Middle East oil producers plan to build new pipelines to reduce their dependence on the Strait of Hormuz, as Iran disrupts the Gulf states’ seaborne crude exports with near daily attacks on tankers. But new pipelines will not end the threat to the region’s energy exports, analysts said. This infrastructure is just as vulnerable to…
A sign at BP Plc petrol station in London, UK, on Monday, Aug. 4, 2025. Bloomberg | Bloomberg | Getty Images BP and ConocoPhillips are set to announce billions of dollars of new investments in Iraq on Friday as Washington seeks to bolster the country’s energy sector and reduce the region’s reliance on routes vulnerable…
New York Gov. Kathy Hochul and U.S. President Donald Trump. David Dee Delgado | Reuters | Saul Loeb | AFP | Getty Images President Donald Trump slammed New York Gov. Kathy Hochul’s new data center moratorium on Wednesday, saying in a Truth Social post that the state should change its policy “IMMEDIATELY” after it became…
Drone view of oil tanker HELGA berthed at one of Iraq’s southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. Mohammed Aty | Reuters President Donald Trump’s plan to impose a 20% fee on…
In an aerial view, oil storage tanks are seen at the Sunoco LP Fuel Supply Terminal on June 15, 2026 in Austin, Texas. Oil held in the U.S. Strategic Petroleum Reserve has fallen to its lowest levels since 1983 as the Trump administration continues releasing emergency crude oil to help compensate for oil elevated fuel…
The International Maritime Organization, a United Nations agency, said Monday that it opposes transit fees in the Strait of Hormuz after President Donald Trump demanded that ships pay protection money. “We have always been consistent on our stance on fees – IMO stands firmly against charging fees for passage through straits used for international navigation,”…
NEW DELHI, INDIA – JULY 9: People are seen crossing a waterlogged road after the heavy rainfall at Gazipur Sabzi Mandi on July 9, 2026 in New Delhi, India. (Photo by Raj K Raj/Hindustan Times via Getty Images) Hindustan Times | Hindustan Times | Getty Images India’s consumer price inflation rose to 4.38% in June,…
President Donald Trump ordered renewed airstrikes against Iran on Saturday after the Islamic Revolutionary Guard Corps attacked a commercial ship transiting the Strait of Hormuz, the U.S. military said in a statement. The M/V GFS Galaxy, a container ship sailing under the flag of Cyprus, is unable to continue its journey after the Iranian attack…
Donald Trump, President of the United States, speaks during a press conference at the NATO Summit at the Presidential Complex in Ankara, Turkiye, on July 8, 2026. (Photo by Klaudia Radecka/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images President Donald Trump threatened to “decimate and destroy” Iran if Tehran acts on threats to…
Iran wants to shut down a U.S. Navy-protected shipping lane through Oman’s waters that has allowed oil and gas tankers in the Persian Gulf to exit the Strait of Hormuz without seeking Tehran’s permission. The Islamic Republic tried to impose its control over Hormuz this week by attacking three tankers navigating the strait through the…
