Brent Crude Oil / BRENTOIL

-4.17%

BRENTOIL Fades $126 Spike as UAE Bolts OPEC and Goldman Trims Q2 Forecast

Apr 30, 2026

+8.78%

BRENTOIL Perp +8.78% as Spot Brent Tags $119 on Trump's 'Stuffed Pig' Blockade

BRENTOIL ripped 8.78% to $113 on the Hyperliquid HIP-3 book as spot Brent printed $119.20 — the highest level since June 2022 — after Donald Trump told Axios the U.S. naval blockade of Iran stays in place until Tehran signs a nuclear deal. The perp is still trading roughly six dollars below spot, the same basis discount that opened when Hormuz shut. With TotalEnergies idling nine tankers in the strait and the UAE walking out of OPEC on Friday, every leg of the supply story is tightening into the impasse.

Apr 30, 2026

+6.69%

BRENTOIL Perp Holds $110.80 as IEA Calls Hormuz Closure the Largest Supply Shock on Record

Brent's Hyperliquid perp printed $110.80 after Trump told Axios the US naval blockade on Iran stays in place until Tehran signs a nuclear deal, killing the brief de-escalation bid that had been capping crude. Spot Brent traded above $118 — the highest since June 2022 — leaving the perp roughly $7 light on basis as traders bet on an eventual ceasefire that Trump just pushed further out the curve. The IEA is now calling Hormuz's closure the largest supply disruption in the history of the global oil market, with shut-ins averaging 7.5 million barrels a day in March and rising. Citi just lifted its Q2 base case to $110 and Goldman has raised its near-term forecasts.

Apr 30, 2026

+9.64%

BRENTOIL Rips 9.64% as Trump Tells Axios the Iran Blockade Stays Until a Nuclear Deal

BRENTOIL ran 9.64% to $113.50 after President Trump rejected Iran's offer to reopen the Strait of Hormuz in an Axios interview, vowing to keep the US naval blockade in place until Tehran caves on its nuclear program. Spot Brent topped $118 — its highest print since 2022 — with the IEA still calling Hormuz the largest oil supply shock on record. UAE's announcement that it will exit OPEC on May 1 lands on the same tape, removing what would have been the cartel's most natural pressure-release valve.

Apr 29, 2026

+5.94%

BRENTOIL Tops $109 as Trump Rejects Iran's Hormuz Reopening Offer

Brent crude blew past $114 on April 29 after reporting that President Trump told his national security team to prepare for an extended US naval blockade of Iran rather than accept Tehran's offer to reopen the Strait of Hormuz in exchange for deferring nuclear talks. The HIPERWIRE BRENTOIL perp climbed 5.94% to $109.6 on the news, still trading at a steep discount to the spot benchmark. It was the eighth straight green session in front-month Brent, the highest print since June 2022, with roughly 10 million barrels per day of regional production still sidelined.

Apr 29, 2026

+2.12%

BRENTOIL Rebounds 2.12% as Iran Rules Out Direct Talks With Witkoff in Islamabad

BRENTOIL printed $100.50 on Hyperliquid, up 2.12% over 22 hours, after Tehran said any meeting with Steve Witkoff and Jared Kushner in Islamabad will be indirect only. Strait of Hormuz transits are still running about 9 vessels a day versus a 129-vessel baseline, and the Pentagon just seized a second sanctioned Iranian tanker in under a week. Yesterday's de-escalation pop has been faded — the market is pushing the diplomatic timeline out, not pricing it in.

Apr 25, 2026

-2.66%

BRENTOIL Slips 2.66% as Araghchi Heads to Islamabad for Fresh US-Iran Talks

BRENTOIL fell 2.66% to $98.30 on Hyperliquid after Iranian Foreign Minister Abbas Araghchi departed for Islamabad for Pakistani-mediated talks with the United States. Spot Brent slipped back below $100 after touching $106 overnight, and Israel and Lebanon extended their ceasefire by three weeks — the first real de-escalation signal in a week that saw Hormuz transits collapse to roughly seven percent of normal. The perp basis is compressing as overnight risk premium leaks out, but Brent is still tracking a weekly gain near 15 percent.

Apr 24, 2026

+4.28%

BRENTOIL Climbs 4.28% as Iran Seizes Two Ships and Hormuz Talks Stall

BRENTOIL printed $100.20 on Hyperliquid after Iran captured two cargo ships in the Strait of Hormuz on April 22, breaking the fragile soft truce that had held since April 17. Spot Brent traded near $106 with weekly gains close to 18 percent, leaving the perp at a roughly $6 discount as funding compresses the basis. Trump's naval blockade is still in place, no fresh proposal has come from Tehran, and Hormuz throughput remains roughly half its normal level.

