Analysis Why the Hormuz oil shock never became an energy catastrophe The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Explainer After UAE and Qatar, could Iraq be next to leave OPEC? Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis. Iraq
Explainer Syria’s energy push could soon get a major boost from Chevron: What to know The country's leaders are seeking to translate a flurry of oil and gas agreements into concrete investments and rebuild an industry devastated by more than a decade of war, sanctions and isolation. Syria
Oil falls below $74 as Hormuz traffic recovers after Iran war Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close. Iran
Turkey resumes energy research in disputed waters A Turkish seismic research vessel has resumed energy prospecting activities in disputed eastern Mediterranean waters, sparking renewed tensions with Greek and EU leaders, who called on Ankara to end its "provocations." Turkey
Turkey eyes economic gains in backing Azerbaijan against Armenia Turkey and Azerbaijan often describe their relationship as “one nation, two states,” but their economic exchanges have remained relatively small despite their close political and ethnic bonds. Turkey
Chevron becomes operator of two Israeli natural gas fields US gas and petrol giant Chevron is now the owner of Nobel Energy and the operator of Israel natural gas fields Tamar and Leviathan. Egypt
NATO chief presses for calm in East Med, cease-fire in south Caucasus During a visit to Ankara Monday, NATO Secretary General Jens Stoltenberg voiced support for de-confliction efforts between Turkey and Greece in the eastern Mediterranean while calling for a cease-fire in the southern Caucasus. Turkey
Two Iranian fuel tankers reach Venezuelan territory The Associated Press reported that two Iran-flagged ships reached Venezuela and a third is on its way without US interference. Together they are carrying 815,000 barrels of fuel. United States
Iranian tanker reaches coast of Venezuela Other Iranian ships are bringing fuel to and from the South American country, despite a US seizure of such vessels in August. Iran
US mediation pushes Israel, Lebanon on marking maritime border Reports say that following US mediation, Israel and Lebanon are now ready to discuss the marking of their maritime borderline. Israel
Egypt leads international coalition to confront Turkey in eastern Mediterranean Egypt, Jordan, Israel, Cyprus, Greece and Italy signed the charter to transform the EastMed Gas Forum into a regional organization based in Cairo, in an attempt to form an international lobby capable of confronting Turkish ambitions in the eastern Mediterranean. Egypt
Saudi Arabia warns of ‘oil spot’ near aging tanker off Yemen's coast UN officials have described the FSO Safer, an aging vessel that contains 1.14 million barrels of light crude oil, as a ticking time bomb. Saudi Arabia
Iran reportedly loading Venezuelan oil for sale abroad Bloomberg reported that an Iranian ship reached the South American country last week. The United States is trying to stop fuel transfers between the two countries. Iran
East-Med Gas Forum evolves as Israel, Egypt enhance cooperation Israel’s Energy Minister Yuval Steinitz and six others sign the charter of the Eastern Mediterranean Gas Forum, which brings cooperation with other partners into a second, concrete phase. Palestine
Egypt announces record-high crude oil production for first time in decades Egypt’s Ministry of Petroleum has recently announced the achievement of a record number in producing crude oil, exceeding 65,000 barrels per day, for the first time since 1957. Egypt
