Oil surges past $120 to war-time high as Trump rejects Iran overture Benchmark Brent crude surpassed $120 per barrel on Wednesday, reaching the highest levels yet seen during the US-Israel-Iran war. Iran
Turkey advances gas pipeline plan to northern Cyprus as East Med rivalry grows The Turkish energy minister said the country's oil and natural gas pipeline operator, BOTAS, has started the engineering work for the pipeline. Turkey
Why UAE's decision to leave OPEC is major shift for cartel The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil. United Arab Emirates
Iranian National Oil Company opens office in Iraq Tehran expands its economic and political influence in Iraq via its National Iranian Oil Company. Iraq
Energy tops agenda of Turkish FM's meetings in Iraq Turkey’s foreign minister is touring Iraq in a likely bid to boost ties with his country's oil-rich neighbor as the United States ends the waivers that allowed Turkey to buy oil from Iran. Iraq
Turkey seeks alternate oil sources as US ends Iran sanctions waivers Ankara vowed to defy US sanctions on Iran, but figures show Turkey heeding US restrictions and curtailing oil imports from Iran. Turkey
Forget oil sanctions, end of nuclear cooperation waivers could quietly kill Iran deal While the United States' stepping up of oil sanctions has gotten more attention lately, a greater threat to the nuclear deal involves the waivers allowing cooperation with Iran on nonproliferation. United States
Iran leadership shrugs off US oil sanctions, pledges response Iran's supreme leader says the US plan to cap the flow of his country's oil will lead nowhere, pledging a "response to the US hostility." Saudi Arabia
US cuts Iran oil waivers in move to force Tehran out of nuclear deal Washington is letting sanctions waivers for countries that import Iranian oil expire as it tries to make Iran quit the 2015 nuclear deal before a UN arms embargo is lifted next year as part of the agreement. United States
Congress adds new irritant in US-Turkey relations with pro-Cyprus push Members of the Senate Foreign Relations Committee want to lift the arms sale ban on the disputed island. Turkey
Iran signals change to FX regime, crackdown on profiteering The Iranian authorities said renewed turbulence on foreign exchange markets will be short-lived as signals were sent that a crackdown on profiteering is ahead. United States
Russia expands ties in Lebanon’s oil, gas sector Russia has gotten a huge head start on the United States in gaining access to Lebanon’s oil and gas sector, allowing Moscow to continue to strengthen its economic position across the Middle East. Israel
Egypt takes another whack at fuel subsidies Egypt's draft budget for fiscal year 2019/20 includes a 42% cut in fuel subsidies, raising concerns among drivers across the country. Egypt
Iran threatened by Russia-Saudi oil pact Oil dealings between Moscow and Riyadh raise suspicions in Tehran, but Iran may soon learn they have a silver lining. Saudi Arabia
Oil smugglers can count on corruption in Iraq More than a year after Mosul was liberated from the Islamic State, oil smuggling continues in the area. Iraq
