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

This picture taken on July 19, 2020 shows a general view of a makeshift refinery using burners to distill crude oil in the village of Bishiriya in the countryside near the town of Qahtaniya west of Rumaylan (Rmeilan) in Syria's Kurdish-controlled northeastern Hasakeh province. - Oil pollution in Syria has become a growing concern since the 2011 onset of a civil war that has taken a toll on oil infrastructure and seen rival powers compete over control of key hydrocarbon fields. In the Kurdish-held northeast,

US oil company signs deal with Syrian Kurds

Sources told Al-Monitor the agreement to market oil in territory controlled by the US-backed Syrian Democratic Forces was signed “with the knowledge and encouragement of the White House.”

Turkey stops eastern Mediterranean drilling, wants talks with Greece

The area in which Turkey planned to drill for gas is considered by Greece and Cyprus to be their waters.

East Mediterranean tensions flare as Turkey seeks leverage in maritime border talks

Surveying activities by a Turkish ship in the eastern Mediterranean Sea have put Greek forces on high alert as Ankara seeks leverage in regional maritime border disputes.

Will Azeri-Armenian flare-up change energy game in South Caucasus?

Azeri-Armenian clashes in the strategically significant Tavush area could be the harbinger of tectonic changes in the energy politics in the South Caucasus, Turkey and Iran.

BERLIN, GERMANY - MAY 20: Heiko Maas (SPD), Federal Minister of Foreign Affairs, attends the Cabinet Meeting during the coronavirus on May 20, 2020 in Berlin, Germany. (Photo by Andreas Gora - Pool/Getty Images)

Top German diplomat criticizes Turkey's drilling plans in Mediterranean

German Foreign Minister Heiko Maas repeated the concerns of other European states regarding Turkey's gas drilling plans in what Greece and Cyprus consider their waters.

Greek Prime Minister Kyriakos Mitsotakis (C) speaks during a press conference with Israel's Prime Minister Benjamin Netanyahu (R) and Cypriot President Nikos Anastasiadis (L) in Athens on January 2, 2020 following the signing ceremony of an agreement for the EastMed pipeline project designed to ship gas from the eastern Mediterranean to Europe in Athens on January 2, 2020. (Photo by ARIS MESSINIS / AFP) (Photo by ARIS MESSINIS/AFP via Getty Images)

East-Med undersea pipeline project now ratified by Israel

Advancing the East-Med project one step further, Israel’s government ratified the agreement signed last January with the governments of Cyprus and Greece.

Massive pipeline fire injures 17 near Cairo

The highway fire, which engulfed scores of cars, is believed to have been caused by leakage from a nearby crude oil pipeline.

US threatens sanctions in bid to restore oil sharing in Libya

The US government raised the specter of sanctions on unspecified parties involved in Libya’s civil war yesterday after Libya’s oil authority accused the United Arab Emirates (UAE) of obstructing efforts to restore petroleum revenue sharing between the country’s warring sides.

Report: Energy producers in Middle East to earn billions less in oil revenues

The International Monetary Fund's prediction that was reported by The Associated Press is the latest negative outlook for Middle Eastern economies.

A picture taken on March 12, 2017, shows a view of an oil facility in the Khark Island, on the shore of the Gulf. / AFP PHOTO / ATTA KENARE (Photo credit should read ATTA KENARE/AFP via Getty Images)

Iran cuts oil production and storage is nearly full amid pandemic, US sanctions

Reuters reported that Iran's onshore storage facilities are nearly full while production is at its lowest point since the Iran-Iraq war.

Israel approves exploration, bidding on disputed offshore field

Energy Minister Yuval Steinitz announced June 23 the opening of bidding for drilling in Block 72, off Israel’s northern shores, which Lebanon says is adjacent to its own fields.

An employee walks on the Expedient regasification ship, anchored off the coast of Israel in the Mediterranean Sea on February 26, 2015, as natural gas began flowing from the vessel, hired by the Israel Electric Corporation, to its power stations. The ship, anchored about ten kilometres from the Hadera coast, was connected the previous week to the marine buoy and as of February 25, natural gas has begun flowing from the LNG (liquid natural gas) ship through an underwater pipeline directly to the company's po

Israel, Egypt energy ties so far unaffected by coronavirus crisis, annexation plan

Despite the coronavirus crisis and the annexation plan, agreements to export Israeli natural gas to Egypt remain intact.