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Oil price

Latest news and analysis on the impact of the price of Brent and West Texas Intermediate

Brent, the benchmark for two thirds of the world’s oil, was up 2.6 per cent to $90 a barrel at 1.16pm UAE time. EPA

Oil prices touch $90 a barrel as hopes weaken for US-Iran deal

EnergyAugust 11, 2026
Brent, the benchmark for two-thirds of the world's oil, was at $80.83 a barrel at 6.24pm UAE time on Thursday. EPA

Oil swings back above $80 and gold rises to seven-week high on Hormuz hopes

MarketsAugust 06, 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
A BP petrol station in London. The oil company's second-quarter net income has beaten analyst forecasts. EPA

Iran war oil price surge doubles BP's quarterly profit to more than $5bn

EnergyAugust 04, 2026
US President Donald Trump said oil majors are 'making too much money based on a shortage'. Reuters

Trump lashes out at Chevron and Exxon's soaring profits during Iran war

EnergyAugust 03, 2026
While Iran continues to hit commercial vessels to maintain control of the strait, the US is enforcing its blockade of Iranian shipping and ports. Reuters

Oil prices fall on potential US-Iran deal to open Strait of Hormuz

EnergyAugust 03, 2026
Opec is set to collectively add 188,000 barrels per day next month. Bloomberg

Opec+ agrees output rise in September amid uneasy pause in Iran war

EnergyAugust 02, 2026
Tankers sail in the Gulf of Oman. Iranian and Houthi attacks on ships on key regional maritime routes have risen in recent weeks. AFP

Oil jumps 7% after Iran strikes US forces and Saudi Arabia hits Iraq

EnergyJuly 29, 2026
Fishing boats in the Bab Al Mandeb strait off Taiz province, southern Yemen. Tension has spilled over into the key waterway, as the Houthis declared a 'maritime embargo' against Saudi Arabia. AFP

Brent oil slides more than 6% as US-Iran talks gain steam

EnergyJuly 28, 2026
Iranian-made Zolfaghar missiles at Azadi Square in Tehran on July 24, even as the US and Iran have stopped the latest round of strikes. AFP
Play02:20

Oil plunges below $90 on pause in US-Iran hostilities despite Houthi threats

EnergyJuly 27, 2026
Fuel prices are displayed on the digital board at a petrol station in London, as Brent crude hit $100 per barrel for the first time since May. Getty Images

Oil above $100 per barrel reignites global inflation fears

EnergyJuly 24, 2026
An oil refinery in Erbil, Iraq. Getty Images

The deepest Gulf oil shocks in history

MENAJuly 24, 2026
The National

Shadi's take on disruption to the global economy

CartoonJuly 24, 2026
Houthi military spokesman Brig Gen Yahya Saree on a TV screen in Sanaa, Yemen. EPA

Saudi oil loadings drop by 36% as Houthi threats disrupt Bab Al Mandeb passage

EnergyJuly 20, 2026
The USS Donald Cook transits the Arabian Sea accompanied by an MH-60S Sea Hawk as American forces enforce a naval blockade against Iran. Photo: Centcom

Brent hits $90 as widening Middle East conflict rattles oil markets

EnergyJuly 20, 2026
Iran declared the Strait of Hormuz closed this week after its fragile truce with the US fell apart. Getty Images

Oil prices set to trade around $80 range, with Hormuz toll 'not a factor'

EnergyJuly 14, 2026
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