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Brent crude traders, Petroleum Development Oman, US and Iran
Middle East, Oman, Houston
June 6, 2026
"Brent crude and WTI futures fell on Friday as market fears of US-Iran escalation subsided. Operations at Oman's Mina al Fahal port remain unaffected despite reports of an explosion nearby. Iranian oil exports have hit a six-year low due to US naval blockades."
Author: Daniel Yergin
This definitive history of the global oil industry provides essential context on how geopolitical tensions in the Middle East directly influence oil markets and global stability.