Oil
World Bank warns of 16% rise in commodity pricing over Hormuz closure
World Bank forecasts a 24% rise in energy prices in 2026, driven by the Iran conflict and the continued closure of the Strait of Hormuz, affecting global markets.
Behind Tehran’s calm, Iran faces deepening economic collapse
UAE exit weakens OPEC+ power over oil market but group to stay together, sources say - analysis
UAE taking advantage of long-term global energy needs by leaving OPEC - analysis
Iran uses improvised oil storage to avoid damage to oil facilities amid blockade - report
This situation stems from the fact that the Iranian extraction and refining systems can't be shut down, with Kharg Island's infrastructure at risk of failure if the oil flow is cut.
UAE leaves OPEC and OPEC+ in major blow to global oil producers' group
UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision was made after a careful look at the regional power's energy strategies.
Iran war begins to hit China’s economy as costs surge
The war in Iran is weighing on China’s economy, with car sales plunging, toy factories shutting down, and thousands of workers taking to the streets following a surge in plastic and energy prices.
Nations to discuss fossil fuel exit as Strait of Hormuz blockade drives up prices
The gathering of ministers and officials in Santa Marta, Colombia, which starts on Tuesday, will focus on practical steps to shift economies away from fossil fuels.
Russian superyacht crosses Strait of Hormuz as shipping traffic remains muted
The US Central Command has redirected 37 vessels since a blockade was imposed on Iran on April 13, the military said on April 25.
US imposes sanctions on Chinese 'teapot' refinery for buying Iranian oil
Last year, the US imposed sanctions on teapots Hebei Xinhai Chemical Group, Shandong Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical.
US will not renew Iranian, Russian oil waivers, Treasury Secretary tells Associated Press
According to the Associated Press, the waivers were originally issued to ease the strain on global energy markets caused by the Russia-Ukraine war and the US-Iran war.
Iran uses fast boats to seize container ships in Strait of Hormuz, challenging US blockade
Iran's "fast-attack" ships have not been considered much of a threat, according to Trump, but have since been used to seize two container ships near the Strait.
Ships seized by Iran taken to Bandar Abbas as countries check on sailors' wellbeing
The IRGC seized the ships on Wednesday, with both crews reported as safe, as their home countries actively seek their return.
Trump's Op. Economic Fury pressure campaign on Iran expands beyond Hormuz blockade - report
Operation Economic Fury began with the blockade of Iranian ports in the Strait of Hormuz before expanding to ships providing support to the Iranian regime in international waters.