Apr 24, 2026

+5.65%

BRENTOIL Climbs 5.65% as Iran Rejects Trump's Ceasefire Narrative

BRENTOIL perp added 5.65% over 24 hours to $94.85 as Iran publicly disputed Trump's claim that Tehran asked for the indefinite ceasefire extension announced April 22. The Strait of Hormuz blockade remains in place, the American Petroleum Institute reported a 4.4 million barrel US crude draw (four times consensus), and the perp's earlier discount to spot has compressed fast as the market accepts that the extension does not unwind the structural risk premium.

Apr 22, 2026

+2.65%

BRENTOIL Adds 2.65% as Trump's Indefinite Ceasefire Fights a 4.4M Barrel API Draw

BRENTOIL added 2.65% over the last 21 hours to $92.47 as Trump extended the US-Iran ceasefire indefinitely, draining the risk premium that briefly carried spot Brent above $100. The API's surprise 4.4 million barrel US crude draw set a quiet fundamental floor under the ceasefire sell-off. With the US naval blockade on Iranian exports still in place, the HIP-3 perp trades at a roughly $5 discount to spot heading into today's EIA confirmation.

Apr 22, 2026

+6.71%

BRENTOIL Prints $95 as US Boards M/T Tifani and the Islamabad Seat Stays Empty

BRENTOIL is up 6.71% over 22h to $95.16, converging with spot Brent as the two-week US-Iran ceasefire hits its expiration without an Iranian delegation ever arriving in Islamabad. Vice President JD Vance stayed in Washington on Tuesday. Hours earlier, US forces boarded the M/T Tifani, a tanker previously sanctioned for smuggling Iranian crude, and Iran's parliament speaker Mohammad Bagher Qalibaf publicly ruled out talks under the shadow of threats. The perp has fully rebuilt the Hormuz risk premium that faded last week.

Apr 21, 2026

+1.92%

BRENTOIL Rebuilds a Small Risk Premium as Vance and Qalibaf Head to Islamabad on the Ceasefire Deadline

The BRENTOIL perp ticks back to $90.72, up 1.92% over 24h, as the two-week US-Iran truce formally expires today. JD Vance and Iran's parliament speaker Mohammad Bagher Qalibaf are now confirmed to arrive in Islamabad on Wednesday for the next round of talks, but no Iranian delegation has actually departed yet. Hormuz traffic is still a trickle, and the perp is pricing another overnight leg of tail risk rather than trusting the diplomatic headline.

Apr 21, 2026

-2.92%

BRENTOIL Gives Back the Hormuz Spike as Trump's Pakistan Delegation Keeps the Talks Thread Alive

BRENTOIL is back at $90.33, down 2.92% over 22h after the HIP-3 perp fully unwound the weekend spike that took spot Brent to $94.69 on the US seizure of an Iranian-flagged cargo vessel, IRGC gunfire on two tankers transiting Hormuz, and Tehran pulling out of the Islamabad round. The fade tracks Trump still flying a US delegation to Pakistan on Monday even as Iran signals it will not show, which markets are reading as the ceasefire thread holding for another 48 hours. The next binary is Wednesday's April 22 expiry — Trump has already flagged an extension as highly unlikely.

Apr 20, 2026

+3.66%

BRENTOIL Grinds Back Above $90 as the Hormuz Reclosure Calcifies Into the Ceasefire Cliff

Brent is trading $90.49 on the HIP-3 perp, up 3.66% over the last 21 hours, as the market finishes pricing out Friday's brief Hormuz reopening headline. Iran's IRGC has formally reimposed closure, the US naval blockade of Iranian ports is still fully in force, and the April 21 ceasefire deadline is now the next binary. The Araghchi-to-Ghalibaf whipsaw is done. What's left is a chokepoint standoff with no off-ramp before the weekend expires.

+8.59%

BRENTOIL Reclaims $90 as the Hormuz Reopening Trade Fully Unwinds

Brent's HIP-3 perp is up 8.59% to $90.92, erasing most of Friday's 11% dump after Iran's parliament speaker formally scrapped the foreign minister's 'completely open' declaration. The US naval blockade of Iranian ports remains in force, CENTCOM is still running mine-clearance in the strait, and the two-week US-Iran ceasefire expires Tuesday. The dovish narrative that drove yesterday's flush is now dead.

+5.96%

BRENTOIL Reclaims $89 as Iran Formally Cancels Hormuz Reopening

BRENTOIL is up 5.96% to $89.23 on Hyperliquid after Iran's parliament speaker walked back Tehran's claim that the Strait of Hormuz was completely open. The reversal formalizes what Trump already told markets on Truth Social. The clean-reopening trade that drove the April 17 dump is now officially dead.

+5.60%

BRENTOIL Bounces as Trump Keeps Iran Blockade Despite Hormuz 'Reopening'

BRENTOIL is up 5.60% to $88.41 on Hyperliquid after yesterday's 9% Hormuz-reopening dump priced in a clean exit that never arrived. Trump kept the US naval blockade on Iranian ports in full force, the Strait is open in name only with sea mines still uncleared, and the US-Iran ceasefire expires April 22. The war premium is re-inflating as traders mark down the value of Iran's foreign minister tweet.

