oil
52articles
Putin Says Russia Will Withhold Diesel Exports Until Sanctions End
President Vladimir Putin said Russia will not resume diesel sales to global markets until Western sanctions on Moscow are lifted, a threat landing as fuel markets face pressure.
China's 80% Grip on Iranian Oil Looms Over Trump-Xi White House Summit
Beijing controls roughly 80 percent of Iran's crude exports and appears to be signaling that leverage ahead of a high-stakes White House summit with President Trump on September 24.
Trump: Putin Has 'Lost Control' of Oil as Zelenskyy Arrives for UN Talks
President Trump said Russia has 'lost control' of oil revenues because of the Ukraine war as Zelenskyy flew to New York, where Trump plans to push an energy truce proposal.
Russian Strikes Kill Four as Zelensky Arrives in New York for UN
Russia launched overnight missile and drone attacks on Ukrainian industrial sites, killing at least four, as Zelensky arrived in New York for the UN General Assembly.
Iran Disputes Centcom Oil Claim, Issues New Hormuz Data Cable Rules
Iran's government rejected a US Central Command claim about tanker escorts in the Strait of Hormuz and approved new regulations on undersea data cables in the waterway.
Trump Says U.S. Could Stay in Iran and Keep the Oil
President Trump raised the prospect of an indefinite U.S. presence in Iran, saying Washington could retain Iranian oil revenues the way it has with Venezuela.
Saudi Arabia Shuts East-West Pipeline After Drone Attack From Iraq
Saudi Arabia has shut its East-West oil pipeline after drone strikes from southern Iraq damaged the facility. Baghdad closes the Iran border and launches an investigation.
Saudi Arabia Closes East-West Pipeline After Drone Strikes
Saudi Arabia confirmed it shut down the vital East-West oil pipeline Friday after drone attacks hit pumping stations in the Riyadh and Medina regions, threatening crude exports.
Hormuz Traffic Plunges to Single Digits Amid Middle East Escalation
Vessel tracking data cited by Reuters shows ship traffic through the Strait of Hormuz dropped to single digits Thursday, down sharply from a 10-day average of 15 vessels in both directions.
Houthis Strike Saudi Oil Sites, Wound 73 in Major Escalation
Iran-backed Houthi forces struck four Saudi cities overnight, setting oil facilities ablaze and wounding at least 73. Saudi Arabia has vowed to retaliate.
U.S. Oil Deal Displaces China and Russia From Venezuelan Fields
A U.S. oil company tied to a Venezuelan tycoon will replace Chinese and Russian operators at several Venezuelan oil fields, reshaping South American energy politics.
Tanker Struck by Projectile in Strait of Hormuz, UKMTO Confirms
UK Maritime Trade Operations confirmed a projectile struck a tanker in the Strait of Hormuz Thursday, the latest attack in an escalating shipping crisis at the world's most critical oil chokepoint.
Tanker Struck by Projectile in Strait of Hormuz, UKMTO Confirms
UK Maritime Trade Operations confirmed a tanker was struck by an unknown projectile in the Strait of Hormuz Thursday, the latest in a series of attacks on commercial shipping.
Trump Declares All Mines Cleared From Strait of Hormuz
President Trump announced Tuesday that U.S. forces have removed or detonated all mines from Hormuz international waters, warning Iran that re-mining will trigger immediate military strikes.
Ship Disabled by Attack in Strait of Hormuz
A vessel has been disabled by an attack in the Strait of Hormuz, AP News reports, as tanker traffic through the critical waterway hits its lowest daily count since May.
China Buys Most of Iran's Oil. Can US Sanctions Change That?
The US expanded its Iran sanctions this week, putting global buyers on notice. Experts say Washington is wary of pushing China too hard—leaving the biggest loophole open.
China's Iran Oil Purchases Face Scrutiny as US Readies Sanctions
Looming US sanctions on Iran have placed China's sustained crude oil purchases under international scrutiny, with Beijing vowing to protect its economic interests.
Iran Threatens Hormuz Blockade as US Sanctions Pressure Mounts
Tehran warns it will target neighboring states' interests if they join Washington's economic campaign, while granting Iraq a limited Hormuz exemption after Baghdad pledges neutrality.
