Oil

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

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

Oil barrels and several hundred dollars; Illustrative.

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

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

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


Iran's threat to burn ships is choking off Persian Gulf oil flow to world - explainer

Shipping companies are already heeding Iran's warning, and the price of a gallon of gas is rising, most notably in California.

 US military forces boarded the crude oil tanker Aquila II in the Indian Ocean after pursuing it from the Caribbean. The vessel was accused of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela. February 9, 2026.

US offers $20b. reinsurance plan to spur Gulf oil flow amid Operation Epic Fury, Iranian attacks

The Trump administration is deploying a $20 billion maritime reinsurance program through the DFC to restore Hormuz shipping. Move targets soaring energy prices as Iran war halts Gulf commerce.

Oil tankers pass through the Strait of Hormuz, December 21, 2018.

Israel Air Force strikes Iranian oil facilities, military source says

Earlier, Iranian state media had reported that the Islamic Revolutionary Guards Corps said it had targeted the Haifa oil refinery in response.

Smoke rises following an explosion, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, March 7, 2026.

Traders warn $100-a-barrel oil is imminent if Iran war keeps raging

While oil and gas prices have surged this week, as ship traffic through the Strait of Hormuz has all but halted, they remain far below the highs seen just after Russia invaded Ukraine.

A sign shows gasoline prices that are significantly higher than the day before, when Super E10 was still below EUR 1.80, at a petrol station on March 02, 2026 in Berlin, Germany.

IRGC claims to have struck oil tanker in Strait of Hormuz, UKMTO issues warning in area

The IRGC claimed to have struck a Marshall Islands-flagged tanker in the Strait of Hormuz, according to a report by Iranian media.

Oil tankers pass through the Strait of Hormuz, December 21, 2018.

Trump on rising gas prices during Iran operation: 'If they rise, they rise'

Trump prioritizes the Iran military campaign, dismissing concerns over rising gas prices, as White House officials scramble for solutions to combat rising energy costs.

High gas prices are displayed at a downtown Chevron station on March 3, 2026 in Los Angeles, California.

Saudi Arabia intercepts Iranian ballistic missiles, drones, Bahrain suffers damage from Iran strike

Iran continues to launch attacks on Gulf countries, including Qatar's Al Udeid Air Base, amid operations Epic Fury and Roaring Lion, causing damage in Bahrain's capital, Manama.

A Patriot missile battery is seen near Prince Sultan air base at al-Kharj on February 20, 2020; illustrative.

Trump urges Iranian diplomats to seek asylum, vows total defeat of regime

Defense Secretary Pete Hegseth and CENTCOM chief Admiral Brad Cooper also gave a press conference at CENTCOM HQ, Florida, addressing the ongoing operation against Iran.

Inter Miami CF captain Lionel Messi gestures on the day US President Donald Trump honors reigning Major League Soccer (MLS) champion Inter Miami CF players and team officials with an event in the East Room of the White House in Washington, March 5, 2026.

China in talks with Iran to allow safe oil and gas passage through Hormuz, sources say

The war has left the critical shipping passageway all but shut, with Iran having moved to paralyze shipping through the Strait.

A navy vessel is seen sailing in the Strait of Hormuz, a vital waterway through which much of the world's oil and gas passes on March 1, 2026.

Chinese provinces were planning Tehran trade expos, then the war broke out

Chinese government procurement and tender records on Iran show contracts issued in recent months, pointing to the vibrant commercial engagement of the two nations.

The national flag of Iran flies in the wind as debris lies scattered in the aftermath of an Israeli and US strike on a police station, in Tehran, Iran, March 3, 2026