Oil and Gas
Pete Hegseth on Strait of Hormuz: ‘Don’t need to worry about it’
U.S. Secretary of Defense Pete Hegseth holds a briefing amid the U.S.-Israeli conflict with Iran, at the Pentagon in Washington, D.C., U.S., March 2, 2026. Elizabeth Frantz | Reuters Defense Secretary Pete Hegseth on Friday brushed aside concerns that the effective closure of the Strait of Hormuz because of the Iran war, which has spiked […]
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Iran’s ‘oil lifeline’ has been left untouched in the conflict. What happens if it’s seized?
A general view of the Port of Kharg Island Oil Terminal, 25 km from the Iranian coast in the Persian Gulf and 483 km northwest of the Strait of Hormuz, in Iran on March 12, 2017. Anadolu | Anadolu | Getty Images The prospect of a U.S. move to seize Kharg Island, a strategically vital […]
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Oil holds near $100 as Trump says America ‘has ammunition and plenty of time’ to fight Iran war
The Callisto tanker sits anchored in Port Sultan Qaboos as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026. Benoit Tessier | Reuters Brent crude oil, the global benchmark, held near $100 on Friday morning as the U.S.-Iran war heads toward its third […]
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India’s Modi reaches out to Iran as energy crunch fears grip the South Asian nation
An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. Benoit Tessier | Reuters Indian Prime Minister Narendra Modi called Iranian President Masoud Pezeshkian within hours of Tehran’s new supreme leader vowing to keep the Strait of Hormuz […]
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U.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
Russian supertanker Astro Lupus waits to unload its cargo of the first direct shipment of Russian crude oil on July 3, 2002 in the Gulf of Mexico. Pool | Afp | Getty Images The U.S. on Thursday temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets. U.S. Treasury Secretary Scott […]
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Iran War: U.S. Navy will escort vessels through Strait of Hormuz as soon as ‘militarily possible,’ Bessent tells Sky News
The U.S. Navy will begin escorting ships through the Strait of Hormuz as soon as “militarily possible,” Treasury Secretary Scott Bessent told Sky News on Thursday. “That was always in our planning, that there’s the chance that the U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent said in that […]
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The two oil pipelines helping Saudi Arabia and UAE bypass the Strait of Hormuz
A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq’s territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. Mohammed Aty | Reuters The effective closure of the Strait of Hormuz has abruptly thrust two alternative oil pipelines into the […]
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Strait of Hormuz must remain closed as ‘tool to pressure enemy,’ Iran’s new supreme leader says
Son of Iran’s Supreme Leader Ayatollah Ali Khamenei, Mojtaba Khamenei, attends a demonstration to mark Jerusalem day in Tehran. Morteza Nikoubazl | Nurphoto | Getty Images Iran’s new Supreme Leader Mojtaba Khamenei has said all U.S. military bases in the Middle East should close immediately as those bases will be attacked, in his first public […]
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India’s consumer inflation rises to 3.21% in February as oil risks loom
Fuel nozzles hang at a petrol pump at a fuel station in Guwahati, India, on March 11, 2026. Oil prices reverse course from recent highs, slipping to around 90 USD a barrel after remarks by U.S. President Donald Trump on the Iran conflict. Markets remain unsettled as traders monitor the evolving geopolitical situation. (Photo by […]
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Flights are already getting more expensive after jet fuel spike. When should you book?
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at William P. Hobby Airport in Houston, Texas, US, on Monday, March 9, 2026. Mark Felix | Bloomberg | Getty Images The surge in fuel prices since the U.S. and Israel attacked Iran nearly two weeks ago is already driving up airfare. Consumers’ appetite […]
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