China Won't Help Washington Squeeze Iran's Oil Revenues
Trump's maximum-pressure campaign against Iran depends on Beijing cutting off Tehran's primary crude market—but China, the top buyer, appears unwilling to cooperate.
Houthis Claim Strike on Saudi Aramco Facilities and Najran Airport
Yemen's Houthi forces say they struck Najran airport and Saudi Aramco oil facilities Thursday, Reuters reports, the latest escalation targeting Saudi energy infrastructure.
Oil Holds Steady as US-Iran Peace Talks Stall, Hormuz Shipping Slows
Crude prices marked time Monday as US-Iran negotiations reached an impasse and tanker traffic through the Strait of Hormuz thinned, keeping energy markets on edge.
ADNOC Says One of Its Tankers Attacked While Transiting Hormuz
Abu Dhabi National Oil Company confirmed one of its vessels came under attack in the Strait of Hormuz, Reuters reported. Saudi Arabia condemned the strike as oil pushed toward $100.
Adnoc Says Two of Its Vessels Attacked in Strait of Hormuz
UAE state oil firm Adnoc confirms two of its vessels were attacked Thursday evening while transiting the Strait of Hormuz. No injuries were reported.
Houthis Claim Drone Strike on Saudi Aramco Refinery in Jazan
Yemen's Houthi movement said Thursday it launched two drones at Saudi Aramco's refinery in the southern Jazan region, according to Reuters and the group's Saba news agency.
Aramco Halts Abqaiq Oil Operations After Houthi Attack
Saudi Aramco has suspended operations at the Abqaiq oil processing and stabilisation facility following a Houthi drone attack, Middle East Eye reported.
Iran Claims Control of Strait of Hormuz After Weekend Pause in Strikes
Iranian state media declared Monday that Tehran controls the Strait of Hormuz, the world's critical oil chokepoint, following a weekend lull in strikes.
Iran's IRGC Claims It Stopped Four Vessels at the Strait of Hormuz
Iran's Revolutionary Guard says its naval forces barred four ships from transiting Hormuz in 24 hours, adding maritime pressure to the first pause in U.S.-Iran strikes.
Brent Crude Tops $90 as US-Iran Strikes Intensify Over Hormuz
Brent crude crossed $90 a barrel on Sunday as US strikes on Iran entered a ninth consecutive night and CENTCOM's reimposed naval blockade tightened its grip on Strait of Hormuz shipping.
Iran IRGC Navy Declares Strait of Hormuz Closed
Iran's Islamic Revolutionary Guard Corps navy announced via state media that the Strait of Hormuz is closed until further notice, Reuters reports.
U.S. Demands Iran Affirm Strait of Hormuz Is Open Amid Strike Exchange
Washington is pressing Tehran to formally confirm the Strait of Hormuz is open to shipping as both sides continue trading strikes with no ceasefire in place.
Iran Oil Backs Up at Sea as Chinese Refiners Shift to Gulf Rivals
Iran's sanctioned crude is piling up at sea as China's independent refiners pivot to rival Gulf suppliers, traders say, squeezing Tehran's oil revenues.
Russian Gasoline Output Falls to 65% of Demand, Sources Tell Reuters
Ukraine's sustained strike campaign against Russian oil infrastructure has cut domestic gasoline production to roughly 65% of demand, Reuters reported, citing sources.
Kyiv Hits Russian Ships Near Crimea as IEA Cuts Oil Output Forecast
Ukraine struck Russian ships near Crimea and the IEA slashed its Russian oil output forecast, as Kyiv's deep-strike campaign targets fuel infrastructure across Siberia.
Past the Friday Window: Hormuz Quiet, Monday Tape in Focus
The IRGC's signaled Friday reopening for the Strait of Hormuz came and went without confirmation, denial, or incident. Saturday's silence sets the Monday open.
Trump Rejects Leaked Iran Terms as Tehran Asserts Hormuz Dominance
President Trump called the leaked draft memorandum "dishonorable" and "totally false" as Iran's army chief claimed Hormuz dominance and Vance ruled out cash. Oil fell anyway.
Oil Jumps as Hormuz Spillover Widens to Kuwait and an Oman Tanker Fire
Crude futures jumped overnight as the US-Iran cycle widened beyond Hormuz, with Kuwait drawn in, an Oman tanker on fire, and Kazakh and Chinese buyers scrambling for physical barrels.
