Oil

US halts Iran strikes 'for time being,' as focus shifts to economic sanctions, Rubio says - report

Operation Economic Outcast was announced on Monday by US Treasury Secretary Scott Bessent, following earlier threats of an "economic D-Day" against the regime.

US Secretary of State Marco Rubio speaks during a cabinet meeting at Camp David in Thurmont, Maryland, US, July 31, 2026.
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.

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

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


Shippers remain cautious on Strait of Hormuz transit after US, Iran agree on deal

Shippers have welcomed the news of the deal but are still waiting for more details, including mine clearance in the strait.

Vessels are anchored in the Strait of Hormuz, as seen from Musandam, Oman, June 10, 2026.

How a Venezuelan bailout became a threat to Spain's political establishment

WORLD AFFAIRS: This week, former Spanish prime minister José Luis Rodriguez Zapatero will make history as the first person of his standing to appear before the National Court.

A VEHICLE with an electronic board displays the word ‘criminals’ over images of ousted Venezuelan president Nicolás Maduro (right), former Spanish prime minister José Luis Rodriguez Zapatero (middle), and Spanish Prime Minister Pedro Sánchez (right) in New York City in March.

Trump says agreement with Iran approved by all parties involved, including Israel, cancels strikes

The MOU would extend the ceasefire for 60 days, including in Lebanon, during which time nuclear negotiations would be held, according to an Axios report.

US President Donald Trump gestures as he boards Air Force One, after attending Game 3 of the NBA Finals, at John F. Kennedy International Airport in New York, June 8, 2026.

Three sailors dead from US strikes on tanker off Oman, India confirms

The deaths are the first reported since the blockade began on April 13, operations which have seen the US disable eight ships and turn back more than 100 others.

INDIAN VESSEL 'Nanda Devi' carrying liquefied petroleum gas (LPG) arrives at Vadinar Port in the Jamnagar district of Gujarat state on March 17, 2026 after Iran allowed it to pass through the Strait of Hormuz, a key energy corridor that remains disrupted by the Middle East war.

As Iran threatens regional fuel shipping, Azerbaijan becomes Israel’s gas buffer

Backup supplies from SOCAR are giving Egypt and Jordan alternatives when Israeli gas exports are disrupted, while keeping Israel linked to regional customers that may avoid direct purchases.

ASAF HASANLI, a specialist with Azerbaijan’s state oil company SOCAR, at the Caspian Oil and Gas trade show during Baku Energy Week in Baku, Azerbaijan, June 3, 2026.

US energy secretary says lower gas prices will ultimately take resolution with Iran

"The pathway to bring gasoline and diesel prices back down is to get more oil flowing through the Strait of Hormuz," US Energy Secretary Chris Wright said in an interview.

US Secretary of Energy Chris Wright speaks during a press conference discussing fertilizer policy at USDA Headquarters in Washington, DC, US, May 19, 2026.

Chevron launches Israel energy-tech accelerator for early stage startups

Chevron Studio Israel will fund and mentor early-stage technologies from Israeli universities and research institutions, with a focus on AI, cybersecurity, hydrogen, and lower-carbon energy solutions.

Jack Baker, Managing Director of Chevron’s Eastern Mediterranean region.

France intercepts another 'shadow fleet' tanker linked to Russian oil

The tanker, which had sailed from Russia's Arctic port of Murmansk, was suspected of flying under a false flag and was intercepted with support from Britain, French President Emmanuel Macron said.

French Navy personnel approach an oil tanker, subject to international sanctions and sailing from Russia, in the Atlantic Ocean, in this handout obtained by Reuters on June 1, 2026.

UAE conducted dozens of airstrikes on Iran using US, Israeli intel during war - report

One such strike was on the Asaluyeh petrochemical complex, and was carried out with Israel, the WSJ wrote, and led to international condemnation.

An Emirati F-16E fighter jet; illustrative.

Iran avoids US sanctions via ship-to-ship transfers of oil, may receive payment for months - report

The ships receiving the oil are often part of Iran’s “shadow fleet,” a fleet of old, rusting tankers that obscure their owners and may switch their flags to those of countries with little oversight.

A cargo ship unloads imported crude oil at the Qingdao crude oil terminal in China's eastern Shandong province on May 11, 2026.