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

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)

How Mediterranean standoff complicates Turkey's natural gas agenda

Too many factors — especially tensions with Greece — are at play to determine whether recent gas discovery in the Black Sea will translate into massive commercial and political gains for Ankara.

Turkish Foreign Affairs Minister Mevlut Cavusoglu (R) and German Foreign Affairs Minister Heiko Maas (L) hold a joint press conference following their meeting at the Turkish Foreign Ministry in Ankara on August 25, 2020. - The German Foreign minister warned on August 25 that Turkey's standoff with Greece in the eastern Mediterranean was at a "very critical" juncture but stressed that both sides appeared ready to talk. A crisis has been brewing in the eastern Mediterranean, where Turkey is at odds with Greec

Germany appeals for calm as Turkish, Greek navies run drills in EastMed

The Turkish and Greek navies conducted drills in the eastern Mediterranean this week as German Foreign Minister Heiko Mass seeks to bring both nations back to the negotiation table.

Turkish Foreign Affairs Minister Mevlut Cavusoglu holds a joint press conference with the German Foreign Affairs minister following their meeting at the Turkish Foreign Ministry in Ankara on August 25, 2020. - The German Foreign minister warned on August 25 that Turkey's standoff with Greece in the eastern Mediterranean was at a "very critical" juncture but stressed that both sides appeared ready to talk. A crisis has been brewing in the eastern Mediterranean, where Turkey is at odds with Greece and the Eur

Turkey open to talks with Greece without preconditions: foreign minister

During a meeting with his German counterpart, Turkish Foreign Minister Mevlut Cavusoglu said his government is ready for talks with Greece, but without preconditions.

Intel: Saudi Arabia Energy Ministry all in on $500 billion megacity

An agreement between the futuristic megacity and Saudi Arabia's Energy Ministry underscores the Kingdom's push for renewable energy and economic diversification.

People watch as Scarabeo 9, a 115-meter-long and 78-meter-high Frigstad D90-type semi-submersible drilling rig, passes on the Bosphorus Strait en route to the Black Sea in Istanbul on August 29, 2019. - The semi-submersible drilling rig is owned and operated by Italian oil and gas industry contractor Saipem and registered in Nassau, Bahamas. (Photo by Ozan KOSE / AFP) (Photo credit should read OZAN KOSE/AFP via Getty Images)

Turkey announces major natural gas discovery in Black Sea

President Recep Tayyip Erdogan said the discovery of 320 billion cubic meters of natural gas will help Turkey reduce its reliance on foreign energy supplies.

Iraq's Foreign Minister Fuad Hussein (L) speaks during a press conference with US Secretary of State Michael Pompeo at the State Department in Washington, DC on August 19, 2020. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

Intel: Iraq to ink oil deal with Chevron, foreign minister says

The Iraqi government will sign an agreement with American oil company Chevron, Iraq’s Foreign Minister Fuad Hussein said during his visit to Washington on Wednesday.

Intel: Iran’s navy boards oil tanker near Strait of Hormuz, US says

A Liberian-flagged ship was seized by Iranian forces in international waters near the Strait of Hormuz, according to a US-led maritime security coalition.

Turkey to issue new drilling licenses in eastern Mediterranean amid rising tensions

Following escalations Aug. 10 between Turkey and Greece over contested areas of the eastern Mediterranean, Ankara officials said they would issue new exploration licenses in the region this month.

This picture taken on August 23, 2019 in Istanbul shows a view of Turkish General Directorate of Mineral research and Exploration's (MTA) Oruc Reis seismic research vessel docked at Haydarpasa port, which searches for hydrocarbon, oil, natural gas and coal reserves at sea. (Photo by Ozan KOSE / AFP) (Photo credit should read OZAN KOSE/AFP via Getty Images)

Greece calls on Turkey to stop renewed gas exploration activities in East Med

As Turkish vessels are dispatched near Greek territorial waters, analysts say tensions in the eastern Mediterranean Sea could quickly escalate if leaders on both sides do not reengage in diplomatic talks.

Intel: Amid maritime deal with Egypt, Greece invites UN court to settle sea dispute with Turkey

Greek Prime Minister suggests that if no agreement can be reached, his country's dispute with Turkey over a maritime boundary should go to an international court.

An aerial view shows the massive damage done to Beirut port's grain silos (C) and the area around it on August 5, 2020, one day after a mega-blast tore through the harbour in the heart of the Lebanese capital with the force of an earthquake, killing more than 100 people and injuring over 4,000. - Rescuers searched for survivors in Beirut in the morning after a cataclysmic explosion at the port sowed devastation across entire neighbourhoods, killing more than 100 people, wounding thousands and plunging Leban

The Takeaway: Will catastrophe reshape Lebanon’s social contract?

The scoop on the Syrian Kurdish oil deal; Sisi to challenge Erdogan in Iraq and Syria; Lapid leads list of contenders to challenge Bibi; don’t shortchange Iraq’s resilience.

Mazloum Abdi (Kobani), commander-in-chief of the Syrian Democratic Forces (SDF), speaks with AFP during an interview in the countryside outside the northwestern Syrian city of Hasakah, in the province of the same name, on January 24, 2019. - Any deal between Syria's Kurds and the Damascus regime should respect the "special status" of Kurdish-led forces who fought the Islamic State (IS) group, Kobani said. The SDF control around a third of Syria after expelling jihadists from a large northeastern swathe of t

Can Syria's Kurds reel in Turkey with profits from American oil deal?

The recent deal signed between the SDF and a US oil company is as much about political brinkmanship as oil.