Oil prices climbed higher on Monday, driven by escalating tensions in the Persian Gulf. Iran has ramped up efforts to block ships from passing through the Strait of Hormuz, a crucial waterway for global oil shipments, raising supply concerns among traders. Despite the International Energy Agency’s (IEA) announcement of a planned release of strategic oil reserves aimed at stabilizing markets, oil futures continued their upward trajectory. The geopolitical risks in the region are keeping traders focused on the potential for further disruptions to oil supply.
Sunday, May 3, 2026
15.7
C
London
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Headlines
Supreme Court Weighs Restoring Mail-Order Access to Abortion Pill Amid Legal Battle
The U.S. Supreme Court has been asked to restore...
Private Credit Isn’t Safer Than Banks — It’s Just Better at Hiding Losses
Private credit markets are drawing increased scrutiny as experts...
Spirit Airlines Made This Critical Mistake That Drove Its Sudden Demise
Spirit Airlines has canceled all future flights and is...
These hidden financial adviser fees quietly drain your portfolio — and 2 questions can stop them
Financial adviser fees can quietly reduce portfolio returns through...
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