Oil Stuck Near $100 Says the Market Is Pricing Hormuz, Not a War Scare
Crude holding near $100 a barrel while tactical hostilities ease tells you the premium is structural — Hormuz, insurance, dark tankers — and India is already paying for it.
Hormuz Tanker Traffic Down 90% as Dark Voyages Surge
Tanker movement through the Strait of Hormuz has collapsed roughly 90 to 95 percent versus pre-war levels, and the residual flow is increasingly going dark, leaving traders and governments without real-time visibility on Gulf crude.
Russia Eyes $13.6B Windfall From Hormuz Oil Spike
Moscow expects to pocket $13.6 billion from elevated crude prices tied to the Strait of Hormuz crisis, as Houthi pressure and US diplomacy keep the region on edge.
Tasnim leak: Hormuz transit stays under Iran's authority in proposed US deal
IRGC-linked Tasnim says the framework being negotiated leaves the Strait of Hormuz under Iranian authority — a major concession surfacing hours before Trump's expected final determination.
IRGC Claims Retaliatory Strike on US Air Base After Bandar Abbas Attack
Iran's Revolutionary Guard says it struck a US air base at 4:50 AM local time in response to Washington's overnight strikes near Bandar Abbas, with oil up over 2% and Hormuz transits under fire.
Goldman Alarm Meets an $81 Forward Floor as Hormuz Cycle Hardens
Goldman warns global oil stocks are approaching an eight-year low while the options strip holds Brent above $81 into mid-2027. Bank research and market pricing have converged.
Japan, South Korea Deepen Crude Pact as Hormuz Risk Weighs on Asia
Tokyo and Seoul are coordinating Gulf crude purchases and emergency stocks even as oil prices ease on the Trump strike pause, signaling Asian refiners are still pricing the next Hormuz disruption.
Xi Pledges No Arms to Iran, Backs Hormuz Opening in Trump Summit
Trump says Xi Jinping promised not to arm Iran and offered to help reopen the Strait of Hormuz, with the White House confirming a first joint US-China position on the blockade.
Iran Retains 70% of Missile Stockpile, ISW Warns of Rebuilt War Capacity
ISW assessed that Iran has restored access to 30 of 33 Hormuz-region missile sites and retains roughly 70% of its pre-war stockpile, as IRGC launches major exercises and rejects the US peace plan as surrender.
Trump Weighs Resuming Combat as Iran Ceasefire Hangs by Thread
Trump is more seriously considering resuming combat operations after Iran's ceasefire counterproposal — demanding reparations and Hormuz sovereignty — was rejected as garbage.
US Sanctions 12 Entities Routing Iranian Oil to China
Treasury designates 12 front companies across Hong Kong, UAE, and Oman as Bessent links Beijing's energy purchases to Iranian terrorism financing.
Iran Launches Hormuz Toll Agency, Charges $2M Per Ship
Iran's new Persian Gulf Strait Authority demands up to $2M per vessel to transit Hormuz, forcing shipping operators into a legal collision with U.S. secondary sanctions.
Oil Crashes 7.8%, S&P 500 Hits Record as Iran Deal Hopes Build
Brent crude tumbled to $101.31 and U.S. stocks ripped to record highs Tuesday as Iran's IRGC Navy reopened Hormuz to safe passage and U.S.-Iran memorandum talks advanced.
Iran Strikes UAE for First Time Since Ceasefire, Fujairah Refinery Burns
Iran attacked the UAE on May 4 for the first time since the April 8 ceasefire, igniting a fire at the Fujairah oil export hub and striking an ADNOC tanker — threatening the last major bypass route for Gulf crude.
Brent crosses $126 intraday as Trump rejects Iran's Hormuz proposal
Brent briefly traded above $126 Thursday before settling near $120 after the president rejected Tehran's offer to lift the Hormuz blockade in exchange for delayed nuclear talks.
What an Iran flare-up actually does to gas prices, the wallet, and the polling booth
Crude oil moves 10% on the headline. The pump moves 4%. Why the spread, why it lags, and how voters respond to gas-price spikes during a foreign-policy crisis. The honest answer is messier than either party suggests.