Crude Oil News

Oil prices fluctuate as investors weigh falling demand against Middle East tensions https://www.cnbc.com/2026/08/13/oil-spill-near-oman-worries-over-supply-.html Oil futures retreated early Wednesday morning after prices rose overnight.

Japan wholesale inflation eases slightly to 7.2%, undershooting expectations https://www.cnbc.com/2026/08/13/japan-ppi-inflation-energy-prices-takaichi-cpi.html The PPI reading was lower than the 7.4% expected by economists polled by Reuters, and was down from a revised 7.3% seen in June.

Crude Steady as Iran Risks Persist https://www.rigzone.com/news/wire/crude_steady_as_iran_risks_persist-12-aug-2026-184362-article/?rss=true Crude prices were little changed as stalled Hormuz negotiations offset a massive increase in US oil inventories.

Saudi Arabia ramps up oil exports through Mediterranean pipeline to avoid attacks in Red Sea https://www.cnbc.com/2026/08/12/saudi-arabia-iran-oil-red-sea-houthi-suez-canal-strait-hormuz.html Oil exports from Egypt's Mediterranean port of Sidi Kerir have more than doubled. The crude is mostly from Saudi Arabia, according to Kpler.

Strait of Hormuz ship traffic near three-month low as U.S.-Iran deal in doubt https://www.cnbc.com/2026/08/12/strait-hormuz-ship-traffic-iran-war-deal.html Traffic is about 90% lower than the daily average of 130 ships that transited Hormuz before the U.S. and Israel attacked Iran on Feb. 28.