Oil

US imposes sanctions on Chinese 'teapot' refinery for buying Iranian oil

Last year, the US imposed sanctions on teapots Hebei Xinhai Chemical Group, Shandong Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical.

An aerial view shows a petrochemical plant in operation by the Yangtze River in Nanjing, in eastern China's Jiangsu province November 26, 2025.
US Treasury Secretary Scott Bessent looks on as he speaks to the media after two days of meetings with a Chinese delegation, in Paris, France March 16, 2026

US will not renew Iranian, Russian oil waivers, Treasury Secretary tells Associated Press

Ships and boats in the Strait of Hormuz, Musandam, Oman, April 22, 2026.

Iran uses fast boats to seize container ships in Strait of Hormuz, challenging US blockade

US forces patrol the Arabian Sea near M/V Touska on April 20, 2026, after firing upon the Iranian-flagged vessel that the U.S. accused of attempting to violate the U.S. naval blockade of Iranian ports near the Strait of Hormuz.

Ships seized by Iran taken to Bandar Abbas as countries check on sailors' wellbeing


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.

Trump says he expects to have 'honor of taking Cuba,' heightening tensions

The threatening statements come even as Cuba and the United States have opened talks aimed at improving their largely adverse relations.

US President Donald Trump takes a question as he speaks during a press conference at Trump National Doral Miami in Miami, Florida, March 9, 2026.