Analysis Why the Hormuz oil shock never became an energy catastrophe The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Explainer After UAE and Qatar, could Iraq be next to leave OPEC? Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis. Iraq
Explainer Syria’s energy push could soon get a major boost from Chevron: What to know The country's leaders are seeking to translate a flurry of oil and gas agreements into concrete investments and rebuild an industry devastated by more than a decade of war, sanctions and isolation. Syria
Oil falls below $74 as Hormuz traffic recovers after Iran war Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close. Iran
Oil dispute reignites Baghdad-Erbil tensions Baghdad and Erbil's relations have largely normalized following the Kurdistan Regional Government's failed independence referendum in 2017. However, the Kurdish failure to commit to the federal budget law risks tarnishing those relations. Iraq
US grants Iraq reprieve to continue buying Iranian gas The US is allowing Iraq to keep purchasing gas from Iran without sanctions, to allow Baghdad time to develop alternate sources. Legacy: Gulf
Iranian National Oil Company opens office in Iraq Tehran expands its economic and political influence in Iraq via its National Iranian Oil Company. Iraq
Energy tops agenda of Turkish FM's meetings in Iraq Turkey’s foreign minister is touring Iraq in a likely bid to boost ties with his country's oil-rich neighbor as the United States ends the waivers that allowed Turkey to buy oil from Iran. Iraq
Turkey seeks alternate oil sources as US ends Iran sanctions waivers Ankara vowed to defy US sanctions on Iran, but figures show Turkey heeding US restrictions and curtailing oil imports from Iran. Turkey
Forget oil sanctions, end of nuclear cooperation waivers could quietly kill Iran deal While the United States' stepping up of oil sanctions has gotten more attention lately, a greater threat to the nuclear deal involves the waivers allowing cooperation with Iran on nonproliferation. United States
Iran leadership shrugs off US oil sanctions, pledges response Iran's supreme leader says the US plan to cap the flow of his country's oil will lead nowhere, pledging a "response to the US hostility." Saudi Arabia
US cuts Iran oil waivers in move to force Tehran out of nuclear deal Washington is letting sanctions waivers for countries that import Iranian oil expire as it tries to make Iran quit the 2015 nuclear deal before a UN arms embargo is lifted next year as part of the agreement. United States
Congress adds new irritant in US-Turkey relations with pro-Cyprus push Members of the Senate Foreign Relations Committee want to lift the arms sale ban on the disputed island. Turkey
Iran signals change to FX regime, crackdown on profiteering The Iranian authorities said renewed turbulence on foreign exchange markets will be short-lived as signals were sent that a crackdown on profiteering is ahead. United States
Russia expands ties in Lebanon’s oil, gas sector Russia has gotten a huge head start on the United States in gaining access to Lebanon’s oil and gas sector, allowing Moscow to continue to strengthen its economic position across the Middle East. Israel
Egypt takes another whack at fuel subsidies Egypt's draft budget for fiscal year 2019/20 includes a 42% cut in fuel subsidies, raising concerns among drivers across the country. Egypt
