Oil
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.
US renews Russian oil waiver after pressure from countries dealing with Iran war price shocks
Five tankers seen loading oil on Iran's Kharg Island, as US blockades Strait of Hormuz - report
Shipping firms seek clarifications before crossing Hormuz as tankers move towards Strait
US-Israel war with Iran reshapes global alliances, benefits Russia - opinion
If there are any winners during the war with Iran, one may be Vladimir Putin, the man Trump has frequently called his “good friend.”
US sanctions Iranian oil shipping network run by son of Ali Shamkhani
Shamkhani’s network had previously been sanctioned by the Treasury in July of 2025. The US issued 115 sanctions against the group, according to a Treasury press release at the time.
Iran offers proposal allowing ships to exit Oman side of Hormuz free of attack, source says
The war with Iran has resulted in the largest-ever disruption of global oil and gas supplies due to Iran's interruption of traffic through the Strait of Hormuz.
Qatar warns 'full-fledged' Iran war impact about to hit global economy
At an IMF discussion in Washington, Qatari Finance Minister Ali Ahmed Al-Kuwari warned that the world will soon face huge economic ramifications resulting from the war with Iran.
Iran’s economy could collapse within three months under naval blockade, experts warn
An expert on Iran's military noted that Iranian authorities have previously declared that if they are denied access to their ports, they will prevent other countries in the region from using theirs.
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.
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.
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.
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.
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.
