A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026 Planet Labs Pbc | Via Reuters U.S. President Donald Trump said on Friday that he directed the U.S. Central Command to carry out a bombing raid, hitting military targets on Iran’s Kharg Island. “Moments ago, at my direction, the United…
U.S. Secretary of Defense Pete Hegseth holds a briefing amid the U.S.-Israeli conflict with Iran, at the Pentagon in Washington, D.C., U.S., March 2, 2026. Elizabeth Frantz | Reuters Defense Secretary Pete Hegseth on Friday brushed aside concerns that the effective closure of the Strait of Hormuz because of the Iran war, which has spiked…
The Callisto tanker sits anchored in Port Sultan Qaboos as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026. Benoit Tessier | Reuters Brent crude oil, the global benchmark, held above $100 on Friday morning as the U.S.-Iran war heads toward its third…
Commercial vessels are pictured offshore in Dubai on March 11, 2026. – | Afp | Getty Images Asia-Pacific markets opened lower Friday as oil prices soared on renewed fears that a prolonged conflict in the Middle East could further crimp energy supplies, stoking fears of a global economic downturn. Iran’s new Supreme Leader Mojtaba Khamenei…
Russian supertanker Astro Lupus waits to unload its cargo of the first direct shipment of Russian crude oil on July 3, 2002 in the Gulf of Mexico. Pool | Afp | Getty Images The U.S. on Thursday temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets. U.S. Treasury Secretary Scott…
The U.S. Navy will begin escorting ships through the Strait of Hormuz as soon as “militarily possible,” Treasury Secretary Scott Bessent told Sky News on Thursday. “That was always in our planning, that there’s the chance that the U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent said in that…
Son of Iran’s Supreme Leader Ayatollah Ali Khamenei, Mojtaba Khamenei, attends a demonstration to mark Jerusalem day in Tehran. Morteza Nikoubazl | Nurphoto | Getty Images Iran’s new Supreme Leader Mojtaba Khamenei has said the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” in his…
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…
