Oil

Gulf states pay the price as shipping crisis exposes costly dependence on the Strait of Hormuz

"A lot of the necessities, and I'm talking food, that these Gulf nations require - Kuwait, the UAE, Bahrain, Qatar, Saudi Arabia - comes in by boat," and flying in goods is causing prices to rise.

The sun sets behind the Doha skyline on August 4, 2026.
Alberta separatists rally outside the offices of Elections Alberta before turning in a petition to trigger a referendum on separating from the rest of Canada in Edmonton, Alberta, Canada May 4, 2026.

The 51st state? Alberta set to vote on whether to pursue separation from Canada - explainer

A satellite image shows trail of smoke rising from an oil facility, in Jizan, Jazan province, Saudi Arabia, July 26, 2026.

Yemen's Houthis attack Saudi Aramco's refinery in Jazan, Saudi Arabia, even after Mecca Pact signed

A satellite image of Kharg Island, Iran, before US strikes, February 25, 2026.

Iranian oil exports come to a halt amid renewed US blockade - report


Trump warns US can wipe out Iran's power grid in 'small part of an afternoon' if deal not reached

The president said, "We freed up the blockade because we're close to maybe making a deal - I don't know, look - we're going to win one way or the other."

US President Donald Trump gestures after ringing the opening bell for the New York Stock Exchange (NYSE) and Nasdaq during an event to mark the launch of "Trump Accounts" in the Oval Office at the White House in Washington, July 6, 2026.

Iran begins talks with Japanese firms on oil sales under temporary US sanctions waiver

A senior Iranian official said any deal would require the US to extend the current waiver given the shipping time between Japan and Iran.

 Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023.

Iraq, Turkey discuss protocol to keep oil exports flowing, Iraqi foreign ministry says

Iraq and Turkey are expected to sign an executive protocol to ensure the continuation of Iraqi oil exports.

 TURKEY-IRAQ-KURDS-MILITARY-DRILL A photographer takes pictures as soldiers stand next to tanks bearing Turkish and Iraqi flags during a joint military exercise near the Turkish-Iraqi border at Silopi district in Sirnak on September 26, 2017.

Russia launches massive attack on Kyiv, killing at least 10 in retaliation for Ukrainian strikes

Tymur Tkachenko, the head of the capital's ​military administration, said 56 people, including two children, were injured and three dozen locations across the city had been damaged in the attacks.

Firefighters take a break as they work at a site of a Russian missile and drone strikes, amid Russia’s attack on Ukraine, in Kyiv, Ukraine, July 2, 2026.

Iran sold 50 million barrels of oil since the lifting of the American blockade

According to expert estimates, Iran's revenues total approximately $3.5 billion – based on oil prices over the past two weeks.

Iran flag at a Persian Gulf oil facility, July 2005

Rig explosion in Venezuela leaves at least 17 workers wounded, evacuated to Colombia

The wounded were taken to neighboring Colombia for medical treatment as the cause of the blast remains unclear.

Workers of Venezuelan state oil company PDVSA at a rig near Cabimas, Venezuela, January 27, 2026.; illustrative.

IRGC dismisses claim 20 m. barrels of oil used to promote, fund war effort

Mohebbi’s assertion of Tehran’s responsibility did not touch upon the fact that the IRGC’s oil allocation already tripled last year, security expert Roger Macmillan explained to The Jerusalem Post. 

OIL TANKER Al Shaffiah sails at the sea near the Omani coast, as seen from Musandam, Oman, June 26, 2026.

Iran, US to work on negotiating peace deal in Doha after de-escalating weekend strikes

Mediators have established communications channels to de-escalate any incidents, and technical talks are set to continue, the source, with knowledge of the discussions, added.

IRAN'S DELEGATION including Minister of Foreign Affairs of Iran Abbas Araghchi (C) and Speaker of the Islamic Parliament of Iran, Mohammed Bagher Ghalibaf (2ndR) arrive for a quadrilateral meeting between the United States, Iran, Pakistan and Qatar at the Burgenstock luxury hotel complex.

Iran to pursue human rights cases against the US, will seize assets, judiciary chief announces

At the American Human Rights Week event, Ejei claimed that courts had already issued rulings against American officials “who have committed crimes against our people.”

IRAN'S JUDICIARY Chief Gholam-Hossein Mohseni Ejei (C) attends a gathering at the Imam Khomeini Mosque (Mosalla) to commemorate those killed in former wars and also those killed during the latest US-Israel led war, in Tehran on May 24, 2026.

Saudi Aramco helicopter crashes in Ras Tanura, at least 14 killed, authorities confirm

Ras Tanura hosts the largest refinery in the Middle East, and it is operated by Saudi Aramco, who own the helicopter involved in the incident.

General view of Aramco tanks and oil pipe at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018; illustrative.