Oil and gas

AHMAD AL-RUBAYE / AFP via Getty Images

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

As Iran's parliament speaker holds talks in Baghdad, Iraq has asked Tehran for special consideration for its oil exports.

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Turkey looks to expand Syria energy footprint into oil, gas

Turkish Energy Minister Alparslan Bayraktar said state oil giant TPAO and private companies are ready to explore for oil and gas onshore and offshore in Syria.

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Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Brent crude climbed near $92 a barrel on Tuesday, reaching its highest level this month amid new escalatory developments.

United Arab Emirates

Ships are anchored in the Strait of Hormuz on Aug. 10, 2026, off the coast of Bandar Abbas, Iran.

Iran says understanding reached with Oman over new Hormuz route map

Iranian Foreign Ministry spokesperson Esmail Baghaei told reporters in Tehran on Monday that “an understanding has been reached regarding the map of the transit route.”

Latest News

Oil spills off Oman, Iran's Qeshm Island reap environmental havoc amid war

A photograph obtained from the Iranian Students’ News Agency shows an oil slick along the southern coast of Qeshm Island, Iran, August 13, 2026.

Iran’s Hormuz authority denies Trump claims of control over strait: What to know

Children swimming in the Strait of Hormuz

Analysis

Libya’s oil revival faces new test as violence returns amid US peace push

Libyan firefighting teams attempt to extinguish a fire at the Zawiya refinery, the second-largest oil refinery in Libya, with a refining capacity of 120,000 barrels per day, after a tank belonging to the state-owned Libyan Brega Oil Company was attacked by unknown perpetrators, in Zawiya, Libya, on Aug. 11, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Hormuz traffic sinks to one-week low as ships attacked, talks stagnate

port attack

Minister of Foreign Affairs Hakan Fidan met with Abdul Hamid Dbeibah, Prime Minister of the Government of National Unity of Libya, in Tripoli on Aug. 11, 2026.

Turkey’s Fidan heads to Libya as US-backed unification push gathers pace

The Turkish foreign minister will hold talks in both Tripoli and Benghazi as Ankara seeks to preserve its military, maritime, energy and commercial interests while Washington pushes Libya’s rival camps toward a power-sharing arrangement.

The Al-Riqqa oil tanker (L) and Al-Yarmouk oil tankers sail in the Arabian Gulf waters, off the coast of Kuwait City on June 27, 2026.

Kuwait's LNG imports climb to highest level since start of Iran war

The country's domestic gas production has fallen drastically since the beginning of the US-Israel-Iran war in February.

Building construction at the Red Sea in Egypt.

Explainer

UAE-Egypt ties keep growing as Cairo navigates shifting Gulf landscape

An Emirati investor could soon strike a $2.7 billion deal to develop another tourism project on Egypt's North Coast, the latest in a string of UAE-linked pacts that have continued advancing despite turmoil from the US-Iran war.

ABDULLAH DOMA/AFP via Getty Images

Explainer

Egypt, Libya begin studying $1B oil pipeline: What to know

The two countries are nearing the launch of a joint project to build a pipeline linking the Egyptian city of Alexandria with the Libyan city of Tobruk, Asharq Bloomberg reported.

Khaled ZIAD / AFP via Getty Images

Explainer

Iran-Oman deal spurs Hormuz hopes as Red Sea threats evolve

Iran has signaled that an agreement was reached with Oman establishing a Hormuz shipping route even as Houthi attacks in the Red Sea expand.

Iranian Foreign Minister Abbas Araghchi (L), Iranian parliament speaker Mohammad Bagher Ghalibaf (2nd L) and Omani Foreign Minister Badr bin Hamad Al Busaidi (R) attend a meeting in Muscat, Oman, on June 22, 2026.

Explainer

Iran-Oman Hormuz route talks near 'completion': What to know

The new framework would give Iran a greater role in managing one of the world’s most strategically important maritime choke points.

Fayez Nureldine / AFP via Getty Images

Saudi Arabia's economy shrinks by 4.8% amid Iran war: What to know

The kingdom saw a 24.7% year-on-year decline in its oil sector for the April 1 to June 30 period due to the closure of the Strait of Hormuz.

A trader works on the floor of the New York Stock Exchange on July 24, 2026, in New York.

Oil jumps 8% as US-Iran war pressures Saudi Arabia, explosions hit Egypt

The price of benchmark Brent crude climbed past $90 per barrel on Wednesday after a renewed round of US-Iran hostilities shattered a days-long lull in fighting and the Houthis targeted Saudi oil exports.

A commercial vessel passes through an international shipping lane off Yemen's Hanish Island in the Red Sea on July 27, 2026.

Explainer

Tankers keep sailing Red Sea despite Houthi threats as Saudi oil lifeline faces strains

Roughly a dozen oil tankers were sailing in the vicinity of the Bab el-Mandeb Strait as of Tuesday evening, following an uptick in traffic the day before as shippers bet on new US-Iran diplomacy.

Sailors from the navy of Yemen's Aden-based internationally recognized government stand at machine-gun positions aboard a vessel patrolling a shipping lane off Hanish Island in the Red Sea on July 27, 2026.

Aramco turns to Egypt as Houthis disrupt Saudi oil exports: What to know

Riyadh is now looking to use the Mediterranean route more extensively after the Houthis on July 20 threatened to target oil exports passing through the Bab el-Mandeb Strait.

Iraqi Prime Minister Ali al-Zaidi speaks during a meeting with US Secretary of Defense Pete Hegseth (not pictured) at the Pentagon on July 14, 2026 in Arlington, Virginia.

Zaidi to meet Erdogan as Turkey-Iraq ties take off, Kurds feel sidelined

The Iraqi prime minister's visits to Ankara and Riyadh underscore Baghdad's push to deepen regional ties as Turkey seeks closer cooperation on energy and security.

diamonds

Explainer

Qatar launches diamond exchange as Hormuz crisis chokes LNG exports

Qatar's new diamond exchange is an effort to diversify from the country's main exports, LNG and petroleum products, which have been severely cut as a result of the Iran war and the Strait of Hormuz crisis.