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

U.S. Secretary of State Mike Pompeo listens to Chinese Communist Party Office of Foreign Affairs Director Yang Jiechi speak as the two countries hold a joint news conference after participating in a second diplomatic and security meeting at the U.S. Department of State, Washington, U.S., November 9, 2018. REUTERS/Leah Millis - RC152C740580

US policy faces blind spots on China, Middle East

The effects of US trade policy toward China may strike a blow on global markets and possibly affect US national security.

Iraq electricity minister: US will continue exemptions for Iranian electricity imports

Iraqi Minister of Electricity Luay al-Khatteeb told Al-Monitor that US exemptions in the energy sector will continue amid tensions in US-Iran relations.

A member of the oil police force guards the entrance of the West Qurna-1 oil field, which is operated by Exxon Mobil, near Basra, Iraq, May 20, 2019. Picture taken May 20, 2019. REUTERS/Essam Al-Sudani - RC17690F9600

Iraq’s oil sector caught in crossfire between US, Iran

US-Iran tensions have hit Iraq's oil industry, with ExxonMobil announcing an evacuation of its staff in Iraq to Dubai.

General view of the Natural Gas Liquids (NGL) facility in Saudi Aramco's Shaybah oilfield at the Empty Quarter in Saudi Arabia May 22, 2018. Picture taken May 22, 2018. REUTERS/Ahmed Jadallah TPX IMAGES OF THE DAY - RC1E18857C40

Saudi Arabia’s new 'freedom' gas

Saudi Arabia has partnered with a US company to export LNG from Texas, and is looking for more LNG deals.

Flames emerge from flare stacks at the oil fields in Kirkuk, Iraq October 18, 2017. REUTERS/Alaa Al-Marjani - RC15269F5E00

Oil dispute reignites Baghdad-Erbil tensions

Baghdad and Erbil's relations have largely normalized following the Kurdistan Regional Government's failed independence referendum in 2017. However, the Kurdish failure to commit to the federal budget law risks tarnishing those relations.

US grants Iraq reprieve to continue buying Iranian gas

The US is allowing Iraq to keep purchasing gas from Iran without sanctions, to allow Baghdad time to develop alternate sources.

Iranian National Oil Company opens office in Iraq

Tehran expands its economic and political influence in Iraq via its National Iranian Oil Company.

Turkish Foreign Minister Mevlut Cavusoglu speaks during a news conference with Iraqi Foreign Minister Mohamed Ali Alhakim in Baghdad, Iraq April 28, 2019. REUTERS/Khalid Al-Mousily - RC1AE7284290

Energy tops agenda of Turkish FM's meetings in Iraq

Turkey’s foreign minister is touring Iraq in a likely bid to boost ties with his country's oil-rich neighbor as the United States ends the waivers that allowed Turkey to buy oil from Iran.

Oil tankers wait to dock at Tupras refinery near the northwestern Turkish city of Izmit, Turkey, June 28, 2017. REUTERS/Umit Bektas - RC1424A5EB80

Turkey seeks alternate oil sources as US ends Iran sanctions waivers

Ankara vowed to defy US sanctions on Iran, but figures show Turkey heeding US restrictions and curtailing oil imports from Iran.

A general view of the Arak heavy-water project, 190 km (120 miles) southwest of Tehran January 15, 2011. A group of ambassadors to the U.N. atomic watchdog toured an Iranian nuclear site on Saturday, state television reported, and Tehran accused the European Union of missing an historic opportunity by boycotting the visit. REUTERS/ISNA/Hamid Forootan (IRAN - Tags: POLITICS ENERGY SCI TECH BUSINESS) - GM1E71G09FT01

Forget oil sanctions, end of nuclear cooperation waivers could quietly kill Iran deal

While the United States' stepping up of oil sanctions has gotten more attention lately, a greater threat to the nuclear deal involves the waivers allowing cooperation with Iran on nonproliferation.

Iran's Supreme Leader Ayatollah Ali Khamenei delivers a speech during a ceremony marking the death anniversary of the founder of the Islamic Republic Ayatollah Ruhollah Khomeini, in Tehran, Iran, June 4, 2017. TIMA via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. FOR EDITORIAL USE ONLY. - RC16ADBF0A50

Iran leadership shrugs off US oil sanctions, pledges response

Iran's supreme leader says the US plan to cap the flow of his country's oil will lead nowhere, pledging a "response to the US hostility."

US Secretary of State Mike Pompeo speaks during a press conference at the US Department of State in Washington, DC on April 22, 2019. - The United States announced on Monday it will no longer grant sanctions exemptions to Iran's oil customers, potentially punishing allies such as India as it tries to squeeze Tehran's top export. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo credit should read ANDREW CABALLERO-REYNOLDS/AFP/Getty Images)

US cuts Iran oil waivers in move to force Tehran out of nuclear deal

Washington is letting sanctions waivers for countries that import Iranian oil expire as it tries to make Iran quit the 2015 nuclear deal before a UN arms embargo is lifted next year as part of the agreement.