Oil and gas

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

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.

Latest News

Oil falls below $74 as Hormuz traffic recovers after Iran war

Elke Scholiers/Getty Images

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

An employee fills up a vehicle with fuel at a CO-OP petrol station in Cairo, January 13, 2015. Picture taken January 13, 2015. REUTERS/ Mohamed Abd El Ghany (EGYPT - Tags: TRANSPORT BUSINESS COMMODITIES ENERGY BUSINESS EMPLOYMENT SOCIETY) - LR2EB2A0ZWORP

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.

Russian President Vladimir Putin (R) and Saudi Arabia's King Salman attend a welcoming ceremony ahead of their talks in the Kremlin in Moscow, Russia October 5, 2017. Sputnik/Alexei Nikolsky/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC1280FB8D90

Iran threatened by Russia-Saudi oil pact

Oil dealings between Moscow and Riyadh raise suspicions in Tehran, but Iran may soon learn they have a silver lining.

Oil smugglers can count on corruption in Iraq

More than a year after Mosul was liberated from the Islamic State, oil smuggling continues in the area.

Nikolai Patrushev (R), Secretary of the Security Council of Russia (R) listens during the first meeting of national security secretaries of Afghanistan, China, Iran, India and Russia, in the Iranian capital Tehran on September 26, 2018. (Photo by ATTA KENARE / AFP) (Photo credit should read ATTA KENARE/AFP/Getty Images)

Top Russian security officials tour Egypt, Gulf to discuss Syria, Libya

Over the space of a week, top officials in the Russian security apparatus toured Saudia Arabia, the United Arab Emirates and Egypt with some intriguing proposals on Syria and Libya.

Turkish Navy frigate Gaziantep escorts drilling vessel Fatih off the Mediterranean resort city of Antalya, Turkey October 30, 2018. REUTERS/Kaan Soyturk - RC152D671210

Ankara set to boost naval posture with major exercise

Turkey may be planning an ambitious air-naval military drill that would span three seas.

Is new energy league an alliance against Ankara?

A Cairo-based partnership among Egypt, Israel, Cyprus, Greece, Italy, Jordan and the Palestinian Authority is ready to explore energy sources in the eastern Mediterranean — whether Turkey likes it or not.

Iran's Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria December 6, 2018. REUTERS/Leonhard Foeger - RC1F5D012E50

US sanctions and the dynamics of Iran’s petroleum sector

While US sanctions are hitting Iran’s key energy sector hard, the industry remains set to advance, albeit at a slower pace and with a lower level of technology.

Congress sees unprecedented opportunity to confront OPEC

For the first time since OPEC’s formation, both the White House and Congress appear to be on the same page when it comes to suing the oil cartel for violating the US antitrust law.

Iranians fill up their cars with fuel at a petrol station in Tehran, Iran, January 25, 2016. REUTERS/Raheb Homavandi/TIMA ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. FOR EDITORIAL USE ONLY. - GF20000106419

Why the Rouhani administration must eliminate energy subsidies

Despite pressure from lawmakers and the general public, the Rouhani administration must proceed with fuel-subsidy reform in order to relieve itself of avoidable financial burdens.

Iranians drivers fill their tanks at a gas station in the capital Tehran on November 5, 2018. - Iran's President Hassan Rouhani said the Islamic republic "will proudly bypass sanctions" by the United States that took effect on Monday targeting the country's oil and financial sectors. (Photo by ATTA KENARE / AFP) (Photo credit should read ATTA KENARE/AFP/Getty Images)

Iran reintroduces fuel cards to combat smuggling

The Iranian government’s reintroduction of fuel cards has the potential to increase efficiency in governance and economy. However, it is important that the government pursue a comprehensive plan to rationalize fuel consumption, subsidies and cash handouts.

Intel: How Russia, Iran are facilitating illicit oil shipments to Syria (according to the US)

Russian President Vladimir Putin (L) meets with his Turkish counterpart Tayyip Erdogan in Istanbul, Turkey November 19, 2018. Sputnik/Ramil Sitdikov/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - UP1EEBJ18SBRX

Putin, Erdogan boost Russia-Turkey ties with TurkStream

Putin, Erdogan are all smiles in Istanbul marking the end of construction of the offshore section of the TurkStream. The megaproject seeks to boost the relations and change Eurasia's energy market.