IEA: Middle East conflict reshaping global energy investment plans, report says. Focus shifts to security as disruptions mount.

Oil prices surge over 3.5% on new Middle East escalation, Brent crude tops $97.70 per barrel

Oil prices rose more than 3.5% on a new escalation of the Middle East conflict. July Brent futures on ICE Futures London were up $3.41 (3.62%) to $97.70 per barrel at 8:15 Moscow time. July WTI futures on NYMEX rose $3.37 (3.8%) to $92.05 per barrel. Both benchmarks closed at their lowest in over a month.

U.S. crude futures jump 3.2% to $91.55 after Iran's IRGC claims strike on U.S. airbase.

U.S. crude futures rose $2.87 (3.24%) to $91.55 a barrel after Iran's Islamic Revolutionary Guard Corps said it hit a U.S. airbase.

Chinese crude imports set to drop to pandemic-era lows as Iran war reveals demand slump. Bloomberg reports the decline may be structural as demand disappears.

Chinese imports of crude oil are set to drop to levels not seen since the pandemic, as the war in Iran reveals the extent to which demand has disappeared and may not be coming back.