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
OPEC+ pressures Iraq, UAE to further cut oil production Saudi Arabia and other OPEC members held a virtual meeting with Russia and other allied oil producers today to discuss the continuing low price of oil amid the COVID-19 pandemic. Saudi Arabia
Iranian fuel tankers reported off coast of South Africa The tankers are reportedly bringing oil to Venezuela and may be taking the longer African route to avoid US forces following a seizure in August. Iran
Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean At a time when tensions are on the rise in the eastern Mediterranean, Egypt and Cyprus are intensifying talks to start building an offshore gas pipeline from the Aphrodite gas field to Cairo in preparation for re-export to Europe. Egypt
Russia enters EastMed fray, offers to mediate with Turkey As Turkey bemoans its loneliness in a bitter row with Greece over energy exploration in the Mediterranean Sea, Moscow says it is ready to step in to mediate talks. Turkey
Owners of Iranian fuel seized by US raise challenge in court The US Justice Department says the companies challenging the fuel seizure are fronts for Iran's Islamic Revolutionary Guard Corps. Iran
US government seizes control of websites allegedly involved in Iran-Venezuela oil deal The seizure follows the US interception of fuel tankers from Iran en route to Venezuela this month amid increased US pressure on both countries. United States
Turkey plans new naval drills in eastern Mediterranean The Turkish navy will hold live-fire exercises in the eastern Mediterranean next week amid rising tensions with Greece. Turkey
How Mediterranean standoff complicates Turkey's natural gas agenda Too many factors — especially tensions with Greece — are at play to determine whether recent gas discovery in the Black Sea will translate into massive commercial and political gains for Ankara. Turkey
Germany appeals for calm as Turkish, Greek navies run drills in EastMed The Turkish and Greek navies conducted drills in the eastern Mediterranean this week as German Foreign Minister Heiko Mass seeks to bring both nations back to the negotiation table. Turkey
Turkey open to talks with Greece without preconditions: foreign minister During a meeting with his German counterpart, Turkish Foreign Minister Mevlut Cavusoglu said his government is ready for talks with Greece, but without preconditions. Turkey
Intel: Saudi Arabia Energy Ministry all in on $500 billion megacity An agreement between the futuristic megacity and Saudi Arabia's Energy Ministry underscores the Kingdom's push for renewable energy and economic diversification. Originals
Turkey announces major natural gas discovery in Black Sea President Recep Tayyip Erdogan said the discovery of 320 billion cubic meters of natural gas will help Turkey reduce its reliance on foreign energy supplies. Turkey
