Crude Oil
May 12 – June 1, 2026 Updated Jun 1
Every published chapter of The Fold's coverage of Crude Oil, in one place — oldest to newest, updated as the story develops.
Brent above $107 as Saudi Aramco CEO warns of 100 million barrels lost weekly
Brent crude traded above $107 a barrel on Tuesday, up about 3.2 per cent on the day, after Trump rejected Iran's ceasefire counter-proposal overnight. Saudi Aramco CEO Amin Nasser warned that global oil markets are losing roughly 100 million barrels of supply each week.
Brent slides $3 toward $107 as Chinese tankers restore partial Hormuz flow
Brent crude eased $3 a barrel to settle near $107.80 by mid-morning London time as shipping data confirmed that Chinese supertankers had successfully transited the Strait of Hormuz through Iran's permit corridor.
Brent jumps 3% to $99.58 as Iran threats over Hormuz tolls reverberate
Brent crude futures settled at $99.58 a barrel, up more than 3 percent, after US strikes on Iranian IRGC assets and Iranian foreign ministry comments that Strait of Hormuz transit “will have costs”. WTI, more exposed to US domestic supply, fell nearly 3 percent to $93.89.
WTI tumbles 6 per cent below $89 after Iran signals month-long timeline to restore Hormuz traffic
WTI crude oil futures fell 6 per cent to $88.3 a barrel on Wednesday and Brent slid to $93.40 after Iranian state television said Tehran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month. Crude is now down sixteen per cent on the month.
Brent rebounds to $97 and WTI above $91 as Iran MoU language leaves traders unsure
Brent crude futures rose 3.4 per cent to $97.10 a barrel on Thursday and WTI added 3.7 per cent to $91.55, reversing most of Wednesday's six-per-cent slide. Traders read President Trump's "not satisfied" framing of the Iran memorandum as keeping the deal's collapse risk on the table.
Brent posts worst month in six years as traders bet on a US-Iran deal
Brent crude fell sharply in May, posting its biggest monthly loss in six years as markets priced in a US-Iran ceasefire that would reopen the Strait of Hormuz to shipping. Prices slipped further on Friday, with Brent settling near $92 a barrel and West Texas Intermediate around $87.
Oil jumps as Iran halts US talks and threatens Hormuz closure
Crude prices surged on Monday after Iran said it was suspending negotiations with the United States and would move to close the Strait of Hormuz. West Texas Intermediate climbed about 7% to around $94 a barrel and Brent rose roughly 6% to near $97, reversing recent declines that had followed hopes of a ceasefire deal.