mouth of Hormuz — the blockade is already working before it starts.
March saw the biggest single-month OPEC production drop in recorded history — and it was forced by war, not policy.
IATA's chief says damaged refineries mean jet fuel markets won't normalize for months — oil falling helps, but not enough.
Iran's toll booth at the world's most critical oil chokepoint now operates in yuan and stablecoins — and Beijing is fine with it.
The only export route bypassing Hormuz is back to full capacity after a strike cut 700,000 barrels per day.