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Iranian officials are worried the U.S. blockade will cause an economic collapse and admit sanctions relief is desperately needed | Fortune 0
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- August 9, 2026
Sensing it has the upper hand, Iran issued a long list of maximalist demands before it reopens the Strait of Hormuz, even as officials in Tehran grow increasingly concerned about the shattered economy. While Iran and Oman have been in talks over how to manage traffic through the narrow waterway, an agreement won’t automatically unlock
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How Chevron became the AI darling of Big Oil | Fortune 0
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- August 8, 2026
Welcome to rural Reeves County, which counts about 4,000 households over 2,600 square miles, in barren and arid West Texas. Soon, courtesy of Chevron, the county will possess enough gas-fired electricity to power more than 2 million homes—though in this case, all of that power will be dedicated instead to Microsoft data centers. The massive
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Current price of oil as of Aug. 7, 2026 | Fortune 0
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- August 7, 2026
At 5:20 a.m. Eastern Time today, oil was priced at $86.04 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a gain of $2.40 compared with yesterday morning and around $19 higher than the price one year ago. Oil price per barrel % Change Price of oil
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Ukraine hits two oil refineries deep in Russian territory 0
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- August 6, 2026
In Ukraine, three people were killed in the town of Balakliya, Kharkiv region, in an overnight Russian drone attack, the country’s state emergencies service DSNS said. It said private residential houses were targeted, with fires reported in two buildings. Kharkiv regional head Oleh Synehubov later said that another two people were killed when drones attacked
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Current price of oil as of Aug. 6, 2026 | Fortune 0
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- August 6, 2026
By 7 a.m. Eastern Time today, oil had reached $83.64 per barrel, measured using the Brent benchmark. That’s 8 cents less than it cost yesterday morning and about $16.10 above its price a year earlier. Oil price per barrel % Change Price of oil yesterday $83.72 -0.09% Price of oil 1 month ago $72.25 +15.76%
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Oil prices fall on hopes Strait of Hormuz could reopen 0
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- August 4, 2026
Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced talks had progressed to allow shipments to potentially resume as soon as this week.
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