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

Saudi Aramco acquires lubricant giant Valvoline

Aramco has been investing in futuristic technology amid high oil prices and profits.

Price tags are seen on a market shelf of fresh fruit and vegetables on May 05, 2022, in Istanbul, Turkey.

Turkey raises inflation forecasts

The Turkish lira is also again falling close to historically low levels against the US dollar.

Russian President Vladimir Putin speaks as he attends the inauguration ceremony of new gas pipeline, TurkStream.

Turkey, Russia gas ties grow contentious amid Ukraine war

Russian gas giant Gazprom’s sudden “maintenance" shutdown of a major pipeline carrying gas to Turkey coincided with the talks over Finland's and Sweden’s NATO membership bids.

Iranian President Ebrahim Raisi and Russian President Vladimir Putin.

Iran says US dollar officially ditched in trade with ally Russia

The Islamic Republic took the step following the Russian president's meeting with Iran's leader in Tehran, where the two explored options on how to push back on international sanctions.

Prime Minister of the Kurdistan Regional Government Masrour Barzani (R) welcomes Iraqi Prime Minister Mustafa al-Kadhimi, Erbil, Iraqi Kurdistan, Sept. 10, 2020.

Kadhimi, Barzani meet in Baghdad to address oil, budget issues

Masrour Barzani, prime minister of the Kurdistan Regional Government of Iraq, met July 24 with Iraqi officials in Baghdad, including Iraqi Prime Minister Mustafa al-Kadhimi, reportedly discussing the establishment of a new energy government for the Kurdistan Region.

AL-MONITOR Staff

By AL-MONITOR Staff

A view of the Hamdan al-Qara mosque in southern Amman, equipped with 140 solar panels on its roof.

Jordan increases renewable energy use

Jordan does not have large oil and gas reserves, unlike other countries in the region.

JALAA MAREY/AFP via Getty Images

Hezbollah, Israel tensions heat up over border

US-led mediation over Israel's maritime borders with Lebanon complicated by border tensions with Israel.

United Arab Emirates President Sheikh Mohamed bin Zayed al-Nahyan (R) looks on during a meeting.

Abu Dhabi National Oil Company to work with France’s TotalEnergies on carbon capture

The deal came during UAE President Sheikh Mohammed bin Zayed Al Nahyan’s visit to France, where he strengthened energy relations with the European country. The two countries have grown closer over Libya and energy exploration in the Eastern Mediterranean.

(L-R) Russian President Vladimir Putin, Iranian President Ebrahim Raisi and Turkish President Recep Tayyip Erdogan.

Russia to invest $40 billion in Iran’s oil sector

The news came during Russian President Vladimir Putin’s visit to Iran and may have been motivated by US sanctions.

(L to R) Amos Hochstein, the US senior adviser for Energy Security, speaks with the Saudi Investment Minister Khalid al-Falih.

Venture capital investments in Saudi startups triple to $584 million

Saudi Arabia is proud of its emerging startup scene, but oil remains the bedrock of the Saudi economy.

A general view taken on April 9, 2014, shows the oil terminal of Marsa al-Hariga in Libya.

Explainer: Libya exports oil to Italy after end of shutdown in east

Tribes affiliated with Gen. Khalifa Hifter, who fought the government during the civil war, closed several oil fields due to a dispute with Libya’s state oil company.

US President Joe Biden takes notes while an usher serves coffee during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia's Red Sea coastal city of Jeddah on July 16, 2022.

Breaking | Last Updated: August 22, 2024, 10:46 am

Live Updates: Biden at GCC summit in Saudi Arabia 'the US is not going anywhere'

Follow along for the latest updates on the US president's trip to Israel, the West Bank and Saudi Arabia.