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

Cyprus deal to turn Egypt into major gas exporter to Europe

Egypt is hoping to rely less on natural gas imports after signing a deal with Cyprus to transport gas from the small Mediterranean island before it is liquefied in Egypt for exporting to European countries.

U.S. President Donald Trump meets with Iraqi Prime Minister Haider al-Abadi in the Oval Office at the White House in Washington, U.S., March 20, 2017. REUTERS/Kevin Lamarque - RC16A27D6260

Will Iraq comply with US-imposed Iran sanctions?

Iraq is willing to abide by US sanctions against Iran, according to Prime Minister Haider al-Abadi, yet pro-Iranian parties and militias slammed Abadi, calling for support for Iran against these sanctions.

Cairo breathes sigh of relief as Saudi oil exports resume through Bab el-Mandeb

Saudi Energy Minister Khalid Falih announced that his country resumed oil exports via the Bab el-Mandeb Strait, amid Egyptian fears that a decrease in traffic in the popular shipping corridor could impact Suez Canal revenues.

Will Russia, Iran dash Turkey's hopes of becoming energy corridor?

The recently signed Caspian protocol between the Caspian littoral states means that Iran and Russia can thwart Turkey’s hopes of transporting Turkmen gas and Kazakh oil via Turkey to Europe.

Will Iran, Russia step up energy cooperation to blunt US sanctions?

Amid rising US pressure, Tehran and Moscow might be on the cusp of a new era of economic cooperation, particularly in the energy sector.

Egypt to build $11 billion petrochemical complex

As Egypt invests in refining crude oil at home, domestic fuel prices continue to rise.

A picture taken on May 31, 2015 shows Iraqi flags fluttering in front of a tank for oil at al-Fao (also spelled al-Faw) storage terminal, located on the al-Fao Peninsula, south of the Iraqi province of Basra. AFP PHOTO / HAIDAR MOHAMMED ALI (Photo credit should read HAIDAR MOHAMMED ALI/AFP/Getty Images)

Floating oil island will handle Iraq's expected spurt in exports

Now that OPEC has approved an increase in oil production, Iraq expects to boost its exports significantly, and to accommodate that increase, South Oil Co. will develop a floating oil island.

Russian President Vladimir Putin shakes hands with Saudi Crown Prince Mohammed bin Salman during their meeting at the Kremlin in Moscow, Russia June 14, 2018. Yuri Kadobnov/Pool via REUTERS - RC1F6D500190

Saudi crown prince, Putin boost energy cooperation in Moscow meeting

The recent meeting between the Russian president and the Saudi crown prince appears to have moved the two countries closer to a grand bilateral energy deal.

Italy may impede Turkish-Azeri efforts for EU gas corridor

Turkey and Azerbaijan realize EU's gas corridor dream, but serious questions remain unanswered.

JABALIYA, GAZA - MARCH 29: A Palestinian woman walks past a petrol pump at a fuel station on March 29, 2010 in Jabaliya, Gaza Strip. Fuel in Gaza is supplied primarily from the tunnels via Egypt, but is of poor quality. Nearly all goods for sale in Gaza have been smuggled from Egypt via smuggling tunnels, bringing in food, fuel, livestock, motorcycles and medicine. Gaza's economy and employment levels have plummeted since the Israelis imposed a blockade after Hamas seized control in 2007. (Photo by Warrick

Rapid spread of gas stations fuels controversy in Gaza

Gas stations are increasingly being invested in under the degenerating economic and humanitarian situation in the Gaza Strip, pointing at conflicting interests between Gaza’s Ministry of Finance and Planning and the Ministry of Local Government.

Russia might not be ready for long-term OPEC commitment

Saudi Arabia seems to think Russia is on board with a lengthy OPEC deal, but Moscow has a lot of factors to consider.

The Homer Ferrington gas drilling rig, operated by Noble Energy and drilling in an offshore block on concession from the Cypriot government, is seen during President Demetris Christofias' visit in the east Mediterranean, Nicosia November 21, 2011. REUTERS/Cyprus Public Information Office/Handout/File Photo FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS

Erdogan stays silent on Qatar amid Cyprus gas row

Amid an escalating dispute over gas exploration off Cyprus, observers in Turkey are perplexed about why Ankara is sparing Qatar while harshly reacting to other countries and companies cooperating with the Greek Cypriots.