Oil and gas

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

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.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

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.

Amjad Kurdo / Middle East Images / AFP via Getty Images

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.

Elke Scholiers/Getty Images

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.

Latest News

Explainer

Hormuz tolls, frozen funds pose early tests for US-Iran peace progress

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

What’s the status of Strait of Hormuz after US-Iran talks?

Handout Photo by the US Navy via Getty Images

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

OPEC

Analysis

US should balance response to OPEC+ oil cuts with other needs

Yet again, Iran lurks in background.

Week in Review

By Week in Review

OPEC

Analysis

Democrats tear into Saudi Arabia over OPEC+ cut

The State Department on Thursday dismissed calls from some Democrats to withdraw US troops and missile systems from Saudi Arabia.

Elizabeth Hagedorn

By Elizabeth Hagedorn

In Washington, DC, reporting on diplomacy, regional politics, human rights

Libyan Foreign Minister Najla al-Mangoush (R) and Turkish Foreign Minister Mevlut Cavusoglu.

Turkey's energy deal in Libya fans regional rivalries

Turkey is likely to face stronger headwinds in the eastern Mediterranean after signing a controversial energy exploration deal with Libya’s interim government.

Representatives of OPEC member countries attend a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting, Vienna, Austria, Oct. 5, 2022.

Iraq's commitment to OPEC oil reduction won't affect exports

Iraq's oil reduction per the recent OPEC+ agreement will not affect the country's revenues, according to Iraq's oil minister.

Palestinians participate in a rally at the Gaza City sea port, in which they demand their right to receive gas from maritime fields in the eastern Mediterranean and the lifting of the Israeli blockade, Gaza Strip, Sept. 13 2022.

Egypt persuades Israel to extract Gaza’s natural gas

Al-Monitor obtained information from Palestinian and Egyptian officials about the success of Egyptian mediation in pushing Israel to allow the start of extracting natural gas off the coast of the Gaza Strip.

Iraqi Prime Minister Mustafa al-Kadhimi (2nd right) and his Jordanian counterpart, Bisher al-Khasawneh (2nd left), are seen during the launching ceremony of the electrical grid connection project between the two countries, Anbar province, Iraq, Oct. 6, 2022.

Iraq, Jordan launch electrical grid connection project

Iraq and Jordan launched a project for an electrical grid connection between the two countries in order to improve Iraq's electricity situation and boost economic ties between the two countries.

Israeli Defense Minister Benny Gantz

Israeli defense minister fosters security ties in Azerbaijan

Israeli Defense Minister Benny Gantz traveled this week to Azerbaijan on the backdrop of growing tensions with Iran and Jerusalem’s desire to deepen strategic, security and economic ties with Baku.

Turkey gas

Turkey-Libya energy deal clouds waters in East Mediterranean

An energy deal signed between Turkey and the Libyan administration of  Abdul Hamid Dbeibah on Monday has brought a reaction from Greece, EU and Libya’s eastern-based parliament.

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea.

Israel, Cyprus to resolve disagreement over maritime gas field

Most of the disagreement points between Israel and Cyprus over the joint Aphrodite-Yishai natural gas reservoir have been resolved, and an agreement is apparently imminent.

Halfaya oil field in the al-Kahla district in the city of Amara south of Baghdad on July 26, 2022.

Abu Dhabi port operator signs oil transport deal with Iraqi firm

AD Ports Group is seeking to expand its international business, recently making agreements in Egypt and Uzbekistan to this end.

Kevin Dietsch/Getty Images

Breaking | Last Updated: September 29, 2022, 6:42 pm

US unveils new sanctions targeting Iran’s oil sales

The Biden administration on Thursday blacklisted entities in China, Hong Kong, Iran, India and the United Arab Emirates over their alleged involvement in Iran’s petrochemical trade.

Residential buildings are seen unilluminated in the evening on Sept. 10, 2022, in Berlin, Germany.

UAE to help Germany reduce dependence on Russian gas

Qatar is also reportedly close to supplying the European country with natural gas amid the Ukraine war.

United Arab Emirates