VanEck Oil Services ETF

OIH

Market cap $2.06B

Crude oil futures plunged as Iran kept the Strait of Hormuz open, easing supply fears and shifting the oil outlook bearish as traders unwind risk premium.

TD Cowen's Jason Gabelman joins 'Closing Bell Overtime' to talk the recovery process for the energy market.

Goldman Sachs said softer oil demand and easing supply disruptions have balanced out the risks in its oil price outlook, ​though it kept its 2026 average forecasts unchanged.

Oil is surging but this isn't just about prices at the pump. It's about a bigger macro shift.

Oil prices plummeted to their lowest level in more than a month on Friday after Iran declared the Strait of Hormuz "completely open" for the duration of a 10-day ceasefire between Israel and Lebanon.

Oil prices dropped over 10% after Iran's foreign minister announces the Strait of Hormuz is open to commercial traffic for the Israel-Lebanon ceasefire.

Six weeks into Iran's blockade of the Strait of Hormuz and the numbers tell a stark story. Where nearly 50 oil and gas tankers were passing through the strait on an average day in February, that figure has collapsed to just 3.5 a day in April.

Crude oil drops on signs of optimism in the Middle East. That being said, we will still be waiting for an actual peace deal.

Reopened Middle East shipping and plummeting oil prices on Friday boosted bets the U.S. Federal ​Reserve may begin cutting interest rates as soon as December, but officials ‌still face a tangled outlook ahead of their April 28-29 policy meeting.

Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) said on Friday it plans to raise up to C$2 million through a non-brokered private placement to fund near-term obligations tied to its oil assets in Türkiye. The company intends to issue up to 13.3 million units at C$0.15 each, with each unit made up of one common share and one-half of a warrant, with each whole warrant exercisable at C$0.25 for one year.Proceeds from the financing will primarily be used to support work commitments under the company's farm-in agreement on the M47 concession in southeastern Türkiye, along with general working capital, offering expenses and limited investor relations activities.