Oil and gas

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Oil falls more than 3% after Iran, US signal progress in talks

International benchmark Brent crude fell to $78.68 as of 7:06 a.m. EDT.

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

Latest News

Explainer

US strategic oil stockpile nears four-decade low as Iran war drags on

Scott Olson/Getty Images

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

AFP via Getty Images

Oman denies disruption at key oil hub after reported drone attack

Oman’s state-owned oil company rebuffed reports about the suspension of oil loading operations at a key port following an alleged drone attack.

Amjad Kurdo / Middle East Images / AFP via Getty Images

Explainer

How Iran war created unexpected economic beneficiaries

The Strait of Hormuz crisis is reshaping global energy and trade flows, creating opportunities for economies far beyond the Middle East.

US Secretary of State Marco Rubio testifies during a House Committee on Foreign Affairs hearing in the Rayburn House Office Building on June 03, 2026, in Washington. The hearing was held to examine the State Department's budget request for fiscal year 2027.

After Gulf attacks, Rubio faces pushback on 'war is over' claim

Secretary of State Marco Rubio said the latest US strikes on Iran are "completely defensive."

A photo of Karim Badawi, Minister of Petroleum and Mineral Resources, speaking at the high-level ministerial session of Baku Energy Week in the Azerbaijani capital.

Egypt, Turkey push energy ties in Azerbaijan talks amid Hormuz crisis

Egypt and Turkey are moving to deepen energy cooperation as Iran’s de facto blockade of the Strait of Hormuz disrupts Gulf energy flows, increasing the significance of Eastern Mediterranean energy infrastructure.

Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output passes on June 23, 2025.

UAE eyes first multifuel pipeline as Hormuz crisis drags on

State-owned Abu Dhabi National Oil Company is considering building a refined oil products pipeline that bypasses the Strait of Hormuz.

United Arab Emirates

Vessels are anchored off the coast of Sharjah in the United Arab Emirates on May 21, 2026.

Oil tumbles as Iran signals Hormuz could open within 30 days

Traders continue to bet that a resolution to end the US-Israel-Iran war is near.

A woman walks past an anti-US and anti-Israel mural depicting missiles hitting an aircraft carrier in Tehran on May 26, 2026.

US-Iran tit-for-tat strikes over Hormuz expose risks of prolonged standoff

If the Trump administration does not reach an agreement with Iran soon, the specter of long-term, low-grade conflict over the strait may set in.

Jared Szuba

In Washington, DC, reporting on defense, national security, military

AFP via Getty Images

Iran’s Hormuz authority declares control over ports in UAE, Oman: What to know

The Persian Gulf Strait Authority released a map showing its “areas of oversight” extending to the United Arab Emirates’ ports, eliciting a rebuke from a senior Emirati official.

A tugboat guides the Russian oil tanker Anatoly Kolodkin as it arrives at the oil terminal in the port of Matanzas, northwestern Cuba, on March 31, 2026.

US extends Russian oil sanctions waiver as Iran war squeezes supply

The waiver temporarily lifts sanctions on Russian oil for 30 days.

Iranian cargo trucks cross into the Pakistan-Iran border at Taftan, Balochistan province, on June 18, 2025, amid the ongoing conflict between Israel and Iran.

Analysis

Pakistan’s six corridors offer Iran a trade lifeline, could outlast Hormuz crisis

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Prime Minister Narendra Modi visited Abu Dhabi on May 15, 2026, and was warmly received by the UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan at the airport. The PM is shown being accorded a Guard of Honor upon his arrival.

UAE unveils $5B India investment push during Modi visit: What to know

India and the UAE signed deals related to energy supplies and maritime security, further strengthening ties amid the war in the region.

United Arab Emirates

An ADNOC Gas subsidiary of the Abu Dhabi National Oil Company facility in Abu Dhabi, March 3, 2026.

UAE to fast-track construction of second oil pipeline, bypassing Hormuz: What to know

ADNOC, the UAE's state-owned oil company, has been ordered to prioritize completion of the pipeline to double oil exports through the Gulf Oman.

United Arab Emirates