-5.95%

BRENTOIL Dumps 6% as Iran Declares Hormuz Open During Lebanon Ceasefire

Iranian Foreign Minister Abbas Araqchi said the Strait of Hormuz is completely open to commercial vessels for the remainder of the US-brokered ten-day Israel-Lebanon truce. Brent futures settled down 9.07% at $90.38, the biggest one-day drop since the war began in late February. On Hyperliquid, BRENTOIL is trading at $87.32, unwinding the entire war premium that had snapped back after April 12's collapse of US-Iran talks.

Apr 17, 2026

+1.99%

Brent Bounces on Surprise EIA Drawdown as Hormuz Blockade Tightens

The EIA's weekly report showed US crude inventories fell 913,000 barrels last week, defying consensus expectations for a 2.1 million barrel build. The surprise draw comes as CENTCOM declared its blockade of Iranian port traffic through the Strait of Hormuz fully implemented, keeping supply uncertainty elevated even as diplomatic channels show signs of reopening.

Apr 15, 2026

-5.17%

Brent's $10 Blockade Premium Dissolves as CENTCOM Enforcement Falls Short of Rhetoric

Brent crude dropped 5% over 23 hours to $93.66 after CENTCOM clarified the Hormuz blockade targets Iranian-port traffic only, leaving non-Iranian vessels to transit the strait freely. The market had priced in a broader disruption on Trump's full-closure rhetoric, but the narrower operational scope collapsed the supply premium in a single session. With strait traffic already down to 17 ships per day from 130 pre-conflict, the US enforcement layer adds minimal incremental disruption to flows Iran had already strangled.

-7.42%

Brent Reverses $10 After CENTCOM Narrows Hormuz Blockade to Iranian Ports

Trump said the Navy would blockade any and all ships trying to enter or leave the Strait of Hormuz. CENTCOM said something narrower: enforcement targets Iranian-port traffic only, and non-Iranian vessels transit freely. That gap between the rhetoric and the actual operation collapsed the war premium that sent Brent above $103 on Monday morning, with the BRENTOIL perp selling through $95 support to trade at $93.

-5.46%

Brent Gives Back the Blockade Spike as Hormuz Enforcement Goes Live

Brent crude retreated more than 5% from intraday highs above $103 after the US naval blockade of Iranian ports in the Strait of Hormuz officially went into effect at 10 AM ET on Monday. CENTCOM scaled back Trump's initial threat to a full strait closure, limiting enforcement to vessels traveling to and from Iranian ports while allowing all other traffic to transit freely. With strait traffic already reduced to a trickle under Iran's own restrictions, the market appears to be repricing the blockade as adding minimal incremental supply disruption.

+4.75%

Brent Holds $97 as Navy Mine-Clearing Begins Inside the Strait

Two Arleigh Burke-class destroyers entered the Strait of Hormuz on Saturday and began clearing Iranian mines — the operational precursor to Monday's blockade enforcement at 10 AM ET. With pre-closure barrels expected to exhaust by April 20 and over 150 ships anchored outside the strait, the market is pricing a supply gap that hasn't fully materialized yet. Brent has pulled back from a $103 spike on the initial announcement to settle near $97, suggesting traders read CENTCOM's scoping — Iranian ports only, not all traffic — as narrower than Trump's rhetoric implied.

+9.79%

Brent Extends Near $98 as CENTCOM Narrows Hormuz Blockade to Iranian Ports

The Hormuz blockade crossed from presidential rhetoric to operational reality on Sunday. CENTCOM confirmed it will enforce a naval blockade of all vessels entering or exiting Iranian ports starting Monday at 10 a.m. ET, while explicitly allowing non-Iranian strait traffic to pass freely. Markets are holding post-announcement gains as JPMorgan warns pre-closure crude barrels will be fully exhausted from global supply chains by April 20.

+9.41%

Brent Rips 9% After Trump Declares Naval Blockade on the Strait of Hormuz

Brent crude jumped to $97 after the Islamabad talks collapsed and Trump announced the US Navy would blockade all vessel traffic through the Strait of Hormuz. The move erases the 4% dip from when talks opened and then some — the market is now pricing in a scenario where the strait stays shut and Washington escalates to force it open.

Apr 12, 2026

+5.41%

Brent Bounces After 21-Hour US-Iran Talks in Islamabad End Without a Deal

BRENTOIL reversed its peace-talks selloff, climbing 5.4% to $93.55 after Vice President Vance left Islamabad with no agreement reached in 21 hours of negotiation. The US Navy immediately deployed two destroyers into the Strait of Hormuz to begin mine-clearing operations, signaling Washington is preparing to force the waterway open if diplomacy fails. The strait is still running at roughly 10% of pre-war vessel traffic despite the ceasefire.

