Oil

Nations to discuss fossil fuel exit as Strait of Hormuz blockade drives up prices

The gathering of ministers and officials in Santa Marta, Colombia, which starts on Tuesday, will focus on practical steps to shift economies away from fossil fuels.

US FORCES patrol the Arabian Sea near M/V Touska on April 20, 2026, after firing upon the Iranian-flagged vessel that the US accused of attempting to violate the US naval blockade of Iranian ports near the Strait of Hormuz.
Vessels in the Strait of Hormuz, Musandam, Oman, April 27, 2026.

Russian superyacht crosses Strait of Hormuz as shipping traffic remains muted

An aerial view shows a petrochemical plant in operation by the Yangtze River in Nanjing, in eastern China's Jiangsu province November 26, 2025.

US imposes sanctions on Chinese 'teapot' refinery for buying Iranian oil

US Treasury Secretary Scott Bessent looks on as he speaks to the media after two days of meetings with a Chinese delegation, in Paris, France March 16, 2026

US will not renew Iranian, Russian oil waivers, Treasury Secretary tells Associated Press


Iran uses fast boats to seize container ships in Strait of Hormuz, challenging US blockade

Iran's "fast-attack" ships have not been considered much of a threat, according to Trump, but have since been used to seize two container ships near the Strait.

Ships and boats in the Strait of Hormuz, Musandam, Oman, April 22, 2026.

Ships seized by Iran taken to Bandar Abbas as countries check on sailors' wellbeing

The IRGC seized the ships on Wednesday, with both crews reported as safe, as their home countries actively seek their return.

US forces patrol the Arabian Sea near M/V Touska on April 20, 2026, after firing upon the Iranian-flagged vessel that the U.S. accused of attempting to violate the U.S. naval blockade of Iranian ports near the Strait of Hormuz.

Trump's Op. Economic Fury pressure campaign on Iran expands beyond Hormuz blockade - report

Operation Economic Fury began with the blockade of Iranian ports in the Strait of Hormuz before expanding to ships providing support to the Iranian regime in international waters.

Chairman of the Joint Chiefs of Staff General Dan Caine speaks next to a map showing a blockade line on the Strait of Hormuz, during a briefing on the Iran war at the Pentagon in Washington, DC, US, April 16, 2026.

EU focuses on electricity tax cuts, gas storage amid Iran war energy crisis

The EU plans to cut electricity taxes and coordinate gas storage efforts to mitigate the energy fallout from the Iran conflict, without major market interventions.

European Union flags flutter outside the European Commission headquarters in Brussels, Belgium Februrary 26, 2026.

EU warns of summer fuel shortages as Iran war drives global energy crisis

The EU is preparing measures to curb the impact the war is having on jet fuel supply, Jorgensen told reporters in Madrid.

Fuel price display at a Total Energies service station illustrating rising energy prices amid geopolitical tensions in the Middle East in Propriano South Corsica France on April 20, 2026.

After Iran war, attack on Gulf States, will the GCC withdraw from Arab League - analysis

Abdullah Al-Khamis, a Kuwaiti political journalist, proposes an alternative: an Arab coordination council comprising the Gulf states, Jordan, Morocco, and Syria.

Jordan's Foreign Minister Ayman Safadi chairs an extraordinary meeting of Arab League foreign ministers day before the 51st Session of the Council of Foreign Ministers of the Organisation of Islamic Cooperation (OIC), in Istanbul, Turkey, June 20, 2025

Oil surges, stocks fall as US-Iran tensions threaten Strait of Hormuz shipping flows driving risk

Iran rejected new peace talks with the US, its state news agency reported on Sunday, hours after US President Donald Trump said he was sending envoys for talks in Pakistan

An illustration of oil barrels, pipelines, and drills, over the backdrop of US and Iranian flags.

Qatar facing 'strategic shock' in energy, influence crisis in wake of Iran war

During the war, Qatar faced around 700 Iranian missile and drone attacks targeting US bases on its territory. Although no civilian casualties were reported, its economy faced devastating impacts.

People gather as smoke rises at the Industrial Area after reported Iranian missile attacks, following United States and Israel strikes on Iran, in Doha, Qatar, March 1, 2026

At least four injured in incident at BP refinery near Seattle

At least four people were injured, with three hospitalized, following an explosion at BP's Cherry Point Refinery in Blaine, Washington.

BP Cherry Point Refinery, near Seattle, Washington; illustrative.

US renews Russian oil waiver after pressure from countries dealing with Iran war price shocks

The Treasury Department's waiver lets countries purchase Russian oil and petroleum products loaded on vessels as of Friday through May 16.

An aerial view shows the oil tanker named Boracay (also called Pushpa), a vessel being investigated by French authorities and suspected of belonging to the so-called "shadow fleet" involved in the Russian oil trade, off the coast of the western France port of Saint-Nazaire, France, October 2, 2025