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Iraqi Oil Prices Decline in Global Markets

Iraqi oil prices recorded a decline today, Monday (May 4, 2026), during weekly trading in the global market.According to market data, Basra Medium crude rose to $123.57 per barrel, while Basra Heavy c...

Oil Prices Continue Rising for Seventh Consecutive Day as Strait of Hormuz Remains Closed

Oil prices continued their upward trend for the seventh consecutive day, with the Strait of Hormuz remaining closed. The strait typically handles approximately 20% of global oil and gas consumption.Br...

Strait of Hormuz: The Chokepoint Pushing Oil Prices to Record Highs

Bloomberg network highlighted the impact of security disturbances near the Strait of Hormuz, through which a fifth of the world's oil consumption passes. The report, based on IMF data, noted that fear...

Sharp Decline in Global Oil Prices Amid Expectations of Shipping Lane Breakthroughs

Global energy markets witnessed a noticeable and sharp decline in oil prices, with Brent crude futures plunging by more than $14 to settle near the $94 per barrel mark. This sudden drop is driven by t...

Global Oil Prices Stabilize Amid Anticipation of Upcoming OPEC+ Decisions

Global oil markets witnessed a state of relative stability in recent trading, with Brent crude prices holding above $80 per barrel. This calm comes as investors await the next OPEC+ meeting, amid expe...