Apr 12, 2026

-3.94%

Brent Drops Below $89 as Vance Opens Face-to-Face Iran Talks in Islamabad

US-Iran peace talks opened in Islamabad on April 11, with Vice President Vance leading the American delegation opposite Iran's parliament speaker Qalibaf. The formal negotiations are compressing what remains of Brent's war premium, with Goldman Sachs having already cut its Q2 target from $99 to $90. The Strait of Hormuz is still running at roughly 5% of normal transit capacity with over 600 vessels stranded, but the market is pricing a reopening before it has actually happened.

Apr 11, 2026

-3.27%

Netanyahu's Lebanon Talks Offer Pulled Another $4 Out of Brent

Brent crude futures slid roughly 3% after Israeli PM Netanyahu announced direct negotiations with Lebanon, compounding the war-premium unwind that started with the US-Iran ceasefire two days earlier. Futures are now pricing peace faster than physical markets can deliver it — dated Brent spot still trades above $120 while futures sit in the mid-$90s, and the Strait of Hormuz remains functionally closed with 230 loaded tankers trapped inside the Gulf.

Apr 10, 2026

+6.57%

Israel's Lebanon Strikes Blew Up the Ceasefire — And Brent Repriced in Hours

Brent bounced 6.57% off session lows after Israel launched its largest coordinated strike on Lebanon since the war began, prompting Iran to re-halt tanker traffic through the Strait of Hormuz. The market had just crashed 17% on ceasefire euphoria — then spent the rest of the session buying back the geopolitical premium it had just unwound.

Apr 9, 2026

-6.33%

The Iran Ceasefire Gave Tehran a Toll Booth Over Global Oil

The two-week ceasefire that crashed Brent crude 15% didn't just pause the bombing. It codified Iran's armed-forces control over the Strait of Hormuz at roughly $1 million per ship, with US vessels banned outright. Three hundred forty tankers remain trapped in the Persian Gulf, daily transits are down 90-95% from pre-war levels, and analysts say shuttered oil wells need two to three months to restart. Brent at $95 prices in the diplomacy but not the physical barrels.

-9.13%

Someone Sold $950 Million in Crude Futures Hours Before the Iran Ceasefire

A block sale of 8,600 Brent and WTI futures lots hit the tape at 1945 GMT on Tuesday, roughly three hours before Trump announced the two-week Iran ceasefire that sent crude down 15%. It was the second time in two weeks that a nine-figure pre-announcement bearish bet printed in oil, after a $500 million sell on March 23 preceded the last major crude leg down.

-12.34%

Iran Halts Hormuz Traffic Hours After Ceasefire Crashed Brent's War Premium

The Pakistan-brokered two-week ceasefire between the US and Iran wiped more than 15% off Brent crude in its first hours, compressing the estimated war premium from $14 per barrel to under $6. But less than 24 hours in, the deal is already under strain. Iran suspended tanker traffic through the Strait of Hormuz citing Israel's continued strikes on Lebanon, and Lloyd's insurers say trade is highly unlikely to simply resume. Futures priced in a reopening that the physical market has not delivered.

-16.25%

Trump-Iran Two-Week Ceasefire Unwinds Brent's War Premium in Hours

Brent crude dropped from $109 to $93 after Trump announced a double-sided ceasefire with Iran less than two hours before his 8pm ET deadline to bomb Iranian infrastructure. Iran agreed to allow safe passage through the Strait of Hormuz for the first time since the March 4 blockade, with formal negotiations set to begin in Islamabad this week. The move erased nearly half the war premium that had built since the strait closure sent Brent from $80 to $126 over five weeks.

-7.59%

Iran's 10-Point Peace Plan and Rising Hormuz Traffic Crack Brent's War Premium

Brent crude dropped to $102.70 as Iran's counter-proposal for a permanent end to the war — not just a 45-day truce — signaled genuine negotiating intent for the first time since the conflict began. Simultaneously, Strait of Hormuz transit traffic climbed to its highest levels since late February, with 21 ships clearing the waterway over the weekend under selective passage agreements. The combination of diplomatic and physical de-escalation is forcing the war premium out of oil faster than the market expected.

Apr 7, 2026

-4.17%

Iran's Counter-Proposal Cracks Brent's War Premium Ahead of Tuesday's Hormuz Deadline

Brent crude dropped 4.17% to $106.50 on the Hyperliquid perp, breaking below the $107.80 level that held during the last ceasefire selloff. Iran rejected Pakistan's 45-day truce but submitted its own 10-point permanent peace plan, the first time Tehran has counter-proposed rather than simply refusing to engage. Three ships cleared the Strait on selective passage since Thursday, and with Trump's fourth Hormuz ultimatum expiring at 8pm ET Tuesday, the market is pricing a higher probability of diplomatic resolution than at any point since the war began February 28.

