Oil prices climb 3% as tensions rise near the Strait of Hormuz. Brent crude trades above $106 per barrel while WTI sees similar gains as market participants react to regional instability.

Cuba receives 100,000-metric-ton oil shipment from Russia to address ongoing power blackouts. Energy Minister Vicente de la O Levy warns the relief will be short-lived.

Cuba has received a 100,000-metric-ton oil shipment from Russia, providing temporary relief from power blackouts. Energy Minister Vicente de la O Levy stated that the relief provided by the shipment will be short-lived.

DEVELOPING: 34 ships diverted from the Strait of Hormuz, according to Pete Hegseth. The reported maritime traffic disruption follows ongoing regional tensions in the Middle East.

Pete Hegseth reports that 34 ships have been diverted from the Strait of Hormuz.

BREAKING: Gulf crude production drops 14.5 million barrels per day, a 57% decline from pre-war levels, according to Goldman Sachs. Analysts warn that output recovery may take months even after the Strait of Hormuz reopens.

Goldman Sachs reports that Gulf crude production has fallen by 14.5 million barrels per day, a 57% decline from pre-war levels, with recovery expected to take months even after the Strait of Hormuz reopens.

Canada approves a $4 billion expansion of the Enbridge pipeline system. The project aims to increase natural gas capacity across the network.

The Canadian government has approved a $4 billion expansion project for the Enbridge pipeline system.