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November 2, 2026

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Traders work on the floor of the New York Stock Exchange at the opening bell, New York City, Sept. 28, 2026.

Oil tops $114 as traders brace for Iran escalation after US midterms

On Friday, BP posted its highest profits in 18 years as a result of the Iran conflict, which has driven up oil and gas margins.

Security forces stand guard in front of a banner showing the Kaaba during a protest by supporters of the Houthi authorities against the Saudi intervention in Yemen and against Saudi Arabia's recent accusation that the Houthis fired at the holy city of Mecca, in Sanaa on Sept. 18, 2026.

Russian satellite data helped Yemen’s Houthis target Saudi Arabia: What to know

A report by The Associated Press found evidence that Russian satellites helped Yemen’s Houthis identify and target specific sites, including energy facilities and military bases, in Saudi Arabia.

A woman walks past a mural bearing the Iranian national flag

Analysis

How wartime urgency pushed Iran to court Saudi Arabia, Turkey, Pakistan

Tehran's push for a regional security order independent of Washington could be gaining diplomatic momentum, but the Islamic Republic has competing, if not conflicting, strategic priorities with the countries it hopes to engage.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

BILAL QABALAN/AFP via Getty Images

Saudi oil infrastructure in crosshairs as Houthis claim Ras Tanura strike

Ras Tanura is home to the kingdom’s largest refinery and one of the world’s most important oil export terminals.

Latest News

Explainer

As parliament approves, what's driving Egypt's 'defensive' support to Saudi Arabia?

Egyptian soldiers man an infantry fighting vehicle

Riyadh airport reopening faces turbulence as Houthis claim new strikes

A man looks at a screen displaying the flight schedule at the Hazrat Shahjalal International Airport in Dhaka, on Oct. 12, 2026, as Saudi Arabia-bound flights remain canceled a day after a Houthi strike at Riyadh's international airport.

Saudi Arabia’s KBS, top Turkish and Pakistani officials hold rare meeting in Iran: What to know

GEOFFROY VAN DER HASSELT/AFP via Getty Images

Samuel Wendel

Senior Analyst, Middle East Business & Tech

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

Sabena Siddiqui

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

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

U.S. Secretary of State Mike Pompeo walks after stepping off his plane upon arrival at King Abdulaziz International Airport in Jeddah, Saudi Arabia, September 18, 2019. Mandel Ngan/Pool via REUTERS - RC1902D55130

Trump, Europeans push to keep space for Iran diplomacy after Saudi attacks

Following strikes on Saudi oil facilities, Donald Trump stated his desire to avoid escalation with Iran.

Iran's Foreign Minister Mohammad Javad Zarif speaks during a news conference in Tehran, Iran August 5, 2019. Nazanin Tabatabaee/WANA (West Asia News Agency) via REUTERS. ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. - RC1725B039F0

Iran defends strikes on Saudi oil facility but denies role

While flatly denying any role in the twin strikes on Saudi oil facilities, Iran finds no drawback in firmly standing by the Shiite Houthi rebels for what it views as their exercise of the right to retaliate against Saudi attacks.

The domestically built mobile missile defence system Bavar-373 is displayed on the National Defence Industry Day in Tehran, Iran August 22, 2019. Tasnim News Agency/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC18AD146FB0

Suspected Iranian strikes raise US concerns over Chinese missile proliferation

The Donald Trump administration is concerned that US adversaries such as China are abetting Iran’s growing missile arsenal, which US officials believe was used in strikes against Saudi oil facilities over the weekend.

Iran's Supreme Leader Ayatollah Ali Khamenei delivers a speech during a ceremony marking the death anniversary of the founder of the Islamic Republic Ayatollah Ruhollah Khomeini, in Tehran, Iran, June 4, 2017. TIMA via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. FOR EDITORIAL USE ONLY. - RC16ADBF0A50

Iran's supreme leader says no talks with US 'at any level'

Iran's supreme leader has dismissed talks with the United States, saying Washington is bound to proving the success of its "maximum pressure" policy by pushing Tehran to the negotiating table.

Russian President Vladimir Putin is seen during trilateral talks with his counterparts Hassan Rouhani of Iran and Tayyip Erdogan of Turkey in Ankara, Turkey September 16, 2019. Sputnik/Valery Melnikov/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC1A1133AD90

Intel: What’s behind Putin’s arms sale proposal to Saudis

Putin's offer of defense missile systems for the Saudis was political but there's more to this in the runup to his visit to Riyadh.

Presidents Vladimir Putin of Russia, Tayyip Erdogan of Turkey and Hassan Rouhani of Iran chat following a joint news conference in Ankara, Turkey, September 16, 2019. REUTERS/Umit Bektas - RC1EF10953B0

How latest Astana talks between Turkey, Russia, Iran went beyond Syria

What the Astana guarantors agreed upon in Ankara will have implications for Syria but the way the leaders communicated past each other each is even more telling.

BQAIQ, SAUDI ARABIA - SEPTEMBER 14, 2019: Smoke billows from Saudi Aramco's oil processing plants in Abqaiq and Khurais, Saudi Arabia. (Photo by Orbital Horizon/Copernicus Sentinel Data 2019/Gallo Images via Getty Images)

Iraq works to distance itself from US-Iran tension after Saudi Aramco attack

Baghdad is worried that the Sept. 14 attack on Saudi Arabia will affect Iraq's stability and relationship with neighboring countries.

Democratic 2020 U.S. presidential candidate and U.S. Senator Bernie Sanders (I-VT) speaks at a campaign rally in Dover, New Hampshire, U.S. September 1, 2019. REUTERS/Brian Snyder - RC1771A53780

Sanders warns Trump against illegal Iran strike

Presidential candidate Bernie Sanders is warning Donald Trump that he does not have the legal authority to strike Iran.

Iran denies involvement in Saudi attacks

Iranian analysts believe the United States and Iran are not headed toward conflict after the attacks on Saudi Arabian oil facilities.

Hamas breaks silence on its leader detained by Saudi Arabia

Saudi Arabia arrested Hamas leader Mohammed al-Khodari, his son and a number of Palestinians, ushering in increased tension in relations between the two sides.

Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia, September 14, 2019. REUTERS/Stringer - RC18BDE58360

Saudi oil facility attack challenges Washington's regional commitment

While the recent attacks on two Saudi oil facilities will impact global oil prices, it is the US commitment in the region that is under attack.

Women are seen at Shaikh Zayed Grand Mosque before a visit by Pope Francis in Abu Dhabi, United Arab Emirates, February 4, 2019. REUTERS/Tony Gentile - RC187AF4AC70

GCC countries miss chance to grant women full citizenship rights

The tensions polarizing the Gulf region could have triggered long-awaited citizenship reforms, but the right to automatically pass on nationality remains a male preserve.