Oil and gas

A picture taken on March 12, 2017, shows an Panamanian tanker docking at the platform of the oil facility in the Khark Island, on the shore of the Gulf.

Breaking | Last Updated: May 11, 2026, 4:31 pm

US hits China-linked Iran oil trade with sanctions ahead of Trump trip

The sanctions come after the United States rejected Iran's latest proposal to end the war.

Guests stand at the Aramco booth during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi on Nov. 3, 2025.

Aramco profits jump 26% as Hormuz disruption chokes supply

Aramco CEO Amin Nasser said the market has already lost around 1 billion barrels of oil supply since the US-Israel-Iran war erupted on Feb. 28.

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

CN-STR / AFP via Getty Images

China’s overland trade routes offer Iran wartime economic lifeline: What to know

Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time.

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Egypt ramps up energy investments amid war-driven price pressures

Prime Minister Mostafa Madbouly said Wednesday that Egypt has secured commitments exceeding $19 billion from international oil companies over the next three years.

Latest News

EU says energy costs tied to Hormuz crisis have surged past $35B

Lionel BONAVENTURE / AFP via Getty Images)

Few ships pass Hormuz despite US efforts to break Iran's hold

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Pentagon says Iran ceasefire continues despite UAE attack

US Defense Secretary Pete Hegseth speaks at a press briefing at the Pentagon in Washington, DC, on April 24, 2026.

Analysis

US banking on Iraqi turnaround with nomination of Zaidi as new PM

Ali Al-Zaidi

Week in Review

By Week in Review

A pumpjack stands idle in the Huntington Beach oil field, with port cranes visible in the distance, on April 23, 2026, in Huntington Beach, California.

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.

This aerial photograph shows Turkey's first floating natural gas production platform, "Osman Gazi," passing through the Bosphorus, in Istanbul, on May 29, 2025.

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.

MUMEN KHATIB/AFP via Getty Images

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

Yuichi YAMAZAKI / AFP via Getty Images

First LNG tanker transits Strait of Hormuz since Iran war began

Thomas Kronsteiner/Getty Images)

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.

BAY ISMOYO / AFP via Getty Images

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

At least 19 Iran-linked tankers have passed through the US blockade on the strait to exit the Gulf while at least 15 have entered, according to the cargo-tracking group Vortexa.

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.

Iran seizes two cargo ships in Hormuz after Trump extends ceasefire

The IRGC Navy’s seizure of two cargo vessels follows US Navy interdictions of two Iran-linked crude oil tankers in the Arabian Sea and the Indian Ocean earlier this week.

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.

Analysis

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

ADNOC, Aramco and QatarEnergy have aggressively expanded their international portfolios in recent years, a strategy facing new constraints as the US-Israel-Iran war impacts Gulf production and exposes structural risks.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

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

In a post on Truth Social on Sunday, US President Donald Trump said the US Navy fired at and seized an Iranian-flagged cargo ship in the Gulf of Oman.

Getty Images

Analysis

How long can Iran's economy weather US naval blockade?

Analysts believe the blockade will choke exports for essential items coming into Iran, like food and medicines.

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