The U.S. Navy is not ready to escort oil tankers through the Strait of Hormuz, Energy Secretary Chris Wright told CNBC in an interview Thursday. “It’ll happen relatively soon but it can’t happen now,” Wright said. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and…
An oil pumpjack operates in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California. Mario Tama | Getty Images LONDON — European stocks are expected to open lower on Thursday as investors monitor the Iran war and global oil prices. The U.K.’s FTSE index is seen opening 0.2% lower, Germany’s DAX down…
The energy price shock that followed Russia’s invasion of Ukraine four years ago is fresh in the minds of European policymakers as the conflict in Iran once again drives oil and gas prices higher. Experts, however, think this time could be different. Fears of a full-blown energy crisis on that scale — which saw oil…
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Lucy Nicholson | Reuters Oil prices surged more than 8% with Brent crude hitting $100 per barrel Thursday, as traders remain unconvinced that release of government stockpiles could offset the massive supply shock triggered by the war in the Middle East. The…
U.S. President Donald Trump speaks to the media next to White House press secretary Karoline Leavitt, at the White House in Washington, D.C., U.S., March 11, 2026. Brian Snyder | Reuters President Donald Trump on Wednesday said he’s not worried about Iran executing a terror attack within the United States in retaliation for the ongoing…
The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history. The IEA did not set out a timeline for when the stocks would hit the market. It said that the reserves would be…
Naval units from Iran and Russia carry out to simulation of rescue a hijacked vessel during the joint naval drills held at the Port of Bandar Abbas near the Strait of Hormuz in Hormozgan, Iran on February 19, 2026. Anadolu | Anadolu | Getty Images A cargo ship in the Strait of Hormuz has been…
In this handout photo obtained from the U.S. Defence Department, Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72) sails alongside Arleigh Burke-class guided-missile destroyer USS Frank E. Petersen Jr. (DDG 121) and Lewis and Clark-class dry cargo ship USNS Carl Brashear (T-AKE 7) in the Arabian Sea, Feb. 6, 2026. Mass Communication Specialist 1st Class…
Rotterdam hopper dredger vessel operated by Van Oord sits anchored, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 9, 2026. Benoit Tessier | Reuters Iran has continued to send large amounts of crude oil via the Strait of Hormuz to China even as the…
Defense Secretary Pete Hegseth on Tuesday said, “Today will be, yet again, our most intense day of strikes inside Iran.” “Iran stands alone, and they are badly losing on Day 10 of Operation Epic Fury,” Hegseth said at a press conference at the Pentagon with Gen. Dan Caine, the chairman of the Joint Chiefs of…
