Retraction. Starting in June 2026, The Fold published a storyline reporting that Iran's Supreme Leader Ali Khamenei was assassinated on February 28, that his son Mojtaba Khamenei was installed as his successor, and that a US-Iran war, ceasefire, and Doha diplomatic process followed — including in this article. We have found no independent, verifiable reporting supporting these specific claims. The storyline originated as an error in our automated drafting process: an early chapter generated these details without a real source, and later chapters treated the invented premise as established fact instead of catching the error. We do not have independent knowledge of Mr. Khamenei's actual status and are not asserting an alternative account — we are withdrawing our own reporting because we cannot stand behind it. See our corrections log.
Storyline 6 chapters

Oil Prices

May 15 – June 27, 2026 Updated Jun 27

Every published chapter of The Fold's coverage of Oil Prices, in one place — oldest to newest, updated as the story develops.

Market News

Brent crude climbs above $106 with weekly gain near 5% on Hormuz fears

Brent crude futures rose above $106 a barrel on Friday and were on track for a weekly gain of more than 5%. Renewed incidents near the Strait of Hormuz kept the key shipping route effectively closed.

Market News

Oil prices retreat after overnight spike eases pressure on bond markets

Crude prices climbed sharply overnight before retreating on Monday, helping steady global stock and bond markets. Oil has remained elevated since the closure of the Strait of Hormuz, and swings in the price have become a key driver of moves in government debt.

Market News

Oil jumps as Khamenei orders enriched uranium kept inside Iran

West Texas Intermediate crude climbed 2.3 per cent to $100.50 a barrel and Brent rose 1.8 per cent to $106.90 after Reuters reported that Iran's supreme leader had directed his government to keep enriched uranium stocks inside the country, complicating US-mediated talks aimed at ending the war.

Market News

Oil drops 5% as Iran deal framework points to Hormuz reopening

Brent crude futures fell roughly 5 per cent toward $98 a barrel and West Texas Intermediate dropped about 5 per cent toward $91 in Monday trading after a US-Iran ceasefire framework circulated over the weekend with provisions to reopen the Strait of Hormuz.

Market News

Oil falls Friday but ends week higher as Hormuz risk lingers

Brent crude slipped below $94 a barrel and WTI toward $91 on Friday, falling about 3% as traders weighed signs of progress in U.S.-Iran talks. Both benchmarks still held weekly gains after renewed clashes near the Strait of Hormuz.

Market News Latest

Oil falls below $70 as tankers return to Strait of Hormuz despite US strikes

US crude settled at $69.23 on June 26, its first close below $70 since before the Iran war, as more tankers transited the Strait of Hormuz and traders bet a fragile ceasefire would hold even after fresh US strikes on Iran.

The week's numbers, checked

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