Oil

Iran detains 18 crew members of foreign tanker seized in Gulf of Oman

Iran said those detained in the ongoing investigation include the tanker's captain. The vessel's identity and the crew members' nationalities were not disclosed.

Members of the Iranian Navy attend the joint Navy exercise of Iran, China and Russia in the Gulf of Oman, Iran, in this handout image obtained on March 12, 2025; illustrative.
Venezuela's President Nicolas Maduro attends an event with supporters following U.S. President Donald Trump's statement that ground operations against drug cartels could be next, even without a declaration of war, in Caracas, Venezuela, October 23, 2025.

US issues fresh sanctions targeting Maduro's family, Venezuela-linked oil tankers

 A coast guard boat of the Venezuelan Navy operates off the Caribbean coast on the day Venezuela's President Nicolas Maduro says that Venezuela would deploy military, police, and civilian defenses at 284 "battlefront" locations across Venezuela, amid heightened tensions with the US, Sept. 11, 2025.

US seizes tanker said to transport sanctioned oil from Venezuela and Iran

The South Yemen flag flies as soldiers from the Southern Transitional Council stand guard outside the compound of the Presidential Palace in Aden, Yemen, December 9, 2025.

UAE-backed forces seize South Yemen oil belt, reshaping war and Gulf power balance - analysis


Iran plays with fire as economic anger grows, fuel hike may be spark that lights people - analysis

Iran’s looming fuel hike is reviving memories of the deadly 2019 uprising, raising fears that economic pressure could ignite fresh unrest.

A picture taken on November 17, 2019 shows a scorched gas station that was set ablaze by protesters during a demonstration against a rise in gasoline prices in Eslamshahr, near the Iranian capital of Tehran.

Iran-backed drone strikes on US oil sites push Iraq closer to Washington over Tehran - analysis

Iraq is the second-biggest producer in the Organization of Petroleum Exporting Countries, which Trump has regularly criticized for trying to keep oil prices high.

Smoke rises above an oil field following a drone attack, on the outskirts of Zakho city in the Kurdistan Region of Iraq on July 16, 2025.

Gas field in Kurdistan Region of Iraq seeks restart after drone attack

Iraq’s Khor Mor gas field, vital for Kurdistan’s electricity, is preparing to restart production days after a drone attack halted operations, sparking widespread condemnation.

FILE PHOTO: The Khor Mor gas field after a rocket attack near Chamchamal, in Sulaymaniyah province, Iraq, November 27, 2025.

Iran seizes Eswatini-flagged vessel for smuggling fuel

Iran seized an Eswatini-flagged ship carrying 350,000 liters of smuggled fuel off Bushehr, detaining its 13 crew amid ongoing efforts to curb fuel smuggling.

Etswani flagged vessel.

Iran's IRGC smuggled over $1 billion to Hezbollah through Dubai since January, US says - WSJ

In addition to Dubai, the US is reportedly worried that funds are being smuggled to Hezbollah through Turkey and Iraq.

Mourners wave Hezbollah flags during the funeral of top Hezbollah chief Haytham Ali Tabatabai and other members killed in an Israeli strike in Beirut's southern suburbs on November 24, 2025.

Drone attack suspends operations at major Iraq gas field, power cuts occur across Kurdish region

A drone attack on the Khor Mor gas field in Iraq causes major power outages in northern regions, damaging key infrastructure and halting gas supplies to power stations.

A fire blazes at Khor Mor Oil and Gas field following a drone strike, November 26, 2025.

Iran to raise fuel prices under limited conditions amid energy crisis

Government officials have warned that subsidized fuel prices in Iran are "not rational," impose a heavy burden on state finances, and incentivise suboptimal consumption as well as force fuel imports.

 Cars queue at a petrol station, after fuel price increased in Tehran, Iran November 15, 2019.

US Treasury sanctions Iranian-linked front companies, shadow fleet vessels used to sell crude oil

“Today’s action continues Treasury’s campaign to cut off funding for the Iranian regime’s development of nuclear weapons and support of terrorist proxies,” said Treasury Secretary Bessent.

An illustration of an oil rig silhouette over the Iranian flag.

Iraqi PM-led coalition tops Iraq election with 46 seats, commission says

Prime Minister Sudani's bloc wins Iraq's election, but forming a new government may take months due to challenges in building a majority and balancing US-Iran influence.

A man holds a flag of Iraq from a car with an election poster featuring current Prime Minister Mohammed Shia' al-Sudani, as supporters of the Reconstruction and Development Coalition celebrate after preliminary election results were announced in Baghdad, Iraq, November 12, 2025.

Trump would back Russia sanctions bill if he retains final authority, White House official says

President Trump is willing to sign a sanctions bill targeting Russia, but insists on retaining ultimate authority over any sanctions measures, a senior official says.

An illustration of silhouettes of US President Donald Trump and Russian President Vladimir Putin over a background of their countries flags.

Russia's Novorossiysk port resumes oil loadings after Ukrainian attack

Novorossiysk and a neighboring Caspian Pipeline Consortium terminal temporarily suspended oil exports, equivalent to 2.2 million barrels per day, or 2% of global supply, on Friday.

A general view shows the Novorossiysk Fuel Oil Terminal (NMT) in the Black Sea port of Novorossiisk, Russia May 30, 2018. Picture taken May 30, 2018.