Oil

Iraq approves three month mechanism to export crude via local, international firms

Iraq is seeking to diversify its oil export channels and maintain flexibility in marketing its crude amid the Iran war and the closure of the Strait of Hormuz.

A worker checks an oil pipeline at Nahr Bin Umar oil field, north of Basra, Iraq March 22, 2022.
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 18, 2026.

Hormuz crossings rise slightly from weekend, remain in single digits, data shows

This image shows the Strait of Hormuz, between the Persian Gulf and the Gulf of Oman. The Strait of Hormuz runs between Iran and United Arab Emirates, 2004.

Shipping slows through Strait of Hormuz after tanker attacks, data shows

An Oil tanker named Yu fu Zuo unload imported crude oil at the crude oil terminal of in Qingdao port, in China's eastern Shandong province on July 16, 2026.

China-based Hengli Group main importer of sanctioned Iranian crude oil, analysts say - report


US sanctions Iranian foreign currency exchange, international front companies

“Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes,” said Scott Bessent, Secretary of the Treasury.

A general view of the Treasury Building on day two of a partial government shutdown in Washington, DC, US, February 1, 2026.

Islamic regime launches Persian Gulf Strait Authority, ships reportedly start paying tolls

Ships transiting the Strait of Hormuz now face tolls and strict Iranian oversight as Tehran launches the Persian Gulf Strait Authority, with JPMorgan forecasting 11‑figure annual revenue from tolls.

Vessels in the Strait of Hormuz near Bandar Abbas, Iran, May 4, 2026.

Abu Dhabi sees leaving OPEC as a matter of national interest - opinion

The future of Emirati relations appears less tied to traditional binaries of friend and foe and more to the logic of the useful partner, the workable path.

  The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016.

Kharg Island and the new energy war over Iran’s collapsing oil exports - opinion

Iran’s Kharg Island shows the hidden cost of sanctions: empty oil terminals, environmental damage, and mounting pressure.

A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026

Trump says Xi agrees Iran must open Hormuz, China calls war unjustified

Following his Beijing summit, Trump says Xi supports reopening the Strait of Hormuz, while China calls the Iran war a conflict that “should never have happened.”

US President Donald Trump and China's President Xi Jinping arrive at state dinner, Great Hall of the People, Beijing, 2017.

Chinese supertanker breaks through US-Iran war blockade in Hormuz

The Chinese supertanker Yuan Hua Hu crosses the Strait of Hormuz after months of delay, carrying nearly 2 million barrels of Iraqi crude, as US-Iran tensions continue to shape the Gulf.

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

In double trouble: Iran’s oil crisis – opinion

Given that the Islamic Republic’s lifeblood – oil – is being squeezed, it should learn from history that collapse always begins with a warning sign such as this one

A Satellite image shows a likely oil spill covering dozens of square kilometers near Iran’s Kharg Island, earlier this month.

Syrian President Ahmed al-Sharaa announces first cabinet reshuffle since Assad ouster - report

No official reason was given for the changes.

Syrian President Ahmed al-Sharaa gestures outside 10 Downing Street, after meeting with Britain's Prime Minister Keir Starmer, in London, Britain March 31, 2026.

Suspected oil spill seen on satellite images near Iran's Kharg Island export hub, Iran denies

The cause of the oil spill, which appears to cover the waters west of the 8-kilometer island, is still unknown.

A satellite image shows likely oil spill covering dozens of square kilometers near Iran's Kharg Island, May 6, 2026.

US targets Iraq oil official and militias with sanctions for aiding Iran

The U.S. imposed sanctions on Thursday on Iraq's deputy oil minister and militias over support for Iran, the Treasury Department said.

Drone view of oil tanker HELGA berthed at one of Iraq's southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026.