Oil

Philippines allows dirtier Euro-II fuel use to ease supply crunch amid Middle East crisis

"The measure is intended to help maintain a continuous, adequate and accessible fuel supply, while allowing limited flexibility for sectors that may be affected," the DOE said.

A sharp spike in oil prices rattled equities and revived fears of a renewed global inflation wave.
 A map showing the Strait of Hormuz and Iran is seen in this illustration taken June 22, 2025.

It’s the oil prices, stupid: The West’s principles collapse when prices rise - opinion

Fire rises from the Bazan power plant in the northern Israeli city of Haifa, June 15, 2025.

Expert warns Haifa refinery is ‘time bomb’ despite limited damage in Iranian strike

The silhouette of an oil and chemical tanker off the Gulf of Fos-sur-Mer at sunset, in Martigues, France, March 20, 2026.

US issues 30-day sanctions waiver for sale of Iranian oil at sea


US airlines project confidence as fuel costs surge in wake of US-Israeli war on Iran - analysis

For the biggest US carriers, which do not hedge against oil price rises, the shock is showing up mainly in the fuel bill, with jet fuel prices nearly doubling since the conflict began.

A SOUTHWEST Airlines Boeing 737 airplane departs from Harry Reid International Airport as a Delta Airlines aircraft taxis on March 11, 2026 in Las Vegas, Nevada.

Middle Israel: Iran's multilevel blockade of the Straight of Hormuz is destined to fail - opinion

Iran’s blockade of the Strait of Hormuz has three levels: the political, the military, and the economic. The political part is the strongest, and the economic part is the weakest.

INDIAN VESSEL ‘Nanda Devi’ carrying liquefied petroleum gas arrives at Vadinar Port in the Jamnagar district of Gujarat state earlier this week, after Iran allowed it to pass through the Strait of Hormuz, a key energy corridor that Iran has selectively closed.

US weighs military reinforcements as Iran war enters possible new phase

Trump is considering deploying additional troops to the Middle East, a move that would reinforce operations in the region as the US weighs its options.

Members of a ground crew work to load cruise missiles into a U.S. Air Force Boeing B-52 Stratofortress at RAF Fairford airbase, used by United States Air Force (USAF) personnel, amid the U.S.–Israeli conflict with Iran, in Fairford, Gloucestershire, Britain, March 14, 2026.

Iran's IRGC Navy chief threatens retaliatory strikes on oil facilities across Gulf

Later, after Iran threatened Gulf states with retaliatory strikes, Qatar and Saudi Arabia reportedly intercepted multiple incoming missile barrages targeting oil and industrial sites.

Plumes of smoke rise over the oil depot tanks hit by joint Israel-U.S. over night in a station north west of the capital on March 8, 2026 in Tehran, Iran; illustrative.

Iraq turns to Kurdistan pipeline as Iran war chokes oil exports and economy - analysis

Baghdad has been seeking a deal to move oil through the Kurdistan Region to Turkey, but the Kurds want Iraq to lift the trade embargo it has imposed on the territory.

A drone view shows oil tankers loading crude oil at the Basra Oil Terminal in Iraqi territorial waters, off the coast of Basra, Iraq, August 5, 2025. REUTERS/Mohammed Aty

WATCH: Iranian gas, oil infrastructure at Iran’s South Pars and Asaluyeh hit in Israeli air strike

The Islamic Revolutionary Guard Corps-affiliated Tasnim News Agency corroborated that petrochemical facilities in South Pars were targeted, stating that the extent of damage was not yet clear.

Cars drive down a highway as smoke billows after overnight airstrikes on oil depots on March 8, 2026 in Tehran, Iran.

Chinese Startup claims it can synthesize oil from air and water

The company, co-founded in 2024 by a former Tesla vice-president, frames its approach as Direct Air Capture.

Top view of oil barrels being moved by a forklift.

In striking Kharg Island, Trump struck the choke point of Iran’s oil economy - opinion

Kharg Island, a tiny Persian Gulf outpost, controls nearly all of Iran’s oil exports, making it the regime’s key economic vulnerability.

A satellite image shows damage on Kharg Island, Iran, after US strikes, amid the U.S.-Israeli conflict with Iran, March 14, 2026.

Iran can't beat US military, so it's targeting your wallet instead - analysis

Iran lost the first round badly. Its nuclear sites are rubble. Its air defenses are gone. The Revolutionary Guards have taken casualties they won't acknowledge for months.

Smoke plumes rise following missile strikes in Tehran on March 1, 2026.

Gulf sources warn incomplete US strikes could leave Iran a lasting threat to oil routes - analysis

"There is a wide feeling across the Gulf that Iran has crossed every red line with every Gulf country,” said Abdulaziz Sager, chairman of the Saudi-based Gulf Research Center.

Iran and Israel flags on Middle east geopolitical map.