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03
Jul 2026
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Congestion in the Strait of Hormuz as US–Iran agreement revives shipping – Oil exports resume (videos)

The first major oil shipments are passing through the Strait again as shipping activity restarts, though shipping and insurance market officials remain cautious despite the increased movement

Mitsotakis in Brussels: It is our duty to ensure the reduction in oil prices is passed directly to the pump

“At this moment, the main priority is the restoration of freedom of navigation in the Strait of Hormuz, and we are closely monitoring oil and gas prices,” the Prime Minister said

Oil: Brent stabilizes at $95 due to uncertainty in the Middle East

U.S. crude remains near $93 a barrel as markets assess conflicting signals from diplomatic activity in the Middle East and developments surrounding the Strait of Hormuz

Oil and gold surge after US strikes on Iran, brent above $100

The spot price of gold stood near $4,720 per ounce, recording a weekly increase of 2.3%

Analysis: Even if peace comes to the Middle East now, it will still take a long time for fuel prices to fall

Even if a U.S.–Iran agreement is reached and the Strait of Hormuz reopens immediately, fuel prices are unlikely to return quickly to their early-2026 levels. Markets will need months to be “convinced” that the danger has truly passed. This is the well-known “rockets and feathers” phenomenon

Oil: 9% plunge after Axios report that US and Iran are nearing an agreement

Axios claims the agreement would include, among other things, the lifting of restrictions on ship passage through the Strait of Hormuz

Ceasefire on the brink of collapse: The US strikes Iranian speedboats in Hormuz, Iran hits oil facilities in the UAE

Escort operation for ships amid attacks and rising tensions – Fears of an energy shock and escalation in the Gulf

Oil prices jumped up to 5% after Iran’s claims of a strike on a US warship

Brent rally eases after U.S. officials deny incident near Strait of Hormuz

What’s happening with oil: Why it dropped from record highs of $126 to around $111 within hours

The role of Trump's statements, market fears of "demand destruction" and strategic stocks

Donald Trump met with Chevron and other oil giants: Concerns over the “war shock” in energy prices

The U.S. president regularly holds meetings with industry executives in order to stay informed about developments. Gasoline prices in the U.S. have reached $4.18 per gallon, the highest level since 2022

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