Oil

EU focuses on electricity tax cuts, gas storage amid Iran war energy crisis

The EU plans to cut electricity taxes and coordinate gas storage efforts to mitigate the energy fallout from the Iran conflict, without major market interventions.

European Union flags flutter outside the European Commission headquarters in Brussels, Belgium Februrary 26, 2026.
Fuel price display at a Total Energies service station illustrating rising energy prices amid geopolitical tensions in the Middle East in Propriano South Corsica France on April 20, 2026.

EU warns of summer fuel shortages as Iran war drives global energy crisis

Jordan's Foreign Minister Ayman Safadi chairs an extraordinary meeting of Arab League foreign ministers day before the 51st Session of the Council of Foreign Ministers of the Organisation of Islamic Cooperation (OIC), in Istanbul, Turkey, June 20, 2025

After Iran war, attack on Gulf States, will the GCC withdraw from Arab League - analysis

An illustration of oil barrels, pipelines, and drills, over the backdrop of US and Iranian flags.

Oil surges, stocks fall as US-Iran tensions threaten Strait of Hormuz shipping flows driving risk


Iranian regime preventing technical staff from evacuating Kharg Island  amid US strike threats

Fires are still burning in parts of the island, with regime authorities insisting that operations at Iran's most critical oil export terminal must continue without interruption.

A picture taken on March 12, 2017, shows a view of an oil facility in the Khark Island, on the shore of the Gulf.

Drone strike hits Erbil refinery halting operations, Riyadh intercepts Iranian missiles, drones

A drone strike caused a fire at an Iraqi refinery, while Saudi Arabia intercepted Iranian missiles and drones targeting key regions.

A gas flare burns at the Lanaz refinery after it was targeted by a drone strike, in Erbil, Iraq, March 14, 2026.

US may hit Iran's Kharg Island again, Trump tells NBC News

Trump suggests more strikes on Iran’s Kharg Island oil hub, calls Khamenei’s survival uncertain, and dismisses current deal terms as insufficient.

US President Donald Trump gestures as he arrives at Palm Beach International Airport on March 13, 2026 in West Palm Beach, Florida; illustrative.

US, Israel's chess match with Iran is entering its geopolitical endgame - opinion

How can the US deliver a decisive blow that weakens the regime while accelerating the possibility of internal change?

Mojtaba Khamenei, son of former Iranian supreme leader Ayatollah Ali Khamenei.

Lured by profits, some shipowners brave mines and missiles to sneak oil past Iran

At least 10 ships operated by Greek companies, and at least two Chinese-operated vessels, have sailed through the strait between Iran and Oman since US and Israeli strikes began on February 28.

Tankers sail in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the US-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026.

Iran threatens region's oil facilities if Israel, US target its energy infrastructure - report

Iran's UN Ambassador also said that Tehran would not close the Strait of Hormuz, adding that it was Iran's right to preserve the security of the key shipping route.

People walk as smoke rises in the background after a reported strike on Shahran fuel tanks, in Tehran, Iran, March 8, 2026

Iranian embassy in South Africa labels drone strike on Oman’s oil facilities 'false flag operation'

Despite the claim, the embassy did not say whose operation it was.

Oil refinery of Petroleum Development Oman (PDO), amid the US-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026.

Tehran appears to prepare for long war despite heavy early losses - analysis

Gulf states are not ready to join the war, but they have gone to the UN to get condemnation for Iran’s actions.

A protester throws a stone near a fire as other demonstrators gather while blocking a street in Shiraz, Iran, on January 10, 2026.

Trump says he's 'not worried' about an Iranian attack on US soil

US President Donald Trump said that he was not worried about the possibility of Iranian-backed attacks on US soil during a briefing with reporters at the White House.

US President Donald Trump gestures at Joint Base Andrews in Maryland, US, March 11, 2026.

Global powers release oil reserves as Iran war threatens Strait of Hormuz supply

IEA member states approved the release of 400 million barrels from strategic oil reserves to mitigate the impact of a potential Iranian blockade of the Strait of Hormuz.

The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026.