Crude Prices Soar as Middle East Tensions Curb Global Oil Supplies

September WTI crude oil (CLU26) is up +2.76 (+3.53%) on Friday, and September RBOB gasoline (RBU26) is up +0.1203 (+4.03%).

Crude oil and gasoline prices are sharply higher today, with gasoline climbing to a 1-week high. The lack of an agreement between Iran and Oman to reopen the Strait of Hormuz is limiting crude supplies from the Middle East and is boosting oil prices. Also, an attack on a Saudi oil refinery by Houthi militants is further straining global fuel supplies and is pushing energy prices higher.  Continue reading here (Source: Barchart).

Why Gas Prices Dropped - And Could Surge Again

Maybe you noticed this over the weekend: Filling a gas tank is a touch cheaper.

Indeed it is. GasBuddy.com puts the national average price at about $3.944 a gallon on Aug. 9. That’s down 3.6% since the end of July and down 12.2% since Memorial Day. Continue reading here (Source: TheStreet).

Diesel Squeeze to Worsen as Winter Approaches

A diesel squeeze spurred by wars in the Middle East and Ukraine is setting the stage for an even worse crunch as demand rises ahead of the Northern Hemisphere winter. 

Disruptions in the Strait of Hormuz and damage to Persian Gulf refineries, as well as a wave of Ukrainian attacks on Russian plants have severely constrained exports from regions that together accounted for around a third of global diesel exports last year. Continue reading here (Source: Transport Topics).

Natural Gas Market Summary - August 2026

As summer enters its final stretch, the U.S. natural gas market remains well supplied despite higher year-over-year demand trends. According to preliminary data from Rystad Energy, total natural gas demand, including exports, of more than 118 Bcf per day through July is running 2.5 percent above the same period in 2025. Growth has been driven by LNG feedgas deliveries and higher power sector consumption despite flagging industrial and residential/commercial demand signals. On the supply side, dry gas production for the year so far has averaged 111.1 Bcf per day, 4.3 percent higher than year-ago levels, and underground storage inventories remain nearly 7 percent above the five-year average. Continue reading here (Source: American Gas Association).

Why Trump's Waiver of the Jones Act is Unlikely to Lower Gas Prices

U.S. President Donald Trump is weighing another suspension of the Jones Act as gasoline prices above $4 a gallon threaten to become a liability for Republicans heading into the midterm elections. The move would again open domestic oil and fuel shipments to cheaper foreign-flagged vessels, extending an emergency waiver Trump imposed after the Iran war sent crude prices sharply higher in March. The problem is that the first waiver barely moved gasoline prices. Shipping costs account for only a small part of what Americans pay at the pump, leaving Trump with limited room to cut prices through maritime policy as he turns up the pressure on ExxonMobil and Chevron over their soaring profits. Continue reading here (Source: OilPrice).