Apr 7, 2026

+3.65%

Brent Snaps Back to $111 After Iran Rejects Ceasefire Ahead of Trump's Hormuz Ultimatum

Brent crude reversed its ceasefire-driven pullback from $107.80 and climbed back above $111 after Iran dismissed the 45-day truce proposal as illogical and rejected the US 15-point peace plan outright. Trump's Tuesday 8pm ET deadline for Iran to reopen the Strait of Hormuz is now hours away, with explicit threats to strike every power plant and bridge in the country.

Apr 7, 2026

-2.79%

Brent Pulls Back to $107.80 as 45-Day Ceasefire Framework Surfaces

Brent crude gave back nearly 3% in thin Sunday trading after reports that US, Iranian, and regional mediators are negotiating terms for a 45-day truce — the first structured ceasefire proposal since Iran sealed the Strait of Hormuz in early March. The pullback followed an OPEC+ meeting that approved a symbolic 206,000 bpd output increase for May, though key Gulf producers remain unable to ship barrels through the closed strait. Iran publicly rejected the proposed Islamabad talks hours later, calling diplomacy a dead end, but the initial headline was enough to trim risk premium during low-liquidity hours.

Apr 6, 2026

+3.04%

Brent Holds Above $108 as IEA Warns April Will Bring Zero Hormuz Cargo Relief

IEA Executive Director Fatih Birol warned on April 1 that April's oil supply crunch will be materially worse than March's, because the last cargoes that transited the Strait of Hormuz before Iran's blockade have now all been delivered. Trump's Wednesday night address, which promised 2-3 more weeks of strikes with no plan to reopen the strait, compounded the structural supply anxiety. Even a 5.5-million-barrel build in US crude inventories was irrelevant against the 12-million-barrel-per-day global shortfall.

Apr 3, 2026

+8.64%

Dated Brent Hits $141 as Physical Cargo Market Prices In the Worst of Hormuz

Brent futures settled near $109 on April 2, up roughly 8% after Trump's prime-time address promised two to three more weeks of strikes on Iran with no structured ceasefire plan. But the more important signal came from the physical market: dated Brent for actual cargo delivery surged to $141.36, the highest since the 2008 financial crisis, opening a $32 gap over June futures that reflects genuine supply desperation rather than speculative positioning.

Apr 3, 2026

+9.39%

Brent Blows Past $108 After Trump's Iran Address Kills the Ceasefire Trade

Trump's first national address on the Iran war offered no ceasefire timeline and promised to hit Iran extremely hard over the next two to three weeks. Brent crude reversed from below $100 to above $108 as the entire de-escalation trade was liquidated in a single session. Goldman Sachs has called the Hormuz disruption the largest supply shock in its modeling history, with a near-term Brent target of $110.

+9.34%

Brent Up 9% in 24 Hours as IEA Warns the Worst of Hormuz Is Still Ahead

Trump's prime-time address on April 1 promised two to three more weeks of strikes against Iran instead of any ceasefire timeline, reversing a brief slide toward $100 and extending Brent's 24-hour gain past 9% to $107.90. The IEA warned that supply losses through the Strait of Hormuz will double in April now that pre-war cargo buffers are fully exhausted.

+8.03%

Brent Reprices a Prolonged Iran War After Trump's "Stone Ages" Address

Brent crude is holding above $107 in early Thursday trade after Trump promised to bring Iran back to the Stone Ages in a national address that offered zero ceasefire framework. The 8% move over 23 hours captures the market whipsawing from de-escalation optimism to pricing in weeks more of Hormuz disruption, compounding a record 42% monthly surge in March. Asian equities are selling off hard as the IEA warns April supply losses will double March's.

+7.08%

Brent Reverses $7 as Trump Kills De-Escalation Hopes in Prime-Time Address

Brent crude whipsawed from below $100 to above $106 after President Trump used his first national address on the Iran war to promise two to three more weeks of strikes rather than a ceasefire. The speech landed hours after an Iranian cruise missile hit a QatarEnergy-leased tanker in Qatari waters, and a day after the IEA warned that April supply losses would double March's already historic disruption.

-5.35%

Brent Breaks Below $100 as UAE Offers to Force Open the Strait of Hormuz

Brent crude slipped below $100 for the first time since early March after the UAE formally asked the United Nations to authorize military force to reopen the Strait of Hormuz. The move makes Abu Dhabi the first Gulf Arab state to offer a direct military role in the Iran conflict, adding a concrete operational pathway to the diplomatic channels that have stripped roughly $20 off Brent in three sessions.

-3.48%

Brent Drops Below $102 After Trump Signals Two-Week Iran Wind-Down

Trump told reporters on March 31 that the US would probably stop attacks on Iran within two to three weeks whether a deal materializes or not, stripping another layer of war premium from a barrel that rallied 63% in March. The EIA confirmed a 5.5 million barrel build in US crude inventories the same morning, reinforcing the bearish shift. Brent briefly touched $98.35 intraday before recovering above $101, leaving the market caught between de-escalation rhetoric and a Strait of Hormuz that remains effectively closed.

