market-update

WTI slides 4.7% to $90.22 as Hormuz shipping halts to near-zero; Rosneft and Tuapse refineries offline; demand-destruction fears dominate despite acute supply disruptions.

WTI crude plunged $5.40 (5.9%) to $85.89 on Monday, April 20, extending last week's softness as a combination of geopolitical relief and macro pressure weighed on global oil benchmarks. Brent slipped $0.65 to $94.28 — a narrowing spread that reflects U.S.-specific selling

Crude oil prices suffered one of their steepest single-session drops in years on Friday afternoon as Iran's announcement that the Strait of Hormuz is open to commercial shipping triggered a massive wave of long-side liquidation across energy markets. Hormuz Declared Open — WTI Crashes Nearly 10% According

U.S. crude oil surged Thursday after diplomatic signals out of Washington suggested the months-long Iran standoff may be approaching a negotiated exit. According to Hart Energy, WTI settled up 3.72% at $94.69/bbl and Brent closed at $99.39/bbl, up 4.7% on the day

The United States escalated its energy sanctions campaign on Wednesday, with Treasury Secretary Scott Bessent announcing that the U.S. will not renew the waivers that previously allowed certain purchases of Iranian and Russian oil without triggering American sanctions — a move with significant implications for global crude supply and U.

Crude markets posted their sharpest single-session decline in weeks on Tuesday as a formal U.S. naval blockade against Iran took effect, rattling global supply chains and triggering a steep selloff in WTI and Brent futures. U.S. Blockade on Iran Now in Force — Markets Whipsaw According to OilPrice.