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Oil

Latest news about the key commodity driving global economies, markets and energy policies

An oil tanker anchored in the Strait of Hormuz as the key channel remains virtually closed. Getty Images

Oil surges above $85 per barrel as Hormuz deal remains elusive

EnergyAugust 10, 2026

Youssef Qablawi, left, of the Syrian Petroleum Company, signs deal in Washington with Bassem Nasr, head of IRaq's Basra Oil Company, to revive Kirkuk-Baniyas oil pipeline. Photo: SANA

How regional turmoil and US pressure have drawn Iraq and Syria closer together

MENAAugust 07, 2026

A Yemeni naval ship patrols the Red Sea. The Houthi rebels have announced a 'blockade' on Saudi exports in the sea. AFP

Volatile oil prices end week lower amid war uncertainty and Houthi Red Sea attacks

EnergyAugust 07, 2026

Adnoc L&S has rapidly boosted its fleet capacity in recent years. Photo: Adnoc L&S

Adnoc L&S buys 11 new vessels for $1.3bn to boost oil and gas exports

EnergyAugust 07, 2026

Ships anchored in the Strait of Hormuz, off Khasab on Oman’s northern Musandam Peninsula. AFP

Proposed deal to reopen Strait of Hormuz risks fate of failed June truce

EnergyAugust 06, 2026

A commercial vessel off Yemen's Hanish Island in the Red Sea. Tensions remain high in the waterway as Houthi rebels threaten to attack Saudi-linked ships. AFP

Brent oil back above $80 after Houthi attack on Saudi tanker

EnergyAugust 05, 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

Vessels in the Strait of Hormuz. Iran and Oman are in talks over how to handle the waterway. Reuters

Brent falls below $80 amid conflicting claims on US-Iran talks

EnergyAugust 04, 2026

A worker checks the valve gears of pipes linked to oil tanks at the Turkish port of Ceyhan. Reuters

01:55

Iraq struggles with July salary payments as oil revenue fails to cover budget

MENAAugust 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

Saudi Arabia's Ras Tanura oil refinery and oil terminal. The kingdom leaned on its East-West pipeline to reroute crude to Red Sea terminals. Reuters

Aramco plans new export routes as Houthi Red Sea blockade squeezes Saudi oil flows

EnergyAugust 04, 2026

A crude oil futures chart. Higher oil and gas prices are bad news for businesses and households but a boon for upstream energy producers. Bloomberg

The Iran war is fuelling the next oil, gold and silver rally

MarketsAugust 04, 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

Turkey's Mediterranean port of Ceyhan. Reuters

Iraq to sign extension of pipeline deal with Turkey

EnergyAugust 01, 2026

Ships wait near Bandar Abbas in southern Iran amid disruption to maritime traffic. Reuters

How many ships are transiting through Hormuz and Bab Al Mandeb?

EnergyAugust 01, 2026

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