-6.37%

Brent Tests $100 as China-Pakistan Ceasefire Plan Opens Third Diplomatic Channel

China and Pakistan published the first formal multilateral ceasefire framework since the US-Iran war started February 28, calling for immediate cessation of hostilities and unconditional reopening of the Strait of Hormuz. Brent has now shed over $16 from last week's $116 session highs as converging diplomatic pressure erodes the war premium built up during March's historic 60% rally, with the psychologically significant $100 level now in play.

-2.54%

Brent Slides Toward $105 as Markets Price the April 6 Kharg Island Binary

Brent crude has dropped over $11 from last week's $116 session highs as ceasefire signals from Tehran and Washington erode the war premium built up during March's historic 60% rally. The market is now fixated on Trump's April 6 deadline — the date his 10-day pause on strikes against Iranian energy infrastructure expires — which sets up a clean binary between escalation and resolution with no obvious middle ground.

-5.53%

Brent Slides Below $104 as Iran Signals Willingness to End War

Iranian President Masoud Pezeshkian told EU Council President António Costa that Tehran has the necessary will to end the conflict, the most explicit peace signal since the war began February 28. Brent has now fallen over $12 from last week's $116 session highs as the market reprices war risk, compounding yesterday's selloff triggered by the G7's pledge to take all necessary measures on energy markets.

Mar 31, 2026

-2.72%

Brent Drops Below $107 After G7 Pledges 'All Necessary Measures' on Energy Markets

G7 finance and energy ministers held an emergency teleconference on March 30 and pledged coordinated intervention after Brent topped $116 earlier in the session. The statement backed the IEA's record 400-million-barrel strategic reserve release and called on all countries to drop export restrictions on oil and gas. Brent unwound sharply from session highs, falling below $107.

Mar 31, 2026

+3.49%

Brent Tops $107 After Iran Kills Negotiations and a Third US Carrier Heads to the Gulf

Iran's foreign minister declared on state television that Tehran has no plans to negotiate with the United States, rejecting a 15-point ceasefire plan sent through Pakistani mediators. Hours later, the Pentagon confirmed the USS George H.W. Bush carrier strike group departed Norfolk for the Middle East, making three carrier groups committed to the conflict. Brent added another 3.5% as the market priced in a blockade with no diplomatic off-ramp.

Mar 28, 2026

+5.91%

Brent Breaks $106 After Iran Turns Away China's Own Ships at Hormuz

Iran's Revolutionary Guard turned back three Chinese-linked vessels attempting to transit the Strait of Hormuz on Friday, proving the blockade is absolute — not even Beijing gets through. The IRGC formally declared the strait closed to all vessels bound for U.S. and Israeli allies, while Trump's latest deadline extension to April 6 failed to calm a market now pricing the closure as indefinite.

Mar 27, 2026

+2.48%

Brent Holds $100 as Ukrainian Drones Knock Out 40% of Russia's Oil Exports

Brent crude recovered above $100 as a second supply shock compounded the ongoing Strait of Hormuz crisis. Ukrainian drone strikes have disabled roughly 40% of Russia's oil export capacity — about 2 million barrels per day — in what Reuters called the most severe Russian oil disruption in modern history. The twin supply squeeze is colliding with a bearish EIA inventory build of 6.9 million barrels, capping the move.

Mar 26, 2026

+4.78%

Brent Breaks $106 as Iran Kills Talks and Trump Threatens a 'Final Blow'

Iran's foreign minister stated Tehran has no intention of negotiating with Washington, while Trump warned of a 'final blow' if Iran doesn't 'get serious soon.' Strait of Hormuz vessel transits have collapsed to four per day from a pre-conflict average of 120, and Friday's strike-pause expiration now carries significantly more weight.

Mar 26, 2026

+3.84%

Brent Bounces After Iran Calls Trump's 15-Point Peace Plan 'Maximalist and Unreasonable'

BRENTOIL recovered nearly 4% from session lows after Iran dismissed the Trump administration's 15-point proposal to end the war as deceptive and unreasonable, countering with a five-point plan that demands sovereignty over the Strait of Hormuz and war reparations. The bounce reversed a sharp selloff triggered earlier by de-escalation optimism when Iran offered conditional safe passage for non-hostile ships and reports of the US proposal first surfaced.

Mar 25, 2026

+3.74%

Brent Reclaims $100 After Iran Calls Trump's Peace Talk Claims 'Fake News'

Brent crude bounced back above $100 on Tuesday after Iran's Foreign Ministry flatly denied any negotiations with Washington, unwinding the de-escalation trade that crashed oil 11% the previous session. The White House walked back Trump's claim of productive talks, calling plans fluid, while Reuters reported that $500 million in suspicious oil futures were sold 15 minutes before Trump's announcement hit Truth Social.

