BP said market conditions and oil price volatility driven by the war in Iran will affect its financial results for the first quarter of the year. The company expects an exceptional result in oil trading during the first three months of 2026
Brent crude is set to average more than $100 a barrel through 2026 if the Strait of Hormuz remains closed for another month, according to Goldman Sachs
In recent years, refined fuel prices have been adjusted in line with that system, making this decision an exception in response to volatility driven by the war in the Middle East
International Energy Agency (IEA) Executive Director Fatih Birol warned that the current situation is “very serious” and exceeds the energy crises of the 1970s, amid the blockade of the Strait of Hormuz and attacks on energy infrastructure in the Middle East
The International Energy Agency (IEA) agreed to release 400 million barrels from its strategic oil reserves, the largest amount to date, as governments seek to contain the surge in energy prices triggered by the war in the Middle East
G7 countries signaled their readiness to take “all necessary measures” to stabilize hydrocarbon markets, whose prices have surged due to the war in the Middle East, including the possibility of tapping strategic reserves
The head of the International Energy Agency (IEA) said there is ample oil on global markets and that current problems stem from a “temporary logistical disruption” caused by the blockade of the Strait of Hormuz
Oil prices could see further gains in 2026 as geopolitical risks continue to fuel volatility, HSBC said, although the bank added that market fundamentals should cap rallies and keep prices anchored in the mid-$60s range
Oil prices are likely to fall this year as a wave of supply creates a surplus in the market, although geopolitical risks linked to Russia, Venezuela and Iran will continue to fuel volatility, Goldman Sachs said
U.S. President Donald Trump renewed his call for European countries to stop buying Russian oil, arguing that Russia will abandon the war in Ukraine if crude prices drop
