Oil and gas

Yuichi YAMAZAKI / AFP via Getty Images

First LNG tanker transits Strait of Hormuz since Iran war began

Thomas Kronsteiner/Getty Images)

Breaking | Last Updated: April 28, 2026, 8:54 am

UAE to leave OPEC on May 1

The United Arab Emirates says it will focus more on domestic production amid the US-Israel-Iran war.

United Arab Emirates

A person walks past the closed Metropolitan Opera at Lincoln Center on Jan. 7, 2021, in New York City.

Why did the Met Opera lose its Saudi funding deal?

The deal, announced as a nonbinding memorandum of understanding last September, would have seen the PIF inject up to $200 million into the opera institution over the next eight years.

Refueling trucks are seen at Southend Airport on April 17, 2026, in Southend, England.

Which airlines are cutting flights amid Hormuz fuel disruption?

European and Asian airlines have been most impacted by the closure of the Strait of Hormuz, which is throttling jet fuel supplies.

Latest News

How are Iran-linked tankers still moving through Hormuz blockade?

BAY ISMOYO / AFP via Getty Images

Iran seizes two cargo ships in Hormuz after Trump extends ceasefire

Fishing and cargo ships and ferries are pictured in the Gulf off the Iranian port city of Bandar Abbas, which is the main base of the Islamic Republic's navy and has a strategic position on the Strait of Hormuz, on April 29, 2019.

Analysis

Gulf energy deals face Iran war stress test as global expansion meets oil shock

A picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on Feb. 6, 2017.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Oil rises, Gulf stocks slide after Iran ship seizure throws truce into doubt

A man walks past a screen displaying stock indices at the Dubai Financial Market stock exchange in Dubai, March 4, 2026.

Ukrainian presidential adviser Mykhailo Podolyak (C) speaks to the press.

Analysis

The Takeaway: Turkey thrust into spotlight amid Ukraine-Russia talks

Turkey acts as mediator in the Russia-Ukraine crisis, Israel is on high alert after a wave of terrorist attacks, how drones are revolutionizing the battlefield, and more.

Elizabeth Hagedorn

Andrew Parasiliti

Joe Snell

By Elizabeth Hagedorn , Andrew Parasiliti , Joe Snell

KARIM SAHIB/AFP via Getty Images

OPEC remains committed to oil production agreement with Russia

The Biden administration has been unable to get Gulf states to increase oil production to bring down prices and some European states are seeking alternatives to Russian natural gas.

Saudi economy

Saudi Arabian export stats show mixed results in non-oil commerce

Saudi Arabia is working to diversify its economy, but figures from January show it remains dependent on foreign oil sales.

The Barakah nuclear plant, seen here in Ruwais, Abu Dhabi.

UAE expands nuclear power plant, doubles electricity production

The UAE is still reliant on oil and gas, though nuclear energy is rising in the country and across the region.

United Arab Emirates

Egyptian Minister of Petroleum Tarek el-Mulla attends the East Mediterranean Gas Forum, Cairo, Egypt, Jan. 16, 2020.

Egypt seeks to boost gas exports to Europe as Russia-Ukraine war drags on

Egypt hopes to boost its natural gas exports at a time when European countries are gradually giving up reliance on Russian hydrocarbons, including gas, in the wake of Russia’s invasion of Ukraine.

Turkish Energy and Natural Resources Minister Fatih Donmez (2nd-L) and Azerbaijani Energy Minister Parviz Shahbazov (2nd-R) attend the Turkey-Azerbaijan (Nakhchivan) Natural Gas Pipeline Project signing ceremony at the Turkish Energy and Natural Resources Ministry headquarters, Ankara, Turkey, Dec. 15, 2020.

No magic tap for Europe to replace Russian gas via Turkey

Europe has been looking to Azerbaijan, Israel and other countries to transit gas via Turkey, but assuming political obstacles can be overcome, the massive investments needed will take time to realize.

Saudi Crown Prince Mohammed bin Salman (R) and Bahrain's Crown Prince Salman bin Hamad al-Khalifa.

Saudi GDP grew 3.2% in 2021, highest in seven years

Saudi economic progress includes growth in the non-oil sector, as foreign direct investment moves more slowly.

Russian Foreign Minister Sergey Lavrov (R) shakes hands with Iranian Foreign Minister Hossein Amir-Abdollahian

Iran says Russia won't block nuclear deal

Iran's top diplomat was in Moscow in what appeared to be a push to bring Russia back onboard the nuclear talks after they were stalled presumably by Russia's "unrelated" demands.

A flame from a Saudi Aramco oil installation known as "Pump 3" is seen in the desert near the oil-rich area of Khouris, 160 kilometers (99 miles) east of Riyadh, Saudi Arabia, June 23, 2008.

Saudi cooperation with China continues with finalization of long-planned refinery deal

Saudi oil giant Aramco has made a few agreements with Chinese companies in recent years.

US President Joe Biden announces a ban on US imports of Russian oil and gas, March 8, 2022.

Breaking | Last Updated: March 9, 2022, 6:16 pm

Oil price dips as UAE endorses increased production

Global oil prices have skyrocketed due to the Russian invasion of Ukraine.

United Arab Emirates

US Director of National Intelligence Avril Haines testifies.

Analysis

The Takeaway: Russia, Iran major cyberthreats targeting US, says intel community

Turkey as alternative European gas route; Russian Syrian mercenaries in Ukraine; Palestinians claim double-standard in Western response to Ukraine; Egypt balances US, Russia in dealing with Ukraine war.

Andrew Parasiliti

Elizabeth Hagedorn

Joe Snell

By Andrew Parasiliti , Elizabeth Hagedorn , Joe Snell

US President Joe Biden announces a ban on US imports of Russian oil and gas, March 8, 2022, from the Roosevelt Room of the White House in Washington, DC.

Biden bans Russian oil imports as Iran talks hit snag

The embargo on Russian energy supplies comes as negotiators in Vienna appear close to striking a deal that would ease sanctions on Iran’s oil sector.