Oil and gas

A general view shows the Awad oil field in the eastern Qamishli countryside in northeastern Syria, on Feb. 9, 2026.

Explainer

Oil’s slide wavers as Trump warns US-Iran deal ‘not final’

Brent crude prices briefly jumped back above $80 per barrel on Wednesday as traders digested conflicting signals about efforts to end the war and reopen Hormuz.

Amirhossein KHORGOOEI / ISNA / AFP via Getty Images

3 Iranian tankers with 4.8M barrels of oil pass US blockade: What to know

At least three US-sanctioned Iranian-flagged tankers have exited the Gulf of Oman as the Trump administration eyes Tehran's moves ahead of sanctions waivers expected to begin Friday.

Jared Szuba

In Washington, DC, reporting on defense, national security, military

A general view shows the Awad oil field in the eastern Qamishli countryside in northeastern Syria, on February 9, 2026. (Photo by Amjad Kurdo / Middle East Images / AFP via Getty Images)

Exclusive

US firm HKN Energy takes over 7 oil fields from Syria's Kurds

HKN Energy has begun operating seven oil fields under a 25-year agreement with Damascus, marking the first major production-sharing deal between Syria's new government and an international oil company.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Scott Olson/Getty Images

Explainer

US strategic oil stockpile nears four-decade low as Iran war drags on

The US Strategic Petroleum Reserve fell to 349.2 million barrels amid the global energy shock caused by the war in Iran.

Latest News

Syria says Iraqi oil shipments surge as Damascus courts foreign energy investment

A long convoys of Iraqi diesel-laden tanker trucks line up along the highway Tartus-Baniyas highway as they wait to unload their cargo at the Baniyas port refinery on the Mediterranean Sea, on April 15, 2026.

Explainer

Venezuela’s Delcy Rodriguez meets Erdogan in surprise Turkey visit: What to know

https://www.al-monitor.com/originals/2026/06/will-pashinyans-victory-armenia-be-enough-unlock-peace-turkey-azerbaijan

Algeria begins work on Trans-Saharan gas pipeline to Europe

BOUREIMA HAMA/AFP via Getty Images

Oman denies disruption at key oil hub after reported drone attack

AFP via Getty Images

Commercial vessels are pictured offshore in Dubai on March 11, 2026. AFP via Getty Images

Oil jumps above $100 as energy crisis called worst in history: What to know

The latest spike is the second time in a week that oil prices have climbed above $100 a barrel.

People sit in a cafe outside the Apple Store in Dubai on May 8, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Citi, HSBC order Gulf evacuations after Iran threatens US tech, banks

The United Arab Emirates is home to Dubai Internet City, which hosts more than 4,000 businesses, including US tech giants such as Google, Microsoft, Oracle, Dell, Amazon, Mastercard and Visa. Several of these companies also have offices in Abu Dhabi.

Sakis Mitrolidis / AFP via Getty Images

Group of 32 states to release 400M barrels of oil reserves: What to know

The move would mark the agency's largest ever release of oil reserves to stabilize the global market.

In Bristol, reporting on regional business, climate change, AI, tech

Gavriil Grigorov / AFP via Getty Images

Russia denied sharing intelligence with Iran in Trump call, Witkoff says

Russia denied US reports that it may have provided Tehran with targeting information on American assets in the region.

The sun sets behind burning gas flares at the Dora Oil Refinery Complex in Baghdad on Nov. 24, 2025.

Exclusive

Baghdad, US turn to Iraqi Kurds for oil exports as Iran war hits supplies

Baghdad wants Kurdish pipelines to move up to 200,000 barrels per day to global markets, but Erbil is demanding relief from a dollar embargo and greater autonomy over trade.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Smoke and flames rise at the site of airstrikes on an oil depot in Tehran on March 7, 2026.

Analysis

Oil crisis stokes inflation risks for Mideast as Iran war exposes importers

With crude oil briefly nearing $120 per barrel on Monday before giving up gains, the conflict is poised to reignite inflationary pressures around the world, including for vulnerable economies such as Egypt and Turkey.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

In this photo illustration, a smartphone displays the crude oil price in USD after markets in the UK opened on March 9, 2026, in London, England.

G7 readies strategic reserves after oil nears $120 amid Iran war

It is the first time oil prices have passed $100 in nearly four years as the key producers in the energy-rich Middle East curb output amid the conflict.

Yasin AKGUL / AFP via Getty Images

Analysis

Qatar gas shock roils Middle East energy risk profile amid Iran war

The disruption to energy transportation through the Strait of Hormuz predictably threatens crude prices, but it's natural gas supplies that are shocking the markets.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A food delivery bike drive close to a plume of smoke rising from the Zayed Port following a reported Iranian strike in Abu Dhabi on March 1, 2026. Iran's retaliatory missile and drone campaign in the Gulf has killed three people and wounded 58 in the United Arab Emirates since it began, Emirati authorities said on March 1, the day after the US and Israel launched a nationwaide attack on Iran killing its supreme leader. (Photo by Ryan Lim / AFP via Getty Images)

Analysis

From oil to data centers, US-Iran war takes key Mideast infrastructure offline

Although disruptions to shipping through the Strait of Hormuz have long been expected as a by-product of a regional war with Iran, Tehran is expanding the list of targets — with other key energy assets potentially in the crosshairs.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A cargo ship is pictured off the coast of Fujairah in the Strait of Hormuz, in the northern emirate, Feb. 25, 2026.

What US-Iran war means for oil prices, shipping and global markets

Oil surged and global markets slid after a US-Iran war disrupted shipping through the Strait of Hormuz, raising fears of prolonged energy supply shocks and wider economic fallout.

Close-up of an LPG dispenser nozzle filling a car's fuel tank. This illustrates the use of alternative fuel sources for automobiles. LPG is a cleaner-burning fuel compared to gasoline.

Asia liquefied petroleum gas prices spike after damage to Saudi facility

Swaps for LPG delivered to East Asia next month soared to more than $600 per ton, their highest since April 1, 2025, after Saudi state energy firm Aramco said it would be canceling some deliveries.

A general view of Saudi Aramco's Abqaiq oil processing plant on Sept. 20, 2019.

Saudi plans oil output hike amid fears of Iran-US war supply shock: Report

Ahead of the conflict between Israel and Iran in June 2025, Saudi Arabia adopted a similar strategy, producing roughly 9.7 million barrels of oil a day.