Oil

Several oil companies to avoid using ships on Iran's blacklist over security concerns, sources say

"We will avoid our chartered vessels dealing in STS or anything to do with non-compliant ships for Middle Eastern cargoes," said one of the sources, who works at an Indian refinery.

Drone view of oil tanker HELGA berthed at one of Iraq's southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026.
Fans take pictures with a Lego World Cup trophy as they attend a watch party for the France vs Spain FIFA World Cup Semifinal match at Rockefeller Center on July 14, 2026 in New York City.

Lego sales rise as World Cup products draw new customers, despite Iran war raising cost of plastics

A drone view shows vessels in the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026.

Strait of Hormuz traffic plunges as Iran, US blockades restrict energy shipments

An Iranian flag flutters in the wind as ships remain anchored in the Strait of Hormuz on May 16. Negotiations between the US and Iran over opening this critical waterway have largely stalled.

Iran made billions of dollars, bypassed sanctions amid US blockade, top official Rezaee claims


Houthis to strike Saudi oil facilities if Riyadh escalates in Yemen, leader warns

The warning came after the Houthis fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under their control on Monday, marking a rupture in a four-year truce.

A person holds a poster of Houthi leader, Abdul-Malik al-Houthi, amid protests at the Sana'a University campus in support of the Houthi movement, in Sana'a, Yemen, July 15, 2026

US supporting efforts to revive Iraq-Syria crude oil pipeline, US official says

Bloomberg reported that Chevron could play a role in rebuilding the pipeline, though the company declined to comment.

Performing checks at Turkey’s Mediterranean port of Ceyhan, run by state owned Petroleum Pipeline Corporation (BOTAS). Crude oil flows through the Kirkuk Ceyhan pipeline, linking Iraq to Turkey; Illustrative.

Oil and the shaping of modern commodity economies in the Middle East

Oil has shaped economies, industries, and international relations for more than a century. This article explores its global impact, market role, and evolving place in the energy landscape.

Oil has shaped the economies, cities, and global influence of the modern Middle East.

Oil prices surge more than 3% as US-Iran strikes fuel Hormuz fear

"The Strait of Hormuz is a vital maritime corridor for global trade. Iran does not control it," CENTCOM said following its strikes on dozens of Iranian targets.

US and Iranian flags, 3D printed oil barrels and rising stock graph are seen in this illustration taken March 23, 2026.

UAE plans to build new ports, oil hubs in Gulf of Oman to bypass Strait of Hormuz closure - report

According to a report by FT, the new port would be built in the city of Fujairah, which already has a harbor but lacks the necessary infrastructure to serve as a major export hub.

STRAIT OF HORMUZ, OMAN/IRAN -- JUNE 16, 2026: 01 -- Maps4media-processed Sentinel-2 satellite imagery shows a broad overview of the Strait of Hormuz, including the Musandam Peninsula, nearby islands, coastal shallows, and the narrow maritime corridor linking the Persian Gulf with the Gulf of Oman.

Strait of Hormuz traffic slows as US-Iran conflict raises new safety risks

Six vessels transited the strait on Sunday, ship-tracking data from Kpler showed, the lowest number in five weeks.

A ship in the Strait of Hormuz, June 2026

‘Viceroy’ of Venezuela: Rubio runs Caracas with total deference from interim president - report

Marco Rubio has been running Venezuela's finances, government, and natural resources without stepping foot in the country, dozens of sources told the NYT.

U.S. Secretary of State Marco Rubio attends a trilateral meeting with Japanese Foreign Minister Motegi Toshimitsu and South Korean Foreign Minister Cho Hyun (not pictured) on the sidelines of the NATO leaders' summit, in Ankara, Turkey, July 7, 2026.

Trump says Strait of Hormuz open to commercial traffic

"We had a meeting with them, where they agreed to a deal that was perfect for us...And then, after that, they left the room and within an hour they launched a drone at a ship," Trump said.

This frame grab taken from AFPTV video footage on July 12, 2026 shows cargo ships anchoring near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan.

Iraqi prime minister to visit Washington on Monday, oil and gas deals expected

"The agreements to be signed will include several memorandums of understanding in the oil and gas sector as Iraq prepares to bring in various US companies," a government spokesperson said.

Iraqi Prime Minister-designate Ali al-Zaidi speaks during a parliamentary session to vote in a new government headed by Ali al-Zaidi as prime minister, at the parliament headquarters in Baghdad, Iraq, May 14, 2026.

Can Kurdistan follow Israel's lead to become the Middle East's next Start-Up Nation? - analysis

Kurdistan does not need to copy Israel, but it can learn from its journey from a small and politically uncertain environment to a start-up and tech superpower.

Image Reboot: A female fighter from from the Kurdistan Freedom Party (PAK)  trains at a base near Erbil, Iraq, in Feb.