Oil prices rose Thursday, as investors continue to assess the latest developments in the Middle East amid concerns over renewed tensions between Iran and the U.S.

Some investing pros flagged well-timed trading in the oil market ahead of the latest reports of a US-Iran peace deal.

Oil prices fell and stocks rose after President Trump’s about-face to pause the U.S. operation to escort commercial ships through the Strait of Hormuz

The closure of the Strait of Hormuz has trapped one fifth of the world’s oil supply in the Persian Gulf, a crisis that the World Bank Group predicts will spike energy prices by 24 percent in 2026—the biggest increase since Russia invaded Ukraine in 2022.

Global oil supply remains stable, but refined fuel shortages are rising, says Goldman Sachs.

The bottom line is that Iran could run out of storage space in about 25 to 30 days if the blockade is not lifted, according to Homayoun Falakshahi, Kpler’s head of oil analysis. Other experts have given different estimates ranging from a few weeks to a month or more.

The U.S. has exported over 280 million oil barrels over nine weeks, drawing down strategic reserves. Yet oil and gas prices remained elevated.

Oil prices rose more than 4% on Monday as the fragile ceasefire between the U.S. and Iran appeared close to unraveling. Iran launched drones and missiles at the UAE, while Washington said it had sunk Iranian vessels in the strategically vital Strait of Hormuz.

With gas more than $6 in state, delivery of about 2m barrels is last planned shipment to pass through strait of Hormuz

Oil prices fell Tuesday after posting sharp gains at the start of the week as fresh attacks in the Gulf raised doubts about the durability of a ceasefire between the United States and Iran.

According to some quick napkin math, you'd be spending more than $230 in gas and oil to keep this car going for 1,000 miles.