Oil and gas

Traders work on the floor of the New York Stock Exchange at the opening bell, New York City, Sept. 28, 2026.

Oil tops $114 as traders brace for Iran escalation after US midterms

On Friday, BP posted its highest profits in 18 years as a result of the Iran conflict, which has driven up oil and gas margins.

A general view shows the Awad oil field in the eastern Qamishli countryside in northeastern Syria, on Feb. 15, 2026.

Interview

US oil firm HKN aims to double output in Syria's formerly Kurdish-run fields

HKN Vice President Matthew Zais tells Al-Monitor the company plans to double production at Syria’s northeastern oil fields while tackling pollution, as questions remain over the future of the Kurdish-run Jazira Oil Company.

Matthew Zais

Matthew Zais

HKN vice president for government affairs

KARIM JAAFAR/AFP via Getty Images

Qatar becomes largest buyer of LNG from US amid Hormuz disruption

QatarEnergy has agreed to purchase up to 7 million metric tons per year of US LNG through long-term contracts signed this month.

Zaidi

Iraq's Zaidi meets Sharaa on first Syria visit: What to know

Syrian President Ahmed al-Sharaa has sought to assuage concerns about his past militant activity in Iraq, whose oil trade and security cooperation with his two country is rising.

Latest News

Saudi oil infrastructure in crosshairs as Houthis claim Ras Tanura strike

BILAL QABALAN/AFP via Getty Images

UAE battles tanker oil spill as war's environmental toll mounts

FADEL SENNA / AFP via Getty Images

United Arab Emirates

Qatar locks in US LNG through 2054 as it looks beyond Hormuz

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

Gulf oil exports surpass prewar levels despite escalating tanker attacks

The Chinese-flagged container shipping vessel Hui Fa transits the Gulf of Oman off the coast of Khor Fakkan in the emirate of Sharjah east of the UAE, on Oct. 13, 2026.

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

Benoit Tessier / AFP via Getty Images

Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest

France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption.

shoppers walking through the Tajrish Bazaar, a traditional market in Tehran

Analysis

As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege?

The country's last barrels of crude stockpiled beyond the reach of a US naval blockade fell to zero in October, raising the stakes for Tehran amid mounting economic distress.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A vessel transits the Gulf of Oman

Analysis

How much oil can cushion another Middle East supply shock?

Global oil inventories stood at 3.35 billion barrels in October, the lowest level on record since January 2017, according to Kpler.

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

Fuel prices are displayed at a petrol station in Rabat

Explainer

Russian diesel heads to Morocco as supply crunch grips global markets

Gulf countries and Russia together accounted for almost 45% of global seaborne diesel and gasoil trade before the Iran war.

Flames burn at a facility belonging to Saudi oil giant Aramco south of Riyadh

Explainer

Aramco HQ attack exposes Saudi defense gaps, infrastructure vulnerabilities

The Iran-linked Yemeni militants struck at the heart of Saudi Arabia’s oil industry this week amid an expanding campaign against key infrastructure.

TOPSHOT - Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf's petroleum facilities hours after the US struck Iran's Kharg Island. (Photo by AFP via Getty Images) /

Explainer

IMF projects Gulf rebound in 2027. Can energy production keep pace?

Restoring shipping access in the Strait of Hormuz is only part of the recovery, as Gulf producers also need to repair damaged infrastructure to avoid further disruption to production and exports.

A cargo ship is pictured off coast of the Khor Fakkan Container Terminal, along the Gulf of Oman, on June 28, 2026, after Iran's top diplomat warned that any attempt by shipping to bypass its preferred route through the Strait of Hormuz would "increase tensions" in the Middle East.

Hormuz attacks spike after US airstrike on Iran-linked tanker

Six commercial vessels were hit in just one day in the Strait of Hormuz after an American fighter jet disabled an Iran-linked tanker that military officials accused of attempting to run the US naval blockade.

Jared Szuba

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

Guests attend the 25th WPC Energy Congress, Riyadh, Saudi Arabia, Oct. 12, 2026.

Saudi Arabia outlines oil export plans amid escalating Houthi attacks

Saudi authorities said on Monday they were extending the suspension of operations at King Khalid International Airport after deadly attacks over the weekend by Yemen's Iran-aligned Houthis.

A man walks past a closed foreign exchange office in Baghdad on October 7, 2026. Iraq's central bank devalued the dinar currency against the dollar on October 7, with the country facing a deepening crisis brought on by the Middle East war. (Photo by AHMAD AL-RUBAYE / AFP via Getty Images)

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320.

U.S. Secretary of State Marco Rubio speaks at the Pnyx hill, where ancient Athenians held democratic assemblies, with the ancient Parthenon temple atop the Acropolis seen in the background, in Athens on October 7, 2026. (Photo by Mark Schiefelbein / POOL / AFP via Getty Images)

Explainer

Rubio says Iran ‘lost’ Hormuz. Has it?

US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September.

A Yemeni man holds up a mock missile decorated with the colors of the Palestinian flag and the chechered keffiyeh in front of portraits of slain Hamas leader Yahya Sinwar (L) and the leader of the Houthi movement, Abdel Malek al-Houthi (R), during a protest in Sanaa to denounce strikes on Yemen and Israel's bombardment of Gaza on Jan. 15, 2025.

Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks

Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify.

Vessels transit the Hormuz Strait off the coast of Iran's southern port city of Bandar Abbas on Sept. 7, 2026.

Mideast oil exports surpass prewar levels despite pipeline, ship attacks

Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack.

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