Oil and European natural gas prices tumbled after the promised re-opening of the Strait of Hormuz bolstered sweeping optimism that the US-Iran conflict will reach an end and ease disruptions to global energy markets.

China processed less crude oil last month, as refiners cut run rates to conserve supplies snarled by war in the Persian Gulf.

Oil edged higher as traders weighed signs the US and Iran may extend a ceasefire against a double blockade of the Strait of Hormuz that continues to impede flows.

Oil held steady as traders weighed signs of rapidly depleting US reserves against efforts by the US and Iran to seek further talks to end a war that has brought transit through the vital Strait of Hormuz waterway to a near-halt.

Chinese crude oil and natural gas imports fell in March, as the supply crunch in the Persian Gulf began to affect shipments.

A hoard of Iranian crude on tankers at sea and robust onshore stockpiles in China will provide a cushion for the nation’s independent refiners should a US blockade of the Strait of Hormuz choke off flows.

Chinese crude oil and natural gas imports fell in March, as the supply crunch in the Persian Gulf began to affect shipments.

Oil fell sharply on signs Washington and Tehran are seeking to arrange a second round of peace talks.

Saudi Arabia’s crude sales to top importer China are set to halve next month as the war in the Middle East upends flows and lifts prices, according to traders familiar with the matter.

Oil prices should be much higher than current levels if the US goes ahead with a planned naval blockade of the Strait of Hormuz, according to a veteran oil market executive.

China has granted independent refiners additional crude import quotas to allow them to continue to produce fuels at officially mandated levels, helping Beijing to cope with the impact of disrupted supplies from the Persian Gulf.

China has granted independent refiners additional crude import quotas to allow them to continue to produce fuels at officially mandated levels, helping Beijing to cope with the impact of disrupted supplies from the Persian Gulf.

Oil rallied above $110 a barrel after US President Donald Trump vowed an escalation in the war in Iran over the coming weeks, a move that could prolong disruptions to energy flows through the vital Strait of Hormuz.

Oil dropped after President Donald Trump again signaled the potential end to the Iran war that’s roiled markets, even as the Strait of Hormuz remains largely closed and more US troops arrived in the region.

Oil declined after Iran and the US signaled openness toward a resolution in the conflict that’s upended global energy shipments, sanding away a long-standing risk premium in prices.

Oil declined after Iran and the US signaled openness toward a resolution in the conflict that’s upended global energy shipments, sanding away a long-standing risk premium in prices.

Oil is on track for its strongest ever monthly rally in London, even as prices fluctuated Tuesday, buffeted by ongoing attacks in the Persian Gulf and signs of President Donald Trump contemplating an exit from the Iran conflict.

Oil prices rose after President Donald Trump threatened attacks on Iran’s energy infrastructure, overshadowing his comments that a deal to end hostilities in the Middle East could be close.

Saudi Arabia’s oil sales to Asia’s two biggest importers are set to come in at lower-than-usual levels next month, as the war raging across the Middle East disrupts supplies from the energy powerhouse.

Oil jumped on Thursday as mixed messages from US President Donald Trump failed to convince traders that the prospect of talks with Iran will quickly bring an end to the war in the Middle East.