Brent Crude

Crude Oil Prices: OPEC+ Holds Firm, Sparking a Four-Day Oil Rally Amid Supply and Geopolitical Jitters

Crude Oil Prices Jump as US-Iran Conflict Cost Hits $29 Billion Mark

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May 13, 2026

Global oil markets remain volatile as the Pentagon reveals surging military expenditures and Iran’s oil exports face a 28-day standstill amid an ongoing naval blockade in the strategic Strait of Hormuz.