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.
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.
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.
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.
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.
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.
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.