Oil and gas

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.

Latest News

Mideast oil exports surpass prewar levels despite pipeline, ship attacks

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

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

Analysis

As Iran’s grip on Hormuz weakens, what leverage does Tehran have left?

A woman crosses a street near a giant billboard erected on the facade of a building depicting a member of Iran's Islamic Revolutionary Guards Corps placing his foot on a US sea drone, reportedly seized by Iran in the Strait of Hormuz, in Vanak Square in Tehran, on Sept. 24, 2026.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

Saudi stocks hit wartime low as Aramco slides, Gulf oil exports rebound

Iran’s IRGC slams Trump as Ghalibaf threatens oil infrastructure

Ghalibaf

Egypt leads international coalition to confront Turkey in eastern Mediterranean

Egypt, Jordan, Israel, Cyprus, Greece and Italy signed the charter to transform the EastMed Gas Forum into a regional organization based in Cairo, in an attempt to form an international lobby capable of confronting Turkish ambitions in the eastern Mediterranean.

Saudi Arabia warns of ‘oil spot’ near aging tanker off Yemen's coast

UN officials have described the FSO Safer, an aging vessel that contains 1.14 million barrels of light crude oil, as a ticking time bomb.

Iran reportedly loading Venezuelan oil for sale abroad

Bloomberg reported that an Iranian ship reached the South American country last week. The United States is trying to stop fuel transfers between the two countries.

East-Med Gas Forum evolves as Israel, Egypt enhance cooperation

Israel’s Energy Minister Yuval Steinitz and six others sign the charter of the Eastern Mediterranean Gas Forum, which brings cooperation with other partners into a second, concrete phase.

Egyptian Minister of Petroleum Tarek el-Molla attends the East Mediterranean Gas Forum (EMGF), in Cairo, on January 16, 2020. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt announces record-high crude oil production for first time in decades

Egypt’s Ministry of Petroleum has recently announced the achievement of a record number in producing crude oil, exceeding 65,000 barrels per day, for the first time since 1957.

OPEC+ pressures Iraq, UAE to further cut oil production

Saudi Arabia and other OPEC members held a virtual meeting with Russia and other allied oil producers today to discuss the continuing low price of oil amid the COVID-19 pandemic.

TOPSHOT - A worker of the Venezuelan state oil company PDVSA waves an Iranian flag as the Iranian-flagged oil tanker Fortune docks at the El Palito refinery in Puerto Cabello, in the northern state of Carabobo, Venezuela, on May 25, 2020. - The first of five Iranian tankers carrying much-needed gasoline and oil derivatives docked in Venezuela on Monday, Caracas announced amid concern in Washington over the burgeoning relationship between countries it sees as international pariahs. (Photo by - / AFP) (Photo

Iranian fuel tankers reported off coast of South Africa

The tankers are reportedly bringing oil to Venezuela and may be taking the longer African route to avoid US forces following a seizure in August.

Israeli Energy Minister Yuval Steinitz (R), Greece's Energy Minister Kostis Hatzidakis (2nd-R), Egyptian Minister of Petroleum Tarek el-Molla (2nd-L) and Cypriot Energy Minister Yiorgos Lakkotrypis (L) attend the East Mediterranean Gas Forum (EMGF), in Cairo, on January 16, 2020. - Israel began pumping natural gas to Egypt for the first time yesterday under a $15 billion, 15-year deal to liquefy it and re-export it to Europe. It is the first time that Egypt, which in 1979 became the first Arab country to si

Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean

At a time when tensions are on the rise in the eastern Mediterranean, Egypt and Cyprus are intensifying talks to start building an offshore gas pipeline from the Aphrodite gas field to Cairo in preparation for re-export to Europe.

A picture taken on September 25, 2019 in the Mediterranean Sea, off the coast of Cyprus approximately 20 nautical miles (37 kilometers) north-west of Paphos, shows a Turkish army frigate, the TCG Gelibolu, (R) and the drilling vessel Fatih (L), which was deployed by Turkey to search for gas and oil in waters considered part of the EU state's exclusive economic zone (EEZ). (Photo by - / AFP) (Photo credit should read -/AFP via Getty Images)

Russia enters EastMed fray, offers to mediate with Turkey

As Turkey bemoans its loneliness in a bitter row with Greece over energy exploration in the Mediterranean Sea, Moscow says it is ready to step in to mediate talks.

Owners of Iranian fuel seized by US raise challenge in court

The US Justice Department says the companies challenging the fuel seizure are fronts for Iran's Islamic Revolutionary Guard Corps.

US government seizes control of websites allegedly involved in Iran-Venezuela oil deal

The seizure follows the US interception of fuel tankers from Iran en route to Venezuela this month amid increased US pressure on both countries.

ISTANBUL, TURKEY - MAY 29: In this aerial photo taken with a drone, Turkish drilling vessel 'Fatih' sails up the Bosphorus towards the Black Sea on May 29, 2020 in Istanbul, Turkey. (Photo by Burak Kara/Getty Images)

Turkey plans new naval drills in eastern Mediterranean

The Turkish navy will hold live-fire exercises in the eastern Mediterranean next week amid rising tensions with Greece.