Iraq seeks quota review as OPEC restores output allocations

Iraq's Oil Ministry said on Friday that OPEC has begun gradually restoring ​Iraq's pre-war production allocations, a move it said ‌would strengthen Iraq's output capacity and support recovery of its oil sector.

Reuters • 17 hours ago

Oil slides nearly 2% as markets look past fresh Iran tensions and focus on supply outlook

A U.S. official told MS NOW that Iran was behind an attack on a cargo ship near the coast of Oman in the Strait of Hormuz. Tensions in the Middle East also rose a notch, with Iran and the U.S. disagreeing over the use of funds listed in the MOU.

CNBC • Jun 26, 2026

US crude oil falls below $70 a barrel despite Iranian attack on cargo ship

US crude oil dipped below $70 a barrel Friday as traders remained optimistic about tanker traffic flow through the Strait of Hormuz – even after an Iranian attack on a cargo ship paused a large-scale evacuation.

New York Post • 20 hours ago

WTI Dips Below $70 a Barrel Despite Continued Confusion in the Strait of Hormuz. Are Oil Stocks Still Worth Buying Now?

Oil is down even though Iran continues to restrict traffic through the Strait of Hormuz. Many oil companies initially expected to thrive this year if oil averaged $70 a barrel.

The Motley Fool • 15 hours ago

Oil heads for another losing week, but analyst warns sluggish Strait of Hormuz traffic could send price soaring again

Iran warned on Thursday that vessels not following approved routes would be be dealt with ‘accordingly,' and a U.N. organization paused ship-evacuation efforts at the strait.

Market Watch • a day ago

U.S. Strikes Iran In Retaliation For Hit On Cargo Ship — Amid Fragile Ceasefire

U.S. crude oil dropped below $70 following the attack on the cargo ship, as more tankers reportedly navigated through the strait successfully. U.S. crude oil prices are now down over 26% in the last month, continuing to fall after the start of the U.S.-Iran war in February spiked costs.

Forbes • 12 hours ago

Oil may no longer pose the same threat to the global economy — but another risk ‘may be around the corner,' says Citigroup

Economists at the investment bank wrote that an El Niño could disrupt agriculture, infrastructure and productivity

Market Watch • 21 hours ago

Natural Gas and Oil Forecast: Truce Stability vs Supply Surge — Will Oil Collapse or NatGas Lead?

One month-plus into the truce, supply-demand dynamics dominate as US production stays robust. WTI slides to $70.45 after triangle violation, Brent defends $74.12 support, and Natural Gas trades at $3.286.

FXEmpire • Jun 26, 2026

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 3.5% As Traders Shrug Off Iran's Attack On Ship In Hormuz

Oil markets are losing ground as traders bet that oil exports through the Strait of Hormuz will increase.

FXEmpire • 15 hours ago

Crude Oil Price Analysis – Oil Continues to Struggle on Friday

The crude oil market continues to see a lot of negative pressure, as we are hanging around the pre-war levels, as peace now seems likely in the Middle East.

FXEmpire • 20 hours ago