--- title: "Dow Jones Top Energy Headlines at 4 PM ET: Global oil prices dip below $87 a barrel after new Iran ceasefire proposal. Blockade on Saudi by Yemen's Houthis keeps losses in check. | Why ..." type: "News" locale: "en" url: "https://longbridge.com/en/news/293251619.md" description: "Global oil prices dipped below $87/barrel following a US-Iran ceasefire proposal, though Houthi blockades in the Red Sea limited losses. BP sold its Austrian mobility business to Volenergy. Meanwhile, China dominates the US battery storage market, and the US Strategic Petroleum Reserve hit record lows. Gas prices remain high due to refining strains and diesel supply crunches, while Chevron explores alternatives for Iraqi oil exports." datetime: "2026-07-20T20:23:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293251619.md) - [en](https://longbridge.com/en/news/293251619.md) - [zh-HK](https://longbridge.com/zh-HK/news/293251619.md) generator: "portal-rs" --- # Dow Jones Top Energy Headlines at 4 PM ET: Global oil prices dip below $87 a barrel after new Iran ceasefire proposal. Blockade on Saudi by Yemen's Houthis keeps losses in check. | Why ... Global oil prices dip below $87 a barrel after new Iran ceasefire proposal. Blockade on Saudi by Yemen's Houthis keeps losses in check. Oil prices took a dive into the red on Monday, reversing an earlier sharp rally, after a report of a 10-day ceasefire proposal between the U.S. and Iran sparked a sharp decline in energy prices ---- Why Are Gas Prices Topping $4 When Oil Is Falling? The market is shrugging off the escalation in fighting between the U.S. and Iran-but Americans could feel the impact at the pump. ---- EU to Ease Methane Rules After U.S. Pressure The Trump administration and industry groups had said the rules were too hard to comply with and could lead to energy shortages. ---- BP to Sell Austrian Mobility Business to Volenergy The energy company agreed to sell its Austrian petrol station and EV charging businesses to Volenergy for an undisclosed sum, as it continues to exit the retail space. ---- The Key to Solar and Wind Power Is Battery Storage, and China Is Dominating Chinese suppliers have 90% of the U.S. energy-storage market, generating concern in Washington about overreliance on its rival. ---- U.S. Emergency Oil Reserve Hits Lowest Levels Since 1983: Why It Matters Video: WSJ's David Uberti explains how the Strategic Petroleum Reserve works to help blunt the impact of oil shocks such as the Iran War. ---- Iran Rushed Out $6 Billion of Oil During Brief Truce With U.S. About 20 Iranian tankers carrying millions of barrels of oil set sail for Asia-likely for sail to China-after the U.S. lifted its blockade. ---- Costco Gas Pumps Are So Popular the Retailer Is Building Stand-Alone Stations As space becomes scarce, the company is experimenting with new store formats. ---- The Threat to Saudi Arabia's Main Oil-Export Route Is Growing Yemen's Iran-backed Houthi militia has shut off the Red Sea before, and its leader is again warning of escalation. ---- Gas Prices Will Stay Higher for Longer, Even if Oil Falls Refining capacity is strained, and fuel markets don't have much of a buffer. ---- Chevron Will Explore Creating Strait of Hormuz Alternative for Iraqi Oil The U.S. energy producer is looking at investing in oil fields and a pipeline to boost Iraq's oil exports. ---- Sharp Drop in Diesel Supplies Threatens to Rev Up Inflation Again Truckers and farmers are facing a supply crunch that is pushing prices higher. (END) Dow Jones Newswires July 20, 2026 16:15 ET (20:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### Related Stocks - [CVX.US](https://longbridge.com/en/quote/CVX.US.md) - [BP.US](https://longbridge.com/en/quote/BP.US.md) - [USOI.US](https://longbridge.com/en/quote/USOI.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [03097.HK](https://longbridge.com/en/quote/03097.HK.md) - [BOIL.US](https://longbridge.com/en/quote/BOIL.US.md) - [UNL.US](https://longbridge.com/en/quote/UNL.US.md) - [IXC.US](https://longbridge.com/en/quote/IXC.US.md) - [KOLD.US](https://longbridge.com/en/quote/KOLD.US.md) - [UNG.US](https://longbridge.com/en/quote/UNG.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [BPH.US](https://longbridge.com/en/quote/BPH.US.md) - [03175.HK](https://longbridge.com/en/quote/03175.HK.md) - [ERX.US](https://longbridge.com/en/quote/ERX.US.md) - [IEO.US](https://longbridge.com/en/quote/IEO.US.md) - [XLE.US](https://longbridge.com/en/quote/XLE.US.md) - [ERY.US](https://longbridge.com/en/quote/ERY.US.md) - [VDE.US](https://longbridge.com/en/quote/VDE.US.md) - [XOP.US](https://longbridge.com/en/quote/XOP.US.md) - [IEZ.US](https://longbridge.com/en/quote/IEZ.US.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) - [XES.US](https://longbridge.com/en/quote/XES.US.md) - [PXJ.US](https://longbridge.com/en/quote/PXJ.US.md) - [CRAK.US](https://longbridge.com/en/quote/CRAK.US.md) - [DUG.US](https://longbridge.com/en/quote/DUG.US.md) - [MLPA.US](https://longbridge.com/en/quote/MLPA.US.md) - [COST.US](https://longbridge.com/en/quote/COST.US.md) - [BP.UK](https://longbridge.com/en/quote/BP.UK.md) ## Related News & Research - [Oil set for second weekly rise as unsettled US-Iran war crimps supply](https://longbridge.com/en/news/296555193.md) - [Oil prices steady as investors assess US-Iran war outlook](https://longbridge.com/en/news/296417823.md) - [Oil edges up on uncertainty over exports through Hormuz](https://longbridge.com/en/news/296282399.md) - [Oil extends climb on prolonged Hormuz export uncertainty](https://longbridge.com/en/news/296302371.md) - [The Iran War Sent Gas Prices Skyrocketing, but the US Now Faces a Diesel Problem](https://longbridge.com/en/news/296343018.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**