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Oil

Latest news about the key commodity driving global economies, markets and energy policies

Ships anchored in the Strait of Hormuz as seen from Bandar Abbas, Iran. The key waterway remains a flashpoint between Washington and Tehran. Getty Images

Oil posts sharp weekly gain as US threatens Iran with 'indefinite' blockade and financial pain

EnergyAugust 14, 2026

Firefighting teams attempt to extinguish a blaze at the Zawiya refinery. AFP

Drone strikes on Zawiya expose weak link in Libya’s energy security

EnergyAugust 13, 2026

Damage to the cargo ship Tihamah near Murad, Yemen, after a deadly Houthi attack in the Bab Al Mandeb strait. AFP

Iran war drives IEA to deepest cut in 2026 oil supply forecast

EnergyAugust 12, 2026

Iranian Foreign Minister Abbas Araghchi, right, shakes hands with Pakistan's Interior Minister Mohsin Naqvi in Tehran. AFP

Pakistan in final truce push as US-Iran deadline looms

GulfAugust 12, 2026

Ships in the Strait of Hormuz, off the port city of Bandar Abbas in southern Iran, on Monday. AFP

Strait of Hormuz traffic drops to seven ships as US-Iran deal hopes fade

EnergyAugust 11, 2026

Damage on the Egyptian-owned Tihamah cargo vessel after the deadly Houthi attack near Murad, Yemen on August 11, 2026. Reuters

00:28

Yemen says six killed in Houthi attack on vessel in Bab Al Mandeb

MENAAugust 11, 2026

Firefighters work to control the blaze at an oil refinery in Zawiya, Libya, after drone attacks on August 10. Reuters

Car bomb kills Haftar intelligence chief as drones hit Libya oil facilities

MENAAugust 11, 2026

An oil tanker anchored in the Strait of Hormuz as the key channel remains virtually closed. Getty Images

Oil surges above $85 per barrel as Hormuz deal remains elusive

EnergyAugust 10, 2026

Youssef Qablawi, left, of the Syrian Petroleum Company, signs deal in Washington with Bassem Nasr, head of IRaq's Basra Oil Company, to revive Kirkuk-Baniyas oil pipeline. Photo: SANA

How regional turmoil and US pressure have drawn Iraq and Syria closer together

MENAAugust 07, 2026

A Yemeni naval ship patrols the Red Sea. The Houthi rebels have announced a 'blockade' on Saudi exports in the sea. AFP

Volatile oil prices end week lower amid war uncertainty and Houthi Red Sea attacks

EnergyAugust 07, 2026

Adnoc L&S has rapidly boosted its fleet capacity in recent years. Photo: Adnoc L&S

Adnoc L&S buys 11 new vessels for $1.3bn to boost oil and gas exports

EnergyAugust 07, 2026

Ships anchored in the Strait of Hormuz, off Khasab on Oman’s northern Musandam Peninsula. AFP

Proposed deal to reopen Strait of Hormuz risks fate of failed June truce

EnergyAugust 06, 2026

A commercial vessel off Yemen's Hanish Island in the Red Sea. Tensions remain high in the waterway as Houthi rebels threaten to attack Saudi-linked ships. AFP

Brent oil back above $80 after Houthi attack on Saudi tanker

EnergyAugust 05, 2026

Customers refuel vehicles at a petrol station in Buckinghamshire, northwest of London. Petrol prices in the UK have reached their highest level of 2026, driven by the war in Iran. EPA

Big Oil quarterly profits surge as Iran war redraws winners and losers

BusinessAugust 04, 2026

Vessels in the Strait of Hormuz. Iran and Oman are in talks over how to handle the waterway. Reuters

Brent falls below $80 amid conflicting claims on US-Iran talks

EnergyAugust 04, 2026

A worker checks the valve gears of pipes linked to oil tanks at the Turkish port of Ceyhan. Reuters

01:55

Iraq struggles with July salary payments as oil revenue fails to cover budget

MENAAugust 04, 2026

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