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 fresh wave of attacks on the United Arab Emirates’…
U.S. President Donald Trump speaks during a lunch with the Trump Kennedy Center Board Members in the East Room of the White House on March 16, 2026 in Washington, DC. Alex Wong | Getty Images President Donald Trump said Monday that he is frustrated some countries will not join a coalition to escort oil tankers…
Treasury Secretary Scott Bessent said Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted. In a CNBC interview, Bessent addressed rumors that the Treasury Department or some other arm of government might step in to try to lower oil…
The United States is allowing Iranian oil tankers to transit the Strait of Hormuz, Treasury Secretary Scott Bessent told CNBC in an interview Monday. “The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent told CNBC’s Brian Sullivan. Tanker traffic through the Strait has…
A family sits against the backdrop of a dockyard off the coastal city of Fujairah, in the Strait of Hormuz in the northern Emirate on Feb. 25, 2026. Giuseppe Cacace | Afp | Getty Images A drone attack at the United Arab Emirates’ key oil trading hub of Fujairah triggered a large fire, authorities said…
U.S. President Donald Trump speaks to members of the media before boarding Air Force One for travel to Florida, at Joint Base Andrews, Maryland, U.S., March 13, 2026. Kevin Lamarque | Reuters U.S. President Donald Trump said Sunday that other countries should help the U.S. secure the Strait of Hormuz, arguing the key shipping route…
The AI boom may be having a side effect: a surge in Big Tech buying carbon credits to offset emissions generated by its energy-hungry buildout. Amazon, Google, Meta, and Microsoft have ramped up purchases of permanent carbon credits since the launch of ChatGPT sparked the AI race in 2022, according to data compiled for CNBC…
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. Fatemeh Bahrami | Anadolu | Getty Images President Donald Trump’s order to strike Iranian military assets on Kharg Island…
U.S. crude prices topped $100 per barrel Sunday evening, as the Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island. U.S. crude oil rose 2.64% to $101.32 per barrel by 6:15 p.m. ET. Brent prices, the international benchmark, were up 2.94% to $106.17 per barrel. President Donald Trump…
A fuel nozzle is inserted into a combustion engine at a petrol pump at a filling station during a refueling process. Picture Alliance | Picture Alliance | Getty Images Countries around the world have scrambled to cope with the fallout of the energy shock from the Iran war, imposing measures from fuel export bans, loosening…
