Tensions at the Strait of Hormuz risk 20M bpd in crude oil flow, fueling a sharp rally in oil futures and boosting market volatility.

Soybean oil rallied on the Trump administration’s proposal allowing oil refiners to blend more biofuels into gasoline and diesel next year.

Analysts are making credible arguments that oil could slump into the $40s—or soar to $120. Even for a commodity with a volatile history like oil, that price range is remarkable. Late on Wednesday, Brent crude,

India's palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil's price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases,

Oil surged as the US government ordered a partial evacuation of its embassy in Iraq amid rising security risks.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel's attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

JP Morgan downplayed geopolitical concerns on Thursday and maintained its base case forecast for oil prices to stay in the low-to-mid $60s through 2025 and $60 in 2026, but said certain worst-case scenarios could send prices surging to double those levels.