Oil

In double trouble: Iran’s oil crisis – opinion

Given that the Islamic Republic’s lifeblood – oil – is being squeezed, it should learn from history that collapse always begins with a warning sign such as this one

A Satellite image shows a likely oil spill covering dozens of square kilometers near Iran’s Kharg Island, earlier this month.
Syrian President Ahmed al-Sharaa gestures outside 10 Downing Street, after meeting with Britain's Prime Minister Keir Starmer, in London, Britain March 31, 2026.

Syrian President Ahmed al-Sharaa announces first cabinet reshuffle since Assad ouster - report

A satellite image shows likely oil spill covering dozens of square kilometers near Iran's Kharg Island, May 6, 2026.

Suspected oil spill seen on satellite images near Iran's Kharg Island export hub, Iran denies

Drone view of oil tanker HELGA berthed at one of Iraq's southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026.

US targets Iraq oil official and militias with sanctions for aiding Iran


Iran can last for months under US Strait of Hormuz blockade, US officials say - report

“The leadership has gotten more radical, determined, and increasingly confident they can outlast US political will and sustain domestic repression to check any resistance,” one US official said.

A map showing the Strait of Hormuz is seen in this illustration taken June 22, 2025.

U.S.–Iran tensions escalate despite ceasefire

Markets are closely watching the next moves in the U.S.-Iran conflict, as renewed tensions in the Strait of Hormuz continue to threaten global oil flows, inflation stability, and investor confidence.

Extra virgin or refined oil – the effects on brain health

The oil you cook with affects brain health – and there is one type that is significantly better than the others.

Olive oil

Maersk US-flagged ship transits Hormuz accompanied by US military

US Central Command said in a social media post on Monday that American forces are actively assisting efforts to restore commercial shipping through the Strait, a vital waterway in the region.

The Singapore-flagged tanker Maersk Kate during the fuel unloading manoeuvre in Telde, on the island of Gran Canaria, Spain, March 27, 2026.

IMF chief Georgieva warns of 'much worse outcome' if Middle East war drags into 2027

The IMF issued three scenarios for global GDP amid uncertainty over the war in the Middle East: the main "reference forecast," a middle "adverse scenario," and a much worse "severe scenario."

Kristalina Georgieva, Managing Director of the International Monetary Fund speaks during the Milken Institute Global Conference 2026 in Beverly Hills, California, US, May, 4, 2026.

'Renewed surge in Somali piracy': Oil tanker M/T EUREKA hijacked off Yemen coast

Yemen's coast guard stated that the tanker’s location had been identified and efforts were underway to track it, take necessary measures to recover it, and ensure the safety of its crew.

A Yemeni coast guard boat escorts a tugboat ferrying members of a Houthi delegation to attend a meeting of a committee overseeing a UN-led peace deal that will be held on board a UN-chartered ship off Yemen's port city of Hodeidah September 8, 2019.

US blockade costs Iran $4.8 billion, US Navy acting 'sort of like pirates,' Trump says - report

According to Pentagon officials, over 40 vessels carrying oil and other contraband have been redirected by the US military since the blockade began on April 13th. 

The ‘USS Abraham Lincoln’ conducts US blockade operations related to the Strait of Hormuz, last month.

Syria relies on Russia's oil despite pivot to the West

Oil shipments from Russia have jumped 75% to about 60,000 barrels per day this year, making Moscow the country's dominant crude supplier following the fall of Assad in December 2024.

Russian President Vladimir Putin and Syria's President Ahmed al-Sharaa shake hands during a meeting at the Kremlin in Moscow on January 28, 2026.

Fractures rock Gulf alliance as UAE quits OPEC during Iran war - analysis

Abu Dhabi’s exit, a summit snub, and public criticism expose a widening Saudi-Emirati split reshaping energy and security coordination.

UAE Minister of Energy and Infrastructure, Suhail Mohamed Al Mazrouei speaks, on the day of the Make it in the Emirates (MIITE) conference, in Abu Dhabi, United Arab Emirates, May 4, 2026.

Iran may run out of oil storage within weeks under US blockade pressure

As a result of the blockade on Iranian ports, Tehran has been forced to store all the oil it extracts through various means, including onshore facilities and floating storage aboard vessels.

 US military forces boarded the crude oil tanker Aquila II in the Indian Ocean after pursuing it from the Caribbean. The vessel was accused of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela. February 9, 2026.