r/oil 12h ago

Daily Oil Price Opinions - September 01, 2026 All other Oil Price Posts Will Be Removed

10 Upvotes

What are your thoughts on today’s oil price? Drop your opinions, predictions, charts, memes , low and high effort post, your AI slop or even analysis below. Keep it civil and on-topic! This post is renewed daily.

Unless there is some compelling reason, other posts in the sub about oil prices will be removed. In a futile effort to improve the quality.

(Current WTI/Brent price can be checked on any major site.)


r/oil 2d ago

Weekly MEGATHREAD August 30, 2026 : US Blockade of the Strait of Hormuz is LIVE – All tanker drama, oil panic, missile hits, Iran retaliation posts belong HERE

9 Upvotes

This is posted weekly at 0900 am AUET on Monday

This is the one official Hormuz Blockade Weekly Megathread

Is it open yet: https://www.ishormuzopenyet.com/

Everything else gets yeeted into the void (or at least politely redirected here). New articles, memes, wild speculation, questions about how screwed your superannuation is, grainy satellite pics of tankers doing U-turns — drop it all below.

Overview on Iran and the situation: https://www.iransitrep.com/


r/oil 1h ago

Trump Trump in pre-election video: Venezuela oil is like tar. It’s the dirtiest, worst oil anywhere in the World

Enable HLS to view with audio, or disable this notification

Upvotes

"Can you believe it, we're buying that tar and refining it Houston, and polluting the air, despite having the most oil under our feet than any other nation".

So, what changed?


r/oil 6h ago

Iran War VLCC hit in the Hormuz - appears to be spilling crude

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336 Upvotes

It would appear one of the two VLCCs which Iran claims to have hit.. SIDR and Senegal Prosperity is spilling crude. SAR images on Sentinel/Copernicus just landed for the region.


r/oil 1h ago

Iran War US army secretary Driscoll resigns

Upvotes

According to early reports, he told the president the United States is losing the war with Iran and does not have enough equipment to continue it, as well as expressing frustration that it has prevented Pentagon budget from getting passed.

Also noteworthy, the army secretary was a personal friend of VP Vance and an expert on drone warfare. (Edit: as someone pointed out in the comments, more accurately he was The advocate for taking drone warfare seriously and Hegseth firing the real experts who work for him seems to have been one of the reasons he decided to actually resign)

The chief of staff of the army is also currently vacant, so this resignation renders the army without either senate-confirmed leader

could this have any meaningful impacts on the war in Iran, such as making it more difficult for the United States to maintain blockade or making it more difficult to convince others to trust the escort missions through the strait of Hormuz?


r/oil 10h ago

News Western media confirmed hit of Saudi and South Korean oil tankers

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403 Upvotes

It's useful to include examples when confirmed by both western and Iranian media. I'm writing this as the cost of diesel and natural gas is soaring in the UK.


r/oil 47m ago

Discussion OPEC is fading away and XI is ready to take control.

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Upvotes

OPEC solved our energy crisis in the 80s ironic Trump kills it during another shock.


r/oil 20m ago

Discussion Diesel poised to hit record high in USA

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Upvotes

This seems to be going in the wrong direction, and no obvious trigger to reverse this trend; if anything, things are getting worse.


r/oil 1h ago

Discussion Could the latest US escalation against Iran and Trump careless statements in the last couple of days be explained by Trump false confidence?

Upvotes

So I noticed in the last couple of days trump is attacking in the middle of week and he makes careless statements similar to the ones he used to make at the start of the war. could the latest deal with Venezuela, the d day sanctions, the somewhat manageable prices and the relative increase in oil volume through the strait gave Trump a renewed feel of self assurance and confidence to act in such a counter productive way or am I reading too much into this?


r/oil 55m ago

News Trans Mountain files pitch for new pipeline expansion, as Canada aims to boost oil exports to Asia

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Upvotes

r/oil 15h ago

News SPR falls by 3.1 million, to 286.6 million barrels.

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259 Upvotes

There are now about 43½ million barrels left of what was allotted for release earlier this year.


r/oil 7h ago

Discussion Chevron Houston refinery suspending operations due to storm

66 Upvotes

I saw a fox news article claiming at least one refinery is shutting down briefly. I'm sure some platforms have must be shutting down as well.


r/oil 1d ago

News Saudi oil tanker hit by Iran in Hormuz

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1.2k Upvotes

r/oil 14h ago

News Most ships exiting the strait of Hormuz are heading to China.

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203 Upvotes

r/oil 3h ago

OIl Price Speculation US-Venezuela Oil Deal Sparks Debate Over Impact

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12 Upvotes

The U.S. has secured a deal to control 65 billion barrels of Venezuelan oil. A debate has been sparked discussing if this is even legal. Experts say the deal is unlikely to lower U.S. gas prices in the short term.


r/oil 21h ago

Discussion This is an interesting development in terms of timing.

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297 Upvotes

Has this ever happened before?


r/oil 8h ago

News Russia cuts expected 2026 oil output to 17-year low on war fallout, draft forecasts show

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30 Upvotes

r/oil 16h ago

Iran War SAUDI tankers: One hit, four others seen moving out of Gulf of Oman

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101 Upvotes

It would appear five SAUDI oil/chemical tankers are on the move.

- VLCC SIDR is in ballast and was making a dark transit in, likely to a port in SA while it was hit in the Hormuz, by three projectiles from Iran (as reported by UKMTO.)

Right after, 4 SAUDI tankers were seen to make their way out of the GoO

- VLCC QASBA fully laden with 2 million barrels, is reportedly headed to Daxie #China
- VLCC QAMRAN, also fully laden with 2 million barrels, outbound - no destination mentioned
- Panamax YAQUT, had made PG run in/out dark between 23rd-27th, loaded up at Al Jubayl and is now headed for Hazaria in India
- Medium Range, NCC FAJR also made a PG run in/out dark 19th-26th and came back out laden from Al Jubayl, headed for Hazaria, India.


r/oil 7h ago

News Tropical Storm Edouard Threatens Texas Refineries: Are Oil and LNG Operations Affected?

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18 Upvotes

r/oil 1d ago

Iran War Iran got pissed off now they unloaded 3 rockets at the same ship

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254 Upvotes

r/oil 14h ago

Trump The U.S. doesn’t have a state-owned oil giant. But in Venezuela, the federal government will control a company with the world’s 2nd largest reserves

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43 Upvotes

r/oil 18h ago

News Return to Peak Venezuela Oil Output to Take Decades, Rystad Says

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59 Upvotes

r/oil 1d ago

News As Trump pivots to Venezuela for energy, U.S big oil and big money invest in Canada

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154 Upvotes

r/oil 1d ago

News TD5 has formed in the GoM and is forecast to hit Texas as a Tropical Storm on Wednesday

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151 Upvotes

r/oil 17h ago

News Trump's oil deal with Venezuela raises red flags for some major producers, sources say

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28 Upvotes