Mar 24, 2026

-9.34%

Brent Settles Below $100 on Trump's Iran Pause While CERAWeek Execs Say Damage Isn't Priced In

Brent crude settled below $100 for the first time since March 11 after Trump announced a five-day pause on U.S. strikes against Iranian energy infrastructure, claiming productive talks Tehran denies exist. Hours later at CERAWeek in Houston, Chevron's CEO told attendees the physical supply destruction from the Hormuz closure is not fully reflected in prices and will take months to unwind even after the strait reopens.

Mar 24, 2026

-11.15%

Brent Drops 11% After Trump Pauses Iran Strikes on Talks Tehran Says Don't Exist

Trump ordered a five-day halt to U.S. strikes on Iranian energy infrastructure hours before his own 48-hour ultimatum expired, claiming productive conversations with Tehran. Iran's Foreign Ministry categorically denied any dialogue exists. Brent fell from $112 to $96.90, breaking below $100 for the first time since March 11, as the market stripped out a war premium the underlying conflict hasn't actually shed.

-14.68%

Brent Breaks Session Low as Israel Hits Tehran Hours Into Trump's Pause

Brent crude has broken through the $96 level that held during the initial 14% intraday crash, trading at $95.10 as Israeli forces struck IRGC headquarters in Tehran just hours into Trump's five-day pause on U.S. strikes against Iranian energy infrastructure. The pause applies only to American attacks on power plants. Israel is still hitting military targets across Iran, and Tehran categorically denies any negotiations are taking place.

-12.51%

Brent Gives Back Post-Pause Bounce as Iran Threatens to Mine Gulf Sea Lanes

Brent crude's recovery from a $96 session low to $101 has completely unwound, with the barrel sliding back to $97 as Iran's Defence Council threatened to lay mines across all Gulf sea lanes if the U.S. strikes coastal infrastructure. Tehran categorically denied any negotiations with Washington, leaving Trump's five-day pause without a counterparty.

-9.46%

Brent Drops 9% After Trump Pauses Iran Strikes for Five Days

Trump let his 48-hour ultimatum to Iran expire without action and ordered a five-day pause on strikes against Iranian energy infrastructure, claiming productive conversations with Tehran. Brent swung from $113 to a session low of $96 within minutes of the announcement before recovering to around $101. Iran's state media flatly denied any negotiations had taken place, leaving the market caught between the first real de-escalation signal since the war began and a counterparty that says the premise is fiction.

-12.03%

Brent Drops 12% After Trump Gives Iran 48 Hours to Reopen Hormuz

President Trump issued a Saturday night ultimatum threatening to destroy Iranian power plants if the Strait of Hormuz is not fully reopened within 48 hours. The demand injected a de-escalation probability into a market that had priced 59% of upside this month on the assumption the strait stays closed. Treasury's 140-million-barrel sanctions waiver on Iranian crude at sea, issued three days earlier, added further supply pressure.

+5.49%

Iraq Declares Force Majeure as Iran Expands Strikes to Kuwait Refineries

Iraq declared force majeure at all oilfields operated by foreign companies on March 20, unable to ship crude through the Strait of Hormuz after 20 days of near-total closure. Iranian drones struck Kuwait's Mina al-Ahmadi refinery for the second consecutive day, shutting down units at a facility that processes 730,000 barrels daily. The global market now faces a daily supply deficit estimated at 14 million barrels, and Brent crude settled above $112.

Mar 20, 2026

0.00%

How to Trade Brent Crude Oil (BRENTOIL) on Hyperliquid

Brent crude oil is the world's dominant pricing benchmark, setting the reference price for roughly 78% of globally traded crude. BRENTOIL brings this benchmark to Hyperliquid as a HIP-3 perpetual futures contract, giving traders direct exposure to the commodity at the center of the most volatile energy market in over a decade.

Mar 20, 2026

+10.35%

Brent Hits $110 After Israel Strikes South Pars and Iran Fires on Qatar's LNG Hub

Brent crude pushed above $110 per barrel on March 18 after Israeli and U.S. forces struck Iran's South Pars gas field, the world's largest, for the first time since the war began. Iran retaliated within hours, firing missiles at Qatar's Ras Laffan Industrial City and causing extensive damage to the complex that houses roughly a fifth of global LNG export capacity. Tehran published a list of five additional Gulf energy targets across Saudi Arabia, the UAE, and Qatar, and the IRGC declared them legitimate targets.

Mar 19, 2026

+8.32%

Brent Reclaims $100 After Iran Strikes Oman's Oil Bypass

Brent crude pushed back above $100 per barrel on March 12 after Iranian drones struck fuel storage tanks at Oman's Port of Salalah, the key alternative route tankers had been using to avoid the closed Strait of Hormuz. The IEA's record 400-million-barrel reserve release, announced the previous day, failed to hold prices below $90. Goldman Sachs responded by more than doubling its Hormuz disruption assumption from 10 to 21 days.

