Oil

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

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

Smoke rises above Riyadh, Saudi Arabia, March 5, 2026

Iran’s oil gamble could turn Gulf attrition into Tehran’s own nightmare - opinion

A firefighter is seen on a site, as smoke billows from a fire at oil refinery, owned by Russian oil producer Gazprom Neft, in Moscow, Russia, November 17, 2018.

Ukraine attacks Russian oil refinery 700 km deep into Russian territory


Iraq turns to Syria for oil exports after Hormuz disruptions from US blockade

Iraq is rerouting oil exports through Syria’s Baniyas terminal as its maritime oil shipments face disruptions due to the Iranian and US blockades of the Strait of Hormuz.

Luojiashan tanker sits anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 7, 2026.

US will not renew waiver on Iranian oil as it mounts pressure on Tehran, sources say

The waiver, which the Treasury Department issued on March 20, allowed some 140 million barrels of oil to reach global markets and helped relieve pressure on energy supply during the war with Iran.

A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026.

Saudi Arabia asks US to end Hormuz blockade amid worries of possible Houthi retaliation - WSJ

Saudi officials appear to be weighing not only the direct risks in the Gulf, but also the possibility that Iran could respond through allied forces elsewhere in the region.

US President Donald Trump and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia interact during the US-Saudi Investment Forum in Washington, US, November 19, 2025.

Food shortages and rising costs: UN agency warns of global food crisis if Hormuz remains blocked

The closure of the narrow waterway, which normally carries around a fifth of global Liquified Natural Gas supplies, will have a rippling impact beyond the Middle East, Maximo Torero warned.

A map showing the Strait of Hormuz is seen in this illustration taken June 22, 2025.

IMF warns of potential global recession if Iran war worsens in latest economic outlook report

The report notes that the worst-case "severe scenario," which assumes an extended conflict and high oil prices, would lead the world into another recession.

Oil barrels and several hundred dollars; Illustrative.

Iran’s oil minister: Crude sales remain strong, revenue to aid industry repairs

Iran’s oil sales remain strong despite the ongoing conflict, with revenue allocated to repairing industry damage caused by wartime attacks, says the oil minister.

A view of an oil facility in the Khark Island, on the shore of the Gulf.

Chinese tanker sanctioned by US crosses Strait of Hormuz despite blockade

A US-sanctioned Chinese tanker, Rich Starry, crosses the Strait of Hormuz, becoming the first to exit the Gulf since the US blockade began, carrying methanol from the UAE.

An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026.

NATO allies refuse to join Trump's Strait of Hormuz blockade

Trump said the US military would work with other countries to block all maritime traffic in the waterway, after weekend talks failed to reach an agreement to end the six-week conflict with Iran.

US President Donald Trump holds a bilateral meeting with NATO Secretary General Mark Rutte at the World Economic Forum (WEF) in Davos, Switzerland, January 21, 2026.

What does a US naval blockade of Iran mean for oil flows? - explainer

After weekend peace talks in Islamabad between negotiators from the US and Iran ended without a deal, US President Donald Trump ordered a full blockade on the Strait of Hormuz.

A vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province, April 12, 2026.

IMF warns Strait of Hormuz might never be back to normal

The IMF warned that the situation at Hormuz could be similar to the one in Bab-al-Mandeb, where shipping lanes haven’t yet recovered ever since the first Houthi attack.

A map showing the Strait of Hormuz is seen in this illustration taken June 22, 2025.