Crude Oil Futures News - May 14, 2026
WTI crude tumbles, as US-China deal reopens Strait of Hormuz
WTI crude oil prices recorded their sharpest single-day drop of the year on Friday. The sell-off followed the reopening of the Strait of Hormuz after a 75-day...
OPEC+ increases oil production quotas, despite Strait of Hormuz closure
OPEC+ members announced plans on May 14, 2026, to continue gradual oil production quota increases through September. The alliance aims to restore 1.65 million...
Iran Reopens Hormuz to a Trickle of Ships — But Can 30 Vessels Undo a Billion-Barrel Supply Hole?
Oil prices eased as Iran allowed roughly 30 vessels — including Chinese tankers — through the Strait of Hormuz for the first time since the waterway was shut...
Iran reopens Strait of Hormuz to limited traffic, cooling oil prices
Iran permitted approximately 30 vessels, including Chinese ships, to transit the Strait of Hormuz. [9] This marks the first passage since the waterway's...
Trump and Xi Target Hormuz Reopening as WTI Hits $101
U.S. President Donald Trump and Chinese President Xi Jinping met in Beijing to address the ongoing conflict with Iran. The critical Strait of Hormuz shipping...
Iran Bans US Weapons in Hormuz, Oil Falls on Fed Fears
Iran banned US weaponry from transiting the Strait of Hormuz on May 14, 2026. The Iranian military now supervises all traffic through the strategic waterway....
WTI Crude anchors near $101, amid Hormuz closure and inflation spikes
West Texas Intermediate (WTI) crude futures for June 2026 are trading near $101 per barrel. Modest contango indicates balanced near-term supply and demand...