Mar 12, 2026

+14.35%

Three Ships Hit in Hormuz as the Largest Oil Reserve Release in History Fails to Hold

Brent crude extended above $97 on March 11 after Iran's IRGC claimed direct attacks on three commercial vessels in the Strait of Hormuz and declared that no oil would transit the waterway. The IEA's unanimous 400-million-barrel strategic reserve release, the largest in the agency's history, failed to cap the move. JPMorgan analysts noted that emergency releases peak at 1.4 million barrels per day against a 16 million barrel shortfall from the strait closure.

Mar 12, 2026

+8.09%

Brent Snaps Back 8% as Iran Escalates and Mines Appear in the Strait

Brent crude rebounded roughly 8% on March 11 after Iran launched what state media called its most intense operation since the war began, three vessels were hit by projectiles near the Strait of Hormuz, and U.S. intelligence reported Iran is now laying mines in the waterway. The bounce erased most of the previous session's 11% crash, which had been driven by Trump's premature de-escalation signals. Even the IEA's announcement of a record 400-million-barrel strategic reserve release failed to cap the move.

Mar 11, 2026

-14.09%

A Deleted Tweet From the Energy Secretary Just Unwound Brent's War Premium

Energy Secretary Chris Wright posted on X that the U.S. Navy escorted an oil tanker through the Strait of Hormuz, triggering the sharpest crude selloff since the Iran war began two weeks ago. Brent dropped from nearly $98 to below $80 intraday as the geopolitical risk premium that had built from the mid-$60s unwound in hours. Wright's post was subsequently deleted, and the Energy Department has not clarified the Navy's role.

-17.52%

Diplomatic Deal and Trump's 'War Complete' Comments Drain the Hormuz Premium from Crude

Brent crude gave back a large chunk of its war-driven spike on March 10 after a UN-brokered Memorandum of Maritime Stability committed regional powers to keeping Strait of Hormuz shipping lanes open. President Trump reinforced the reversal by telling CBS the Iran campaign was very complete and running ahead of schedule. The combination triggered algorithmic selling that dragged Brent from near $120 to the low $80s in under 48 hours, unwinding much of the geopolitical risk premium that had built up since late February.

-14.64%

Brent Crude Reverses $31 After Trump Floats U.S. Takeover of the Strait of Hormuz

Brent crude spiked to $119.50 as the Iran war shut down tanker traffic through the Strait of Hormuz, then reversed $31 in a single session after President Trump told CBS News he was considering taking over the waterway and declared the conflict essentially over. BRENTOIL on Hyperliquid fell 14.64% as traders liquidated the supply-disruption premium that had pushed crude from $60 to $120 in a matter of days.

-20.83%

Brent Crashes From $119 After Trump Signals Ceasefire and G7 Floats Record Reserve Release

Brent crude gave back its entire war-premium spike in a single session, falling from $119.50 to below $91 after President Trump said the Iran conflict would end very soon and G7 leaders confirmed strategic petroleum reserves were on the table. The 20% intraday reversal produced a $30 round-trip in under 24 hours, one of the largest single-session oil swings in decades.

-24.33%

Brent Crude Gives Back Entire Hormuz War Premium on Trump Resolution Signals

BRENTOIL dropped 24% in under a day as the market rapidly unwound the war premium that sent crude from $70 to nearly $120 in ten days. Trump's declaration that the Iran operation was very complete, combined with G7 discussions on strategic reserve releases, triggered the sharpest single-session reversal in oil since the 2022 Russia spike. At $86.75, Brent has retraced most of the Strait of Hormuz closure panic — but the strait itself remains closed to commercial traffic.

-22.87%

BRENTOIL Gives Back the War Premium After Trump Signals Iran Conflict Nearing End

Brent crude reversed from a $119 spike to below $90 in a single session after Trump declared the Iran war will end very soon and G7 energy ministers convened to discuss a coordinated release of strategic petroleum reserves. The war premium that took ten days to build unwound in hours as the market repriced the conflict timeline.

-20.71%

Brent Pulls Back 20% From Spike as Trump Signals Iran War Winding Down

Brent crude retreated from near $120 to the low $90s after President Trump told CBS News the Iran conflict is "very complete, pretty much" and floated the idea of seizing the Strait of Hormuz. The pullback accelerated as G7 finance ministers convened to discuss a coordinated release of up to 400 million barrels from strategic reserves. The Strait remains effectively closed, Iraqi output has collapsed 60%, and the G7 has not yet agreed to act — but the market heard what it wanted to hear.

Mar 9, 2026

-21.82%

Brent Sheds War Premium After Trump Signals Iran Operation Near Completion

Brent crude dropped more than 21% in 16 hours on Hyperliquid's BRENTOIL perp, unwinding the geopolitical risk premium that built up during the Strait of Hormuz crisis. The selloff accelerated after President Trump told CBS the military operation against Iran was very complete and ahead of schedule, while G7 leaders confirmed strategic petroleum reserve releases were under active discussion.

Mar 9, 2026