Oil

World Bank warns of 16% rise in commodity pricing over Hormuz closure

World Bank forecasts a 24% rise in energy prices in 2026, driven by the Iran conflict and the continued closure of the Strait of Hormuz, affecting global markets.

 A participant stands near a logo of the World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018
A woman walks past a billboard featuring an image of the late Supreme Leader of Iran, Ayatollah Ali Khamenei, on a building, amid a ceasefire between US and Iran, in Tehran, Iran, April 27, 2026

Behind Tehran’s calm, Iran faces deepening economic collapse

 A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020.

UAE exit weakens OPEC+ power over oil market but group to stay together, sources say - analysis

Sheikh Hamdan bin Mohamed Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defence and Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and UAE National Security Adviser, arrive at Doha International Airport, in Doha, Qatar, September 10, 2025

UAE taking advantage of long-term global energy needs by leaving OPEC - analysis


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.

Americans weigh in on the Iran war, gas prices, their fears

Reuters spoke with 16 people across Indiana, New York, California, Georgia, and Colorado to understand how they are processing the war amid rapid news cycles and a fractured political landscape.

People wave Iranian flags and signs condemning the war on Iran as they march past the Eisenhower Executive Building during a protest in Washington, DC, on February 28, 2026.

US says Iran lost track of mine locations spread in Strait of Hormuz, complicating reopening - NYT

The mines, which were laid by small boats and without a clear record of where they were placed, make the Strait of Hormuz almost impossible to transit.

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

Iran-linked ships drive traffic through Strait of Hormuz, ship tracking data shows

Despite a two-week ceasefire between Iran and the US, most vessels sailing through the Strait of Hormuz in the past day are linked to Iran, according to ship tracking data.

Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the US-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026.

US consumer inflation expected to have surged in March amid Iran war

March's US Consumer Price Index is expected to show a sharp increase due to soaring oil prices from the Iran conflict, dampening hopes for a rate cut this year.

An illustration of rising prices following US-Iran conflict.

Meloni warns Iran's plan to charge for passage through Strait of Hormuz could disrupt global trade

Italian Deputy Prime Minister Matteo ⁠Salvini said on Wednesday that Italy would not deploy naval vessels to patrol the area without authorization from the United Nations. 

Italian Prime Minister Giorgia Meloni speaks during a joint statement with President of Cyprus Nikos Christodoulides, at Chigi Palace, in Rome, Italy, February 26, 2026.

Trump, Starmer discuss reopening of Strait of Hormuz

The reopening of the Strait, which carries about a fifth of the world's oil consumption, is an important component of the US-Iran ceasefire deal.

The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026.