Oil

Drone strike causes diesel tank fire at Libya's Zawiya oil depot - statement

The incident came two days after a drone crashed into an untreated naphtha tank at the Zawiya refinery early on Saturday, causing a leak that staff managed to control.

A general view shows a detail of the Zawiya Oil Refinery, some 40 kms west of Tripoli, on October 27, 2011. The complex built in two different stages in 1974 and 1976 receives crude oil from the desert oil fields and treats 120,000 tons of crude daily.
The sun sets behind the Doha skyline on August 4, 2026.

Gulf states pay the price as shipping crisis exposes costly dependence on the Strait of Hormuz

Alberta separatists rally outside the offices of Elections Alberta before turning in a petition to trigger a referendum on separating from the rest of Canada in Edmonton, Alberta, Canada May 4, 2026.

The 51st state? Alberta set to vote on whether to pursue separation from Canada - explainer

A satellite image shows trail of smoke rising from an oil facility, in Jizan, Jazan province, Saudi Arabia, July 26, 2026.

Yemen's Houthis attack Saudi Aramco's refinery in Jazan, Saudi Arabia, even after Mecca Pact signed


Abu Dhabi sees leaving OPEC as a matter of national interest - opinion

The future of Emirati relations appears less tied to traditional binaries of friend and foe and more to the logic of the useful partner, the workable path.

  The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016.

Kharg Island and the new energy war over Iran’s collapsing oil exports - opinion

Iran’s Kharg Island shows the hidden cost of sanctions: empty oil terminals, environmental damage, and mounting pressure.

A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026

Trump says Xi agrees Iran must open Hormuz, China calls war unjustified

Following his Beijing summit, Trump says Xi supports reopening the Strait of Hormuz, while China calls the Iran war a conflict that “should never have happened.”

US President Donald Trump and China's President Xi Jinping arrive at state dinner, Great Hall of the People, Beijing, 2017.

Chinese supertanker breaks through US-Iran war blockade in Hormuz

The Chinese supertanker Yuan Hua Hu crosses the Strait of Hormuz after months of delay, carrying nearly 2 million barrels of Iraqi crude, as US-Iran tensions continue to shape the Gulf.

Ships and boats in the Strait of Hormuz, Musandam, Oman, April 22, 2026.

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 announces first cabinet reshuffle since Assad ouster - report

No official reason was given for the changes.

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.

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

The cause of the oil spill, which appears to cover the waters west of the 8-kilometer island, is still unknown.

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

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

The U.S. imposed sanctions on Thursday on Iraq's deputy oil minister and militias over support for Iran, the Treasury Department said.

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.

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.